Category: Commodities & Markets News

Commodities and financial market news from external sources.

Lower currency continues to buoy Australian agriculture

A lower-than-expected Australian dollar combined with good seasonal conditions continue to buoy the outlook for Australian agriculture, according to NAB’s July Rural Commodities Wrap released today. Source: Beef Central Lower currency continues to buoy Australian agriculture

Financier Greensill Australia closes doors. Will ag be affected?

The Australian operations of Greensill Capital officially ceased at 5pm on Monday, raising questions about impacts to Australian agricultural companies which accessed supply chain finance through firm. Source: Grain Central Financier Greensill Australia closes doors. Will ag be affected?

XE Market Analysis: North America – Mar 16, 2021

Currencies have mostly been trading with stability amid a benign backdrop of buoyant stock markets and softer yields as markets anticipate dovish guidance from the Fed and tomorrow’s conclusion of the FOMC meeting, which begins later today. This is despite the $1.9 tln fiscal stimulus, which is being implemented on top of a better than… Read more »

XE Market Analysis: Europe – Mar 16, 2021

Currencies have been trading with stability amid a benign backdrop of buoyant stock markets and softer yields as markets anticipate dovish guidance from the Fed and tomorrow’s conclusion of the FOMC meeting, which begins later today. This is despite the $1.9 tln fiscal stimulus, which is being implemented on top of a better than anticipated… Read more »

FInancier Greensill Australia closes doors, will ag be affected?

The Australian operations of Greensill Capital officially ceased at 5pm yesterday, raising questions about impacts to Australian agricultural companies which accessed supply chain finance through firm.  Source: Beef Central FInancier Greensill Australia closes doors, will ag be affected?

XE Market Analysis: Asia – Mar 15, 2021

The Dollar was steady through the N.Y. session on Monday, seeing the DXY range between 91.96 and 91.76, before holding near mid-range into the close. U.S. data was light, though aa two-year high print for the March Empire State index gave the Buck some modest support. The ever-expanding pace of vaccine rollout, and prospects for… Read more »

XE Market Analysis: North America – Mar 15, 2021

The dollar retained an underlying bid, with U.S. Treasury yields remaining buoyant, near Friday’s highs. The DXY dollar index lifted to a high at 91.87, gaining on Friday’s closing level but so far remaining shy of Friday’s high. The 10-year T-note yield settled around 1.620-1.630%, just below the 13-month month highs seen at the end… Read more »

XE Market Analysis: Europe – Mar 15, 2021

The dollar retained an underlying bid, with U.S. Treasury yields remaining buoyant, near Friday’s highs. The DXY dollar index lifted to a high at 91.87, gaining on Friday’s closing level but so far remaining shy of Friday’s high. The 10-year T-note yield settled around 1.620-1.630%, just below the 13-month month highs seen at the end… Read more »

XE Market Analysis: Asia – Mar 12, 2021

The Dollar firmed up overnight ahead of Friday’s N.Y. session, though lost its footing late in the morning session. Slightly warmer PPI and a firmer U. Michigan sentiment report supported the USD briefly, though sellers returned ahead of the weekend and into the London close. The DXY topped at 91.96, later falling to 91.61. The… Read more »

XE Market Analysis: North America – Mar 12, 2021

The dollar has rebounded from three consecutive days of decline, rising alongside a renewed steepening in the U.S. Treasury yield curve. The 10-year T-note yield vaulted back above 1.60% after briefly foraying below 1.50% yesterday. The catalyst came yesterday, when President Biden’s signed off on the $1.9 tln stimulus bill, which came alongside continued good… Read more »

XE Market Analysis: Europe – Mar 12, 2021

The dollar has rebounded from three consecutive days of decline, rising alongside a renewed steepening in the U.S. Treasury yield curve. The 10-year T-note yield has lifted back towards the 1.60% level after briefly foraying below 1.50% yesterday. President Biden’s signing off on the $1.9 tln stimulus bill, which came alongside continued good news on… Read more »

XE Market Analysis: Asia – Mar 11, 2021

The Dollar was weaker in N.Y. on Thursday, taking the DXY to one-week lows of 91.38 from early highs of 91.80. Better than expected initial and continuing jobless claims provided a brief boos to the Greenback early in the session, though despite slightly higher Treasury yields, the USD then turned broadly lower. Surging yields over… Read more »

XE Market Analysis: North America – Mar 11, 2021

The dollar has extended lower, concurrently with lower Treasury yields. The 10-year T-note yield has fallen back towards 1.500%, new yesterday’s low that was seen in the wake of the cooler than expected U.S. February CPI outcome. Stock markets have remained buoyant in Asia after the Dow hit a fresh record closing level on Wall… Read more »

XE Market Analysis: Europe – Mar 11, 2021

The dollar has extended lower, concurrently with lower Treasury yields. The 10-year T-note yield has fallen back below 1.520%, towards yesterday’s low near 1.500% that was seen in the wake of the cooler than expected U.S. February CPI outcome. Stock markets have remained buoyant in Asia after the Dow hit a fresh record closing level… Read more »

XE Market Analysis: Asia – Mar 10, 2021

The Dollar was largely range bound in N.Y. on Wednesday, seeing the DXY range between 91.80 and 92.07. The lows came following the slightly cooler February core PPI print of 0.1% versus 0.2%, while the deadline number came in at a consensus meeting 0.4%. The USD ended near lows of the session against the major… Read more »

XE Market Analysis: North America – Mar 10, 2021

The dollar has found a footing after ebbing yesterday. Treasury yields have steadied after falling yesterday, and the $1.9 tln fiscal stimulus bill passed the procedural vote in the House. EUR-USD has been holding a 30-pip range in the mid-to-upper 1.1800s, consolidating recent declines that yesterday produced a one-month low at 1.1836, and USD-JPY has… Read more »

XE Market Analysis: Europe – Mar 10, 2021

The dollar has found a footing after ebbing yesterday. Treasury yields have steadied, and the $1.9 tln fiscal stimulus bill passed the procedural vote in the House. EUR-USD has been holding a 30-pip range in the mid-to-upper 1.1800s, consolidating recent declines that yesterday produced a one-month low at 1.1836, and USD-JPY has been consolidating recent… Read more »

XE Market Analysis: Asia – Mar 09, 2021

The Dollar faded lower beginning during the Asian session, and continuing into the N.Y. morning session. Treasury yields dropped, which weighed on the Greenback, while risk taking levels also improved, also a positive for the USD. Wall Street surged on dip buying, with the NASDAQ pacing the gains, after falling into correction territory on Monday…. Read more »

XE Market Analysis: North America – Mar 09, 2021

The dollar posted fresh highs before receding, with the DXY index hitting a fresh 15-week peak at 92.50 and then declining to levels around 91.91. The greenback’s softening was concomitant with a dip in U.S. Treasury yields, which was seen as the Asian session progressed. The 10-year U.S. note yield dropped, quite sharply, below 1.53%,… Read more »

XE Market Analysis: Europe – Mar 09, 2021

The dollar posted fresh highs before receding, with the DXY index hitting a fresh 15-week peak at 92.50 and then declining to levels around 92.25. The greenback’s softening was concomitant with a dip in U.S. Treasury yields, which was seen as the Asian session progressed. The 10-year U.S. note yield ebbed below 1.560%, after peaking… Read more »

XE Market Analysis: Asia – Mar 08, 2021

The DXY printed three-month highs of 92.42 in late morning trade in N.Y. on Monday, up from overnight lows of 91.84. There was no data to drive the market, so narrow trading ranges were generally the rule for the major Dollar pairings. Treasury yields remained elevated, supportive of the USD, though the bond market was… Read more »

XE Market Analysis: North America – Mar 08, 2021

The dollar has continued higher, buoyed by news, albeit expected news, that the U.S. Senate passed the $1.9 bln fiscal relief bill on Saturday. The bill is now expected to sail through the House and then onto President Biden’s desk, and the stimulus could start being unleashed within the week. This follows Friday’s unambiguously strong… Read more »

XE Market Analysis: Europe – Mar 08, 2021

The dollar has remained on a firming bias, buoyed by news, albeit expected news, that the U.S. Senate passed the $1.9 bln fiscal relief bill on Saturday. The bill will now pass to the House and then to President Biden’s desk, and the stimulus could start being unleashed as soon as the week’s end. This… Read more »

XE Market Analysis: Asia – Mar 05, 2021

The DXY hit three-month highs of 92.19 in early trade on Friday following the jobs report. While it may be too soon to get on board the recovery train, the February jobs report significantly beat forecasts and supports the Fed view that the economy is picking up the pace faster than expected after a year… Read more »

XE Market Analysis: North America – Mar 05, 2021

The dollar has continued to ascend on the back of a favourable shift in yield differentials. While the 10-year T-note yield has settled at moderately lower levels, under 1.55%, after pushing above 1.580% yesterday, the yield remains up by over 60 bp on the year to date. The dollar, as gauged by the DXY index,… Read more »

XE Market Analysis: Europe – Mar 05, 2021

The dollar has continued to ascend on the back of a continued rise in Treasury yields. The 10-year T-note yield has settled near 1.560% after pushing above 1.580% yesterday. The yield is up over 63 bp on the year to date. The dollar, as gauged by the DXY index, earlier posted a 10-week high at… Read more »

XE Market Analysis: North America – Mar 04, 2021

The dollar has traded firmer on the back of the revived perkiness in Treasury yields over the last day. The 10-year T-note yield was showing a 1.7bp decline, at 1.468%, as of the late London morning session, though remains up by over 6 bp on the week. The U.S. yield differential versus Bunds and JGBs,… Read more »

XE Market Analysis: Europe – Mar 04, 2021

The dollar has traded firmer on the back of perky Treasury yields over the last day, although a dip in yields today has eroded some of the greenback’s upside impetus. The 10-year T-note yield was showing a 2.3bp decline, at 1.462%, as of the early London session, though remains up by over 5 bp on… Read more »

XE Market Analysis: Asia – Mar 03, 2021

The Dollar was largely range bound through the N.Y. session on Wednesday, pushing slightly higher overall in morning trade, later fading some before steadying near mid-range. There was little FX reaction to the incoming data, where the ADP jobs report missed the mark, while the services ISM was light of expectations as well. Surging Treasury… Read more »

XE Market Analysis: North America – Mar 03, 2021

The dollar has seen a down-and-up price action, ebbing during the Asian session into the London interbank open and then rebounding during the European morning, concomitantly with a rebound in the dollar as U.S. Treasury yields shifted higher amid the backdrop of rallying stock markets. The 10-year T-note yield lifted about 5 bp back above… Read more »

XE Market Analysis: Europe – Mar 03, 2021

The dollar’s prevailing bias has switched to softening against a backdrop of buoyant stock markets and steady Treasury yields. The DXY dollar index ebbed to a low for the week at 90.67, correcting gains that yesterday left a one-month high at 91.39, while EUR-USD posted a high for the week at 1.2107, having recouped from… Read more »

XE Market Analysis: Asia – Mar 02, 2021

Risk-off conditions in Asia saw the Dollar rally, though European stocks rallied, and Wall Street largely retained Monday’s sharp gains, resulting in the safe-haven USD ease lower through the N.Y. session. The DXY had printed a near four-week high of 91.39 overnight, though later bottomed at 90.75 after the London close. There was nothing in… Read more »

XE Market Analysis: North America – Mar 02, 2021

The dollar fluctuated from gains to losses in synchrony with, first, a tumble in Asian equities and, then, a subsequent rally across European equity markets, which was accompanied by a rebound from losses in U.S. equity index futures. The DXY index dropped back to near net unchanged levels around 91.10 after earlier posting a near… Read more »

XE Market Analysis: Europe – Mar 02, 2021

The dollar and yen have gained on an apparent safe haven bid as Asian stock markets turned lower after the head of the China banking regulator warned of bubbles developing in foreign markets and domestic property markets, and signalled that Beijing is looking at measures to manage capital inflows to forestall turbulence in domestic markets…. Read more »

XE Market Analysis: Asia – Mar 01, 2021

The DXY rallied to near three-week highs in N.Y. on Monday, after rallying out of 90.69 lows overnight. A calmer backdrop in the Bond market, and an easing of inflation fears ultimately allowed the index to rally some, following last week’s near two-week lows. A better than expected manufacturing ISM, along with a sharply higher… Read more »

XE Market Analysis: North America – Mar 01, 2021

The dollar rebounded out of lows, with European markets on the bid after Asian markets were on the offer. European markets seemed more reactive to a lift in Treasury yields amid a backdrop of rebounding global stock markets and commodities. The DXY dollar index recovered from a 90.69 low to a three-week high at 91.13,… Read more »

XE Market Analysis: Europe – Mar 01, 2021

The dollar has corrected some of Friday’s gains amid a recovery in risk appetite in global markets, which has come as bond yields retreated. The DXY dollar index has posted a low at 90.69, down from Friday’s 11-day high at 90.97, while EUR-USD concurrently lifted to a high of 1.2101, up almost 40 pips from… Read more »

XE Market Analysis: Asia – Feb 26, 2021

The DXY to 90.92 highs in N.Y. on Friday, a seven-session peak, and up from overnight lows of 90.13. The Greenback reversed Thursday’s losses, which came on the back of inflation fears, driven by surging Treasury yields. Since then, the market calmed some, with the USD advancing on those same higher yields. Incoming data was… Read more »

XE Market Analysis: North America – Feb 26, 2021

The dollar and yen rallied as a risk-off theme coursed through global markets, with equity markets, commodities, including base metals and oil, all tumbling. The sharp spike in U.S. and most other sovereign yields this week and the associated concerns about inflation have driven the correction in risk assets and currencies. Source: XE news… Read more »

XE Market Analysis: Europe – Feb 26, 2021

The dollar and yen rallied as a risk-off theme coursed through global markets, with equity markets, commodities, including base metals and oil, all tumbling. The sharp spike in U.S. and most other sovereign yields this week and the associated concerns about inflation have driven the correction in risk assets and currencies. Source: XE news… Read more »

XE Market Analysis: Asia – Feb 25, 2021

The DXY printed fresh seven-week lows of 89.68 in N.Y. morning trade on Thursday, despite better U.S. data, which included lower than expected jobless claims, an in-line Q4 GDP revision, and a surge in durable orders. The data had little impact on the Dollar, as focus remained on inflation, with higher Treasury yields being read… Read more »

XE Market Analysis: North America – Feb 25, 2021

The DXY dollar index has sank to seven-week lows under 89.75 following Fed chair Powell’s successful attempt to convince markets that the punch bowel of monetary stimulus isn’t going to be taken away anytime soon, even in the face of rising inflation. While admitting that asset prices are “somewhat elevated” and that there would be… Read more »

XE Market Analysis: Europe – Feb 25, 2021

The DXY dollar index has sank to new six-week lows under 89.95 following Fed chair Powell’s successful attempt to convince markets that the punch bowel of monetary stimulus isn’t going to be taken away anytime soon, even in the face of rising inflation. While admitting that asset prices are “somewhat elevated” and that there would… Read more »

XE Market Analysis: Asia – Feb 24, 2021

The DXY perked up slightly in N.Y. trade on Wednesday, though aside from USD-CAD, which slipped to trend lows, most major USD pairings ended the session largely unchanged. After losing ground late last week, the Greenback has steadied inside of relatively narrow trading bands, with the market appearing to be uncertain on general direction going… Read more »

XE Market Analysis: North America – Feb 24, 2021

The dollar has been trading mixed so far today, rising against an underperforming yen, holding steady against the euro while losing ground to dollar bloc, which were led higher by a charge in the New Zealand dollar, and the pound, which saw an outsized rally during the Asian session. The pound’s gains were notable, with… Read more »

XE Market Analysis: Europe – Feb 24, 2021

The pound and the New Zealand dollar surged to fresh trend highs, which along with a side theme of yen weakness, provided the main action during Asian trading ahead of the London interbank open. Cable spiked by some 180 pips from yesterday’s New York closing level in posting a fresh 36-month high at 1.4234. The… Read more »

XE Market Analysis: Asia – Feb 23, 2021

The DXY was a bit choppy on Tuesday in N.Y., though inside a narrow trading band of 90.26 to 90.01 through the session after printing better than one-month lows of 89.94 in Asia. The USD revealed some safe-haven characteristics through the session, generally rising as Wall Street was hammered lower early on firmer yields and… Read more »

XE Market Analysis: North America – Feb 23, 2021

The dollar lifted out of lows following a four trading day run lower, lifted in part by a sharp drop in cryptocurrencies and a correction in base metals, which had earlier in many cases printed new multi-year highs. Equity markets also saw pronounced declines following some disappointing corporate earnings reports. Amid this, the DXY dollar… Read more »

XE Market Analysis: Europe – Feb 23, 2021

The dollar remained on a softening path in what is now a fourth consecutive trading day of weakening, which has spanned over phases both risk-on and risk-wary sentiment in global markets, alongside a continued ascent in Treasury yields. Overall, as witnessed by gains in commodity prices over this period, which have been attributed by some… Read more »

XE Market Analysis: Asia – Feb 22, 2021

The DXY fell to its lowest level since January 13, bottoming at 90.00 in N.Y. trade on Monday, down from 90.30 at the open, and the 90.57 top seen overnight. The Greenback had been on the rise overnight, as the U.S. 10-year Treasury yield hit a one-year high near 1.40%. Yields later ebbed in N.Y.,… Read more »

XE Market Analysis: North America – Feb 22, 2021

It’s all about yield differentials in currency markets at the moment. The Aussie dollar, for instance, has pegged fresh trend highs against most currencies in synchrony with Australian yields rising more than peers over the last week. UK yields have also been among those showing the biggest basis point rise, even more than U.S. Treasuries… Read more »

XE Market Analysis: Europe – Feb 22, 2021

Shifting yield differentials have continued to drive currency direction. At the 10-year maturity level, Australian yields have, for instance, risen more over the last week than most peers, which has driven the Aussie dollar to fresh trend highs against most currencies. UK yields have also been among those showing the biggest basis point rise, even… Read more »

XE Market Analysis: Asia – Feb 19, 2021

The Dollar index stumbled in the London morning session, hitting a low in early N.Y. before rebounding modestly. The index approached the three-week low of 90.12 seen on Tuesday, later topping at 90.65. Rising price pressures in the Markit PMI reports lifted yields, which provided support to the USD, as did pre-weekend short covering. Incoming… Read more »

XE Market Analysis: North America – Feb 19, 2021

The dollar has softened for a second consecutive day, despite U.S. Treasury yields perking up, although remaining off trend highs seen earlier in the week. Global stock markets have continued to exhibit a sputtering price action in the face of historically stretched valuations and the recent spike in yields. In the commodity realm, oil prices… Read more »

XE Market Analysis: Europe – Feb 19, 2021

The dollar has softened for a second consecutive day, despite U.S. Treasury yields perking up, although remaining off trend highs seen earlier in the week. Global stock markets have continued to exhibit a sputtering price action in the face of historically stretched valuations and the recent spike in yields. In the commodity realm, oil prices… Read more »

XE Market Analysis: Asia – Feb 18, 2021

The Dollar was rangebound in N.Y. on Thursday, though had lost ground overnight. The DXY traded a 90.56 to 90.79 trading band, later settling near mid-range. Incoming data was mixed, as jobless claims disappointed, and housing starts were lighter than expected. Firmer trade prices resulted in higher Treasury yields, which supported the Dollar at the… Read more »

XE Market Analysis: North America – Feb 18, 2021

Both the dollar and U.S. Treasury yields have settled off their recent highs, while global equity markets have come off the boil as investors take stock in the face of lofty valuations. The reflation trade remained alive and kicking in commodities, however, with copper and other base metals surging to fresh multi-year highs, buoyed by… Read more »

XE Market Analysis: Europe – Feb 18, 2021

Both the dollar and U.S. Treasury yields have settled off their respective highs, while global equity markets have come off the boil as investors take stock in the face of lofty valuations. The reflation trade remained alive and kicking in commodities, however, with copper and other base metals surging to fresh multi-year highs, buoyed by… Read more »

XE Market Analysis: Asia – Feb 17, 2021

The Dollar rallied in N.Y. morning trade, buoyed by sharply higher than expected U.S. retail sales and PPI, and consensus beating industrial production. Treasury yields, which had been supportive of the USD of late moved somewhat lower through the session, which later resulted in the Dollar giving back some of its early gains. Massive debt… Read more »

XE Market Analysis: North America – Feb 17, 2021

The dollar has traded higher on the back of the recent sharp spike in U.S. Treasury yields, which has been too much to ignore for market participants, even allowing for the relatively high inflation rate in the U.S. relative to peers (which has a depressing effect on real yield differentials). The 10-year T-note yield printed… Read more »

XE Market Analysis: Europe – Feb 17, 2021

The dollar has traded higher amid the sharp spike in U.S. Treasury yields, which has been too much to ignore for market participants, even allowing for the relatively high inflation rate in the U.S. relative to peers (which has a depressing effect on real yield differentials). The 10-year T-note yield printed a high at 1.330%… Read more »

XE Market Analysis: Asia – Feb 16, 2021

The dollar headed higher after the better Empire State index, though had been on the rise ahead of the data. Higher U.S. yields were a driver of USD strength on Tuesday, as inflationary concerns continue to rise, which saw the DXY rally to 90.64 highs from better than three-week lows of 90.12. USD short covering… Read more »

XE Market Analysis: North America – Feb 16, 2021

The dollar and yen came under renewed pressure as the global reflation trade continued. The MSCI Asia-Pacific and U.S. index futures posted fresh highs, although sentiment subsequently weakened somewhat to push these markets off their highs on news that China is considering limits on rare earth mineral exports to the U.S. Such minerals are essential… Read more »

XE Market Analysis: Europe – Feb 16, 2021

The dollar and more especially the yen came under renewed pressure as the global reflation trade continued. The MSCI Asia-Pacific and U.S. index futures posted fresh highs, although sentiment subsequently weakened somewhat to push these markets off their highs on news that China is considering limits on rare earth mineral exports to the U.S. Such… Read more »

XE Market Analysis: North America – Feb 15, 2021

The dollar has been trading softer amid a resumption in the reflation trade, and despite the strong rise in U.S. Treasury yields, which has seen the 10-year note yield rise above 1.20% and the 30-year bond yield cheapen above 2.0%. Global stock markets are back in rally mode, oil prices high fresh 13-month highs, and… Read more »

XE Market Analysis: Europe – Feb 15, 2021

The dollar has been trading softer amid a resumption in the reflation trade, and despite the strong rise in U.S. Treasury yields, which has seen the 10-year note yield rise above 1.20% and the 30-year bond yield cheapen above 2.0%. Global stock markets are back in rally mode, oil prices high fresh 13-month highs, and… Read more »

XE Market Analysis: Asia – Feb 12, 2021

The Dollar firmed in early trade on Friday, seeing the DXY hit four-session highs of 90.74. Gains were short lived however, as selling stepped in at mid-morning, leaving the USD index at 90.38 lows after the London close. Following losses seen this week, the USD appears to be entering a consolidative period, managing to close… Read more »

XE Market Analysis: North America – Feb 12, 2021

The dollar has firmed up amid a risk-wary sentiment in global markets, which has seen world equity markets settle lower from record highs. At the same time, market conditions have been thinned by the lunar new year holidays in China and some other Asian nations. The DXY dollar index, after tumbling in three of the… Read more »

XE Market Analysis: Europe – Feb 12, 2021

The dollar has firmed up amid a risk-wary sentiment in global markets, which has seen world equity markets settle lower from record highs. At the same time, market conditions have been thinned by the lunar new year holidays in China and some other Asian nations. Some tough talk aimed at China from U.S. President Biden… Read more »

What’s happening with fertiliser, fuel prices?

This year has coincided with a very strong rally in fertiliser pricing levels but, whilst diesel prices have increased in recent months, they are remaining at low levels compared to most of the past decade.. Source: Grain Central What’s happening with fertiliser, fuel prices?

XE Market Analysis: Asia – Feb 11, 2021

The Dollar perked up from early lows, which came on the back of a disappointing jobless claims outcome, later rallying modestly, though sticking inside narrow trading ranges overall. The DXY was held inside of Wednesday’s trading band, bottoming at 90.28 before bouncing to 90.47. A record low yield in 2-year Treasuries just ahead of the… Read more »

XE Market Analysis: North America – Feb 11, 2021

Narrow ranges have been prevailing in overall languid trading conditions. Japanese, South Korean and Chinese markets were closed today, with the latter commencing the week-long lunar new year holiday. Singapore will be off tomorrow, and the lunar new year holiday will start tomorrow in Hong Kong. Despite these absentees, global stock markets have remained buoyant,… Read more »

XE Market Analysis: Europe – Feb 11, 2021

Narrow ranges have been prevailing in overall languid trading conditions. Japanese, South Korean and Chinese markets were closed today, with the latter commencing the week-long lunar new year holiday. Singapore will be off tomorrow, and the lunar new year holiday will start tomorrow in Hong Kong. Despite these absentees, global stock markets have remained buoyant,… Read more »

XE Market Analysis: Asia – Feb 10, 2021

After touching two-week lows of 90.25 overnight, the DXY recovered to 90.48 ahead of the open, before settling into a narrow range through much of the session. A cooler U.S. January CPI outcome weighed on the USD broadly, though following four days of selling, the urgency to ditch the Dollar calmed. The double-edged sword of… Read more »

XE Market Analysis: North America – Feb 10, 2021

The dollar has continued to soften, while stock markets in Asia rallied despite Wall Street pausing for breath yesterday after the flagship indices posted record highs on the previous day. The reflation trade is back in play, aided by the remarkable drop in the rate of new positive Covid test results globally, which are down… Read more »

XE Market Analysis: Europe – Feb 10, 2021

The dollar has continued to soften, while stock markets in Asia rallied despite Wall Street pausing for breath yesterday after the flagship indices posted record highs on the previous day. The reflation trade is back in play, aided by the remarkable drop in the rate of new positive Covid test results globally, which are down… Read more »

XE Market Analysis: Asia – Feb 09, 2021

The Dollar traded on a softer footing in N.Y. on Tuesday, with the bulk of losses coming overnight. The DXY pulled back to seven-session lows of 90.51, down from overnight highs of 90.93. The paring of long USD positions continued for the third day, following the decent run up seen over the past week or… Read more »

XE Market Analysis: North America – Feb 09, 2021

The dollar has come under broad pressure, which has pushed the DXY index to eight-day lows near 90.50. Tesla’s parking of $1.5 bln in Bitcoin, which consequently surged over 20% to record highs near $50,000, sparked broader declines in the U.S. currency. Also at play have been a drop from highs in U.S. Treasury yields… Read more »

XE Market Analysis: Europe – Feb 09, 2021

The dollar has come under across-the-board pressure, which has pushed the DXY index to eight-day lows under 90.75. Tesla’s decision to park $1.5 bln in Bitcoin yesterday, which consequently surged over 20% to record highs near $50,000, seemed to spark broader declines in the U.S. currency. Also at play have been a drop from highs… Read more »

Australian agriculture set for solid year

Australian agriculture is in its strongest position in years with the NAB Rural Commodities Index rising 4.2 percent in January to now be 7.3 percent higher than this time last year. Source: Beef Central Australian agriculture set for solid year

XE Market Analysis: Asia – Feb 08, 2021

The Dollar again lost ground in Monday morning trade, with follow through selling seen after Friday’s weakness. Overbought conditions last week resulted in the two-session correction, though further downside from here is expected to be limited, as Treasury rates continue to climb, and as progress is made on the Covid vaccine front. The DXY slipped… Read more »

XE Market Analysis: North America – Feb 08, 2021

The dollar found a footing after posting fresh declines against some currencies, which extended losses seen on Friday following the headline payrolls miss. However, the details of the jobs report (hours worked and earnings) were strong, and U.S. yields have remained perky, which along with the approaching mega-stimulus spending binge, has ensured the dollar picked… Read more »

XE Market Analysis: Europe – Feb 08, 2021

The dollar has remained soft after correcting on Friday following the headline payrolls miss. However, the details of the jobs report (hours worked and earnings) were strong, and U.S. yields have remained perky, which, along with the approaching mega-stimulus spending binge, should ensure the dollar picks up demand on dips. The DXY dollar index edged… Read more »

XE Market Analysis: Asia – Feb 05, 2021

The DXY retreated in N.Y. on Friday, but not before printing its fifth-consecutive higher daily high. The index topped at 91.60 overnight, later falling to 90.01 in afternoon trade. The FX market had been bidding up the USD all week, on improving fundamental, and an accelerating vaccine rollout, leaving it a bit overbought. A softer… Read more »

XE Market Analysis: North America – Feb 05, 2021

The dollar has traded more mixed today, with the pound and dollar bloc holding their own. The DXY dollar index has edged out a fresh two-month high, this time at 91.60, in what is its fifth consecutive up day, underpinned by an improving yield advantage relative to the euro and other peers (with UK gilt… Read more »

XE Market Analysis: Europe – Feb 05, 2021

The DXY dollar index has edged out a fresh two-month high, this time at 91.60, in what is its fifth consecutive up day, underpinned by an improving yield advantage relative to the euro and other peers (with UK gilt yields being the main exception). EUR-USD printed a new two-month low at 1.1952.The 10-year U.S. note… Read more »

XE Market Analysis: Asia – Feb 04, 2021

The DXY printed its fourth consecutive higher daily high in N.Y. on Thursday, topping at a fresh one-year peak of 91.58, up from 91.52 at the open. A stronger ADP jobs report, along with a surge in factory orders supported, though the main themes of firmer Treasury yields, upped odds for a massive stimulus bill,… Read more »

XE Market Analysis: North America – Feb 04, 2021

The dollar has posted new highs for a fourth consecutive day, with the DXY index making a two-month peak at 91.48. This is also set to be the fourth week out of the last five weeks the dollar index has ascended. A near 15 bp rise in the U.S. 10-year note over the last week… Read more »

XE Market Analysis: Europe – Feb 04, 2021

The dollar has clocked new highs for a fourth consecutive day, with the DXY index making a two-month peak at 91.36. This is also set to be the fourth week out of the last five weeks the dollar index has ascended. A near 15 bp rise in the U.S. 10-year note over the last week… Read more »

XE Market Analysis: Asia – Feb 03, 2021

The DXY printed its third consecutive day of higher daily highs on Wednesday, with the index topping at two-month highs of 91.31. Gains were later pared, though the USD continued to hold up. Firmer Treasury yields, likely to edge higher still, as odds for the passage of a huge U.S. stimulus bill increase, have been… Read more »

XE Market Analysis: North America – Feb 03, 2021

The dollar has remained firm amid signs that the Democrats will manage to pass the mammoth $1.9 tln relief bill without the support of the Republicans. And while there has been been positive news from the Covid vaccine rollout front, the EU’s mishandling still means that continental Europe will likely lag peers in reducing societal… Read more »

XE Market Analysis: Europe – Feb 03, 2021

The dollar has largely been consolidating gains seen yesterday, which came amid signs that the Democrats will manage to pass the mammoth $1.9 tln relief bill without the support of the Republicans. There has been positive news from the Covid vaccine rollout front, too, though the EU’s mishandling still means that continental Europe will likely… Read more »

XE Market Analysis: Asia – Feb 02, 2021

The Dollar was broadly higher again in N.Y. on Tuesday, taking the DXY to two-month highs of 91.28. The turnaround in the USD’s fortunes may have been driven by fresh hopes that the U.S. economy will recover more quickly than thought even a couple of weeks ago, as Covid conditions improve, and as the vaccine… Read more »

XE Market Analysis: North America – Feb 02, 2021

The dollar DXY index has posted a fresh six-week high at 91.17. EUR-USD concurrently dropped to a fresh two-month low at 1.2032. Dollar firming has been at play, while the euro has been experiencing concurrent underperformance. Yield spread differentials have been shifting back in the dollar’s favour, with the U.S. 10-year T-note yield rising over… Read more »

XE Market Analysis: Europe – Feb 02, 2021

The dollar has remained overall buoyant, which saw the DXY index post a fresh six-week high at 91.00. EUR-USD remained concurrently heavy, though remained above yesterday’s 1.2054 low, which matched the two-month low that was seen on January 18. Recent declines have reflected both dollar firmness and euro weakness. The common currency posted a fresh… Read more »

XE Market Analysis: Asia – Feb 01, 2021

The Dollar firmed up in N.Y trade on Monday, taking the DXY to six-week highs of 91.01 from overnight lows of 90.50. Talk of foreign account USD buying as a new month kicked off was heard, taking the Greenback higher despite the risk-on backdrop, which usually results in a softer Dollar. Incoming data was mixed,… Read more »

XE Market Analysis: North America – Feb 01, 2021

The DXY dollar index edged out a six-week high at 90.91, with the dollar tracking a rise in U.S. Treasury yields. EUR-USD concurrently ebbed to a five-day low at 1.2069, and USD-JPY tested Friday’s 11-week peak at 104.95. Cable also came with in a few pips of 32-month highs, and the greenback marked modest gains… Read more »

XE Market Analysis: Europe – Feb 01, 2021

The dollar has traded modestly firmer so far today, though has remained below recent highs, with most currencies seeing narrow ranges. EUR-USD saw a modest downside drift, dipping back under 1.2100, though remained above its Friday low at 1.2093. USD-JPY settled in a narrow range below the 11-week high seen on Friday at 104.95. The… Read more »

XE Market Analysis: Asia – Jan 29, 2021

The Dollar overall headed lower on Friday, with the bulk of losses coming in the London morning session. Heavy risk-off conditions returned, with the usual suspects driving equities lower. The uncertainties over vaccines, the Covid outlook, new variants of the virus, along with equity market disruptions caused by the arrival of “casino” stocks, all weighed… Read more »