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On Tuesday, the Australian dollar sagged because retail sales figures disappointed and market participants waited for Prime Minister Malcolm Turnbull's second budget. Additionally, financial markets also monitored the presidential election in South Korea.
The currency pair AUD/USD hit 0.7362, sliding 0.34%, while USD/JPY reached 113.22, declining 0.03%.
Tracking the US dollar’s strength versus six crucial currencies, the US dollar index, dipped 0.02%, trading at 99.01.
Australia posted that in March retail went down 0.1% and concluded 0.1% during the first quarter, missing expected revenues of 0.3% as well as 0.4% respectively.
In South Korea, financial markets are unavailable due to the country's presidential election and opinion surveys demonstrate favors Moon Jae-in of the Democratic Party of Korea, considered to be a more liberal candidate on the national economy as well as policies dealing with North Korea.
Reportedly, the ECB is analyzing the possibility of the change of the current inflation target of "below but close to 2%". It weakened the EUR
What is important today?
USD/SGD rises as the indicators disappoint the market.
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Tuesday, gold rallied because uncertainty over the latest developments in Britain’s departure from the EU backed safe haven demand and traders looked ahead for American inflation data to underpin the Fed’s pledge to remain on hold…
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