Category: Commodities & Markets News

Commodities and financial market news from external sources.

XE Market Analysis: Asia – Jan 22, 2021

FX trade was choppy on Friday, leaving the DXY gyrating in a relatively narrow range between 90.06 and 90.30. Early risk-off conditions resulted in some safe-haven USD buying, though as Stocks moved off their worst levels, the Greenback faded again. Incoming U.S. data was strong, with bot Markit PMIs and existing home sales beating estimates,… Read more »

XE Market Analysis: North America – Jan 22, 2021

The dollar has traded mostly firmer up on a safe haven bid with the reflation trade having come to a firm stop. The DXY dollar index lifted moderately to a 90.26 high after basing out at a nine-day low at 90.05. The greenback still lost ground to the euro, which outperformed as market participants continued… Read more »

XE Market Analysis: Europe – Jan 22, 2021

The dollar has firmed up on a safe haven bid with the reflation trade having come to a firm stop. The DXY dollar index lifted moderately to a 90.26 high after basing out at a nine-day low at 90.05. The U.S. currency gained only marginally against the euro and yen, but racked up gains of… Read more »

XE Market Analysis: Asia – Jan 21, 2021

The Dollar lost modest ground in N.Y. on Thursday, though major USD pairing trading ranges remained relatively narrow. The DXY put in its third-consecutive lower daily low, bottoming at a seven-session base of 90.05. Incoming U.S. data was mostly positive, though initial jobless claims remained elevated. Continuing claims fell sharply, while housing starts hit a… Read more »

XE Market Analysis: North America – Jan 21, 2021

The DXY dollar index edged out a six-day low at 90.18 in what is now a third consecutive day of lower lows. The main U.S. equity indices on Wall Street clocked fresh record highs yesterday, as did the MSCI Asia-Pacific index today. Europe’s Stoxx 600 was showing a 0.5% gain as of the late London… Read more »

XE Market Analysis: Europe – Jan 21, 2021

The DXY dollar index edged out a six-day low at 90.25 in what is now a third consecutive day of lower lows, despite both EUR-USD and Cable, while buoyant, remaining below their respective Wednesday highs. USD-JPY, however, printed a two-week low at 103.33, and AUD-USD saw a five-day high. USD-CAD remained heavy, just above yesterday’s… Read more »

XE Market Analysis: Asia – Jan 20, 2021

The Dollar started Wednesday’s session on a slightly firmer footing, though later faded to near unchanged levels on the session. Some consolidation has been noted this week, following better than a week of gains seen once it became apparent the Democrats would control Washington, and likely push for huge fiscal stimulus, aimed at getting the… Read more »

XE Market Analysis: North America – Jan 20, 2021

The dollar traded softer for a third day amid a backdrop of buoyant global stock markets. The MSCI Asia-Pacific index clocked a fresh record high. The ‘looking-past-Covid’ reflation trade seems to have stirred, following recent dormancy, aided by the anticipation of a big spending Biden era in the U.S. Biden will be inaugurated as the… Read more »

XE Market Analysis: Europe – Jan 20, 2021

The dollar has traded softer for a third day amid a backdrop of buoyant global stock markets. The MSCI Asia-Pacific index clocked a fresh record high. This followed a positive session on Wall Street, though the main indices there closed below their recent record peaks. The ‘looking-past-Covid’ reflation trade seems to have stirred, following recent… Read more »

XE Market Analysis: Asia – Jan 19, 2021

The Dollar plied a narrow range overall in N.Y. on Tuesday, leaving the DXY between 90.40 and 90.58. There was no data to drive the USD, and some consolidation appeared to be settling in ahead of the inauguration on Wednesday. Ongoing talk of massive fiscal stimulus under the Democrats supported Wall Street, which posted decent… Read more »

XE Market Analysis: North America – Jan 19, 2021

The dollar and yen came under pressure today after rallying yesterday. A bullish sentiment global stock markets has boosted other currencies, particularly the dollar bloc and other cyclical units. The MSCI Asia-Pacific index rose over 1.5% and clocked a new record high, buoyed in the wake of strong GDP and production data out of China… Read more »

XE Market Analysis: Europe – Jan 19, 2021

The dollar has dropped today after rallying yesterday. A bullish sentiment on Asian stock markets boosted other currencies, particularly the dollar bloc and other cyclical units. The MSCI Asia-Pacific index rose over 1.5% to within a few pips of record highs. U.S. index futures rallied by over 0.5%. Commodities, in contrast, were lacklustre. Oil prices… Read more »

XE Market Analysis: North America – Jan 18, 2021

The DXY dollar index has posted a one-month high at 90.95, which sets up potential for a third consecutive up week, which is something that hasn’t been seen since January last year. Other currencies have mostly softened, especially the dollar bloc and other cyclical currencies as global stock markets have continued to sputter. Chinese equities… Read more »

XE Market Analysis: Europe – Jan 18, 2021

The DXY dollar index has posted a one-month high at 90.88, which sets up potential for a third consecutive up week, which is something that hasn’t been seen since January last year. Other currencies have mostly softened, especially the dollar bloc and other cyclical currencies as global stock markets have continued to sputter. Chinese equities… Read more »

XE Market Analysis: Asia – Jan 15, 2021

The Dollar rallied in N.Y. on Friday, seeing the DXY print one-month highs of 90.77, up from 90.43 in early trade. Despite some data misses and lower Treasury yields, the USD posted gains against all major currencies. Hopes for a more efficient rollout of Covid vaccines, and a quicker economic recovery supported the Greenback. Wall… Read more »

XE Market Analysis: North America – Jan 15, 2021

The dollar has traded moderately firmer, while modest weakness has been seen in the euro and yen, alongside a smidgen of firmness in the Canadian dollar. EUR-USD edged out a two-day low at 1.2136, which is 4 pips shy of the 24-day low that was seen earlier in the week. A lift in the 10-year… Read more »

XE Market Analysis: Europe – Jan 15, 2021

The dollar has traded firmer amid a backdrop of sputtering global stock markets, which, having lifted yesterday on reports of a $2 tln fiscal stimulus package from president-elect Biden, dropped back after he confirmed the package would total $1.9 tln. Market participants overlooked remarks from Fed Chairman Powell, who ruled out raising interest rates anytime… Read more »

XE Market Analysis: Asia – Jan 14, 2021

The Dollar attempted to rally early in the N.Y. session on Thursday, taking the DXY to two-session highs of 90.58, up from overnight lows of 90.24. From there, a round of profit taking set in, seeing the USD reverse lower against major currencies. There was little initial reaction to the much worse than expected jobless… Read more »

XE Market Analysis: Europe – Jan 14, 2021

Modest weakness in the euro and yen, along with a smidgen of firmness in the Canadian dollar, were pretty much the only directional themes among the main currencies in trading through to the early London interbank session. EUR-USD edged out a two-day low at 1.2136, which is 4 pips shy of the 24-day low that… Read more »

XE Market Analysis: Asia – Jan 13, 2021

FX trade was relatively quiet in N.Y. on Wednesday, keeping the DXY inside of a 90.20 to 90.45 trading band. Incoming data saw December CPI on the cooler side of expectations, though there was little market reaction. Wall Street struggled, though into the close, the major indices were all in modestly green territory. Treasury yields… Read more »

XE Market Analysis: North America – Jan 13, 2021

The dollar lifted out of lows, aided by gains against the euro after ECB’s Villeroy fired a rhetorical volley across the bows of euro bulls, reminding the forex market that he and his colleagues “are monitoring with particular attention the negative effects of the euro exchange rate.” Market participants, meanwhile, overlooked a much stronger than… Read more »

XE Market Analysis: Europe – Jan 13, 2021

The dollar has declined for a second day, further giving back the rebound gains that were seen in the wake of the Georgia runoff elections in the U.S., and despite tomorrow’s detailing by president-elect Biden of the Democrat party’s economic stimulus plan. The dollar softened following remarks by Fed hawks Mester and George, yesterday, who… Read more »

XE Market Analysis: Asia – Jan 12, 2021

The Dollar was range bound in N.Y. on Tuesday, though ultimately ended modestly lower overall. The DXY touched 90.54 highs early in the session, later easing under 90.30 in relatively quiet trade, after being unable to breach Monday’s three-week high of 90.72. There were no major data releases to move markets. Risk-taking levels were narrowly… Read more »

XE Market Analysis: North America – Jan 12, 2021

The dollar has taken a step back, correcting some of the gains that have been seen since it become clear that the Democrats in the U.S. were going to control the Senate, in addition to the Presidency and House. Some narratives attributed this in part to reportedly large demand for China’s yuan, linked to the… Read more »

XE Market Analysis: Europe – Jan 12, 2021

The dollar fell back, correcting some of the gains that have been seen since it become clear that the Democrats in the U.S. were going to control the Senate, in addition to the Presidency and House. Some narratives attributed this in part to reportedly large demand for China’s yuan, linked to the proximity of the… Read more »

Aussie dollar starts 2021 at three-year highs

Buoyed by general weakening in the US currency and continued strong energy and mineral commodity prices, the Australian dollar has started the year on a bullish note. After finishing 2020 at around US76.2c, the A$ has surged, hitting almost US78.2c last Wednesday, reaching a 33-month high. Source: Beef Central Aussie dollar starts 2021 at… Read more »

XE Market Analysis: Asia – Jan 11, 2021

The Dollar rallied to three-week highs in early N.Y. trade, taking the DXY to 90.72, up from overnight lows of 90.03. The Greenback later pared gains, as Wall Street posted losses, albeit from record closing highs on Friday. USD price action has shifted since the middle of last week, as higher interest rates, and prospects… Read more »

XE Market Analysis: North America – Jan 11, 2021

The dollar has put in more rebound distance from the major-trend lows seen against the euro, yen, dollar bloc, and many other currencies a week ago. The U.S. currency has rallied on each trading day since the Georgia runoff elections, when it became clear that the Democrats would control the Senate. This has seen Treasury… Read more »

XE Market Analysis: Europe – Jan 11, 2021

The dollar has continued to rise, putting in more distance from the major-trend lows seen against the euro, yen, dollar bloc, and many other currencies a week ago. The U.S. currency has rallied on each trading day since the Georgia runoff elections, when it became clear that the Democrats would control the Senate. This has… Read more »

XE Market Analysis: Asia – Jan 08, 2021

The Dollar continued to head higher in Friday afternoon trade, marking its third day of advances. The weaker jobs report took the USD to session lows, with nonfarm payrolls turning negative for the first time since April, though the jump in earnings offset to a degree, allowing the Greenback to recover. Later, the pullback on… Read more »

XE Market Analysis: North America – Jan 08, 2021

The dollar’s correlative pattern with stock markets has inverted, with the currency now rising in step with rallying global stock markets. The catalyst for the change was the Democrat wins in the Georgia runoff elections, which heralds the prospect of much greater deficit spending and warranting higher growth expectations for the U.S. economy. U.S. Treasury… Read more »

XE Market Analysis: Europe – Jan 08, 2021

The dollar’s correlative pattern with stock markets has inverted, with the currency now rising in step with rallying global stock markets. The catalyst for the change was the Democrat wins in the Georgia runoff elections, which heralds the prospect of much greater deficit spending and warranting higher growth expectations for the U.S. economy. U.S. Treasury… Read more »

XE Market Analysis: Asia – Jan 07, 2021

The Dollar rallied for the second day on Thursday, though the bulk of gains came ahead of the N.Y. open. Higher Treasury yields, and prospects for stronger U.S. growth in the coming months due to what will likely be ramped up spending by Democrats now that they are in charge, have driven the USD up… Read more »

XE Market Analysis: North America – Jan 07, 2021

The dollar has rebounded out of the major-trend lows that were seen yesterday. The DXY dollar index posted a three-day high at 89.95, up from yesterday’s 33-month low at 89.21, while EUR-USD dropped over 0.5% to the mid 1.2200s while USD-JPY rallied to a nine-day high at 103.71. Markets have been discounting the upcoming Biden… Read more »

XE Market Analysis: Europe – Jan 07, 2021

The dollar has found a footing after posting fresh losses yesterday, despite risk appetite holding up in Asian markets and into European trading. The DXY dollar index has inched above 89.50 after yesterday posting a 33-month low at 89.21. Markets are digesting the largely unexpected outcome in the two Georgia runnoff elections, which were won… Read more »

XE Market Analysis: Asia – Jan 06, 2021

The Dollar rallied in morning N.Y. trade on Wednesday, despite risk-on conditions. The prospect of further massive fiscal stimulus under a Democrat controlled government boosted Wall Street, and weighed heavily on Treasuries, taking yields sharply higher, and likely providing some support to the USD. Bigger picture, more stimulus and nascent inflation concerns will likely keep… Read more »

XE Market Analysis: North America – Jan 06, 2021

The dollar has tumbled to fresh major-trend lows as markets discount a possible Democrat sweep, with one of its Senate candidates, Warnock, having been declared winner in one of the two Georgia runoff elections, and the other, Ossoff, showing a slim lead in the vote count so far in the other election. Democrats need to… Read more »

XE Market Analysis: Europe – Jan 06, 2021

The dollar has tumbled to fresh major-trend lows as markets discount a possible Democrat sweep, with one of its Senate candidates, Warnock, having been declared winner in one of the two Georgia runoff elections, and the other, Ossoff, showing a slim lead in the vote count so far in the other election. Democrats need to… Read more »

XE Market Analysis: Asia – Jan 05, 2021

The Dollar came under modest pressure in N.Y. on Tuesday, with the safe-haven currency weighed down by a moderate risk-on backdrop. Wall Street headed higher, despite the uncertainty of Tuesday’s Georgia Senate runoff elections. A better than expected December manufacturing ISM helped the USD briefly, and aided stocks as well, though the sharply higher ISM… Read more »

XE Market Analysis: North America – Jan 05, 2021

The dollar has been trading steadily so far today after yesterday rebounding quite sharply from 33-month lows. This has come amid a backdrop of sputtering stock markets, with narratives ascribing today’s two runoff elections in Georgia, which has existential implications for the incoming Biden administration (as the result will decide whether Democrats or Republicans will… Read more »

XE Market Analysis: Europe – Jan 05, 2021

The dollar has been trading steadily so far today after yesterday rebounding quite sharply from 33-month lows. This has come amid a backdrop of sputtering stock markets, with narratives ascribing today’s two runoff elections in Georgia, which has existential implications for the incoming Biden administration (as the result will decide whether Democrats or Republicans will… Read more »

XE Market Analysis: Asia – Jan 04, 2021

The Dollar headed modestly higher in N.Y. on Monday, seeing the DXY recover from fresh 33-month lows of 89.42 to a high of 89.92. A sharp bout of risk-off supported the USD, as Wall Street started the year with sharp losses, driven by profit taking from record highs, spiking Covid cases, and angst ahead of… Read more »

XE Market Analysis: North America – Jan 04, 2021

The dollar has started the new year where it left off last year, and that is with a softening bias. This comes against the backdrop of a coursing “everything rally”, with the MSCI Asia-Pacific equity indexand S&P 500 futures hitting record highs. Base metals and oil prices also rallied. The dollar itself is correlating inversely… Read more »

XE Market Analysis: Europe – Jan 04, 2021

The dollar has started the new year with a declining bias, which is of course where it left off last year. This comes against the backdrop of a coursing “everything rally”, with the MSCI Asia-Pacific equity indexand S&P 500 futures hitting record highs. Base metals and oil prices also rallied, and the main crypto currencies… Read more »

XE Market Analysis: Asia – Dec 31, 2020

N.Y. FX trade was very quiet on the last day of the year, though the Dollar managed modest gains through the morning session. The DXY has made new trend lows of 89.52 in overnight Asian trade, though managed to rebound to 89.94 highs into the London close. The weekly jobless claims data likely helped USD… Read more »

XE Market Analysis: North America – Dec 31, 2020

The DXY dollar index has posted another major-trend low, at 89.52, a level last traded in April 2018. The dollar has continued to correlate inversely with global stock market direction, with weakness today being concomitant with the MSCI Asia Pacific rising to a new record high in holiday-thinned conditions. The DJIA yesterday closed at a… Read more »

XE Market Analysis: Asia – Dec 30, 2020

The Dollar was lower in N.Y. on Wednesday, seeing the DXY hit new 33-month lows of 89.56 early in the session, down from 90.02 after the close on Tuesday. The greenback later recovered modestly in light afternoon trade. Prospects for further fiscal stimulus weighed on the USD, while softer incoming data didn’t help either. The… Read more »

XE Market Analysis: North America – Dec 30, 2020

The DXY dollar index posted a new 32-month low at 89.68, while EUR-USD concurrently printed a 32-month high at 1.2295. USD-JPY saw a nine-day low, at 103.12. The pair’s near-10-month low, seen on December 17th, is at 102.88. The Australian and New Zealand dollars posted respective 30- and 32-month highs against their U.S. peer. AUD-JPY… Read more »

XE Market Analysis: Asia – Dec 29, 2020

The Dollar was lower in N.Y. on Tuesday, weighed down by the signing of the stimulus bill, and prospects for direct payments to individuals to rise to $2,000 from $600. The U.S. House voted to increase the amount of payments, while the Senate is expected to vote on the measure at some point on Tuesday… Read more »

XE Market Analysis: Asia – Dec 28, 2020

FX trade was thin in N.Y. on Monday, as London and parts of the continent remained on Christmas break. Price action was choppy, though the USD overall ended mostly higher. The only data release was the December Dallas Fed index, which was lower than expected, but ultimately had little market impact. The last week of… Read more »

XE Market Analysis: Asia – Dec 23, 2020

The Dollar fell through the morning session in N.Y. on Wednesday, which saw the DXY fall from 90.58 highs early in the session to 90.16 after the last of the heavy data slate was released. Friday’s U.S. reports were disappointing overall, and the mix of weaker income, consumption and home sales weighed on the USD…. Read more »

XE Market Analysis: North America – Dec 23, 2020

The euro has been heavy, edging out a five-day low against the pound, and a two-day low versus the yen while nearing yesterday’s low in the case against the dollar. The common currency has been a popular long against the dollar in recent weeks, and prevailing weakness may be reflecting some late hedging of positions… Read more »

XE Market Analysis: Europe – Dec 23, 2020

The euro has been heavy, edging out a five-day low against the pound, and a two-day low versus the yen while nearing yesterday’s low in the case against the dollar. The common currency has been a popular long against the dollar in recent weeks, and prevailing weakness may be reflecting some late hedging of positions… Read more »

XE Market Analysis: Asia – Dec 22, 2020

The Dollar moved broadly higher in N.Y. on Tuesday, taking the DXY from 90.04 lows at the open to 90.70 in late morning. The risk backdrop remained a bit soggy, as threats of further Covid lockdowns kept Wall Street capped, despite the passing the the $900 bln U.S. aid package. This supported the USD, as… Read more »

XE Market Analysis: North America – Dec 22, 2020

The dollar has traded moderately firmer, and the pound has drifted lower, though the U.S. currency has remained comfortably above its Monday lows while the UK currency has remained well off the lows it saw yesterday. News that the EU has rejected the UK’s latest offer on fishing (which was a 35% reduction in the… Read more »

XE Market Analysis: Europe – Dec 22, 2020

The dollar has traded moderately firmer, though has remained off highs seen during yesterday’s whippy price action. The combo of market-jolting news and thin year-end markets exacerbated the strong up-then-down price action that the dollar experienced yesterday, with the currency having now settled at moderately firmer levels. The dollar bloc and other cyclical currencies have… Read more »

XE Market Analysis: Asia – Dec 21, 2020

The DXY rallied to seven-session highs of 91.01 overnight, with safe-haven buying supporting the Dollar following reports of a new, more transmissible strain of Covid in the U.K., which prompted widespread lockdowns there, and a rush to less risky assets. Wall Street opened sharply lower, though later cut its losses, as reports circulated the new… Read more »

XE Market Analysis: North America – Dec 21, 2020

A sharp decline in the pound and a correction in the reflation trade, which has seen the dollar and yen rebound while cyclical currencies, including the dollar bloc, underperform, have characterized and unusually active Monday session, especially one that comes at the beginning of Christmas week. The pound has been negatively impacted by the EU… Read more »

XE Market Analysis: Europe – Dec 21, 2020

A sharp decline in the pound and a correction in the reflation trade, which has seen the dollar and yen rebound while cyclical currencies, including the dollar bloc, underperform, have characterized and unusually active Monday session, especially one that comes at the beginning of Christmas week. The pound has been negatively impacted by the EU… Read more »

XE Market Analysis: Asia – Dec 18, 2020

The Dollar ended the week on a firmer footing, after having a pretty tough week overall. The DXY bounced from 89.83 seen at the open, to a high of 90.13 in late morning. USD short covering was the likely driver of the move, as positions were pared into the weekend, and the Christmas shortened week… Read more »

XE Market Analysis: North America – Dec 18, 2020

The dollar has found its feet, concomitantly with global equity markets coming off the boil. Some market narratives have pinned this on news that Pfizer will under-deliver vaccine doses to the U.S. next week, though the Moderna vaccine will reportedly win FDA approval today. News that the U.S. is blacklisting more Chinese companies has been… Read more »

XE Market Analysis: Europe – Dec 18, 2020

The dollar has found its feet, concomitantly with global equity markets coming off the boil. Some market narratives have pinned this on news that Pfizer will under-deliver vaccine doses to the U.S. next week, though the Moderna vaccine will reportedly win FDA approval today. News that the U.S. is blacklisting more Chinese companies has been… Read more »

XE Market Analysis: Asia – Dec 17, 2020

The Dollar fell to new trend lows on Thursday in N.Y., taking the DXY to 89.76, the first time under the 90.00 mark since April of 2018. Prospects for another fiscal stimulus package, along with a “lower for longer” Fed, and negative real U.S. interest rates will likely continue to result in further USD losses… Read more »

XE Market Analysis: North America – Dec 17, 2020

The dollar posted fresh trend lows as the ‘2021 reflation trade’ ensued. The MSCI Asia-Pacific index hit a new record high, as did S&P 500 futures, while Europe’s Stoxx 600 posted a nine-month high. Commodities gained, with Brent oil prices posting new nine-month highs above $51.00, while base metals rallied, although prices remained off recent… Read more »

XE Market Analysis: Europe – Dec 17, 2020

The dollar posted fresh trend lows as the ‘2021 reflation trade’ ensued. The MSCI Asia-Pacific index hit a new record high, as did S&P 500 futures. Commodities gained, with Brent oil prices posting new nine-month highs above $51.00, while base metals rallied, although prices remained off recent trend highs. Against this backdrop, the DXY dollar… Read more »

XE Market Analysis: Asia – Dec 16, 2020

FX trade was quiet ahead of the FOMC in N.Y. on Wednesday, with the USD moving slightly higher through the morning session. The Dollar headed to session highs following the FOMC announcement, which saw no change in interest rates, as widely expected, though made no changes to its asset purchase program. The Fed did not… Read more »

XE Market Analysis: North America – Dec 16, 2020

The dollar has seen a renewed decline, which has come amid a backdrop of risk-on positioning in global markets with investors not waiting to participate in the ‘2021 reflation trade’. The DXY dollar index dropped to a new 32-month low at 90.13. EUR-USD concurrently rallied above 1.2200 for the first time since April 2018. USD-JPY,… Read more »

XE Market Analysis: Europe – Dec 16, 2020

The DXY dollar index has remained heavy, testing the 32-month low at 90.43. EUR-USD has concurrently been holding firm, though has remained off its 32-month highs at 1.2177-78. USD-JPY, now amid its fourth down day out of the last five, has ebbed to a five-week low at 103.42. As we have noted before, real interest… Read more »

XE Market Analysis: Asia – Dec 15, 2020

The Dollar edged lower in N.Y. trade on Tuesday, seeing the DXY match the 32-month low of 90.42 printed on Monday. FX trade was quiet overall, and activity will likely continue to shrink into the end of the year. Risk-on conditions weighed on the safe-haven USD, as equities rallied on renewed hopes for a fiscal… Read more »

XE Market Analysis: North America – Dec 15, 2020

Narrow ranges have been prevailing among the main dollar pairings and associated cross rates. This has been seen against a backdrop of sputtering global stock markets. Data showing Chinese industrial production rising 7.0% y/y in November, a 20-month high, along with a rise retail sales, didn’t have much impact. Commodities have also been lacking direction… Read more »

XE Market Analysis: Europe – Dec 15, 2020

Narrow ranges have been prevailing among the main dollar pairings and associated cross rates. This has been seen against a backdrop of sputtering global stock markets. Data showing Chinese industrial production rising 7.0% y/y in November, a 20-month high, along with a rise retail sales, didn’t have much impact. Commodities have also been lacking direction… Read more »

XE Market Analysis: Asia – Dec 14, 2020

The Dollar headed lower overnight, leaving the DXY at near a 33 month base of 90.43 early in N.Y. on Monday. The initial rollout of Covid vaccines in the U.S. appeared to have given the USD a brief boost, taking the Dollar index to 90.84 highs. FX trade slowed considerably by late morning, leaving major… Read more »

XE Market Analysis: North America – Dec 14, 2020

The pound has rallied by over 1.5% against the dollar, and by over 1% in the cases against the euro and yen. This comes with the EU and UK announcing agreeing to extend trade negotiations. Leaders had last week set yesterday as being the make or break moment. Neither side was willing to walk away,… Read more »

XE Market Analysis: Europe – Dec 14, 2020

The pound has rallied by over 1% against the dollar and yen, and by nearly 1% against the euro. This comes with the EU and UK announcing agreeing to extend trade negotiations. Leaders had last week set yesterday as being the make or break moment. Neither side was willing to walk away, and evidently both… Read more »

XE Market Analysis: Asia – Dec 11, 2020

The Dollar bounced modestly in overnight trade, and for the most part, held those gains through the N.Y. session on Friday. Ranges remained relatively narrow, however, into the weekend. The DXY moved from 90.62 in London morning trade, later topping at 92.04 into the open. Incoming data saw core November PPI a bit on the… Read more »

XE Market Analysis: North America – Dec 11, 2020

The dollar rallied out of intraday lows as European stock markets and U.S. equity futures turned quite sharply lower. Asian markets fared better, while base metals and oil prices slipped. The risk of a no-deal outcome between the EU and UK in the Brexit endgame has risen markedly, while in the U.S. Democrat House Speaker… Read more »

XE Market Analysis: Europe – Dec 11, 2020

The dollar has softened against most currencies, with most stock markets, and oil prices, rising in Asia, although overall risk appetite in global markets is relatively more subdued compared to recent times. Base metal prices are below trend highs, and European and U.S. equity index futures are flat or modestly lower. The risk of a… Read more »

XE Market Analysis: Asia – Dec 10, 2020

The Dollar was mostly lower in N.Y. on Thursday, dented early on by worse than expected initial and continuing jobless claims. The DXY fell from 91.15 into the open, later bottoming at 90.67 before recovering modestly. The only other data point was November CPI which came in a touch warmer than consensus. Wall Street was… Read more »

XE Market Analysis: North America – Dec 10, 2020

The pound underperformed while the dollar bloc outperformed, and the DXY dollar index lifted to a three-day low. Yen weakness was another theme, with USD-JPY rising to eight-day highs above 104.50, and AUD-JPY and CAD-JPY pushing to respective three- and six-month highs. Source: XE news feed XE Market Analysis: North America – Dec 10,… Read more »

XE Market Analysis: Europe – Dec 10, 2020

Sterling is under pressure after three hours of “lively and interesting” talks between UK PM Johnson and the European Commission President von der Leyen, and their chief negotiators, last night failed to find a way round “significant obstacles.” Talks will continue, and a new deadline has been set for Sunday, with the leaders promising that… Read more »

XE Market Analysis: Asia – Dec 09, 2020

The Dollar found some traction in N.Y. on Wednesday, seeing the DXY peak at 91.20, up from 90.77 early in the session. A soggy risk backdrop provided some support to the USD, following more than a month of surging global equity markets, which weighed heavily on the Greenback during that time. The Dollar may continue… Read more »

XE Market Analysis: North America – Dec 09, 2020

The dollar and yen have traded softer against most other currencies as risk appetite picked back up. All three of the principal U.S. equity indices hit all time highs yesterday, with the S&P 500 and Nasdaq closing at record high levels. Their respective futures are showing moderate gains in overnight trading. The pan-Europe Stoxx 600… Read more »

XE Market Analysis: Europe – Dec 09, 2020

The dollar and yen have traded softer against most other currencies as risk appetite picked back up. All three of the principal U.S. equity indices hit all time highs yesterday, with the S&P 500 and Nasdaq closing at record high levels. Their respective futures are showing moderate gains in overnight trading. The MSCI Asia-Pacific (ex-Japan)… Read more »

XE Market Analysis: Asia – Dec 08, 2020

Overall, the Dollar was slightly firmer in N.Y. on Tuesday, though traded ranges were narrow, and activity muted. The DXY headed from early lows of 90.79 to a high of 91.01 at mid-morning. Aside from revised Q3 productivity and unit labor cost revisions, which were largely ignored, there was no market moving data released. Wall… Read more »

XE Market Analysis: North America – Dec 08, 2020

The pound has traded softer on Brexit anxiety, but not dramatically so and the currency has remained above lows seen yesterday against the dollar, euro and other currencies. Dollar pairings and cross rates have outside the involvement of sterling, remained directionally unvaried. Price action in global asset markets continued to reveal a level of risk… Read more »

XE Market Analysis: Europe – Dec 08, 2020

Sterling has traded softer on Brexit anxiety, but not dramatically so and the currency has remained above lows seen yesterday against the dollar, euro and other currencies. Dollar pairings and cross rates have outside the involvement of the pound, remained directionally unvaried. Price action in global asset markets continued to reveal a level of risk… Read more »

XE Market Analysis: Asia – Dec 07, 2020

The Dollar showed signs of a rally in overnight trade, though USD sellers quickly emerged at the N.Y. open, taking the DXY from 91.24 highs to 90.71 lows. Brexit uncertainty saw risk-taking levels sink, leaving Wall Street mostly lower, and Treasury yields under pressure. In addition, Covid worries remained, as cases and deaths in the… Read more »

XE Market Analysis: North America – Dec 07, 2020

The dollar and yen found their feet while the pound dropped sharply on no-deal Brexit anxiety, and the dollar bloc currencies put in a rotation lower amid a backdrop of risk-cautious sentiment in global markets. Global stock markets mostly traded lower, as did oil and other commodities. Regarding sterling, the currency shed over 1% against… Read more »

XE Market Analysis: Europe – Dec 07, 2020

Currency markets have been directionally uneventful, which is typical in early-week trading, especially in a December. The DXY dollar index has settled above the 32-month low see on Friday at 90.48. The nine-month dollar downtrend resumed over the last month after about a two month hiatus. We anticipate there is more to come in this… Read more »

XE Market Analysis: Asia – Dec 04, 2020

The DXY printed fresh 32-month lows of 90.48 in early N.Y. trade on Friday, posting its eighth-consecutive lower daily low in the process. Risk-on conditions prevailed, resulting in some USD selling, though the major driver of recent USD losses appeared to be Covid vaccine hopes, where widespread distribution over the next few months is expected… Read more »

XE Market Analysis: North America – Dec 04, 2020

The euro outperformed moderately during the London morning session, and was showing a 0.5% gain on the weakest of the main currencies, the Australian dollar. Both EUR-USD and EUR-JPY tested their respective 32- and three-month highs from yesterday, though neither the pair nor the cross exceeded these levels. Global asset markets remained buoyant, with European… Read more »

XE Market Analysis: Europe – Dec 04, 2020

Currencies have settled in relatively narrow ranges so far today, with the dollar and yen consolidating recent sharp declines. Global asset markets have remained buoyed, though mixed. The main U.S. equity indices hit fresh highs yesterday and copper prices today posted new near-seven-year highs today in Asia trading. South Korea’s KOPSI pegged a new record… Read more »

XE Market Analysis: Asia – Dec 03, 2020

Another day, another 32-month DXY low, as the Dollar continues to be hammered broadly. Negative real U.S. interest rates, along with prospects for another round of U.S. fiscal stimulus, along with hopes that the global economy will rebound quickly once Covid vaccines are widely available, have all conspired against the USD. Today’ incoming U.S. data… Read more »

XE Market Analysis: North America – Dec 03, 2020

The DXY dollar index posted a fresh 32-month low at 90.84. The index is amid its third consecutive down week, and the dollar has declined in four of the last five weeks. Global asset markets have come off the boil, and many market narratives are talking about the good news on Covid vaccines and the… Read more »

XE Market Analysis: Europe – Dec 03, 2020

The DXY dollar index posted a fresh 32-month year low at 90.93. The index is amid its third consecutive down week, and the dollar has declined in four of the last five weeks. Global asset markets have come off the boil, and many market narratives are talking about the good news on Covid vaccines and… Read more »

XE Market Analysis: Asia – Dec 02, 2020

The Dollar attempted to move higher through the London morning session, though again came under pressure through the N.Y. session. The DXY touched lows not seen since April of 2018, bottoming at 91.11, and down from opening highs of 91.50. USD losses came on the back of a largely disappointing ADP jobs report. Wall Street… Read more »

XE Market Analysis: North America – Dec 02, 2020

The dollar and yen have remained soft versus most other currencies, although caution emerged in global asset markets. EUR-USD broke higher over the last day and today extended to a new 32-month high at 1.2089. Demand for euros was notable yesterday, and followed eurozone inflation data for November that came in below expectations in posting… Read more »

XE Market Analysis: Europe – Dec 02, 2020

The dollar and yen have remained soft versus most other currencies, although some caution emerged in global asset markets after a fresh rally yesterday. EUR-USD broke higher over the last day and today extended to a new 32-month high at 1.2089. Demand for euros was notable yesterday, and followed eurozone inflation data for November that… Read more »

XE Market Analysis: North America – Dec 01, 2020

The dollar and yen came back under pressure as risk-on positioning in global markets resumed. Most of the main dollar pairings and cross rates remained with recent ranges, though NZD-JPY saw a new one-year high, even as NZD-USD remained just off the 30-month high that was seen yesterday. Cable briefly traded above 1.3400 for the… Read more »

XE Market Analysis: Europe – Dec 01, 2020

The dollar and yen came back under pressure as risk-on positioning in global markets resumed. Most of the main dollar pairings and cross rates remained with recent ranges, though NZD-JPY saw a new one-year high, even as NZD-USD remained just off the 30-month high that was seen yesterday. The MSCI Asia-Pacific (ex-Japan) equity index rose… Read more »