USD/SGD jumps by 44 pips during the day
USD/SGD rises as the indicators disappoint the market.
Evergreen buck keeps to 4-month maximum
On Tuesday, the evergreen buck kept to a 4-month maximum versus other major currencies. The Australian dollar found itself under pressure from weaker than anticipated retail sales. The Australian currency demonstrated a weak reaction to China's trading indicators, which were mostly upbeat.
The US dollar index, normally employed to gauge the strength of the American currency versus a pack of six major rivals, tacked on 0.05% being worth 92.66. At night, the greenback managed to strengthen, hitting this year’s peak of 92.82.
Key events this week for the evergreen buck include a decision by the American President Trump on whether to withdraw from the deal with Iran or not. Evidently, the US withdrawal will generate unclear geopolitical consequences in the Middle East and it might apply pressure on the evergreen buck. In addition to this, the United States should also publish its data on producer prices as well as consumer inflation on respectively Wednesday and Thursday.
The currency pair USD/JPY headed south 0.06% coming up with an outcome of 109.02. This Asian country published its data on March household spending that turned out to be worse than anticipated, and accounted for 0.7% versus the expected 1.2%.
The People's Bank of China set a benchmark rate for the Chinese Yuan against the evergreen buck at 6.3674 against 6.3584 yesterday. The currency pair USD/CNY sank by 0.02% hitting 6.336656.
The April export of China, traditionally expressed in the Yuan, tacked on by 3.7% versus the previous year, and in contrast with a dive of 9.8% in March.
Imports in RMB headed north by 11.6% the previous month versus a 5.9% ascend in March, which provoked a surplus in the trade balance of about $28.72 billion.
The currency pair AUD/USD inched down up to 0.29% reaching 0.7493.
Similar
Market updates on July 17
What is going on in the market today ?
A chance for the Australian dollar
Australia will publish the employment change and unemployment rate on July 18, at 4:30 MT time.
Latest news
British inflation tacks on for the first time this year
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…
Evergreen buck heads north
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…
Gold ascends on Brexit jitters
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…
Deposit with your local payment systems
