Currency Market Analysis

Global Themes

CNY selldownThe main focus remains on the Chinese yuan with the currency pressured by trade fears and weaker Chinese sharemarkets.The USD was higher overnight as further trade tensions hit commodities. Copper lost 1.9% overnight as it fell to one-year lows.The US dollar was later unsettled after US President Donald Trump indicated he was unhappy with recent interest rate hikes from the US Federal Reserve.AUD selldownThe euro was stronger overnight as it bounced from one-month lows.The AUD was weaker as the impact of yesterday’s strong jobs data quickly eased.The 51k new jobs created in June wa

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