Category: Commodities & Markets News

Commodities and financial market news from external sources.

XE Market Analysis: North America – Oct 16, 2019

The pound corrected some of its recent gains, and the Australian and New Zealand dollars came under some pressure amid a restive and risk-wary sentiment in global stock markets, while EUR-USD and USD-JPY, and most other pairings, held in narrow ranges. Sterling was off lows but still showing a decline of 0.3% against the dollar,… Read more »

XE Market Analysis: Europe – Oct 16, 2019

The dollar majors have been trading narrowly so far today. The pound has been consolidating after rallying yesterday as markets were tantalized by the prospect of a Brexit deal, which had until last week looked like a remote possibility. Cable posted five-month peak at 1.2800 just after the London fixing, subsequently correcting to the lower… Read more »

XE Market Analysis: Asia – Oct 15, 2019

The Dollar was mostly lower in N.Y. on Tuesday, led by gains in both Sterling and the Euro, which came following reports that an EU/U.K. Brexit deal may be close. Cable vaulted to near five-month highs just under 1.2800, while EUR-USD topped at 1.1045. USD-JPY rallied on another risk-on session, with trade talk hopes weighing… Read more »

XE Market Analysis: Brexit X-Factor Helps Sterling Hit a 5-Month Peak

OVERVIEW There is breaking news of a draft Brexit deal pushed the GBP up to 1.2750 Reports from the US and China are conflicting as far as how close the world’s two largest economies are on a trade deal.  HIGHLIGHT The GBP is up 0.5% on the day with Brexit X-factor dictating market sentiment. WTI… Read more »

XE Market Analysis: North America – Oct 15, 2019

The dollar has traded mixed so far today, while a rise the pound has been the biggest mover out of the main currencies. The pound pared gains, having remained below the respective highs seen last Friday against the dollar and yen. The UK currency did managed to eke out a fresh five-month peak in the… Read more »

XE Market Analysis: Europe – Oct 15, 2019

Both the pound and the euro are up against most other currencies on an increased perception that there will be another Brexit delay, which would take the deadline out to January 31 or later. There is also increasing signs that Prime Minister Johnson has a stab at winning sufficient parliamentary support on his plan should… Read more »

XE Market Analysis: North America – Oct 14, 2019

The biggest mover so far today has been the GBP-JPY cross, which has dropped by nearly 1%, reflecting about two parts sterling underperformance amid reports of a lack of progress in Brexit negotiations over the weekend, and about one part yen outperformance, which rebounded as the optimism over the yet-to-be-signed-off U.S.-China trade deal faded. The… Read more »

XE Market Analysis: Europe – Oct 14, 2019

Currencies have opened the week in undramatic fashion, with the major dollar pairings and cross rates plying range ranges so far. Sterling has drifted lower, correcting some little after seeing the biggest two-day rally in 25 years at the tail end of last week. Opposition parties have poured cold water on the government’s Brexit plan,… Read more »

XE Market Analysis: Asia – Oct 11, 2019

With the exception of USD-JPY, the Dollar was lower in N.Y. trade on Friday. Save-haven flows seen into the USD over the past week or so have been unwound to a degree on positive trade news, while strength in the pound and Euro have stepped up on hopes for a Brexit resolution. GBP-USD rallied to… Read more »

XE Market Analysis: Europe – Oct 11, 2019

Risk-on positioning has continued to be expressed in currencies, which has seen the yen edge out fresh lows and the dollar bloc and most developing-world currencies rise (even the Turkish lira has come off the lows over the last day). Markets are hopeful that the U.S. and China will reach a partial trade agreement. Trump… Read more »

XE Market Analysis: Asia – Oct 10, 2019

After fading overnight, the Dollar slipped further in N.Y.. trade on Thursday. Cooler U.S. CPI didn’t help the Greenback, while hopes for a U.S./China trade deal in one form or another pressured the USD, as recent safe-haven flows were reversed. Wall Street and yields moved higher after it was announced that Trump would meet China… Read more »

XE Market Analysis: North America – Oct 10, 2019

The dollar bloc and the euro have been outperforming the dollar and yen, along with most other currencies. This came against a return to a sputtering price action in stock markets in Europe after gains in Asia and on Wall Street yesterday. The euro was showing respective gains of over 0.5% against the dollar and… Read more »

XE Market Analysis: Europe – Oct 10, 2019

The dollar bloc currencies have lifted amid a cautious risk-on vibe in Asia, led by a rally on Chinese stock markets. AUD-JPY was showing a gain of about 0.5% as it printed a nine-day high at 72.81, while AUD-USD rallied to around the 0.6750 mark from the low 0.67s. USD-CAD retreated to the lower 1.3300s… Read more »

XE Market Analysis: Asia – Oct 09, 2019

The Dollar turned lower ahead of the N.Y. open on Wednesday, with losses coming on the reversal of safe-haven flows seen on Tuesday, reversed following reports that China would consider a partial trade deal with the U.S. Later, the USD posted a partial recovery, seeing the DXY move from 98.90 lows to 99.15 highs after… Read more »

XE Market Analysis: Europe – Oct 09, 2019

The dollar took a turn lower concomitantly with news, via Bloomberg sources, that China is open to agree a partial trade deal despite the U.S. blacklisting of Chinese organisations. This saw some unwinding in risk-on position as stock markets in Europe rallied. S&P 500 futures were showing a 0.8% gain heading into the New York… Read more »

XE Market Analysis: Asia – Oct 08, 2019

The Dollar index rallied to one-week highs in N.Y. on Tuesday, topping at 99.21, and up from 98.86 lows seen immediately following the much cooler than expected U.S. PPI outcome. Safe-haven flows into the USD stepped up following the U.S. blacklisting several Chinese tech companies, blamed for facilitating human rights abuses in China’s Xinjiang region…. Read more »

XE Market Analysis: North America – Oct 08, 2019

The dollar has been trading mixed, losing ground to the yen and euro while gaining versus an underperforming pound and the dollar block currencies, which drafted lower as risk appetite dropped away during the European morning session. The yen’s habit of inversely tracking stock markets has been on full display today, falling as stocks rose… Read more »

XE Market Analysis: Europe – Oct 08, 2019

The yen has softened concomitantly with a rise in equity markets in Asia amid cautious risk-on positioning. Chinese markets reopened after a week-long hiatus, and its CSI 300 equity index was showing a 0.9% gain as of the time of writing, while Japan’s N-225 closed with just over a 1% gain and Australia’s ASX 200… Read more »

XE Market Analysis: Asia – Oct 07, 2019

FX trade was quiet in N.Y. on Monday, with major Dollar pairings sticking to narrow ranges. There was no data to move the markets, though comments from White House adviser Kudlow helped USD sentiment when he said the U.S. is open to a short term trade deal with China. USD-JPY moved to session highs toward… Read more »

XE Market Analysis: North America – Oct 07, 2019

The dollar has been trading on a steady-to-firmer footing, seeing modest gains versus the euro and more pronounced 0.5% advance against the Australian and New Zealand dollars. The yen outperformed, albeit moderately so, which weighed on USD-JPY a little, while AUD-JPY saw losses of over 0..6%. Stock markets in Asia and Europe went back into… Read more »

XE Market Analysis: Europe – Oct 07, 2019

AUD-JPY declined as a risk appetite waned, with the good vibes of Friday failing to transfer to Asian markets today, where stock markets continued a sputtering price action (note, Chinese markets are still closed, will reopen tomorrow). A Bloomberg report cited Chinese officials saying that they are increasingly reluctant to agree to a broad trade… Read more »

XE Market Analysis: Asia – Oct 04, 2019

The Dollar had a rough week, as softer U.S. data weighed broadly. Friday’s jobs report was better than some had expected, though following a brief bounce, the DXY slipped back toward lows of the week. The market has about 100% priced in an October rate cut, which should continue to see the USD struggle going… Read more »

XE Market Analysis: North America – Oct 04, 2019

The dollar majors have hunkered down in narrow ranges ahead of the release of the September U.S. non-farm payrolls report, which is being looked upon as having potential to mark an inflection point in the course of world’s biggest economy following a slew of recessionary-portending data releases. EUR-USD has ebbed back to the mid-to-upper 1.0900s,… Read more »

XE Market Analysis: Europe – Oct 04, 2019

The dollar has settled above yesterday’s lows as markets anticipate today’s release of the September non-farm payrolls report out of the U.S., which follows a run of recessionary-portending data this week. EUR-USD has ebbed back to the mid-to-upper 1.0900s, below yesterday’s 10-day peak at 1.0999, and USD-JPY has settled around 106.75-85, above the one-month low… Read more »

XE Market Analysis: Asia – Oct 03, 2019

The Dollar nose-dived to seven-session lows in N.Y. trade on Thursday, the move coming in the aftermath of a big miss in the services ISM. The DXY fell from 99.06 highs at the open, to 98.65 lows, before recovering slightly. The weaker data ramped up recession fears and prospects for another Fed rate cut in… Read more »

XE Market Analysis: Sterling Surges as the “Backstop” Makes an Exit

OVERVIEW British Parliamentarians, citizens and expats all eagerly await the response from the EU on PM Johnson’s revised separation proposal Consumers steel themselves to learn what EU products will have US tariffs applied to them US consumer confidence slips HIGHLIGHT Source: XE news feed XE Market Analysis: Sterling Surges as the “Backstop” Makes an… Read more »

XE Market Analysis: North America – Oct 03, 2019

The dollar found a footing, paring losses after seeing fresh lows against the euro and yen. The Swiss franc underperformed notably, and was showing losses of around 0.5% at its lows against the dollar, euro and yen. Suspicions of SNB intervention abounded. EUR-CHF printed a three-week high at 1.0974, extending a rebound from the 27-month… Read more »

XE Market Analysis: Europe – Oct 03, 2019

The dollar has steadied after descending against most of the other main currencies amid a deepening sense that the U.S. economy is in the grip of significant slowdown, if not heading to a recession. There was still some price dynamics to note, with USD-CAD, one of the few pairings where the U.S. currency gained, eking… Read more »

XE Market Analysis: Asia – Oct 02, 2019

The Dollar pulled back in N.Y. on Wednesday, taking the DXY to 98.96 lows from 99.41 into the U.S. open. Recession fears following weak manufacturing ISM on Tuesday and not exactly stellar ADP jobs report saw stocks, Treasury yields, and the USD all take a trip lower. EUR-USD managed one-week highs of 1.0964, as USD-JPY… Read more »

XE Market Analysis: Fear of Global Economic Meltdown Turns Investors Cautious

OVERVIEW US Dollar regains stability after taking an overnight dip PM Johnson unveils a final Brexit separation proposal ahead of the October 31st cliff date. The Canadian dollar remains stable as GDP remains steady HIGHLIGHT Source: XE news feed XE Market Analysis: Fear of Global Economic Meltdown Turns Investors Cautious

XE Market Analysis: North America – Oct 02, 2019

A dollar has been trading mixed against a backdrop of global stock market declines. USD-JPY printed a six-day low at 107.55, extending the correction after the pair yesterday matched the two-month high seen in mid September at 108.47. EUR-USD, meanwhile, held steady after yesterday lifting out of the 28-month low at 1.0879 following the big… Read more »

XE Market Analysis: Europe – Oct 02, 2019

Sterling has come under moderate pressure into the London interbank opening, though has remained above yesterday’s lows. Brexit is finally coming to a head, with Prime Minister Johnson set to send Brussels his government’s final proposals. He has already stated that if the EU does not agree to discuss them that he will refuse to… Read more »

XE Market Analysis: Asia – Oct 01, 2019

The Dollar was higher in early N.Y. trade on Tuesday, leaving the DXY at a better than two-year peak of 99.67. Gains were not to last however, as a 10-year low U.S. manufacturing ISM took the wind out of the buck’s sails in a hurry. The ISM fell to 10-year lows of 47.8, causing a… Read more »

XE Market Analysis: The Mighty Greenback Sends Major Peers Tumbling

OVERVIEW US Institute for Supply Management results came in significantly lower than expected. British Chancellor Sajid Javid vowed to raise the minimum “Living Wage” to ten pounds fifty.  Canadian goods manufacturing was down, and Real GDP was flat after four consecutive months of growth.    HIGHLIGHT Source: XE news feed XE Market Analysis: The Mighty Greenback… Read more »

XE Market Analysis: North America – Oct 01, 2019

The dollar pared gains after posting fresh highs against the euro, yen, Australian and New Zealand dollars, among other currencies. EUR-USD lifted out of a 28-month low at 1.0879, recouping to levels above 1.0900. EUR-CHF gained sharply, by nearly 0.5%, and most other euro crosses also rose, despite expectedly benign Eurozone inflation headlines in preliminary… Read more »

XE Market Analysis: Europe – Oct 01, 2019

The Australian has taken a tumbled on RBA guidance, with the central bank’s governor, Lowe, repeating in his post-policy meeting statement that low interest rates will be required for an extended period of time. This followed a decision to leave the cash rate unchanged at its record low 0.75%. AUD-USD dropped over 1% in making… Read more »

XE Market Analysis: Asia – Sep 30, 2019

The Dollar was firmer in N.Y. on Monday, taking the DXY to 28-month highs of 99.45 early in the session. Much of the Dollar index’s move came with EUR-USD weakness, which saw that pairing fall to trend lows of 1.0885 on the back of cool German CPI. Later, softer U.S. Chicago PMI and Dallas Fed… Read more »

XE Market Analysis: The Markets Are Calm Before Leaping Into a Monstrous October

OVERVIEW You guessed it, Brexit uncertainty continues, and it is darkening investor sentiment related to both the pound and business securities. US-China trade relations continue to be as icy as recent pre-winter snowstorms in Alberta and Montana. The euro is running to stand still as sombre economic predictions are weighing on the shared currency.  HIGHLIGHT … Read more »

XE Market Analysis: North America – Sep 30, 2019

The dollar majors have mostly held comfortably within their respective ranges so far today. EUR-USD dipped to the 1.0919, which is about 20 pips down on Friday’s closing levels though lacking the impetus for a move on the 28-month at 1.0904. USD-JPY dipped to a low of 107.75 before recouping to near net unchanged levels… Read more »

XE Market Analysis: Europe – Sep 30, 2019

A moderate risk-off theme has coursed through the main currencies, which has seen AUD-JPY shed about 0.3% and the Yen post modest gains versus other currencies. USD-JPY dipped to a low of 107.75 after closing in New York on Friday near 107.95, though the dollar held firmer against most other currencies. EUR-USD dipped to the… Read more »

XE Market Analysis: Asia – Sep 27, 2019

The Dollar eased some overall in N.Y. trade on Friday, taking the DXY from near one-month overnight highs of 99.31 to U.S. lows of 98.99. FX trade was choppy through the morning, though the USD was little impacted by incoming U.S. data, which overall, was decent. The White House shook up markets when it was… Read more »

XE Market Analysis: North America – Sep 27, 2019

The dollar was showing a mixed performance on the day heading into the New York interbank open, having printed a fresh 28-high against the euro following another round of sub-forecast Eurozone data, an 18-day low against the pound at the prompt of dovish BoE-speak, a nine-day high against the yen, which underperformed as stock markets… Read more »

XE Market Analysis: Europe – Sep 27, 2019

The euro has carved out fresh lows in an otherwise narrow ranging day among the main currencies so far, with dollar majors making it to the London interbank open showing no more than 0.2% net changes. EUR-USD edged out a fresh 28-month low at 1.0904 and EUR-JPY a three-week low at 117.44, before quickly recouping… Read more »

XE Market Analysis: Asia – Sep 26, 2019

The Dollar came under some broad pressure early in the session, following the release of the whistle blower report and ahead of the testimony of acting DNI Maguire at the House Intelligence Committee. The risk-sensitive USD-JPY slid to session lows of 107.43 from 107.70 into the 8:30 EDT round of data, while EUR-USD rallied to… Read more »

XE Market Analysis: North America – Sep 26, 2019

The dollar printed fresh highs against the euro and sterling, though remained below yesterday’s highs against the yen and Canadian and Australian dollars, among other currencies. EUR-USD printed a 28-month low at 1.0922, reaffirming a the long-germ bear trend the pairing has been in since early 2018. Unexpected news that ECB board member Lautenschlaege is… Read more »

XE Market Analysis: Europe – Sep 26, 2019

The dollar has given some of the gains seen yesterday, tracking the U.S. 10-year Treasury yield, which has deflated by a few basis points after rising notably yesterday. The narrow trade-weighted USD index (DXY) has ebbed back to around 98.95, off from yesterday’s two-week peak at 99.05. EUR-USD concurrently lifted to around 1.0960-64 from its… Read more »

XE Market Analysis: Asia – Sep 25, 2019

The Dollar perked up in N.Y. trade on Wednesday, helped by better U.S. housing data, and the apparent lack of a smoking gun in Trump’s Ukraine transcripts. The DXY topped at two-week highs of 99.06, coming from early lows of 98.71. Wall Street rallied as well following Trump comments that a trade deal with China… Read more »

XE Market Analysis: North America – Sep 25, 2019

The dollar has traded higher since the New York interbank close yesterday, recouping losses seen in the immediate wake of the impeachment news in the U.S. yesterday. EUR-USD has settled back near 1.1000 after failing to sustain gains to 1.1024, which was seen in the immediate wake of the news that the Democrats initiated an… Read more »

XE Market Analysis: Europe – Sep 25, 2019

The dollar recouped losses seen yesterday in the immediate wake of news that the Democrats were commencing a formal impeachment inquiry against President Trump. The news, coupled with disappointing September consumer confidence data out of the U.S. and the harshly criticism of Trump on China’s trade practices at the UN, saw S&P 500 futures close… Read more »

XE Market Analysis: Asia – Sep 24, 2019

The Dollar headed lower in N.Y. on Tuesday, with losses coming on reports that the House Democrats are moving forward with impeachment proceedings against president Trump, based on reports that the president may have pressured the Ukraine president to investigate former vice president Joe Biden and his family’s business dealings. Earlier in the session, softer… Read more »

XE Market Analysis: Sterling Finds Joy After PM Johnson Tastes Defeat In Supreme Court

OVERVIEW PM Boris Johnson and President Donald Trump are both facing unprecedented tests to their leadership.  Spot gold steadies below 2-week high Crude oil slides lower due to fear of slowing global demand    HIGHLIGHT The British Pound is trading firmer, jumping 60 pips after the UK Supreme Court ruled the prorogation as “unlawful”. WTI… Read more »

XE Market Analysis: North America – Sep 24, 2019

The dollar has traded mixed, losing ground to the pound, which rallied into (not after) the UK’s Supreme Court’s decision to rule that the Boris Johnson’s government’s suspension of Parliament was unlawful, and the Australian dollar, which found demand via the AUD-JPY cross as equity markets in Europe rallied. In contrast, the dollar lifted against… Read more »

XE Market Analysis: Europe – Sep 24, 2019

Narrow ranges have been prevailing among the main currencies so far today. EUR-USD has been maintaining less than a 15 pip range just under 1.1000 and above yesterday’s 12-day low at 1.0966. Cable has been in a similarly narrow range under 1.2450. The UK’s Supreme Court will rule on the government’s appeal of the illegal… Read more »

XE Market Analysis: Asia – Sep 23, 2019

The Dollar steadied in N.Y. on Monday, after putting in a mixed performance overnight. Trade was generally light however. EUR-USD fell to 1.0966 lows in London morning trade after weak EU PMI data, resulting in European equities tumbling. The risk-off conditions weighed down USD-JPY, which fell to two-week lows of 107.31. In N.Y., the two… Read more »

XE Market Analysis: North America – Sep 23, 2019

The Dollar saw a two-week low against the Yen, but otherwise held steady-to-firmer, gaining most notably against the Euro and the Pound, the former underperforming following sub-forecast Eurozone PMI data and the latter taking a rotation lower after UK Prime Minister Johnson downplayed near-term prospects for a breakthrough in his negotiations with EU leaders on… Read more »

XE Market Analysis: Europe – Sep 23, 2019

The Pound has come under modest pressure at the open of the London interbank market, with markets reacting to UK Prime Minister Johnson remarks on Brexit, that he did not wish “to elevate excessively the belief that there will be a New York breakthrough,” referring to the meetings he has scheduled this week with various… Read more »

XE Market Analysis: Asia – Sep 20, 2019

FX trade was relatively quiet on Friday, with no data to drive prices, and a fairly neutral risk backdrop. This said, the Dollar managed modest gains through the session, taking the DXY from opening lows of 98.43 to a 98.63 high. Wall Street was narrowly mixed, while Treasury yields edged a bit lower. EUR-USD dipped… Read more »

XE Market Analysis: North America – Sep 20, 2019

The Dollar majors have seen some chop but, for the most part, little net directional changes. EUR-USD has settled to an orbit of the 1.1050 level, earlier printing an intraday high at 1.1067 before gravitating back below 1.1050. The pair has remained comfortably within its range from yesterday. USD-JPY recouped to the 108.00 level after… Read more »

XE Market Analysis: Asia – Sep 19, 2019

The Dollar headed higher in N.Y. morning trade on Thursday, guided by decent incoming U.S. data. The DXY bottomed at 98.25 at the open, making its way to 98.42 after the London close. From there it was downhill, as GBP-USD and EUR-USD rallied following a report that EU commission president Junker said he thought a… Read more »

XE Market Analysis: Doves, Bears, and Bulls: The FOMC Keeps the Market Guessing

OVERVIEW FOMC executives were divided in this week’s meetings as to whether further interest rate cuts this year are justified. They did manage to pass a quarter-point reduction, however. Hong Kong’s central bank followed the Fed’s lead with a quarter-point interest rate reduction. Japan and Switzerland’s central banks are holding their interest rates.  HIGHLIGHT … Read more »

XE Market Analysis: Europe – Sep 19, 2019

The Dollar has traded mixed so far today, after rallying in the wake of the Fed’s policy announcement. The Fed did the expected and cut the funds rate band by a quarter point to 1.75%, yet the decision came at the expense of a cohesiveness among policymakers, with the vote being 7-3 (the three dissenters… Read more »

XE Market Analysis: Asia – Sep 18, 2019

The FX market was quiet ahead of the FOMC announcement in N.Y. on Wednesday, with major pairings stuck inside of narrow trading bands. Incoming U.S. data was light, with housing starts much firmer than expected. There was little market reaction, however. The dollar rallied modestly following the FOMC announcement, where rates were cut by 25… Read more »

XE Market Analysis: The Fed Commands the Spotlight, Trump Expects Bigly Rate Cut

OVERVIEW The FOMC is expected to introduce an interest rate cut in today’s monetary policy decision. PM Johnson insists the UK will leave the EU on October 31st, though equally strong statements from opposition suggest it won’t happen without a deal. The Aussie and Kiwi dollars are both sinking slowly HIGHLIGHT Source: XE news… Read more »

XE Market Analysis: Europe – Sep 18, 2019

The Dollar majors have been holding narrow ranges so far today, with AUD-USD and NZD-USD relative outliers in showing respective declines of 0.2% and 0.3% heading into the London interbank open. USD-JPY has maintained a narrow range in the lower 108.0s and EUR-USD around the 1.1065-70 mark, consolidating after rebounding yesterday from Monday’s bout of… Read more »

XE Market Analysis: Asia – Sep 17, 2019

Overall, the Dollar reversed course lower in N.Y. trade on Tuesday, with the DXY unwinding the gains seen to start the week. The Dollar index pulled back to 98.23, coming from four-session highs of 98.74 seen overnight. Position squaring ahead of Wednesday’s FOMC announcement, where a 25 basis point rate hike is widely expected, was… Read more »

XE Market Analysis: The Currency Market Steadies After Yesterday's Wild Start

OVERVIEW PM Boris Johnson’s efforts in Luxembourg to amend the Brexit divorce deal are unsuccessful. UK courts consider whether the prorogation of parliament was legal, or simply an effort by Johnson to eliminate debating Brexit with MPs The Euro is under the influence of a survey which shows a weakening German economy, even as economic… Read more »

XE Market Analysis: North America – Sep 17, 2019

The Dollar has traded mostly firmer, gaining around 0.5% versus the day’s underperformer, the Australian Dollar, and showing modest gains versus the Yen, Canadian Dollar and Sterling, among other currencies, while holding steady versus the Euro. The U.S. currency has been attracting a degree of safe haven demand amid a sputtering price action in global… Read more »

XE Market Analysis: Europe – Sep 17, 2019

The Australian Dollar ebbed to an 11-day low versus the U.S. Dollar, at 0.6833. Several factors weighed on the antipodean currency. First, the RBA minutes from the September policy meeting showed that the central bank remains disposed to further easing, and second, Australian consumer sentiment fell to a two-year low. At the same time, China’s… Read more »

WA harvest estimates drop below average

Continuing warm dry conditions in the northern half of WA’s cropping zone and recent frost events in the southern half make it unlikely WA winter crop production will exceed 12.5 million tonnes this year. Source: Grain Central WA harvest estimates drop below average

XE Market Analysis: Asia – Sep 16, 2019

The Dollar headed higher in N.Y. trade on Monday, with safe-haven flows driving gains. The attack on Saudi oil infrastructure over the weekend saw gold and Treasuries head higher (along with oil prices), while equity markets were broadly lower. Incoming U.S. data was light, and a weaker Empire State index had little impact on the… Read more »

Two weeks of extreme weather could wipe $750m off WA grain harvest

Brutal heat and bitter cold have cost farmers in WA more than 1.5m tonnes in crops over the course of a fortnight, according to a grain industry report. Source: ABC Grain Two weeks of extreme weather could wipe 0m off WA grain harvest

XE Market Analysis: Europe – Sep 16, 2019

A stab of risk-off positioning drove the Yen higher in early trade, although follow-through has been limited. News that a drone attack on Saudi oil facilities have shut down 5% of global supply impacted at the open of trading. Source: XE news feed XE Market Analysis: Europe – Sep 16, 2019

XE Market Analysis: The GBP Doesn't Suffer from Paraskevidekatriaphobia

OVERVIEW Despite the drama from the dweller of 10 Downing Street, the pound hit a 2-month high against the US Dollar.  Currency market watchers are treading cautiously ahead of next week’s FOMC meeting The market was looking for a more generous stimulus package for the EU than the ECB delivered.  HIGHLIGHT Source: XE news… Read more »

XE Market Analysis: North America – Sep 13, 2019

A 1%-plus rally in the Pound has been the main dynamic among the main currencies, which spirited Cable to a seven-week peak at 1.2476, extending the rebound from last week’s major-trend low at 1.1958. There was no particular catalyst. While EU Trade Commissioner Hogan said that events in the UK’s Parliament have improved the odds… Read more »

XE Market Analysis: Europe – Sep 13, 2019

The yen posted fresh trend lows against the dollar, though remained just off the lows it saw against the euro, Australian dollar and other currencies yesterday. USD-JPY printed a six-week high at 108.26 in what is now the fourth consecutive day of higher-high making. The Japanese currency has been deflating maid a persisting phase of… Read more »

XE Market Analysis: Asia – Sep 12, 2019

The dollar rallied early in N.Y. on Thursday on the back of a warmer core U.S. CPI outcome, and on an ECB announcement which included a 10 basis point rate cut, and an open-ended reinstatement of QE. This saw EUR-USD fall to within a hair of the two-plus year lows of 1.0926 seen in early… Read more »

XE Market Analysis: The ECB Rolled a Six-Sided Die Hoping for a Seven

OVERVIEW Inflation is in the spotlight today in the US and Europe after data releases from the US Fed and ECB Operation Yellowhammer documents paint a bleak picture of no-deal Brexit scenarios WTI crude prices down on overly abundant supply HIGHLIGHT Source: XE news feed XE Market Analysis: The ECB Rolled a Six-Sided Die… Read more »

XE Market Analysis: North America – Sep 12, 2019

The Dollar has taken a turn lower, losing ground to commodity currencies amid an enduring risk-on phase in global markets, and with the Euro seeing a pre-ECB upward shift during the London morning session. USD-JPY also corrected after posting a fresh six-week high during the Tokyo session. EUR-USD recouped back above 1.1000 after yesterday printing… Read more »

XE Market Analysis: Europe – Sep 12, 2019

USD-JPY printed a fresh six-week high at 108.16 ahead of the London interbank open, since settling back near the 118.0 mark. The price action is similar to yesterday’s, with AUD-JPY and GBP-JPY having concurrently posted new six-week peaks, though EUR-JPY has so far failed to surpass the one-month high the cross saw yesterday. The yen’s… Read more »

XE Market Analysis: Asia – Sep 11, 2019

The Dollar firmed up some in N.Y. trade on Wednesday, seeing the DXY rally from overnight lows of 98.33, topping at 98.74 at mid-morning. A slightly warmer U.S. PPI core outcome provided some support, though position squaring was behind EUR-USD slippage, ahead of Thursday’s ECB meeting. We expect a 10 basis point rate cut from… Read more »

XE Market Analysis: The Canadian Dollar, The Currency Market’s Only Star Performer

OVERVIEW The plot thickens in the British parliament as there is a strong argument that suspension of proceedings is in fact illegal. The Supreme Court will rule next week. Despite significant tensions in many parts of the world, Central Bank meetings are strangely breezy. The Canadian dollar – a star in the currency galaxy.  HIGHLIGHT … Read more »

XE Market Analysis: North America – Sep 11, 2019

EUR-USD took a rotation lower, to the 1.1020 area from levels above 1.1050, which was driven by broad, albeit moderate, declines in the common currency. The low for the week, seen on Monday at 1.1015, had been left untroubled as of the early London afternoon session. Market narratives pointed to possible position adjusting into tomorrow’s… Read more »

XE Market Analysis: Europe – Sep 11, 2019

The Dollar has remained mostly in narrow ranges so far today against the other main currencies, with the exception being the Yen, which has continued to see its safe haven premium deflate. USD-JPY printed a fresh six-week peak, at 107.84, in what is now a third consecutive day of ascent, which in turn amid a… Read more »

Ag prognosis improves slightly, volatility remains: NAB

Agribusiness conditions across the country improved slightly in August 2019, on the back of a solid, late break in southern Australia, according to the NAB’s third Agribusiness Banker Survey. Source: Grain Central Ag prognosis improves slightly, volatility remains: NAB

XE Market Analysis: Asia – Sep 10, 2019

The Dollar headed slightly lower in quiet N.Y. trade on Tuesday, later recovering to near unchanged on the day. There were few driving factors, with no significant data releases on the calendar. The uptick in the USD later in the session was largely driven by higher Treasury yields, which headed up as the 3-year note… Read more »

XE Market Analysis:British MPs Protest Suspension of Parliament Until October 14th

OVERVIEW British MPs loudly voiced their objection to the suspension of parliament until October 14th with chants of “No”, songs and signs of protest. US Dollar Index remains flat in these dog days of summer Canadian housing data beat forecasts as the economy shows resilience   HIGHLIGHT Source: XE news feed XE Market Analysis:British… Read more »

XE Market Analysis: North America – Sep 10, 2019

Safe haven currencies saw fresh lows against the Dollar, and a range of other currencies, during the pre-London part of the Asian session today before settling amid a generally directionally constrained session in the London morning session in forex markets. Both USD-JPY and AUD-JPY printed fresh six-week highs after U.S. Treasury Secretary Mnuchin said “lots… Read more »

XE Market Analysis: Europe – Sep 10, 2019

The Yen has remained under pressure, which has seen both USD-JPY and AUD-JPY print fresh six-week highs. U.S. Treasury Secretary Steven Mnuchin signalled “lots of progress on talks” recently with regard to trade negotiations with Beijing. We’ve heard such upbeat rhetoric many times in the many previous rounds of the so-far fruitless trade discussions, though… Read more »

XE Market Analysis: Asia – Sep 09, 2019

The Dollar was slightly lower through the U.S. session on Monday, seeing the DXY dip from opening highs of 98.34, to a low of 98.14. There was no incoming data to move the market. EUR-USD rallied from 1.1028 to 1.1068 highs, while USD-JPY fell from 107.18 to 106.93 before bouncing back to 107.15. USD-CAD fell… Read more »

XE Market Analysis: North America – Sep 09, 2019

The Pound and the Australian Dollar outperformed while the Yen and Swiss Franc underperformed, with the U.S. currency fluctuating in between. Sterling has rallied on unexpected UK data perkiness, along with today being the day that the bill that will stop a no-deal Brexit happening on October becomes law. Her Majesty’s currency has vaulted by… Read more »

XE Market Analysis: Europe – Sep 09, 2019

The Australian Dollar edged out fresh highs, posting six-week peak against both the U.S. Dollar and the Yen, amid a backdrop of rising stock markets in Asia. This came despite weak export data out of China, which followed Friday’s underwhelming U.S. jobs headline, with markets preferring to focus on the expectation for more stimulus rather… Read more »

XE Market Analysis: Asia – Sep 06, 2019

The Dollar ended the Friday N.Y. session about where it started, falling initially on a softer non-farm payroll outcome, though later moving higher as the better internal components of the jobs report offset to a degree. Earnings and participation rate were stronger than forecasts. EUR-USD rallied at 1.1020 to over 1.1055 after the data. USD-JPY… Read more »

XE Market Analysis: North American Non-Farm Job Growth Beats Estimates

OVERVIEW The US economy added about 130,000 jobs, shy of the forecast 163,000 The Canadian dollar climbed for the third consecutive session after 81,000 new Canadian jobs added to the workforce. Optimism springs eternal that a no-deal Brexit can be reached after another extension or election.  HIGHLIGHT Source: XE news feed XE Market Analysis:… Read more »

XE Market Analysis: North America – Sep 06, 2019

The Dollar majors have remained within respective Thursday ranges, though some yen and Swiss franc cross rates have clawed out fresh highs, with GBP-JPY and AUD-CHF, for instance both seeing new one-month highs. EUR-USD has settled below 1.1050 after yesterday printing an eight-day high at 1.1084, which extended the rebound from the 28-month low that… Read more »

XE Market Analysis: Europe – Sep 06, 2019

The Dollar majors have remained within respective Thursday ranges, though some Yen and Swiss Franc cross rates have clawed out fresh highs, with GBP-JPY and AUD-CHF, for instance both seeing new one-month highs. The backdrop remains one of a cautious risk-back-on sentiment, with investors finding tonic from the U.S. and China’s path to another round… Read more »