Category: Commodities & Markets News

Commodities and financial market news from external sources.

XE Market Analysis: Asia – Oct 21, 2020

The Dollar was choppy in N.Y. trade on Wednesday, though ultimately ended lower overall. The DXY printed a seven-week low of 92.47, down from early highs of 92.83. The USD tended to move in the opposite direction to the risk-backdrop, which shifted through the session on the back of stimulus concerns, the election and Covid…. Read more »

XE Market Analysis: North America – Oct 21, 2020

The dollar underperformed while the pound outperformed and the yen, diverging from its usual close correlation with the dollar, was measuring as the second strongest of the main currencies. Global stock markets have been skittish, with European indices dropping and U.S. equity index futures giving back gains in returning to near net unchanged levels. Sterling… Read more »

XE Market Analysis: Europe – Oct 21, 2020

The dollar is softer across the board amid a backdrop of buoyant global stock markets and declining risk premia. U.S. House speaker Pelosi said that she is hopeful that a deal on fiscal stimulus can be reached this week, while markets are also factoring in rising prospects for further central bank stimulus, especially in Europe… Read more »

XE Market Analysis: Asia – Oct 20, 2020

The Dollar was lower on Tuesday, with risk-on conditions weighing. The DXY fell to a one-month low of 93.00, down from 93.29 at the open. Wall Street rallied, as renewed hopes for a fiscal stimulus package brought in buyers. Pelosi and Mnuchin are set to hold another round of talks on Tuesday, after it was… Read more »

XE Market Analysis: North America – Oct 20, 2020

The euro has rallied against its peer currencies. The common currency was showing, as of the late London morning, a near 0.5% gain on the dollar, and slightly more than this in the case against the yen, alongside gains of 0.7% and 0.9% versus the Australian and New Zealand dollars. EUR-USD printed a one-week high… Read more »

XE Market Analysis: Europe – Oct 20, 2020

The Australian dollar continued to weaken, this time with RBA Assistant Governor Kent saying that the board is considering another easing, which backed up the Governor Lowe’s recent messaging, that a rate cut and other monetary easing measures are in the works. AUD-USD, which has dropped every day since last Monday, fell by nearly 0.5%… Read more »

XE Market Analysis: Asia – Oct 19, 2020

The Dollar softened during the London morning session on Monday, though was generally steady through the N.Y. session, albeit at lower levels. The DXY fell from European highs of 93.76, later basing at 93.22 into the open. The risk-on conditions seen overnight weighed on the safe-haven USD, with only modest upticks seen after Wall Street… Read more »

XE Market Analysis: North America – Oct 19, 2020

The dollar and yen softened against other currencies as risk-on positioning ensued. Pfizer said it could have a vaccine ready by year-end, and with House Speaker Pelosi saying on Sunday that she was confident that a comprehensive U.S. aid package could be legislated for by the November-3 elections. And while Q3 GDP data out of… Read more »

XE Market Analysis: Europe – Oct 19, 2020

The dollar has traded softer, overall, losing ground the pound and Aussie and Kiwi dollars, though gaining slightly on the euro, which has opened the week with a modest weakening bias as surging new Covid cases push many European countries to more draconian restrictions. Asian stock markets and U.S. index futures rallied after Pfizer said… Read more »

XE Market Analysis: Asia – Oct 16, 2020

The Dollar was under modest pressure early in the N.Y. session on Friday, which saw the DXY slip from London highs of 93.88, to a low of 93.54 after the open. Risk-on was in vogue again, which weighed on the USD, though sharply higher U.S. retail sales saw a modest reversal higher from there. Other… Read more »

XE Market Analysis: North America – Oct 16, 2020

The dollar and yen continued to hold firm, although both softened as European stock markets and U.S. equity index futures rose moderately. There remains a tremulous vibe in global markets in the face of a plethora of risks — billowing new Covid cases, especially in Europe, and associated trend toward increasingly stringent countermeasures, an increasingly… Read more »

XE Market Analysis: Europe – Oct 16, 2020

More of the same with the dollar and yen holding firm and with the pound and the Australian dollar remaining notable weakening currencies. Global stock markets are tremulous in the face of a plethora of risks — billowing new Covid cases, especially in Europe, and associated trend toward increasingly stringent countermeasures, an increasingly bleak near-tern… Read more »

XE Market Analysis: Asia – Oct 15, 2020

The Dollar firmed up overnight and retained a bid tone Through the N.Y. session on Thursday. Risk-off conditions prevailed, resulting in safe-haven USD buying. Surging Covid cases in many parts of the globe, along with fading hopes for new stimulus and uncertainty over the U.S. November election saw equities drop around the world. Wall Street… Read more »

XE Market Analysis: North America – Oct 15, 2020

The dollar and yen have been in demand again as safe haven currencies, while the Australian, along with the the pound and euro, to lessening degrees of magnitude, have been the principal weakening currencies so far today. European stock markets are down heavily, the STOXX 600 index by over 2%, and the S&P E-mini is… Read more »

XE Market Analysis: Europe – Oct 15, 2020

A decline in the Australian dollar interrupted any otherwise directionally limited phase in currency markets. RBA Governor Lowe, in a speech, signalled that a cut in the cash rate to 0.1% and an easing in the 3-year yield target, along with a rise in longer dated government bonds, are on the cards. This cemented market… Read more »

XE Market Analysis: Asia – Oct 14, 2020

The Dollar headed lower into the open, and through late morning, as modest risk-on conditions prevailed. Wall Street opened with small gains, though ultimately turned fairly sharply lower on myriad concerns, including rising Covid cases, uncertainty over the economic outlook, the U.S. election and mixed earnings reports. The resulted in the USD rallying on the… Read more »

XE Market Analysis: North America – Oct 14, 2020

There have been mixed direction themes so far today, with the dollar ebbing back after earlier posting fresh highs against many currencies, while the pound dropped quite sharply and then rebounded quite sharply, buffeted by Brexit endgame dramas. EUR-USD lifted back toward the mid 1.1700s after posting a nine-day low at 1.1719. The euro was… Read more »

XE Market Analysis: Europe – Oct 14, 2020

The pound is under pressure, and is showing about a 0.5% decline on the day so far against the dollar and yen, and about a 0.4% decline versus the euro. It’s the eve of the EU summit. Boris Johnson said that the “shape” of a deal must be visible by tomorrow, which is a deadline… Read more »

XE Market Analysis: Asia – Oct 13, 2020

The Dollar was broadly higher in N.Y. on Tuesday, taking the DXY to 93.50 highs from early lows of 93.13. Risk-off conditions saw safe-haven demand for the USD pick up. Wall Street took a breather, posting losses after soaring on Monday. News of J&J’s pausing of their Covid vaccine trial weighed, while the market cooled… Read more »

XE Market Analysis: North America – Oct 13, 2020

The dollar and to a lesser extent the yen shifted higher on a bout of risk-off positioning. News that Johnson & Johnson hit the pause button on its Covid vaccine trial due to an “unexplained illness” in one of the participants was the catalyst. There are a plethora of other candidate vaccines at advanced trial… Read more »

XE Market Analysis: Europe – Oct 13, 2020

The dollar is higher as risk-off positioning takes a grip in early European markets following news that Johnson & Johnson has hit the pause button on its Covid vaccine trial due to an “unexplained illness” in one of the participants. There are a plethora of other candidate vaccines at advanced trial stages, but the news… Read more »

XE Market Analysis: North America – Oct 12, 2020

The dollar and yen lifted moderately against most other currencies, breaking their usual inverse correlation with stock markets, which rallied in Europe and Asia. The biggest losers out of the main currencies were the pound and the Australian dollar, which were both showing declines of about 0.3%-0.4% at the lows. EUR-USD ebbed to a low… Read more »

XE Market Analysis: Europe – Oct 12, 2020

The dollar has been holding mostly steady and narrow ranges, though the yuan stirred things up by falling nearly 0.5% at its lows. This yuan’s weakness came after the PBoC removed a bank reserve requirement on yuan forward contracts, which signalled that policymakers may have been concerned about the currency’s recent gains. The yuan is… Read more »

XE Market Analysis: Asia – Oct 09, 2020

The Dollar was under pressure on Friday, leaving the DXY at three-week lows of 93.04, and three straight sessions of losses. Risk-on conditions again prevailed into the weekend, as hopes were raised for a stimulus package after Trump said he was on board with a $1.8 tln aid package. It remains to be seen if… Read more »

XE Market Analysis: North America – Oct 09, 2020

The dollar has tracked lower amid a backdrop of overall buoyant stock markets. EUR-USD posted a three-day high at 1.1803, drawing in on the 18-day high seen on Tuesday at 1.1809. The pair needs to close out today above 1.1718-19 to rack this up as a second consecutive up week. USD-JPY ebbed moderately lower on… Read more »

XE Market Analysis: Europe – Oct 09, 2020

The dollar is down for a third consecutive day, as measured by the narrow trade-weighted DXY USD index, which pegged a three-day low at 93.43. EUR-USD has remained buoyant, though has so far held below the 1.1781-82 highs seen over the last couple of days. Cable has seen a similar price action, while AUD-USD posted… Read more »

XE Market Analysis: Asia – Oct 08, 2020

After heading slightly higher following the steady initial jobless claims and large drop in continuing claims, the Dollar pulled back some through the morning session. The DXY peaked at 93.77 early, later slipping to 93.59 lows. USD-major trading ranges remained relatively narrow. Wall Street stumbled after speaker Pelosi said she would not accept targeted stimulus(airlines,… Read more »

XE Market Analysis: North America – Oct 08, 2020

The dollar recouped lost ground against most peer currencies. EUR-USD settled to near net unchanged levels near 1.1750 after ebbing back from a 1.1781 high, which was set in early London trading. Dollar weakness had been a driver earlier. More dovish remarks have come from ECB policymakers, who have recently let it be known their… Read more »

XE Market Analysis: Europe – Oct 08, 2020

The dollar has traded softer, inversely correlating with rallying stock markets on Wall Street. S&P 500 E-minis are up 0.7%, while the cash version of the index closed yesterday with a 1.7% gain. Progress in the piecemeal approach to pandemic support packages in the U.S. along with positive news from the Covid vaccine and treatment… Read more »

XE Market Analysis: Asia – Oct 07, 2020

After rallying sharply on Tuesday after Trump canceled stimulus negotiations, then pulling back overnight as Trump offered up targeted stimulus, the Dollar was relatively steady through the N.Y. session on Wednesday. Fresh hopes for stimulus saw Wall Street erase Tuesday’s sharp losses, and sent Treasury yields higher. There was no data to move markets, and… Read more »

XE Market Analysis: North America – Oct 07, 2020

The dollar and yen fell back against most currencies during the European morning, concurrently with a rally in U.S. equity index futures after Trump tweeted that he is ready to sign-off on a support scheme for airlines (totalling $25 bln), wage protection ($135 bln), and a $1,200 stimulus check. This helped offset his abrupt postponement… Read more »

XE Market Analysis: Europe – Oct 07, 2020

The dollar has come off the boil after rallying during the New York afternoon when President Trump abruptly called off talks with the Democrats on further fiscal aid until after the election. This catalysed a bout of risk-off positioning, which featured dollar and yen buying in currency markets. Trump subsequently tweeted that he is ready… Read more »

XE Market Analysis: Asia – Oct 06, 2020

The Dollar ended higher in N.Y. trade on Tuesday, though ranges overall were relatively narrow. The DXY bounced modestly from the two-plus week low of 93.35 seen early in the session, to 93.64 during the afternoon session, after Trump said there would be no stimulus package until after the election. Risk-taking levels took a dive… Read more »

XE Market Analysis: North America – Oct 06, 2020

The dollar rebounded after earlier softening, concomitantly with an uncertain tone establishing across European stock markets and with U.S. index futures having reversed earlier gains. The pan-Europe STOXX 600 index was near net unchanged as of the early afternoon session. While President Trump’s return to the White House was greeted positively, uncertainties prevail: about the… Read more »

XE Market Analysis: Europe – Oct 06, 2020

The dollar has been trading on a mostly softer tack, alongside the yen, with risk appetite picking up in global markets after U.S. President Trump returned to his White House residence and with the Democrats and Republicans showing signs of progressing another fiscal support package. The good mood has waned somewhat in early European trade,… Read more »

XE Market Analysis: Asia – Oct 05, 2020

The Dollar was mostly lower in N.Y. trade on Monday, weighed down by the unwinding of long USD safe-haven positions as risk-on conditions returned. Reports that president Trump is doing better after being treated over the weekend for Covid, along with increased hopes that a U.S. fiscal aid package can be passed, combined to buoy… Read more »

XE Market Analysis: North America – Oct 05, 2020

Both the dollar and yen softened, while the dollar bloc outperformed the other main free floating currencies amid a bout of risk-back-on positioning in global markets, fuelled by positive news about U.S. President Trump’s health condition. EUR-USD traded firmer, printing a peak at 1.1760, which is 10 pips short of the 13-day peak that was… Read more »

XE Market Analysis: Europe – Oct 05, 2020

The yen has softened and the dollar bloc currencies have firmed amid a risk-back-on positioning theme, driven by encouraging reports about U.S. President Trump’s health. USD-JPY lifted to a peak at 105.61, which is 7 pips shy of Friday’s high. The biggest mover out of the main currencies has been AUD-JPY, which rallied by about… Read more »

XE Market Analysis: Asia – Oct 02, 2020

The Dollar rose slightly in early N.Y. trade on Friday, after trading mostly lower overnight following the news of President Trump’s positive Covid diagnosis. The September jobs report saw NFP come in lighter than expected, though prior-month upward revisions that left a combined gain near consensus forecasts. The data helped the Greenback modestly, though gains… Read more »

XE Market Analysis: North America – Oct 02, 2020

The yen and pound outperformed other currencies, the former finding safe haven demand amid pronounced risk-off positioning theme in global markets on news that President Trump, along with the First Lady and White House public relations counsellor, have tested positive for Covid, and the latter finding support from Brexit news. Global equity markets and most… Read more »

XE Market Analysis: Europe – Oct 02, 2020

The yen has rallied versus other currencies amid a pronounced risk-off positioning theme in global markets on news that President Trump, along with the First Lady and White House public relations counsellor, have tested positive for Covid. S&P 500 E-minis are 1.4%, and Asian stock markets and European equity index futures have also taken a… Read more »

XE Market Analysis: Asia – Oct 01, 2020

The Dollar fell into the N.Y. open on Thursday, though later made up some ground following some pretty decent U.S. data. The DXY partially recovered from the eight-session lows of 93.533 seen into the open, later topping at 93.90. The ADP jobs report was considerably better than expected, while continuing jobless claims fell sharply, and… Read more »

XE Market Analysis: North America – Oct 01, 2020

The dollar and yen weakened against most currencies, with sterling being the main exception as the UK currency took a sharp rotation lower on Brexit related developments. Cable dove by nearly over 0.6% to a 1.2821 low, while EUR-GBP rallied by nearly 1%. Weighing were reports that the EU and UK are struggling on key… Read more »

XE Market Analysis: Europe – Oct 01, 2020

The dollar and yen are back in the underperforming lane, with both currencies once again correlating inversely with global stock market direction. The USD index (DXY) is down for a fourth consecutive day in posting a nine-day low at 93.64, while EUR-USD lifted to a high so far at 1.1754, which is 2 pips shy… Read more »

XE Market Analysis: Asia – Sep 30, 2020

Risk-on conditions surged in N.Y. on Wednesday, resulting in a broadly lower Dollar, as safe-haven flows were partially reversed. Solid U.S. data, including a stronger ADP report, a firm Chicago PMI reading, and a surge in pending home sales all had had little impact on the FX market. Wall Street rallied sharply on hopes for… Read more »

XE Market Analysis: North America – Sep 30, 2020

The dollar and yen picked up some safe haven demand during pre-London trading in Asia, though not before printing fresh lows against many currencies in pre-London trading in Asia. Month- and quarter-end factors contributed to some positional chop in currencies and other markets. Stock markets tumbled in Europe before paring losses. S&P 500 E-minis also… Read more »

XE Market Analysis: Europe – Sep 30, 2020

The dollar and yen picked up some safe haven demand during pre-London trading in Asia, though not before printing fresh lows against many currencies. This saw EUR-USD ebb back to a 1.1723 low after earlier printing an eight-day high at 1.1755. EUR-JPY fell back to a low at 123.62 after posting a 12-day peak at… Read more »

XE Market Analysis: Asia – Sep 29, 2020

The Dollar was mixed and choppy in N.Y. trade on Tuesday, though the DXY ended the session under the 94.00 mark for the first time in four sessions. EUR-USD printed six-session highs of 1.1745, up from early lows of 1.1693. USD-JPY meanwhile, traded a narrow band between 105.53 and 105.70. USD-CAD stayed strong, as both… Read more »

XE Market Analysis: North America – Sep 29, 2020

The dollar and yen have continued to soften, especially the latter, even though global stock market rally has once again flagged. EUR-USD posted a six-day high at 1.1699, extending the rebound from the two-month low that was seen last Friday at 1.1612, and EUR-JPY lifted to an eight-day peak at 123.54. The euro itself did… Read more »

XE Market Analysis: Europe – Sep 29, 2020

The dollar and yen are softer, with both currencies continuing to correlate inversely with global stock market direction. EUR-USD posted a four-day high at 1.1684, extending the rebound from the two-month low that was seen last Friday at 1.1612, and EUR-JPY lifted to an eight-day peak at 123.33. Cable and GBP-JPY have seen a similar… Read more »

XE Market Analysis: Asia – Sep 28, 2020

The Dollar recovered some of its overnight losses in N.Y. on Monday. The DXY has fallen from 94.63 to 94.19 into the N.Y. open, then subsequently topped at 94.42 before settling in near 94.30. For U.S. data, the September Dallas Fed index was better than expected, and may have supported the USD at the margins…. Read more »

XE Market Analysis: North America – Sep 28, 2020

The dollar has softened concurrently with rallying global stock markets, losing most ground to the pound, which surged. The yen pared intraday gains as the equity rally picked up momentum during the European morning session. The USD index (DXY) dropped by 0.5% to within a pip of Friday’s low at 94.19, while EUR-USD rebounded to… Read more »

XE Market Analysis: Europe – Sep 28, 2020

The yen posted moderate gains in otherwise quiet, narrowly ranging currency markets. USD-JPY and yen crosses softened. More ECB policymaker signalling about their concern of euro valuations elicited EUR-JPY selling, which tipped the cross to a two-month low at 122.38. USD-JPY, meanwhile, gave back most of the gains that were seen on Friday in posting… Read more »

XE Market Analysis: Asia – Sep 25, 2020

The DXY printed fresh trend high of 94.74 in N.Y. on Friday, marking its sixth-straight higher daily high. Incoming U.S. data was light, though the durable orders outcome missed the mark, but had little lasting impact. Wall Street was extremely choppy through the session, as COVID, stimulus and election concerns kept investors off balance, though… Read more »

XE Market Analysis: North America – Sep 25, 2020

The dollar rose during the European morning, though remained below highs seen yesterday against most currencies. This occurred against a backdrop of steepening stock market losses in Europe, as rich valuations clash with evolving realities as Covid cases surge, along with associated restrictions and localized lockdowns. The pan-Europe STOXX 600 equity index dropped over 1%… Read more »

XE Market Analysis: Europe – Sep 25, 2020

The dollar settled off its Thursday highs in narrow range trading into the London interbank open. EUR-USD saw a less than 15-pip range around 1.1665-75, holding above the two-month low that was seen yesterday at 1.1626. Cable saw a similar price action. USD-JPY edged out a 10-day high at 105.56, superseding yesterday’s peak by a… Read more »

XE Market Analysis: Asia – Sep 24, 2020

The Dollar index printed new two-month highs of 94.59, later easing back to 94.27. USD profit taking set in as risk appetite shifted to positive from negative, after Treasury Secretary Mnuchin indicated further stimulus talks with Speaker Pelosi could be in the cards in the coming days. The action saw some unwinding of Dollar safe-haven… Read more »

XE Market Analysis: North America – Sep 24, 2020

The dollar gained for a fourth consecutive day. Global stock markets and commodity prices are sputtering, with yesterday’s rebound failing to sustain. EUR-USD made an eight-week low at 1.1633. USD-JPY lifted above 105.50, while most yen crosses have traded lower. AUD-JPY, for instance, has dropped by over 0.5% in making an 11-week low at 74.00…. Read more »

XE Market Analysis: Europe – Sep 24, 2020

The dollar is up for a fourth consecutive day, and the yen also gained in lockstep versus other currencie. The biggest losers were the dollar bloc and other commodity-correlating currencies, along with many developing world currencies, in what is a classic risk-off positioning pattern. Global stock markets and commodity prices tumbled again, with yesterday’s rebound… Read more »

XE Market Analysis: Asia – Sep 23, 2020

The DXY printed two-month highs of 94.30 in N.Y. morning trade on Wednesday, rallying early in the session before turning sideways. Today marked the third straight day of USD gains, which largely came on the back of safe-haven demand. Growing virus threats in Europe, weighing on growth prospects there, along with general market angst on… Read more »

XE Market Analysis: North America – Sep 23, 2020

The dollar pulled back a little after posting fresh highs. This saw EUR-USD lift back above 1.1700 after earlier posting fell to an eight-week low at 1.1673. A strong rebound in global stock markets is putting pressure back on the dollar and giving EUR-USD buoyancy, although with the ECB having engaged in a form of… Read more »

XE Market Analysis: Europe – Sep 23, 2020

The yen has been trading mixed today. USD-JPY edged above 105.00, while EUR-JPY and other yen crosses have traded softer. AUD-JPY fell by 0.5%, foraying further into 10-week low terrain, as expectations for another RBA rate cut cement in markets, which has been concomitant with recent declines in iron ore and other commodity prices. In… Read more »

XE Market Analysis: Asia – Sep 22, 2020

The Dollar firmed again in N.Y on Tuesday seeing the DXY trade on the 94 handle for the first time since late July. The index rallied from 93.58 early in the session to 94.07. Incoming data saw existing home sales in line with expectations, and the Richmond Fed index beating forecasts. Bot data points helped… Read more »

XE Market Analysis: North America – Sep 22, 2020

The dollar and yen have remained firm versus most other currencies. Stock markets managed to rebound in Europe after another negative session in Asia, while S&P 500 minis pared overnight losses. EUR-USD printed a seven-week low at 1.1720, and the prevailing bias looks likely to remain bearish. Aside from market participants have on net re-discovered… Read more »

XE Market Analysis: Europe – Sep 22, 2020

The dollar and yen have remained firm but mostly off Monday’s highs. The Australian dollar has been the only mover of note out of the main currencies we track, falling to new lows after RBA deputy governor Debelle said that the central bank is watching the currency “carefully” and that forex intervention is a policy… Read more »

XE Market Analysis: Asia – Sep 21, 2020

The Dollar had its best day in a while in N.Y trade on Monday, taking tie DXY to six-week highs of 93.78 from overnight lows of 92.75. Safe-haven USD buying was widespread, as global equities melted down on the back of rising virus cases in much of Europe, the lack of progress on U.S. stimulus,… Read more »

XE Market Analysis: North America – Sep 21, 2020

The dollar and yen rallied, the latter especially so amid safe haven demand as global stock markets and commodity prices turned sharply lower, which in the case of the greenback countervailed concerns about the approaching U.S. election and lower-for-longer Fed policy regime. EUR-USD dove to a four-day low at 1.1780, after pegging a five-day high… Read more »

XE Market Analysis: Europe – Sep 21, 2020

Dollar softness juxtaposed to yen firmness has been the dominant theme in currency markets so far today, which has been concomitant with tumbling global stock markets. USD-JPY dropped 0.4% in pegging a fresh seven-week lows under 104.20. Today racks up as the sixth straight trading day of decline, making this week the third consecutive week… Read more »

XE Market Analysis: Asia – Sep 18, 2020

The Dollar ended a bit lower overall in N.Y. on Friday, though ranges were narrow, and volumes reportedly light into the weekend. Incoming U.S. data saw the Q2 current account blow out to a 12-year high, though Michigan sentiment was better than expected, and leading indicators were in line with consensus. The reports had little… Read more »

XE Market Analysis: North America – Sep 18, 2020

The dollar and more especially the yen lifted during the London morning session. EUR-USD dropped back to the lower 1.1800s after pegging a two-day high at 1.1862. Yesterday’s five-week low is at 1.1737. A combo of EUR-JPY selling and broader dollar buying facilitated the decline in EUR-USD, which came amid a backdrop of flagging global… Read more »

XE Market Analysis: Europe – Sep 18, 2020

The dollar has scraped out a two-day low at 92.82 in the narrow trade-weighted (DXY) index, with EUR-USD concurrently pegging a two-day high at 1.1862, gaining quite sharply from yesterday’s five-week low at 1.1737. A steadying in stock markets today has seen the dollar ebb back, after finding safe haven demand during the worst of… Read more »

XE Market Analysis: Asia – Sep 17, 2020

Dollar gains seen following the FOMC on Wednesday, and through the overnight Asian session evaporated during London morning trade and through the N.Y. session on Thursday. The DXY stood at about 93.10 just ahead of the Fed, rallied to 93.58 in Asia, later bottoming at 93.06 in N.Y.. Mediocre U.S. data weighed some, as housing… Read more »

XE Market Analysis: North America – Sep 17, 2020

The dollar and yen gained concurrently with tumbling global stocks and commodity prices. EUR-USD consequently dropped to a five-week low at 1.1737 ahead of the European open, subsequently rebounding to the 1.1800 area. USD-JPY printed a seven-week low at 104.68. EUR-JPY also clocked a fresh seven-week nadir at 123.31, while AUD-JPY hit an eight-day low…. Read more »

XE Market Analysis: Europe – Sep 17, 2020

EUR-USD edged out a five-day low at 1.1829, extending the retreat from yesterday’s 1.1901 six-day peak. Expectations for the Fed to present upward revisions to U.S. economic projections at the conclusion of the FOMC meeting today, along with recent signs that the ECB is concerned about the euro, or at least would be if rising… Read more »

XE Market Analysis: Asia – Sep 16, 2020

The dollar headed a bit lower, then reversed course higher following the FOMC announcement, where policy was unchanged, as expected, though moves were modest. USD-JPY dipped from 104.98 to 104.80, then headed to 105.08 highs, as EUR-USD bounced from 1.1830 to 1.1855 before heading to 1.1805 lows. The FOMC’s “dot plot” indicated rates on hold… Read more »

XE Market Analysis: North America – Sep 16, 2020

The dollar has been trading softer into the FOMC announcement. EUR-USD rallied by just over 50 pips from the intraday low in posting a high at 1.1882, nearing yesterday’s six-day peak. Dollar weakness has been facilitated by relatively strong gains (0.5%, give or take) in Cable and AUD-USD. Regarding the FOMC, no changes are expected… Read more »

XE Market Analysis: Europe – Sep 16, 2020

EUR-USD edged out a five-day low at 1.1829, extending the retreat from yesterday’s 1.1901 six-day peak. Expectations for the Fed to present upward revisions to U.S. economic projections at the conclusion of the FOMC meeting today, along with recent signs that the ECB is concerned about the euro, or at least would be if rising… Read more »

XE Market Analysis: Asia – Sep 15, 2020

The Dollar headed mostly higher through the N.Y. morning session on Tuesday, after fading through the overnight session. Decent U.S. data helped sentiment, as the Empire State index rose more than expected. The 0.4% industrial production gain was smaller than expected, but it followed big upward revisions that left August levels that were just modestly… Read more »

XE Market Analysis: North America – Sep 15, 2020

The dollar softened against its peers amid a background theme of rallying global stock markets. The USD index (DXY) printed a five-day low at 92.79, while EUR-USD concurrently pegged a five-day high at 1.1900. USD-JPY ebbed modestly lower and posted a 15-day low at 105.53. AUD-USD rallied by over 0.7% to a 12-day high at… Read more »

XE Market Analysis: Europe – Sep 15, 2020

The dollar and yen softened against their peers amid a background theme of mostly higher stock markets. The main U.S. equity indexes closed on Wall Street yesterday with gains of over 1%, and S&P 500 mini is up 0.5% in overnight trading. Most Asia stock markets also gained, though some markets, including Japan and Australia,… Read more »

XE Market Analysis: Asia – Sep 14, 2020

The Dollar weakened some in morning N.Y.. trade on Monday, seeing the DXY dip to 92.88 from pre-opening levels of 93.19. There was no data to drive the FX market, though it appeared risk-on conditions for a time at least prompted some safe-haven USD selling. Wall Street rallied sharply, as vaccine hopes and new tech… Read more »

XE Market Analysis: North America – Sep 14, 2020

The dollar has softened against its peers amid a risk-on backdrop on global stock markets. News that University of Oxford/AstraZeneca resumed its phase-3 trial of its candidate vaccine for the coronavirus was taken as a buying cue for stock investors. That plus news of a batch of major merger activity. The USD index (DXY) dropped… Read more »

XE Market Analysis: Europe – Sep 14, 2020

Narrow ranges have been prevailing so far today. A backdrop of rallying stock markets haven’t inspired directional impetus in the forex realm. News that University of Oxford/AstraZeneca resumed its phase-3 trial of its candidate vaccine for the coronavirus was taken as a buying cue for stock investors. The trial had been paused last week after… Read more »

XE Market Analysis: Asia – Sep 11, 2020

The DXY was modestly higher in N.Y. on Friday, heading from 93.10 lows to 93.38 high in light trade. Warmer August CPI helped USD sentiment, but most major Dollar pairings plied relatively narrow ranges. The greenback found some safe-haven buying into the weekend, as Wall Street squandered early gains. Losses again were led by tech… Read more »

XE Market Analysis: North America – Sep 11, 2020

The dollar and yen remained on a softening tack, the pound hit fresh lows before paring losses, while the euro and dollar bloc currencies occupied the outperforming lane. EUR-USD drifted higher, posting an intraday peak at 1.1874. Broad demand for the euro has been driving, while concurrent gains in the dollar bloc currencies have been… Read more »

XE Market Analysis: Europe – Sep 11, 2020

The dollar and yen ebbed moderately, especially against the dollar bloc currencies, which lifted concomitantly with a rebound in U.S. equity index futures after another sharply negative close on Wall Street yesterday. Global stock markets are still set for their first down week since March. In the U.S., the failure of the Senate to gets… Read more »

XE Market Analysis: Asia – Sep 10, 2020

The Dollar started the session on a softer footing in N.Y. on Thursday, as risk-on conditions looked to be in order for the day. ECB chief Lagarde at her press conference was less than dovish in her presser, and for now, remains unconcerned by Euro strength. This saw EUR-USD head higher. In addition, while August… Read more »

XE Market Analysis: North America – Sep 10, 2020

The dollar has been on the ebb, inversely correlating with the strong rebound on Wall Street yesterday, which spilled over to most Asian stock markets today. The USD index (DXY) drifted to a two-day low at 93.02, while EUR-USD etched out a three-day high at 1.1846, extending the rebound from yesterday’s one-month low at 1.1753…. Read more »

XE Market Analysis: Europe – Sep 10, 2020

The dollar has been on the ebb, inversely correlating with the strong rebound on Wall Street yesterday, which spilled over to most Asian stock markets today. The USD index (DXY) drifted to a two-day low at 93.07, while EUR-USD etched out a three-day high at 1.1836, extending the rebound from yesterday’s one-month low at 1.1753…. Read more »

XE Market Analysis: Asia – Sep 09, 2020

The DXY pulled back in N.Y. trade on Wednesday, after printing a one-month high of 93.65 ahead of the open. The index bottomed at 93.15 in late morning trade. Wall Street rallied sharply, with tech sector buying leading the charge, as investors were quick to step back in after the NASDAQ corrected 10% over the… Read more »

XE Market Analysis: North America – Sep 09, 2020

Dollar and yen firmness, and sterling underperformance has continued for a second day. The narrow trade-weighted USD index (DXY) lifted to a one-month peak at 93.64, extending the rebound from the 29-month low that was seen last week at 91.75. EUR-USD concurrently carved at a one-month low at 1.1753. USD-JPY ebbed to an eight-day low… Read more »

XE Market Analysis: Europe – Sep 09, 2020

Dollar and yen firmness, and sterling underperformance has continued for a second day amid a backdrop of tumbling global stock markets (although U.S. index futures have stabilized). The narrow trade-weighted USD index (DXY) lifted to a one-month peak at 93.56, extending the rebound from the 29-month low that was seen last week at 91.75. EUR-USD… Read more »

XE Market Analysis: Asia – Sep 08, 2020

The DXY hit near three-week highs of 93.47 in N.Y. morning trade, up from overnight lows of 93.00. Another risk-off session kept pressure on the risk-sensitive USD-JPY, though the USD remained firm versus the other major currencies. There was nothing in the way of data to drive markets, as another sharp day of declines on… Read more »

XE Market Analysis: North America – Sep 08, 2020

The pound came under heavy Brexit-related pressure during the London morning, while the dollar and yen outperformed their peer group. Stock markets in Europe and U.S. equity index futures tumbled, while Asian equities mostly closed higher. Cable dropped over 1% in pegging a four-week low at 1.3023, while EUR-GBP rallied to a three-week high at… Read more »

XE Market Analysis: Europe – Sep 08, 2020

The dollar traded firmer against most peer currencies amid a backdrop of rebounding global stock markets. The narrow trade-weighted USD index printed a four-day high at 93.20, while EUR-USD ebbed to a four-day low at 1.1795. Cable, which is down for a fifth consecutive trading day, posted a 13-day low at 1.3128, while EUR-GBP concurrently… Read more »

XE Market Analysis: North America – Sep 07, 2020

Sterling has dropped sharply on reports, initially by the FT, that the UK government is planning to unpick parts of the withdrawal agreement that was signed with the EU in January, including elements of the special arrangements for Northern Ireland that are legally binding. Cable dove by over 1% to 12-day lows under 1.3150, and… Read more »

XE Market Analysis: Europe – Sep 07, 2020

A sleepy market was stirred by a drop in the pound, prompted by reports, initially by the FT, that the UK government is planning to unpick parts of the withdrawal agreement that was signed with the EU in January, including elements of the special arrangements for Northern Ireland that are legally binding. A government source… Read more »

XE Market Analysis: Asia – Sep 04, 2020

The Dollar rallied on Friday after the the solid U.S. August employment report, which saw non-farm payrolls increase nearly 1.4 mln, in-line with expectations. Earnings were better than forecasts, while the unemployment rate tumbled to 8.4% from 10.2%. Wall Street continued with its correction, the the tech-heavy NASDAQ again leading the charge lower. Profit taking… Read more »

XE Market Analysis: North America – Sep 04, 2020

Narrow ranges have been prevailing ahead of the U.S. August payrolls report. Markets are also trading cautiously into next Thursday’s ECB meeting, with some of the more dovish governing council members having this week expressed their concern about the appreciating trend of EUR-USD. The common currency has been settled in a narrow range in the… Read more »

XE Market Analysis: Europe – Sep 04, 2020

The dollar has is at softer levels in narrow ranges following the sharp tech-led correction on Wall Street, which has in led to a sizeable retreat in global stock markets. The narrow trade-weighted USD index (DXY) settled just above yesterday’s low at 92.69. The low was the culmination of a drop from the one-week high… Read more »