Currency Market Analysis
Mar 30, 2021 | Currency Market Analysis
USD jumps as markets react to Archegos Capital hit
The US dollar was mostly higher yesterday as markets reacted to early losses on news of USD20b fund liquidation.
The New York-based Archegos Capital was forced to liquidate positions in early Friday trade but the identity of the fund was only made public in Monday trade.
Initially, US shares were weaker overnight.
However markets rebounded with the US’s Dow Jones up 0.3% by the end of trading.
The USDSGD gained 0.3%.
The euro and Japanese yen both saw small gains.
The British pound fell with the GBP recently easing in most markets after a strong start to 2021.
Chinese data due
The NZ housing market is in focus early today with building consents due.
Tonight, German inflation figures, including import prices and preliminary CPI, are both released.
Tomorrow, the focus turned to key Chinese activity measures, with manufacturing and services PMI numbers both due.
Get the daily currency market analysis in your Inbox
Published five days a week, this newsletter provides day-to-day trends and activities affecting the market in easy-to-understand snapshots.