Category: Commodities & Markets News

Commodities and financial market news from external sources.

XE Market Analysis: North America – Dec 11, 2019

The dollar has seen ranges of no more than 20 pips against both the euro and yen so far today, while posting losses to the Australian dollar and the pound. Source: XE news feed XE Market Analysis: North America – Dec 11, 2019

XE Market Analysis: Europe – Dec 11, 2019

The pound has taken a rotation lower following the latest YouGov poll, using its famed MRP methodology (massive survey size and deep analysis to take in account of local factors), and which was the model which correctly called 93% of seats in the 2017 election, showed that a smaller Conservative majority of 28 seats is… Read more »

XE Market Analysis: Asia – Dec 10, 2019

The Dollar was touch lower in N.Y. trade on Tuesday, though the DXY remained inside of the week’s range so far, basing at 97.44 from highs of 97.60 seen during the morning session. A report that the U.S. and China are discussing delaying new U.S. tariffs set to kick off this Sunday, and the USMCA… Read more »

XE Market Analysis: Europe – Dec 10, 2019

The New Zealand dollar posted a fresh four-month high versus the Australian dollar, while NZD-USD and NZD-JPY saw two-day highs. A shift in RBNZ policy expectations and an associated rise in NZ yields have been underpinning the kiwi. The 10-year U.S. T-note yield advantage relative to the NZ 10-year yield has narrowed by some 15… Read more »

XE Market Analysis: Asia – Dec 09, 2019

The Dollar perked up a bit in N.Y. on Monday, after losing some ground overnight. The DXY remained under Friday’s post-jobs report high, with ranges overall remaining narrow. There was no incoming data to drive the FX market, and we now look for some consolidation ahead of Wednesday’s FOMC announcement, and Thursday’s ECB meeting. Wall… Read more »

XE Market Analysis: North America – Dec 09, 2019

The dollar lost ground to the yen and pound, while consolidating gains seen on Friday against the euro and Canadian dollar, among other currencies. The narrow trade-weighted USD index (DXY) was little changed heading into the New York interbank open after rallying nearly 0.5% on Friday. The yen picked up a safe haven bid as… Read more »

XE Market Analysis: Europe – Dec 09, 2019

The pound rallied to new highs as two new polls show the Conservative party extending its lead over Labour. The late debate between PM Johnson and Labour’s wannabe PM, Corbyn, was considered a draw, too, according to a poll by YouGov, suggesting that, with three days to go until the UK general election, there is… Read more »

XE Market Analysis: Asia – Dec 06, 2019

The Dollar rallied in N.Y. trade on Friday, cutting a string of five-straight sessions of losses. A stronger than expected November jobs report, along with outsized gains in the University of Michigan December consumer sentiment index drove the USD higher. Wall Street and Treasury yields reacted as well, both moving higher. The Greenback later faded… Read more »

XE Market Analysis: North America – Dec 06, 2019

A firmer yen and a rallying New Zealand dollar were the main shows in an otherwise quite town ahead of the release of the U.S. November employment report. The yen nudged higher despite gains in global stock markets, with position jigging seen into the release of the U.S. November employment report. USD-JPY printed a two-day… Read more »

XE Market Analysis: Europe – Dec 06, 2019

The yen has nudged modestly higher despite gains in Asian stock markets. USD-JPY printed a two-day low at 108.65. The Japanese currency also saw a two-day low versus the Canadian dollar, but remained above respective Thursday lows against the euro, sterling and other currencies in overall non-committal markets into the release of the November U.S. … Read more »

XE Market Analysis: Asia – Dec 05, 2019

The Dollar posted its fourth consecutive day of losses on Thursday, though ranges were tight, leaving the DXY at a one-month low of 97.36. Incoming U.S. data was decent, but went little way to support the USD. The trade deficit narrowed, jobless claims were lower, while factory orders were in-line with expectations. Trade uncertainty has… Read more »

XE Market Analysis: North America – Dec 05, 2019

The dollar has traded mixed so far today, losing ground the pound, which continued to outperform as markets factor in a Conservatives-with-majority outcome in next week’s general election in the UK, holding near steady versus the euro, gaining on the yen, which retained a heavy tone amid a backdrop of buoyant stock markets. The dollar… Read more »

XE Market Analysis: Europe – Dec 05, 2019

Sterling has continued to unwind its Brexit discount at a pace, with Cable hitting a new seven-month high and EUR-GBP a 31-month low in early London trading. With just a week to go until the UK’s general election, it’s looking increasingly unlikely that Labour will close the popularity gap with PM Johnson’s Conservative party. Politico’s… Read more »

XE Market Analysis: Asia – Dec 04, 2019

The Dollar lost ground through the morning session in N.Y. on Wednesday, with declines coming on the back of a weaker ADP employment survey, and a miss in the services ISM. The USD later bounced some, as risk-on conditions prevailed. Wall Street and Treasury yields were higher following a Bloomberg report that a phase-one U.S./China… Read more »

XE Market Analysis: North America – Dec 04, 2019

The yen came under pressure as a risk-on trade broke out in global markets, with stock markets and high beta assets and currencies rallying and safe haven assets and currencies falling back. The catalyst was a Bloomberg report, citing U.S. officials who are in the loop of the trade negotiations with China saying that progress… Read more »

XE Market Analysis: Europe – Dec 04, 2019

The yen has rallied on a safe-haven bid as global stock markets turn lower after President Trump, nearly two months after announcing the limited “phase 1” trade deal with China, said that trade negotiations may be postponed until after the 2020 presidential election. This after announcing intentions to tariff steel imports from Brazil and Argentina…. Read more »

XE Market Analysis: Asia – Dec 03, 2019

The Dollar fell broadly again in N.Y. trade on Tuesday,leaving the DXY at one-month lows of 97.65, down from 97.85 at the open, and 98.38 at Monday’s peak. There was no data today, though fallout from Monday’s weak manufacturing ISM and slide in construction spending continued to a degree. A fresh eruption of trade fears… Read more »

XE Market Analysis: North America – Dec 03, 2019

The dollar saw its biggest one-day drop in about two months yesterday, by the measure of the narrow trade-weighted USD index (DXY). The index also extended lower today, printing a 12-day low at 97.75. The Fed’s inflation-adjusted broad effective exchange rate continues to trade near, although off, three-year highs following an 8% rally from early… Read more »

XE Market Analysis: Europe – Dec 03, 2019

The dollar has consolidated losses seen yesterday following the unexpected four-consecutive month of contraction in the November ISM manufacturing report out of the U.S. A side theme has been Australian dollar outperformance, while most of the other main currencies have traded neutrally so far today. Asia equities went negative, following Wall Street’s dive, though indices… Read more »

XE Market Analysis: Asia – Dec 02, 2019

Weak manufacturing ISM and construction spending conspired against the Dollar and Wall Street in N.Y. on Monday,taking the DXY to eight session lows of 97.82 from 98.38 into the open. The data, along with talk of the imposition of U.S. tariffs on Brasil and Argentina dented sentiment, while hopes for a phase one trade deal… Read more »

XE Market Analysis: North America – Dec 02, 2019

The dollar has traded mixed, gaining on the yen, which continued to underperform, posting fractional gains versus the euro and sterling, the latter of which was suppressed by the latest political polling ahead of the UK’s upcoming general election, while losing ground to the Australian and New Zealand dollars, which have outperformed so far today…. Read more »

XE Market Analysis: Europe – Dec 02, 2019

The yen softened amid a cautious risk-on theme in markets, which lifted stock markets in Asia moderately. While concerns remain about progress in U.S.-China trade talks ahead of a December-15 deadline for a tariff hike, with U.S. legislation on Hong Kong human rights souring relations, Chinese manufacturing PMI surveys came in better than expected. The… Read more »

XE Market Analysis: Asia – Nov 29, 2019

FX trade was very light on Friday, with many traders taking the day after Thanksgiving off. There was no data to drive prices, though the Dollar was mostly lower overall. The DXY pulled back from levels last seen on October 15, printing 98.54 early, before easing to 98.23 into the London close. EUR-USD rebounded from… Read more »

XE Market Analysis: North America – Nov 29, 2019

The dollar majors have remained without direction in light trading conditions. European stock markets found a footing today, but global stock markets have overall been in sputtering mode on concerns that the souring in U.S.-China relations over Hong Kong (where fresh large pro-democracy demonstrations are reportedly being planned for the weekend) will make trade-deal making… Read more »

XE Market Analysis: Europe – Nov 29, 2019

The main currencies have continued to trade without directional vigour and in low volumes. U.S. markets will be returning only for a half day today, which will keep volumes down after the Thanksgiving holiday yesterday (a so-called bridge weekend for many). Stock markets in Asia have continued to sputter lower, and S&P 500 futures are… Read more »

XE Market Analysis: Asia – Nov 28, 2019

The dollar bloc currencies traded softer as a flare up in U.S.-China relations spoilt markets appetite for risk. The yen also steadied above lows while global stock markets stalled after Beijing threatened as yet unspecified “firm counter measures” in response to President Trump’s signing of the Hong Kong Human Rights bill. A side theme of… Read more »

XE Market Analysis: North America – Nov 28, 2019

The dollar majors have been holding narrow ranges, though the pound still managed to carve out a fresh high against the dollar following a bellwether opinion poll showing PM Johnson’s Conservative party is on track to win the upcoming UK general election with a “sizeable” majority. Cable edged out a new now-week high (by 1… Read more »

XE Market Analysis: Europe – Nov 28, 2019

The pound has rallied to six-month highs against both the euro and yen, while printing a one-week high in the case against the dollar. The UK currency was given a boost by a much-watched poll, released late evening (UK time) yesterday, showing the Conservatives to be on course to win a working majority at the… Read more »

XE Market Analysis: Asia – Nov 27, 2019

The Dollar advanced early in the N.Y. session on Thursday, supported by a better than expected Q3 GDP revision, and stronger durable orders data. The DXY popped to 98.44 from 98.28 at the open. The Greenback reversed lower following the 10:00 EST round of data, where personal income missed the mark. FX activity slowed to… Read more »

XE Market Analysis: North America – Nov 27, 2019

The dollar has been trading mixed so far today, edging out a new high versus the euro and Swiss franc, holding firm against the yen, but losing ground to the pound and Canadian dollars. The U.S. currency also pared earlier gains versus the Australian dollar. This price action has come amid a backdrop of ongoing… Read more »

XE Market Analysis: Europe – Nov 27, 2019

The dollar has traded moderately firmer. The narrow trade-weighted USD index (DXY) rose fractionally to 98.35, which is 3 pips shy of the 13-day high seen on Monday, while EUR-USD ebbed to a 1.1008 low, which is 1 pip short of yesterday’s low and 5 pips short of the 13-day nadir seen on Monday. USD-JPY… Read more »

XE Market Analysis: Asia – Nov 26, 2019

FX trade was very quiet in N.Y. on Tuesday, with narrow ranges the rule for major Dollar pairings. The Greenback ended up pretty much flat overall, with the DXY inching higher to 98.37 early on, then falling back to 98.27 lows through the afternoon. As has been the case of late, there was little reaction… Read more »

XE Market Analysis: North America – Nov 26, 2019

A drop in the pound provided some directional action in an otherwise narrow trading ranges so far today. The yen managed to eke out fresh lows against the dollar and other currencies before finding a footing. The pound was showing a 0.4% loss against the euro as of the late London morning session, and was… Read more »

XE Market Analysis: Europe – Nov 26, 2019

The yen printed fresh lows as a cautious risk-on sentiment persisted in markets in Asia after the three major U.S. equity indices posted new record highs. Top U.S. and Chinese trade negotiators held a telephone conference yesterday, while China’s Global Times reported that the two sides were “moving closer to agreeing” a phase 1 deal… Read more »

XE Market Analysis: Asia – Nov 25, 2019

The Dollar was firmer overall in N.Y. trade on Monday, leaving the DXY at eight session highs of 98.36 into the close. The only data release of note was a softer Dallas Fed index, but it had little impact on markets. The Dollar, and Wall Street were supported by news that China would begin cracking… Read more »

XE Market Analysis: North America – Nov 25, 2019

The dollar firmed up during the London morning session, though lost ground to an underperforming pound, which benefited by the latest opinion polls showing PM Johnson’s Conservative party has increased its lead, while paring Asia-session losses against the dollar bloc currencies. The yen remained on a back foot, reflecting an unwinding in its safe-haven premium… Read more »

XE Market Analysis: Europe – Nov 25, 2019

The yen has weakened amid risk-on trading after Beijing pledged new measures to protect intellectual property. While many market narratives have a fatigued tone after repeated and often banal rhetoric with regard to progress being made six weeks after the “phase 1” deal was announced, the fact that neither side has walked away seems to… Read more »

XE Market Analysis: Asia – Nov 22, 2019

The Dollar ended the week at a six-session high, taking the DXY to 98.24 highs from early lows of 97.99. Incoming U.S. data were the drivers, leaving flash manufacturing and services ISMs at better than expected levels, and seeing the final November University of Michigan consumer sentiment rise to higher than consensus forecasts. Wall Street… Read more »

XE Market Analysis: North America – Nov 22, 2019

The dollar has been trading steady-to-firmer so far today, posting gains against the euro and the pound following weak flash November PMI data out of the UK and Eurozone. EUR-USD printed a one-week low at 1.1047 in the wake of the flash November PMI data out of the Eurozone, where disappointing services data outweighed an… Read more »

XE Market Analysis: Europe – Nov 22, 2019

Currencies have been seeing unremarkable movement against a backdrop of sputtering global stock markets. Mixed leads from the U.S.-China trade negotiation front has fostered a fatigue in markets. President Xi said today that China wants to work out an initial trade agreement and has been trying to avoid a trade war, but is also not… Read more »

XE Market Analysis: Asia – Nov 21, 2019

The Dollar was mostly higher in N.Y. trade on Thursday, supported by generally decent incoming U.S. data. Jobless claims were a touch higher, though the Philly Fed index showed improvement, and exiting home sales rose. Conflicting trade news kept risk-taking levels hemmed in, leaving Wall Street on either side of flat, and Treasury yields modestly… Read more »

XE Market Analysis: North America – Nov 21, 2019

A moderate risk-back-on tone replaced what had been a moderate risk-off theme in global markets. This saw the yen pare gains seen during the Tokyo session, inversely tracking a down-then-up price action in global equity market direction. A WSJ report, citing sources, that Beijing has proposed to the U.S. another round of face-to-face talks in… Read more »

XE Market Analysis: Europe – Nov 21, 2019

The yen edged out fresh highs before paring these gains against the dollar and dollar bloc currencies, with net directional change among the main currencies overall registering as minimal as the London interbank session got under way. USD-JPY posted a one-week low at 108.27 before recouping to near net unchanged levels above 108.50. AUD-JPY and… Read more »

XE Market Analysis: Asia – Nov 20, 2019

The Dollar was mixed in N.Y. on Wednesday, though largely range bound. There was no incoming data to drive the market, though a Reuters report indicated the so-called “Phase one” trade agreement between the U.S. and China, may not happen this year. This sent stocks and yields lower. EUR-USD continued its consolidation from Monday’s high,… Read more »

XE Market Analysis: North America – Nov 20, 2019

Risk-positioning has been underpinning the yen and the dollar. The biggest movers have been AUD-JPY and CAD-JPY, with respective daily losses of nearly 0.4%. Most developing-nation currencies were also showing declines. One standout mover has been the Canadian dollar, which has declined by about 1% from yesterday’s lows against the U.S. buck. A 4%-plus decline… Read more »

XE Market Analysis: Europe – Nov 20, 2019

The dollar and yen have firmed up amid a risk-off turn in global markets as tensions between the U.S. and China bubble up. The U.S. Senate yesterday passed a bill in support of Hong Kong’s pro-democracy protestors, to which Beijing responded sharply, accusing Washington of being ignorant of “facts and truths” while threatening retaliation for… Read more »

XE Market Analysis: Asia – Nov 19, 2019

The Dollar was range bound in N.Y. trade on Tuesday, leaving the DXY inside of Monday’s trading band. Incoming data was light, and an about as expected housing starts outcome had little impact on the markets. Risk off conditions prevailed, resulting in lower stocks and yields. Trade concerns was the main driver, as China said… Read more »

XE Market Analysis: North America – Nov 19, 2019

The dollar traded without direction, on net, while the yen weakened moderately during the London morning, concomitantly with rising equity markets in Europe. The Japanese currency still remained above recent lows, having firmed yesterday in the wake of the CNBC report yesterday citing Chinese government sources saying that Beijing is pessimistic about reaching a deal… Read more »

XE Market Analysis: Europe – Nov 19, 2019

The dollar has remained heavy against most of the other main currencies, although above the lows seen yesterday after CNBC reported that Beijing is pessimistic about reaching a deal with the U.S. One exception was the Australian dollar, with AUD-USD posting a four-day low at 0.6774 after the minutes to the RBA’s early November meeting… Read more »

XE Market Analysis: Asia – Nov 18, 2019

The Dollar fell in N.Y. trade on Monday, taking the DXY at two-week lows of 97.68, down from 97.96 highs seen at the open. There was little in the way of data to move the FX market, though reports that China may be having second thoughts on a trade deal knocked the Dollar, Treasury yields,… Read more »

XE Market Analysis: North America – Nov 18, 2019

The pound has rallied quite sharply, while the dollar and yen have underperformed among the other main currencies in early week trading so far. Cable printed a four-week high at 1.2985, which has drawn in the six-month high seen in last October at 1.3912. EUR-GBP has concurrently extended further into six-month low terrain, making low… Read more »

XE Market Analysis: Europe – Nov 18, 2019

Sterling has rallied on weekend polls showing PM Johnson’s Conservative Party having extended its lead in opinion polls. This strengthens the odds for the party to win the December-12 election and be returned to Parliament with a working majority, which in turn suggests that the Brexit deal on the table will be implemented in January,… Read more »

XE Market Analysis: Asia – Nov 15, 2019

The Dollar was lower into the weekend in N.Y. trade, taking the DXY to seven-session lows of 97.96. Incoming U.S. data overall missed expectations, which weighed on the USD. Ex-auto retails sales, industrial production, import prices, and the Empire State index were all weaker than consensus forecasts. Wall Street vaulted to new record highs on… Read more »

XE Market Analysis: North America – Nov 15, 2019

A risk-on positioning theme has been prevailing so far today, which has lifted global stock markets (Hong Kong and China excepted) and has seen the dollar and, more particularly, the yen ebb, while the likes of the Australian and Canadian dollars, along with many developing-world currencies, have risen. The euro has also managed to recoup… Read more »

XE Market Analysis: Europe – Nov 15, 2019

The dollar and yen have traded softer amid a backdrop of risk-on positioning. The S&P 500 posted yet another record closing high on Wall Street yesterday, and futures of the index are up 0.3% in overnight trading. Most Asian markets have also gained, though Hong Kong and Chinese markets flagged. Signals from the U.S.-China trade… Read more »

XE Market Analysis: Asia – Nov 14, 2019

The Dollar took a bit of a hit in N.Y. trade on Thursday, despite a warmer U.S. PPI outcome. Firmer jobless claims, along with generally risk-off conditions, which saw Treasury yields fall back, weighed on the Greenback to an extent. The DXY slipped back to 98.16, from pre-open levels of 98.42. EUR-USD posted trend lows… Read more »

XE Market Analysis: North America – Nov 14, 2019

Both the dollar and yen have seen fresh highs against a range of currencies, while the Australian dollar came under particular pressure following weak data out of Australia and China. The euro also posted fresh lows against most other currencies. All this came against a backdrop of sputtering global stock markets. The biggest movement among… Read more »

XE Market Analysis: Europe – Nov 14, 2019

Both the dollar and yen have continued to hold firm against most other currencies amid a backdrop of sputtering global stock markets. The Australian dollar dove following the release of Australia’s October employment report, which showed the unemployment rate ticking higher, to 5.3% from 5.2%. China’s industrial production growth also slowed sharply in October, to… Read more »

XE Market Analysis: Asia – Nov 13, 2019

The Dollar index posted fresh trend highs of 98.45 ahead of the N.Y. open on Wednesday, though settled inside a narrow range through the day. A slightly warmer CPI outcome had little impact on the USD, while a fall in Treasury yields as risk conditions faded, and a benign Powell speech weighed slightly on the… Read more »

XE Market Analysis: North America – Nov 13, 2019

The dollar has been putting in a mixed performance so far today posting fresh highs versus the euro and Canadian dollar while losing ground to the yen and Swiss franc, which outperformed most other currencies on a safe-haven bid amid wobbling global stock markets, and the New Zealand dollar, which surged by over 1% after… Read more »

XE Market Analysis: Europe – Nov 13, 2019

The New Zealand dollar surged by over 1% against the dollar and other currencies after the RBNZ surprised markets by refraining from cutting interest rates following its policy meeting today. NZ money market futures had been implying odds of 75% for the central bank to cut the benchmark rate to a new record low of… Read more »

XE Market Analysis: Asia – Nov 12, 2019

The DXY printed near one-month highs of 98.42 in morning N.Y. trade on Tuesday, later fading to 98.27 lows. There was no data to drive the FX market, though as Treasury yields pulled back some, the Dollar turned slightly lower. EUR-USD managed to print fresh trend lows of 1.1003, while USD-JPY was range bound over… Read more »

XE Market Analysis: North America – Nov 12, 2019

The dollar has firmed back some after declining moderately yesterday, which followed a phase of rising against most of the other main currencies (which started at the release of the unexpectedly robust October U.S. payrolls report). The narrow trade-weighted USD index (DXY) was a pip off the day’s high at 98.35 heading into the New… Read more »

XE Market Analysis: Europe – Nov 12, 2019

The yen took a rotation lower during pre-Europe trading in Asia as stock markets steadied after wobbling yesterday. A report in Politico saying that EU officials are expecting President Trump to confirm that he will delay hiking tariffs on EU cars and auto part imports for another six months, according to an EU source, gave… Read more »

XE Market Analysis: Asia – Nov 11, 2019

The dollar weakened on Monday, while the pound and yen outperformed on Brexit related news and on a sage-haven bid, respectively. The Australian dollar was also among the day’s underperformers. Wall Street corrected after posting record highs on Friday, and most equity markets across the world turned lower. President Trump said on Saturday that the… Read more »

XE Market Analysis: North America – Nov 11, 2019

The dollar has been trading with a softening bias so far in early week trading, correcting after posting gains against most other currencies last week. The narrow trade-weighhted USD index (DXY) has retraced over half of the gain it saw on Friday in making a low at 98.23. The index on Friday logged a 26-day… Read more »

XE Market Analysis: Europe – Nov 11, 2019

The yen has firmed up as risk aversion took a grip on markets in Asia as protests and the police response went next level amid reports that one protestor had been shot and killed. President Trump also said on Saturday that while trade talks with China were moving along “very nicely,” the U.S. would only… Read more »

XE Market Analysis: Asia – Nov 08, 2019

The DXY printed near four-week highs of 98.40 in N.Y. trade on Friday. There was little reaction to slightly softer than expected consumer sentiment numbers, and weaker wholesale data. The Dollar made gains against most major currencies, with the Yen the exception, which rallied modestly on a downturn in risk taking levels that were seen… Read more »

XE Market Analysis: North America – Nov 08, 2019

The dollar nudged higher during the late London morning session, while the yen also posted moderate gains against most currencies against a backdrop of sputtering stock markets in Europe. The narrow trade-weighted USD index (DXY) lifted to a 23-day high of 98.32 while EUR-USD concomitantly ebbed to a 23-day low, at 1.1026. The biggest mover… Read more »

XE Market Analysis: Europe – Nov 08, 2019

Narrow ranges have been seen so far today among the main currencies, which comes with a degree of uncertainty creeping back in with regard to the prospects of a “phase 1” trade deal being reached between the U.S. and China. There are reports of fierce internal opposition among members of the Trump administration, while there… Read more »

XE Market Analysis: Asia – Nov 07, 2019

The DXY rallied to better than three-week highs in N.Y. on Thursday, heading from pre-open lows of 97.82, to a mid-day peak of 98.23. Progress on the trade war front was a driver, as both the U.S. and China apparently agreed to roll-back tariffs over a yet unspecified period of time. Wall Street rallied to… Read more »

XE Market Analysis: North America – Nov 07, 2019

A burst of risk-on positioning sent global stocks higher and saw the both the dollar and yen turn lower after seeing fresh highs against the other main currencies during pre-European trading in Asia. China’s commerce ministry flicked the risk appetite switch back to “on” by stating that the U.S and China have agreed in principle… Read more »

XE Market Analysis: Europe – Nov 07, 2019

Both the dollar and yen dropped back quite sharply, the yen in particular, after seeing fresh highs against the other main currencies. This saw EUR-USD rally back to the 1.1075-80 area after making a three-week low at 1.1055 and EUR-JPY also jump from a three-week low, at 120.14, to levels above 120.60. Yen underperformance was… Read more »

XE Market Analysis: Asia – Nov 06, 2019

The dollar was mostly higher in N.Y. trade on Wednesday, taking the DXY to 97.98 highs from 97.78 early in the session. The index was unable to take out Tuesday’s one-week high of 98.01. Incoming data had little impact, with productivity and unit labor costs both missing consensus forecasts. Some safe-haven USD buying was noted… Read more »

XE Market Analysis: North America – Nov 06, 2019

The dollar and other currencies lacked direction as risk-on positioning that dominated since last Friday’s U.S. employment report lost steam. Valuations of many major equity indices have been left looking rich as investors take a more circumspect view about whether the 13th round of trade talks between the U.S. and China will produce a deal,… Read more »

XE Market Analysis: Europe – Nov 06, 2019

The dollar has been consolidating gains seen yesterday, which had been driven by more strong October data (non-manufacturing ISM, which backed up last week’s surprisingly solid employment report) and hopes a partial trade deal with China will be struck. The risk-on vibe that was coursing through global markets in the wake of last Friday’s U.S…. Read more »

XE Market Analysis: Asia – Nov 05, 2019

The Dollar traded higher in N.Y. on Tuesday, helped by a narrowed trade deficit,a better services ISM and sharply higher Treasury yields. The DXY rallied to one-week highs of 98.00, up from 97.65 at the open. EUR-USD fell to three-week lows of 1.1064 from London highs of 1.1140, as USD-JPY topped at a on-week top… Read more »

XE Market Analysis: North America – Nov 05, 2019

The dollar has been trading mixed against a backdrop of coursing risk-on positioning, losing ground to the dollar bloc while gaining on the yen, which underperformed. Sovereign bonds came under pressure as the main Asian and European stock indices rallied to fresh major-trend highs. USD-JPY rose to a five-day high at 108.89. EUR-JPY also made… Read more »

XE Market Analysis: Europe – Nov 05, 2019

The yen continued on a softening tack amid a backdrop of continued risk-on positioning in global markets, which have seen sovereign bonds come under pressure and stock markets rally. The main equity indices in Asia hit fresh trend highs today, while the Dow, S&P 500 and Nasdaq all hit new record highs on Wall Street… Read more »

XE Market Analysis: Asia – Nov 04, 2019

The Dollar was mostly higher in N.Y. trade on Monday, leaving the DXY up at 97.47 highs from pre-opening lows at 97.25. Slightly lower than expected U.S. factory orders had little impact. The Greenback maintained its bid tone, with fallout from last week’s stronger jobs report, and an FOMC that is solidly on hold going… Read more »

XE Market Analysis: North America – Nov 04, 2019

The dollar and yen saw fresh lows against the dollar bloc currencies, the euro and many developing world currencies, albeit in the context of narrow ranges. This came against a backdrop of coursing risk appetite amid positive signals from the U.S.-China and U.S.-EU trade fronts and following last week’s strong U.S. employment report and unexpected… Read more »

XE Market Analysis: Europe – Nov 04, 2019

A risk-on vibe saw the yen retain a soft tone while the Australian and New Zealand dollars benefited most out of the main currencies, and most developing world currencies posted gains against the dollar and yen. The South African rand rallied most sharply as markets reacted to on relief that Moody’s maintained South Africa’s investment-grade… Read more »

XE Market Analysis: Asia – Nov 01, 2019

The Dollar rallied in early N.Y. trade on Friday, supported by a better October U.S. employment report. The DXY rose to 97.45, up from overnight two-week lows of 97.17, though faded again after the October manufacturing ISM miss. The Dollar index later tested intra day lows. EUR-USD bottomed at 1.1128 after the jobs report, later… Read more »

XE Market Analysis: North America – Nov 01, 2019

The dollar pared losses seen during the Asia session and the early part of the European day as the release of the U.S. jobs report for October started to come into sharp focus. EUR-USD has been plying a narrow range in the mid 1.1100s, below the 11-day peak seen yesterday at 1.1175. The high was… Read more »

XE Market Analysis: Europe – Nov 01, 2019

The dollar has traded softer, which has pushed the narrow trade-weighted USD index (DXY) to an 11-day low at 97.20. Yesterday’s across-the-curve ebb in U.S. Treasury yields and recession-narrative fitting weak Chicago PMI data have weighed on the U.S. currency. Unexpected strength in China’s Caixin manufacturing PMI data restored some risk appetite in Asian stock… Read more »

XE Market Analysis: Asia – Oct 31, 2019

The Dollar attempted to rally some in N.Y. morning trade on Thursday, following decent incoming early data. A huge Chicago PMI miss however, saw early gains come unwound, taking the Greenback to near opening lows again. Risk-off conditions weighed heavily on USD-JPY, which dipped under the 108 mark for the first time in three weeks…. Read more »

XE Market Analysis: North America – Oct 31, 2019

The dollar posted fresh lows, extending losses that were imparted by the Fed’s policy guidance yesterday. The yen, meanwhile, outperformed amid a safe-haven driven rally that was catalyzed by a Bloomberg report citing ‘in the know’ sources saying that China is pessimistic that a comprehensive and long-term trade can can be made with the “impulsive”… Read more »

XE Market Analysis: Europe – Oct 31, 2019

The dollar has extended its post-Fed declines, which has seen the narrow trade-weighted USD index (DXY) print a one-week high at 97.29. EUR-USD pegged a 10-day high at 1.1170, Cable a one-week high at 1.2944, and AUD-USD a new three-month peak at 0.6929, extending the rise from the major trend lows seen in early October… Read more »

XE Market Analysis: Asia – Oct 30, 2019

FX trade was quiet ahead of the FOMC announcement, though the USD did perk up slightly early in the session following an in-line ADP jobs report, and a better than expected Q3 U.S. GDP outcome. Later, the Dollar traded slightly higher after the Fed cut interest rates by 25 basis points, as was widely expected…. Read more »

XE Market Analysis: North America – Oct 30, 2019

Both the dollar and yen ebbed against most other currencies, especially the euro, sterling and the Australian dollar, which have been moderate outperformers so far today. EUR-USD edged out a six-day high at 1.1123, and EUR-JPY posted a six-day peak. Cable also printed a six-day high, at 1.2905, and while GBP-JPY lifted, the cross remained… Read more »

XE Market Analysis: Europe – Oct 30, 2019

The dollar has been trading softer versus the Australian dollar, euro and sterling, while holding steady in narrow ranges against the yen and Canadian dollar, among other currencies. Political developments in the UK have, 1, put on a general election for December 12, and 2, prevented the spectre of a so-called ‘zombie’ parliament, with the… Read more »

XE Market Analysis: Asia – Oct 29, 2019

The Dollar fell through the N.Y. morning session on Tuesday, with gains in the Euro and Pound again weighing on the USD. News that the U.K. Labour Party, the principal opposition in the UK, will back a general election in early December was a driver of both GBP and EUR strength. Incoming U.S. data was… Read more »

XE Market Analysis: North America – Oct 29, 2019

The pound leapt upward in late London morning trading on news that the Labour Party, the principal opposition in the UK, will back a general election in early December, which now looks inevitable. Cable sprang to around 1.2870-75 from the low 1.2800s, and the UK currency posted gains versus other currencies. Source: XE news… Read more »

XE Market Analysis: Europe – Oct 29, 2019

The yen ebbed to fresh lows against a number of currencies as market positioning continue to skew away from the safe haven currency. USD-JPY eked out a fresh three-month high at 109.06, while EUR-JPY and AUD-JPY lifted to respective five- and eight-day highs. GBP-JPY also edged out a five-day peak. Source: XE news feed … Read more »

XE Market Analysis: Asia – Oct 28, 2019

The Dollar was mixed overall in N.Y. trade on Monday, with USD-JPY leading the gainers. That pairing briefly topped at 109.04, a near three-month high. EUR-USD was range bound between 1.1085 and 1.1101. USD-CAD printed three-month lows of 1.3050, while GBP-USD topped at 1.2875. Data included a narrowed advance goods trade report, and a weaker… Read more »

XE Market Analysis: North America – Oct 28, 2019

The pound and the euro has seen modest strength after the EU affirmed that a three-month Brexit extension would be permitted to the UK, which effectively rule out a no-deal Brexit this Thursday (being October 31). Cable posted a high at 1.2859, which is just 4 pips shy of the peak seen on Friday, before… Read more »

XE Market Analysis: Europe – Oct 28, 2019

USD-JPY edged out an 11-day high at 108.79, surpassing Friday’s high by 2 pips. The New Zealand dollar also saw an 11-day low versus the U.S. currency, while the Canadian dollar nudged just below the low it saw against the U.S. buck on Friday. Ranges have been narrow, while most of the other main currency… Read more »

XE Market Analysis: Asia – Oct 25, 2019

FX Trade was quiet in N.Y. on Friday, though the Dollar rose overall. The DXY moved to seven-session highs of 97.90, posting the bulk of gains at the expense of the Euro and Pound. A slight University of Michigan consumer sentiment miss had little impact on trade. EUR-USD dipped to 1.1073 from early highs of… Read more »

XE Market Analysis: North America – Oct 25, 2019

Directionally inactive best describes trading among the main currencies so far today. The Brexit process has become snarled up (again), and market narratives are expressing a wariness ahead of top-level talks between U.S. and Chinese officials later today, and into monetary policy meetings at the Fed and BoJ next week. EUR-USD has been holding steady… Read more »

XE Market Analysis: Europe – Oct 25, 2019

The dollar has been holding steady against most other currencies to far today, losing a little ground to the Australian and Canadian dollars, but remaining comfortably within respective ranges from yesterday. EUR-USD has been holding steady just above 1.1100, and USD-JPY has been amid a narrow chop around the 108.50-60 area. The pound has found… Read more »