Good Morning, our senior currency specialist will keep you up-to-date with the latest market news.
AUD
Risk-on sentiment has surged the Aussie dollar to 11-week highs, currently trading at AUD/SGD 0.941. There’s optimism surrounding breakthroughs in a potential vaccine as human trials are to begin in Melbourne. This helped push up both the Australian dollar against other major currencies.
EUR
Overnight, the German Consumer Climate data came in below forecast at -18.9, which is still up from last month’s -23.1. This together with an increase in risk appetite pushed the Euro slightly higher. Looking ahead for today, the European Central Bank President Lagarde will be speaking at 3.30pm (SGT) which may give markets a glimpse into what future monetary policy may look like for the region.
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Disclaimer: The above comments are only our views and should not be construed as advice. You should act using your own information and judgement. Although information has been obtained from and is based upon multiple sources the author believes to be reliable, we do not guarantee its accuracy and it may be incomplete or condensed. All opinions and estimates constitute the author’s own judgement as of the date of the briefing and are subject to change without notice. Error & omission excepted.