Category: Commodities & Markets News

Commodities and financial market news from external sources.

XE Market Analysis: Asia – Apr 03, 2020

The Dollar headed to near or at highs of the week against the Euro, Pound and Yen on Friday. The DXY printed seven-session highs of 100.85, though trading ranges were confined. Save-haven flows into the USD were maintained this week, coming despite the horrendous jobless claims on Thursday, and the much worse than expected employment… Read more »

XE Market Analysis: North America – Apr 03, 2020

The dollar has outperformed so far today amid a backdrop of souring risk appetite in global markets, with bellwether European stock indices and S&P 500 futures showing losses of about 1%. Oil prices have been choppy following yesterday’s massive 24% rally, but have remained below yesterday’s highs. Doubts remain about the reported Russia-Saudi deal to… Read more »

XE Market Analysis: Europe – Apr 03, 2020

Narrow ranges have been prevailing among the main dollar pairings and associated crosses, which has come with global stock markets undergoing a sputtering price action. Asian stock markets have traded mostly lower, and S&P 500 futures are showing a 1.2% decline, correcting after the cash version of the index close out yesterday with a 2.3%… Read more »

XE Market Analysis: Asia – Apr 02, 2020

The Dollar index rallied in N.Y. on Thursday, printing a one-week high of 100.27, after opening near 99.55. Safe-haven USD buying was likely following the huge 6.6 mln rise in weekly jobless claims, and later appeared to have got a boost from the as much as 30% rally in oil prices, which came following a… Read more »

XE Market Analysis: North America – Apr 02, 2020

A 10%-plus rebound in crude prices catalyzed gains in oil-correlating currencies, including the Canadian dollar and Norwegian krona, and other commodity currencies, while helping give stock markets a lift after a sputtering session in Asia. The pan-Europe STOXX 600 index was showing a 0.5% gain as of the early PM session, while S&P 500 futures… Read more »

XE Market Analysis: Europe – Apr 02, 2020

Finally a day of narrow ranges and calmness in currency markets. The main dollar pairings and cross rates have so far seen little direction, remaining well within ranges seen yesterday for the most party, though the Canadian dollar and Norwegian krona gained amid a strong rally in oil prices. USD-JPY and yen crosses have been… Read more »

XE Market Analysis: Asia – Apr 01, 2020

The Dollar was mixed in N.Y. trade on Wednesday, though ranges overall were narrower than recent sessions. It was a risk-off session, as COVID-19 cases continued to rise unabated. Wall Street was sharply lower, while Treasury yields sank. Incoming data was better than expected, with ADP jobs losses less than forecast, and the manufacturing ISM… Read more »

XE Market Analysis: North America – Apr 01, 2020

The dollar and yen have outperformed amid a backdrop of a coursing risk-off theme in global markets, which saw both the pan-Europe STOXX 600 equity index and S&P 500 futrues rack up a loss of around 3%. Asian equity markets also came under pressure. March manufacturing data in Asia and Europe showed sharp contractions as… Read more »

XE Market Analysis: Europe – Apr 01, 2020

Commodity currencies have come under pressure as the winds of risk aversion picked up again. Asian stock markets are lower, while European and U.S. equity index futures are showing losses of around 3%. Data out of Asia today were nothing short of dismal, showing manufacturing contracting across most of the region, highlighting the economic toll… Read more »

XE Market Analysis: Asia – Mar 31, 2020

The Dollar index headed lower in N.Y. on Tuesday, touching 98.99, down from opening highs of 99.93. Month and quarter end related USD selling was reported through the morning session. Incoming data saw better than expected Chicago PMI and consumer confidence prints, though markets continue to look past the data in an environment of rapidly… Read more »

XE Market Analysis: North America – Mar 31, 2020

The dollar has traded firmer for a second day, rebounding from recent underperformance, which had been a reflection of the Fed’s aggressive actions to satiate demand for dollars. More broadly, global markets have settled in what are comparatively narrowly ranges by recent standards. The commodity currencies have traded softer, suggesting there is little buy-in to… Read more »

XE Market Analysis: Europe – Mar 31, 2020

The dollar has traded firmer for a second day, rebounding from recent underperformance, which was a reflection of the Fed’s aggressive actions to satiate demand for dollars. More broadly, global markets have settled in what are comparatively narrowly ranges by recent standards. The pound is showing a near 1% decline against the dollar, and is… Read more »

XE Market Analysis: Asia – Mar 30, 2020

The Dollar index bounced modestly in N.Y. on Monday, after getting hammered lower last week. The DXY rallied from opening lows of 98.92 to 99.31 highs. The USD touched its worst levels of the day following the Dallas Fed index, which plunged to -70.0 from 1.2, on the back of coronavirus and cratering oil prices…. Read more »

XE Market Analysis: North America – Mar 30, 2020

The dollar has traded steady-to-firmer against the other main currencies so far today. Influenced by a 0.5% decline in EUR-USD, the narrow trade-weighted USD index (DXY) lifted to a 98.98 high, over 60 pips up on Friday’s closing level and setting the index up for its first daily gain since last Monday. The yen has… Read more »

XE Market Analysis: Europe – Mar 30, 2020

The dollar has traded steady-to-firmer against the other main currencies so far today. Influenced by a 0.5% decline in EUR-USD, the narrow trade-weighted USD index (DXY) lifted to a 98.92 high, over 50 pips up on Friday’s closing level and setting the index up for its first daily gain since last Monday. The yen has… Read more »

XE Market Analysis: Asia – Mar 27, 2020

The Dollar index fell to near two-week lows in N.Y. on Friday, sliding from 99.80 to 98.51. The USD lost ground to all major currencies, as unwinding of safe-haven Dollar flows continued to reverse the gains seen in thew prior two-weeks. It was risk-off through the session, as COVID-19 cases in the U.S. surpassed China…. Read more »

XE Market Analysis: North America – Mar 27, 2020

The dollar declined and then recovered some of its losses, which saw the narrow trade-weighted USD index (DXY) print a nine-day low at 99.15 before recouping levels back above 99.50 . At the lows, the index was showing a correction of 3.2% from the 38-month high that was seen last week, which can be credited… Read more »

XE Market Analysis: Europe – Mar 27, 2020

The dollar declined and then recovered some of its losses, which saw the narrow trade-weighted USD index (DXY) print a nine-day low at 99.15 before recouping levels back above 99.40 . At the lows, the index was showing a correction of 3.2% from the 38-month high that was seen last week, which can be credited… Read more »

XE Market Analysis: Asia – Mar 26, 2020

The Dollar was lower across the board in N.Y. trade on Thursday. The unwinding of huge flows seen into the USD over the past couple of weeks related to virus related safe-haven buying has been driven by huge Fed stimulus, and the passing of the Congressional virus aid package. Barring new COVID-19 developments, we look… Read more »

XE Market Analysis: North America – Mar 26, 2020

Dollar weakness emerged as the dominant theme in currency markets, even against the commodity currencies amid a risk-off backdrop, while managed to rebound from weakness seen during the early part of Asia-Pacific session trading today. AUD-USD, for instance, printed a two-day low at 0.5780 in Sydney before recouping a big figure to a 0.5881 high…. Read more »

XE Market Analysis: Europe – Mar 26, 2020

..and, back to a risk-averse trading pattern in currencies after a couple of days of reprieve, with the yen back to outperformance and commodity and developing-world currencies to underperformance. The dollar has firmed up against the latter two groups, but has lost ground to the yen and even the euro thanks to the Fed’s spigot… Read more »

XE Market Analysis: Asia – Mar 25, 2020

The DXY firmed in N.Y. morning trade on Wednesday, peaking at 101.87, before easing back to 101.24. The index has posted three consecutive sessions of lower daily highs, which have likely come following stimulus measures including Dollar swap lines from the Fed to G7 countries, which have reduced the demand for USD in the FX… Read more »

XE Market Analysis: North America – Mar 25, 2020

The commodity and many developing world currencies pared gains against the dollar, yen and Swiss franc. The pound also continued to outperform for a second day. Asian stock markets rallied after the DJIA equity index posted its biggest single-day rally on Wall Street since 1933, though European markets gave up early gains, while S&P 500… Read more »

XE Market Analysis: Europe – Mar 25, 2020

The commodity and many developing world currencies have continued to rebound, while the dollar, yen and Swiss franc have traded generally softer. This comes with Asian stock markets rallying after the DJIA equity index posted its biggest single-day rally on Wall Street since 1933. The U.S. Senate and White reached agreement on a $2 tln… Read more »

XE Market Analysis: Asia – Mar 24, 2020

The Dollar pulled back overnight, leaving the DXY at 101.07 into the N.Y. open on Tuesday. From there, USD demand returned, taking the index back over 102.10. Hopes for a Senate coronavirus stimulus package buoyed Wall Street, with major indices up near 10% intra day. New home sales were better than expected, though the results… Read more »

XE Market Analysis: North America – Mar 24, 2020

Currencies have been moving in a risk-on formation, with the dollar, yen and Swiss franc weakening against most other currencies, with the commodity and many developing-world currencies outperforming. This came with S&P 500 futures rallying strongly, by over 5% to more than reverse the 2.9% closing loss the cash version of the index saw yesterday… Read more »

XE Market Analysis: Europe – Mar 24, 2020

Currencies moved in a risk-on formation, with the dollar, yen and Swiss franc weakening against most other currencies, with the commodity and many developing-world currencies outperforming. This came with S&P 500 futures rallying strongly, more than reversing the 2.9% closing loss the cash version of the index saw yesterday on Wall Street. Asian stock markets,… Read more »

XE Market Analysis: Asia – Mar 23, 2020

The Dollar fell early in N.Y. trade on Monday, following the Fed announced it would use “its full range of tools to support the economy,” announcing unlimited QE as it steps up support measures. The DXY fell from 102.81 to 101.66 before finding a footing. From there, after the U.S. Senate failed to pass a… Read more »

XE Market Analysis: North America – Mar 23, 2020

The dollar, yen, Swiss franc, and euro, have outperformed while the commodity and many developing nation economies, especially those of export orientated economies and/or with high dollar borrowing, have underperformed. The pound also found itself on the underperforming list, although remaining above recent lows. The dollar rallied across-the-board at the opening of trading before paring… Read more »

XE Market Analysis: Europe – Mar 23, 2020

The familiar risk-off positioning pattern has been seen among currencies, with the yen outperforming while the commodity and many developing nation economies, especially those of export orientated economies and/or with high dollar borrowing, underperformed. The dollar rallied across-the-board (even against the yen) at the opening of trading before paring those gains. Asia stock markets racked… Read more »

XE Market Analysis: Asia – Mar 20, 2020

The Dollar headed higher in N.Y. trade on Friday, after pulling back some through the overnight session. Pre-weekend USD demand was noted, as a flight to safety into potential risk events was a driver. Markets retained extreme levels of volatility through the session, seeing equity markets gyrate between positive and negative. Treasury yields were lower…. Read more »

XE Market Analysis: North America – Mar 20, 2020

The dollar has taken a rotation lower following interventions and the threat of interventions over the last day, while commodity and many developing world currencies have rebounded strongly following a period of pronounced underperformance. Also in the mix is the plethora of central bank actions to shore up liquidity and loosen monetary policy, which, along… Read more »

XE Market Analysis: Europe – Mar 20, 2020

Interventions and the threat of interventions has seen the dollar soften while commodity and many developing world currencies have rebounded strongly following a period of pronounced underperformance. Also in the mix is the plethora of central bank actions to shore up liquidity and loosen monetary policy, along with the massive fiscal rescue packages being assembled… Read more »

XE Market Analysis: Asia – Mar 19, 2020

Another day, another trend high for the DXY. The index topped at three-plus year highs of 102.58, up from overnight lows of 100.78, and lows of 94.65 seen as recently as March 9. Safe-haven Dollar demand remains in force amid the virus pandemic, which has crushed all asset classes, as investors turn to cash Dollars… Read more »

XE Market Analysis: North America – Mar 19, 2020

The dollar remained firm amid a continuing backdrop of highly skittish global markets, while traditional safe havens, including U.S. Treasuries and many other sovereign bonds, and gold, have remained under pressure. Australian 10-year bonds has undergone its biggest three-day drop since 1987. Liquid, safe cash, and preferably in U.S. dollars, is what investors want right… Read more »

XE Market Analysis: Europe – Mar 19, 2020

The dollar remained firm amid a continuing backdrop of highly skittish global markets, while traditional safe havens, including U.S. Treasuries and many other sovereign bonds, and gold, have remained under pressure. Australian 10-year bonds has undergone its biggest three-day drop since 1987. Liquid, safe cash, and preferably in U.S. dollars, is what investors want right… Read more »

Aussie dollar sinks to 19-year lows

The Australian dollar continues to be pounded by the economic and financial impacts associated with coronavirus, sinking to new 19-year lows this morning. Source: Beef Central Aussie dollar sinks to 19-year lows

XE Market Analysis: Asia – Mar 18, 2020

The Dollar index surged to three-year highs of 101.73 in N.Y. trade on Wednesday, up from overnight lows of 99.16. Heavy demand for cash Dollars has been driving the USD higher, as the virus panic appears to rise on a daily basis. Wall Street was crushed lower, resulting in the tripping of a circuit breaker… Read more »

XE Market Analysis: North America – Mar 18, 2020

The yen has outperformed amid nervous global markets, though concurrent dollar strength has seen USD-JPY lift back above 107.00 from a 106.76 low. The commodity and most developing world currencies remained under pressure. AUD-JPY dropped to a new 11-year low, and AUD-USD posted a fresh 17-year low. The MSCI Asia-Pacific (ex-Japan) equity index to its… Read more »

XE Market Analysis: Europe – Mar 18, 2020

The dollar has remained firm amid nervous global markets, with demand for cash dollars remaining high while some traditional safe haven assets, such as gold and U.S. Treasuries, have nonetheless remained under pressure as investors rebalance portfolios and build cash cushions to cover margin calls. U.S. bonds have been falling despite the Fed buying up… Read more »

XE Market Analysis: Asia – Mar 17, 2020

The DXY printed better than three-week highs of 99.82 in N.Y. on Tuesday, bringing the three-plus year top of 99.91 seen in February back into focus. Virus related safe-haven buying has remained a driver of Dollar strength since the beginning of last week, as risk-taking levels overall remain pressured. Tuesday was an exception, as Wall… Read more »

XE Market Analysis: North America – Mar 17, 2020

The dollar has rallied quite strongly, posting a 1.3% gain against the euro and sterling, and gains of more than 1% versus the yen and Swiss franc, and advances of over 1.5% in the case against the Australian dollar. The narrow trade-weighted USD index (DXY), which correlates closely with EUR-USD, is up 1%, climbing back… Read more »

XE Market Analysis: Europe – Mar 17, 2020

The dollar has outperformed while the yen has underperformed so far today, against a backdrop of rebounding European and U.S. equity index futures, and with Asian stock markets managing to lift out of early weakness. S&P 500 futures rallied by nearly 4% after the cash version of bellwether index crashed with a 11.98% loss yesterday… Read more »

XE Market Analysis: Asia – Mar 16, 2020

The Dollar index firmed up in early N.Y. trade on Monday, with safe-haven flows driving the modest move higher. The DXY later steadied off its high of 98.44, finding support into 98.00. The U.S. Empire State manufacturing index dropped a record 34.4 points to 21.5 in March, much lower than expected but that’s likely to… Read more »

XE Market Analysis: North America – Mar 16, 2020

The yen has rallied on broad risk-off positioning as stock and commodity markets tumbled and top grade sovereign bonds rose. As for other currencies, the dollar bloc and other commodity currencies have underperformed, along with BRIC and other developing-world currencies. The dollar traded firmer against these underperformers, but lost ground to most of the other… Read more »

XE Market Analysis: Europe – Mar 16, 2020

The yen has rallied amid the force of risk-off positioning, as stock and commodity markets tumbled and top grade sovereign bonds rose. As for other currencies, the dollar bloc and other commodity currencies have underperformed, along with BRIC and other developing-world currencies. The dollar traded firmer against these underperformers, but lost ground to most of… Read more »

XE Market Analysis: Asia – Mar 13, 2020

The Dollar ended the week on a high note, after posting gains since Tuesday. The DXY topped at a two-week high of 98.78 on Friday, coming from the 18-month low of 94.65 seen Monday. It was a risk-on session to end a very rough week, as Wall Street and Treasury yields rebounded some following massive… Read more »

XE Market Analysis: North America – Mar 13, 2020

The yen has weakened as safe haven premiums unwound as European stock markets and U.S. equity index futures rallied, and after Asian stock markets pared steep early losses. Oil prices, along with base metals and other commodities, also rebounded, while yields of top grade government bonds lifted. Liquidity injections by the Fed in the U.S.,… Read more »

XE Market Analysis: Europe – Mar 13, 2020

The yen weakened as safe haven premiums unwound as Asian stock markets pared steep early losses and U.S. and European index futures rebounded. Oil prices, along with base metals and other commodities, also rose, while yields of top grade government bonds lifted. Liquidity injections by the Fed in the U.S., the RBA in Australia, and… Read more »

XE Market Analysis: Asia – Mar 12, 2020

The Dollar index rallied to two-week highs of 97.64, up from overnight Asian lows of 96.09, and Monday lows of 94.65. Safe-haven USD demand was noted given the severe risk-off backdrop, which allowed even risk-sensitive USD-JPY to post gains over 105.00 EUR-USD printed better than one-week lows of 1.1059, while USD-CAD made four-year highs of… Read more »

XE Market Analysis: North America – Mar 12, 2020

Risk-off positioning has returned to dominance in global markets, which in currency markets has meant yen and Swiss franc gains juxtaposed to underperformance in the dollar bloc, other commodity currencies and many developing world currencies, with the dollar in the middle of these groups, losing group to its major peers while gaining versus currencies with… Read more »

XE Market Analysis: Europe – Mar 12, 2020

Risk-off positioning has returned to dominance in global markets, which in currency markets means yen and Swiss franc gains juxtaposed to underperformance in the dollar bloc, other commodity currencies and many developing world currencies, with the dollar in the middle of these groups, losing group to its major peers while gaining versus currencies with higher… Read more »

XE Market Analysis: Asia – Mar 11, 2020

The Dollar index recovered to highs of the week in N.Y. trade on Wednesday, though risk-off conditions returned, with markets continuing to react to the widening coronavirus crisis, which the W.H.O. finally declared a pandemic, and uncertainty over what U.S. fiscal stimulus measures may be at hand. Wall Street was crushed again while Treasury yields… Read more »

XE Market Analysis: North America – Mar 11, 2020

Market dynamics have been somewhat convoluted. The pound dropped after the BoE unexpectedly cut rates before recovering its losses. The yen strengthened in Asia before paring this gains. The dollar, meanwhile, posted declines against most currencies, including the dollar bloc currencies. EUR-USD lifted to a 1.1366 high before ebbing back to the 1.1330 area, remaining… Read more »

XE Market Analysis: Europe – Mar 11, 2020

The yen has outperformed again as stock markets fell back in Asia. The pound also took a hit, although subsequently pared losses, after the BoE unexpectedly announced an intra-meeting emergency rate cut of 50 bp, which put the repo rate at 0.25%. Cable fell by just over 90 pips in posting a one-week low at… Read more »

XE Market Analysis: Asia – Mar 10, 2020

The Dollar put in a rare up-day on Tuesday, with the DXY recovering to 96.20 from early lows of 95.62.A partial recovery in stocks, along with firmer Treasury yields helped support the USD. There was no top tier data to move the markets on Tuesday, though focus remained on the spread of coronavirus. Talk of… Read more »

XE Market Analysis: North America – Mar 10, 2020

A risk-back-on vibe saw the yen weaken and sovereign bond yields rise from record lows as markets re-priced safe haven currencies and assets, while commodity currencies and many developing world currencies rebounded concomitantly with global stock markets and many commodities from lows seen yesterday. Hopes for coordinated fiscal and monetary stimulus from major economies, along… Read more »

XE Market Analysis: Europe – Mar 10, 2020

A risk-back-on vibe saw the yen weaken and sovereign bond yields rise from record lows as markets re-priced safe haven currencies and assets, while commodity currencies and many developing world currencies rebounded concomitantly with Asian stock markets and many commodities from lows seen yesterday. Hopes for coordinated fiscal and monetary stimulus from major economies, along… Read more »

XE Market Analysis: Asia – Mar 09, 2020

The Dollar index fell to 18-month lows of 94.66 in N.Y. trade on Monday, falling sharply on the back of record low Treasury yields, and severe risk-off conditions. Prospects for further Fed rate cuts will keep the USD under pressure for the time being. The start of an oil price war saw crude prices plunge… Read more »

XE Market Analysis: North America – Mar 09, 2020

The yen has surged by over 4% versus the commodity bloc currencies — massive intraday movements by the standards of trading in the prevailing era — as global markets slammed the risk-off button amid heightening panic about the global economic impact that the COVID-19 virus pandemic is having. Oil prices were slammed, diving by a… Read more »

XE Market Analysis: Europe – Mar 09, 2020

The yen has surged by over 4% versus the commodity bloc currencies — massive intraday movements by the standards of trading in the prevailing era — as global markets slammed the risk-off button amid heightening panic about the global economic impact that the COVID-19 virus pandemic is having. Oil prices were slammed, diving by a… Read more »

XE Market Analysis: Asia – Mar 06, 2020

The Dollar index fell to a 14-month low of 95.72 in N..Y. trade on Friday. Near-panic conditions prevailed, seeing Treasury yields collapse further, while further Fed rate cuts are priced in. A stronger than expected U.S. February employment provided a modicum of support, though pre-weekend short covering gave the USD a bit of a boost… Read more »

XE Market Analysis: North America – Mar 06, 2020

Another day of dollar underperformance, which has been concurrent with a precipitous tumble in U.S. Treasury yields. The COVID-19 virus, while having so far having disrupted some other economies more than the U.S. (China, Japan and South Korea, for instance), is proving to be a leveller of the hitherto relatively robust status of the U.S…. Read more »

XE Market Analysis: Europe – Mar 06, 2020

The dollar has continued to weaken versus most other currencies, correlating with the sharp decline in U.S. Treasury yields. The 10-year T-note yield looks to be on a fast track to catch up with the likes of Bunds and JGB in the negative yielding club, having today printed a fresh record low of 0.815%, dropping… Read more »

XE Market Analysis: Asia – Mar 05, 2020

The Dollar index traded to fresh two-month lows in N.Y. on Thursday, with losses coming on the back of the pricing in of further Fed rate cuts, and Treasury yields diving to new all-time lows. Wall Street gave back Wednesday’s sharp gains, as coronavirus fears remained firmly entrenched. Incoming data included an in-line jobless claims… Read more »

XE Market Analysis: North America – Mar 05, 2020

The dollar has come back under pressure versus its major counterparts as the 10-year Treasury yield dropped sharply back under 1.0%. The U.S. currency posted a five-month low against the yen and tracking back to recent trend lows versus the euro, though fared better against the dollar bloc and developing-world currencies. Positioning in the Fed… Read more »

XE Market Analysis: Europe – Mar 05, 2020

Relatively narrow ranges have been seen so far today among the main currencies, which marks something of a contrast by recent choppy standards. The dollar’s on-the-fact rebound following the Fed’s 50 bp rate cut on Monday, which had been discounted, albeit coming sooner than expected, has run out of steam with positioning in the Fed… Read more »

XE Market Analysis: Asia – Mar 04, 2020

The Dollar was fairly steady in N.Y. trade on Wednesday, though had bounced some in London morning trade. The DXY peaked at 97.55 into the open, later settling into a narrow trading band. Sentiment was aided by a better ADP employment report. Risk-on conditions prevailed following Tuesday post-Fed rate cut panic, allowing stocks to rally… Read more »

XE Market Analysis: North America – Mar 04, 2020

The dollar has found its feet after a phase of underperformance against the euro and some other major currencies. After dipping to fresh lows in the immediate wake of the Fed’s 50 bp emergency rate cut yesterday, the narrow trade-weighted USD index (DXY) lifted out of a two-month low at 96.98 to levels around 97.35… Read more »

XE Market Analysis: Europe – Mar 04, 2020

The yen has softened and the dollar bloc currencies have firmed. Most other commodity and developing world currencies have also gained. USD-JPY, after initially dipping in early Tokyo trade, which left a five-month low at 106.84, lifted back above 107.50. EUR-JPY, AUD-JPY and other yen crosses followed suit. Stock markets in Asia sputtered and traded… Read more »

XE Market Analysis: Asia – Mar 03, 2020

The Dollar index fell to two-month lows of 97.00 from 97.67 at the open. The (semi) surprise 50 basis point emergency Fed rate cut was behind the move. This was the first intermeeting move, and the largest, in over a decade. The new target is 1.0% to 1.25%. The Fed reiterated the COVID-19 virus is… Read more »

XE Market Analysis: North America – Mar 03, 2020

The main currencies have been trading without clear direction, with most of the major dollar pairings holding within Tuesday’s ranges. The yen firmed during the Tokyo session, rebounding out of early weakness, while most Asian and developing-world currencies came back under pressure as markets took a more circumspect view of expected global monetary easing, with… Read more »

XE Market Analysis: Europe – Mar 03, 2020

The yen firmed during the Tokyo session, rebounding out of early weakness, while most Asian and developing-world currencies came back under pressure as markets took a more circumspect view of expected global monetary easing, with some narratives questioning the efficacy of such a policy response in the face of travel restrictions and other disruptions from… Read more »

XE Market Analysis: Asia – Mar 02, 2020

The Dollar index fell to levels last seen on January 16, bottoming at 97.18 in afternoon trade. Prospects for a Fed rate cut, as soon as the March policy announcement on March 18 have weighed on the USD for the past couple of weeks, with futures now pricing a 75% chance for a 75 bp… Read more »

XE Market Analysis: North America – Mar 02, 2020

Currency markets have remained skittish, as have global financial markets generally. Stock markets mostly rose in Asia only to mostly decline in Europe. The safe haven yen rebounded some during the London morning session after losing ground in Tokyo trading, while the dollar bloc and other currencies with higher beta characteristics came back under pressure… Read more »

XE Market Analysis: Europe – Mar 02, 2020

Some respite from virus anxiety and a partial unwinding in risk-off positioning saw the yen weaken and the commodity bloc and other currencies with higher beta characteristics rebound. Amid this broad theme was a continued outperformance in the euro versus most of the other main currencies, outside the dollar bloc. The biggest movers out of… Read more »

XE Market Analysis: North America – Feb 28, 2020

The yen has remained underpinned by safe haven demand, with coronavirus anxiety at fever pitch. USD-JPY dove more than 0.6% in printing a 24-day low at 108.51. EUR-JPY fell over 0.8% to a three-day low at 119.68. AUD-JPY, widely seen as a forex market barometer of risk appetite and a liquid currency proxy on China,… Read more »

XE Market Analysis: Europe – Feb 28, 2020

Risk-off positioning underpinned the yen while weighing on the dollar bloc and other currencies with a high beta characteristic, with coronavirus anxiety remaining full on. USD-JPY dove more than 0.6% in printing a 24-day low at 108.79. The pair has now declined by just over 3% from the high seen last week. EUR-JPY fell over… Read more »

XE Market Analysis: Asia – Feb 27, 2020

The Dollar index hit three-week lows in N.Y. on Thursday, printing 98.36 from opening levels near 98.70, before heading back over 98.60. Uncertainty over the spread of the coronavirus in the U.S. drove the Dollar lower, and prompted another opening rout on Wall Street, which took the NASDAQ and DJIA into correction territory. Incoming data… Read more »

XE Market Analysis: North America – Feb 27, 2020

Dollar weakness has been a feature, concurrent with the U.S. 10-year T-note yield hitting a fresh record low, while sterling and the Canadian dollar have also underperformed. The Australian dollar, meanwhile, managed a bounce from 11-year lows, and the yen and Swiss franc traded mixed, losing ground to an outperforming euro while gaining versus other… Read more »

XE Market Analysis: Europe – Feb 27, 2020

The dollar has been trading mostly softer, concomitantly with the U.S. 10-year Treasury yield posting a fresh record low in Asian trading, though the greenback still managed modest gains versus the Canadian dollar, which has underperformed as oil prices hit 14-month lows. The narrow trade-weighted USD index (DXY) printed a two-week low at 98.86, extending… Read more »

XE Market Analysis: Asia – Feb 26, 2020

The Dollar index was steady in N.Y. trade on Wednesday, though ranges were relatively narrow. Market concern over the caronavirus ramped up after reports there were more new cases of the disease outside of China than inside China. Source: XE news feed XE Market Analysis: Asia – Feb 26, 2020

XE Market Analysis: North America – Feb 26, 2020

The dollar bloc and most developing world currencies remained under pressure amid an ongoing fragile sentiment in global markets. The Australian dollar tumbled to fresh major-trend lows versus the U.S. dollar following a big miss in Q4 construction data out of Australia, which contracted 3.0% q/q versus the median forecast for -1.0%. Source: XE… Read more »

XE Market Analysis: Europe – Feb 26, 2020

The Australian dollar tumbled to fresh major-trend lows versus the U.S. dollar following a big miss in Q4 construction data out of Australia, which contracted 3.0% q/q versus the median forecast for -1.0%. The data suggests Q4 GDP may be weaker than expected, and that’s before the Q1 impact of the worst-in-decades wildfires, the sharp… Read more »

XE Market Analysis: Asia – Feb 25, 2020

The Dollar retreated again on Tuesday, largely driven lower by Fed rate cut expectations, with 25 basis points now fully priced into the Fed fund futures market. Incoming data weighed some on the greenback as well, as consumer confidence and the Richmond Fed index both missed expectations. Heightened fears of the spreading coronavirus tanked Wall… Read more »

XE Market Analysis: North America – Feb 25, 2020

The yen has picked up bids as stock markets in Europe sink and S&P 500 futures pared gains. A hiatus in risk aversion was seen for much of the Asian session before waning as markets in Europe struggled to shake off concerns about the economic impact the COVID-19 virus will have in Europe. USD-JPY ebbed… Read more »

XE Market Analysis: Europe – Feb 25, 2020

Markets have have found a more even keel amid a hiatus from the virus panic. Some market commentaries point to a Wall Street Journal report on progress in developing a vaccine to COVID-19 virus. There is also remains reasons for optimism. For one, comparisons with regular flu provides perspective: Total deaths from COVID-19 stand at… Read more »

XE Market Analysis: Asia – Feb 24, 2020

The Dollar was broadly lower in N.Y. on Monday, with losses coming despite the sharp risk-off backdrop due to the spike in non-China coronavirus cases. Profit taking was a feature after thee DXY was unable to test the 100.0 mark seen last week, and as EUR-USD failed to trade below the trend lows seen last… Read more »

XE Market Analysis: North America – Feb 24, 2020

The dollar, yen and Swiss franc have outperformed amid a backdrop of tumbling stock markets, with risk aversion picking up on news of a continued rise in coronavirus infections outside China, particularly in South Korea, the Mideast and in Italy. Many countries in the Mideast have imposed travel restrictions, while the rise in infections in… Read more »

XE Market Analysis: Europe – Feb 24, 2020

The dollar, yen and Swiss franc have outperformed amid a backdrop of tumbling stock markets in Asia, with risk aversion picking up on news of a continued rise in coronavirus infections outside China, particularly in South Korea, the Mideast and in Italy. Many countries in the Mideast have imposed travel restrictions, while the rise in… Read more »

XE Market Analysis: Asia – Feb 21, 2020

The USD took a hit in N.Y. trade on Friday, with the Dollar index falling to a four-session low after much weaker manufacturing and services PMIs. The DXY fell to 99.24, after opening at 99.75. The data knocked stock indices lower, sending cash scrambling into Treasuries, where yields were pressured. EUR-USD traded to highs over… Read more »

XE Market Analysis: North America – Feb 21, 2020

The yen picked up safe have demand after tumbling sharply over the previous two days. Most stock markets rotated lower in Asia, and European bourses followed suit. New COVID-19 virus cases were reported in China, South Korea and elsewhere, which kept up the pressure on regional Asian currencies, while Japan’s flash PMI survey for February… Read more »

XE Market Analysis: Europe – Feb 21, 2020

The yen picked up safe have demand after tumbling sharply over the previous two days. Most stock markets rotated lower in Asia after Wall Street closed in the negative. New COVID-19 virus cases were reported in China, South Korea and elsewhere, which kept up the pressure on regional Asian currencies, while Japan’s flash PMI survey… Read more »

XE Market Analysis: Asia – Feb 20, 2020

The DXY topped at 99.91 into the N.Y. open on Thursday, levels last seen in April of 2017. The Dollar pulled back some through the morning session, though later headed back to near trend highs. Incoming U.S. data, including a better Philly Fed index, and in-line jobless claims had little FX market impact. Risk-off conditions… Read more »

XE Market Analysis: North America – Feb 20, 2020

The yen has continued to underperform, and is showing a 2% decline against the dollar from yesterday’s opening levels. USD-JPY printed a 10-month high at 112.19, and EUR-JPY posted a two-week high, at 121.09. There have been reports over the last day of major fund managers cutting yen longs against short regional Asian currency hedge… Read more »

XE Market Analysis: Europe – Feb 20, 2020

The yen has continued to underperform, and is showing a 1.7% decline against the dollar from yesterday’s opening levels. USD-JPY printed a 10-month high at 111.88, and EUR-JPY posted a two-week high, at 120.63. There were reports yesterday of major fund managers cutting yen longs against short regional Asian currency hedge positions, along with Japanese… Read more »

XE Market Analysis: Asia – Feb 19, 2020

The DXY topped at 99.71 in N.Y. on Thursday, making a 33-month high in the process. Warmer PPI, and a better than expected housing starts print provided the necessary Dollar support. EUR-USD printed fresh trend lows of 1.0782, down from near 1.0805 at the open. USD-JPY rallied sharply as risk-on conditions prevailed, peaking at nine-month… Read more »

XE Market Analysis: North America – Feb 19, 2020

The yen has taken a tumble with global markets once again finding optimism from news of a slight decline in coronavirus cases in China, along with the stimulus measures being enacted. USD-JPY rallied by over 0.5% in making a nine-month peak at 110.43. EUR-JPY also turned higher, breaking above its Tuesday high, while AUD-JPY rallied… Read more »

XE Market Analysis: Europe – Feb 19, 2020

The yen has ebbed back after rising yesterday, with global markets once again finding optimism from news of a slight decline in coronavirus cases in China, although official data is being viewed with a good degree of scepticism by most. Asian stock markets lifted, and U.S. index futures is showing modest gains. USD-JPY lifted and… Read more »

XE Market Analysis: Asia – Feb 18, 2020

The Dollar rallied in N.Y. on Tuesday, taking the DXY to four-plus month highs of 99.47. The index was driven higher by EUR-USD’s drop to new 34-month lows of 1.0786. A much better than expected Empire State index supported the Greenback early in the session, while renewed coronavirus concerns likely resulted in fresh demand for… Read more »