Category: Currency

XE Market Analysis: Asia – Jan 14, 2021

The Dollar attempted to rally early in the N.Y. session on Thursday, taking the DXY to two-session highs of 90.58, up from overnight lows of 90.24. From there, a round of profit taking set in, seeing the USD reverse lower against major currencies. There was little initial reaction to the much worse than expected jobless… Read more »

XE Market Analysis: Europe – Jan 14, 2021

Modest weakness in the euro and yen, along with a smidgen of firmness in the Canadian dollar, were pretty much the only directional themes among the main currencies in trading through to the early London interbank session. EUR-USD edged out a two-day low at 1.2136, which is 4 pips shy of the 24-day low that… Read more »

XE Market Analysis: Asia – Jan 13, 2021

FX trade was relatively quiet in N.Y. on Wednesday, keeping the DXY inside of a 90.20 to 90.45 trading band. Incoming data saw December CPI on the cooler side of expectations, though there was little market reaction. Wall Street struggled, though into the close, the major indices were all in modestly green territory. Treasury yields… Read more »

XE Market Analysis: North America – Jan 13, 2021

The dollar lifted out of lows, aided by gains against the euro after ECB’s Villeroy fired a rhetorical volley across the bows of euro bulls, reminding the forex market that he and his colleagues “are monitoring with particular attention the negative effects of the euro exchange rate.” Market participants, meanwhile, overlooked a much stronger than… Read more »

XE Market Analysis: Europe – Jan 13, 2021

The dollar has declined for a second day, further giving back the rebound gains that were seen in the wake of the Georgia runoff elections in the U.S., and despite tomorrow’s detailing by president-elect Biden of the Democrat party’s economic stimulus plan. The dollar softened following remarks by Fed hawks Mester and George, yesterday, who… Read more »

XE Market Analysis: Asia – Jan 12, 2021

The Dollar was range bound in N.Y. on Tuesday, though ultimately ended modestly lower overall. The DXY touched 90.54 highs early in the session, later easing under 90.30 in relatively quiet trade, after being unable to breach Monday’s three-week high of 90.72. There were no major data releases to move markets. Risk-taking levels were narrowly… Read more »

XE Market Analysis: North America – Jan 12, 2021

The dollar has taken a step back, correcting some of the gains that have been seen since it become clear that the Democrats in the U.S. were going to control the Senate, in addition to the Presidency and House. Some narratives attributed this in part to reportedly large demand for China’s yuan, linked to the… Read more »

XE Market Analysis: Europe – Jan 12, 2021

The dollar fell back, correcting some of the gains that have been seen since it become clear that the Democrats in the U.S. were going to control the Senate, in addition to the Presidency and House. Some narratives attributed this in part to reportedly large demand for China’s yuan, linked to the proximity of the… Read more »

Aussie dollar starts 2021 at three-year highs

Buoyed by general weakening in the US currency and continued strong energy and mineral commodity prices, the Australian dollar has started the year on a bullish note. After finishing 2020 at around US76.2c, the A$ has surged, hitting almost US78.2c last Wednesday, reaching a 33-month high. Source: Beef Central Aussie dollar starts 2021 at… Read more »

XE Market Analysis: Asia – Jan 11, 2021

The Dollar rallied to three-week highs in early N.Y. trade, taking the DXY to 90.72, up from overnight lows of 90.03. The Greenback later pared gains, as Wall Street posted losses, albeit from record closing highs on Friday. USD price action has shifted since the middle of last week, as higher interest rates, and prospects… Read more »

XE Market Analysis: North America – Jan 11, 2021

The dollar has put in more rebound distance from the major-trend lows seen against the euro, yen, dollar bloc, and many other currencies a week ago. The U.S. currency has rallied on each trading day since the Georgia runoff elections, when it became clear that the Democrats would control the Senate. This has seen Treasury… Read more »

XE Market Analysis: Europe – Jan 11, 2021

The dollar has continued to rise, putting in more distance from the major-trend lows seen against the euro, yen, dollar bloc, and many other currencies a week ago. The U.S. currency has rallied on each trading day since the Georgia runoff elections, when it became clear that the Democrats would control the Senate. This has… Read more »

XE Market Analysis: Asia – Jan 08, 2021

The Dollar continued to head higher in Friday afternoon trade, marking its third day of advances. The weaker jobs report took the USD to session lows, with nonfarm payrolls turning negative for the first time since April, though the jump in earnings offset to a degree, allowing the Greenback to recover. Later, the pullback on… Read more »

XE Market Analysis: North America – Jan 08, 2021

The dollar’s correlative pattern with stock markets has inverted, with the currency now rising in step with rallying global stock markets. The catalyst for the change was the Democrat wins in the Georgia runoff elections, which heralds the prospect of much greater deficit spending and warranting higher growth expectations for the U.S. economy. U.S. Treasury… Read more »

XE Market Analysis: Europe – Jan 08, 2021

The dollar’s correlative pattern with stock markets has inverted, with the currency now rising in step with rallying global stock markets. The catalyst for the change was the Democrat wins in the Georgia runoff elections, which heralds the prospect of much greater deficit spending and warranting higher growth expectations for the U.S. economy. U.S. Treasury… Read more »

XE Market Analysis: Asia – Jan 07, 2021

The Dollar rallied for the second day on Thursday, though the bulk of gains came ahead of the N.Y. open. Higher Treasury yields, and prospects for stronger U.S. growth in the coming months due to what will likely be ramped up spending by Democrats now that they are in charge, have driven the USD up… Read more »

XE Market Analysis: North America – Jan 07, 2021

The dollar has rebounded out of the major-trend lows that were seen yesterday. The DXY dollar index posted a three-day high at 89.95, up from yesterday’s 33-month low at 89.21, while EUR-USD dropped over 0.5% to the mid 1.2200s while USD-JPY rallied to a nine-day high at 103.71. Markets have been discounting the upcoming Biden… Read more »

XE Market Analysis: Europe – Jan 07, 2021

The dollar has found a footing after posting fresh losses yesterday, despite risk appetite holding up in Asian markets and into European trading. The DXY dollar index has inched above 89.50 after yesterday posting a 33-month low at 89.21. Markets are digesting the largely unexpected outcome in the two Georgia runnoff elections, which were won… Read more »

XE Market Analysis: Asia – Jan 06, 2021

The Dollar rallied in morning N.Y. trade on Wednesday, despite risk-on conditions. The prospect of further massive fiscal stimulus under a Democrat controlled government boosted Wall Street, and weighed heavily on Treasuries, taking yields sharply higher, and likely providing some support to the USD. Bigger picture, more stimulus and nascent inflation concerns will likely keep… Read more »

XE Market Analysis: North America – Jan 06, 2021

The dollar has tumbled to fresh major-trend lows as markets discount a possible Democrat sweep, with one of its Senate candidates, Warnock, having been declared winner in one of the two Georgia runoff elections, and the other, Ossoff, showing a slim lead in the vote count so far in the other election. Democrats need to… Read more »

XE Market Analysis: Europe – Jan 06, 2021

The dollar has tumbled to fresh major-trend lows as markets discount a possible Democrat sweep, with one of its Senate candidates, Warnock, having been declared winner in one of the two Georgia runoff elections, and the other, Ossoff, showing a slim lead in the vote count so far in the other election. Democrats need to… Read more »

XE Market Analysis: Asia – Jan 05, 2021

The Dollar came under modest pressure in N.Y. on Tuesday, with the safe-haven currency weighed down by a moderate risk-on backdrop. Wall Street headed higher, despite the uncertainty of Tuesday’s Georgia Senate runoff elections. A better than expected December manufacturing ISM helped the USD briefly, and aided stocks as well, though the sharply higher ISM… Read more »

XE Market Analysis: North America – Jan 05, 2021

The dollar has been trading steadily so far today after yesterday rebounding quite sharply from 33-month lows. This has come amid a backdrop of sputtering stock markets, with narratives ascribing today’s two runoff elections in Georgia, which has existential implications for the incoming Biden administration (as the result will decide whether Democrats or Republicans will… Read more »

XE Market Analysis: Europe – Jan 05, 2021

The dollar has been trading steadily so far today after yesterday rebounding quite sharply from 33-month lows. This has come amid a backdrop of sputtering stock markets, with narratives ascribing today’s two runoff elections in Georgia, which has existential implications for the incoming Biden administration (as the result will decide whether Democrats or Republicans will… Read more »

XE Market Analysis: Asia – Jan 04, 2021

The Dollar headed modestly higher in N.Y. on Monday, seeing the DXY recover from fresh 33-month lows of 89.42 to a high of 89.92. A sharp bout of risk-off supported the USD, as Wall Street started the year with sharp losses, driven by profit taking from record highs, spiking Covid cases, and angst ahead of… Read more »

XE Market Analysis: North America – Jan 04, 2021

The dollar has started the new year where it left off last year, and that is with a softening bias. This comes against the backdrop of a coursing “everything rally”, with the MSCI Asia-Pacific equity indexand S&P 500 futures hitting record highs. Base metals and oil prices also rallied. The dollar itself is correlating inversely… Read more »

XE Market Analysis: Europe – Jan 04, 2021

The dollar has started the new year with a declining bias, which is of course where it left off last year. This comes against the backdrop of a coursing “everything rally”, with the MSCI Asia-Pacific equity indexand S&P 500 futures hitting record highs. Base metals and oil prices also rallied, and the main crypto currencies… Read more »

XE Market Analysis: Asia – Dec 31, 2020

N.Y. FX trade was very quiet on the last day of the year, though the Dollar managed modest gains through the morning session. The DXY has made new trend lows of 89.52 in overnight Asian trade, though managed to rebound to 89.94 highs into the London close. The weekly jobless claims data likely helped USD… Read more »

XE Market Analysis: North America – Dec 31, 2020

The DXY dollar index has posted another major-trend low, at 89.52, a level last traded in April 2018. The dollar has continued to correlate inversely with global stock market direction, with weakness today being concomitant with the MSCI Asia Pacific rising to a new record high in holiday-thinned conditions. The DJIA yesterday closed at a… Read more »

XE Market Analysis: Asia – Dec 30, 2020

The Dollar was lower in N.Y. on Wednesday, seeing the DXY hit new 33-month lows of 89.56 early in the session, down from 90.02 after the close on Tuesday. The greenback later recovered modestly in light afternoon trade. Prospects for further fiscal stimulus weighed on the USD, while softer incoming data didn’t help either. The… Read more »

XE Market Analysis: North America – Dec 30, 2020

The DXY dollar index posted a new 32-month low at 89.68, while EUR-USD concurrently printed a 32-month high at 1.2295. USD-JPY saw a nine-day low, at 103.12. The pair’s near-10-month low, seen on December 17th, is at 102.88. The Australian and New Zealand dollars posted respective 30- and 32-month highs against their U.S. peer. AUD-JPY… Read more »

XE Market Analysis: Asia – Dec 29, 2020

The Dollar was lower in N.Y. on Tuesday, weighed down by the signing of the stimulus bill, and prospects for direct payments to individuals to rise to $2,000 from $600. The U.S. House voted to increase the amount of payments, while the Senate is expected to vote on the measure at some point on Tuesday… Read more »

XE Market Analysis: Asia – Dec 28, 2020

FX trade was thin in N.Y. on Monday, as London and parts of the continent remained on Christmas break. Price action was choppy, though the USD overall ended mostly higher. The only data release was the December Dallas Fed index, which was lower than expected, but ultimately had little market impact. The last week of… Read more »

XE Market Analysis: Asia – Dec 23, 2020

The Dollar fell through the morning session in N.Y. on Wednesday, which saw the DXY fall from 90.58 highs early in the session to 90.16 after the last of the heavy data slate was released. Friday’s U.S. reports were disappointing overall, and the mix of weaker income, consumption and home sales weighed on the USD…. Read more »

XE Market Analysis: North America – Dec 23, 2020

The euro has been heavy, edging out a five-day low against the pound, and a two-day low versus the yen while nearing yesterday’s low in the case against the dollar. The common currency has been a popular long against the dollar in recent weeks, and prevailing weakness may be reflecting some late hedging of positions… Read more »

XE Market Analysis: Europe – Dec 23, 2020

The euro has been heavy, edging out a five-day low against the pound, and a two-day low versus the yen while nearing yesterday’s low in the case against the dollar. The common currency has been a popular long against the dollar in recent weeks, and prevailing weakness may be reflecting some late hedging of positions… Read more »

XE Market Analysis: Asia – Dec 22, 2020

The Dollar moved broadly higher in N.Y. on Tuesday, taking the DXY from 90.04 lows at the open to 90.70 in late morning. The risk backdrop remained a bit soggy, as threats of further Covid lockdowns kept Wall Street capped, despite the passing the the $900 bln U.S. aid package. This supported the USD, as… Read more »

XE Market Analysis: North America – Dec 22, 2020

The dollar has traded moderately firmer, and the pound has drifted lower, though the U.S. currency has remained comfortably above its Monday lows while the UK currency has remained well off the lows it saw yesterday. News that the EU has rejected the UK’s latest offer on fishing (which was a 35% reduction in the… Read more »

XE Market Analysis: Europe – Dec 22, 2020

The dollar has traded moderately firmer, though has remained off highs seen during yesterday’s whippy price action. The combo of market-jolting news and thin year-end markets exacerbated the strong up-then-down price action that the dollar experienced yesterday, with the currency having now settled at moderately firmer levels. The dollar bloc and other cyclical currencies have… Read more »

XE Market Analysis: Asia – Dec 21, 2020

The DXY rallied to seven-session highs of 91.01 overnight, with safe-haven buying supporting the Dollar following reports of a new, more transmissible strain of Covid in the U.K., which prompted widespread lockdowns there, and a rush to less risky assets. Wall Street opened sharply lower, though later cut its losses, as reports circulated the new… Read more »

XE Market Analysis: North America – Dec 21, 2020

A sharp decline in the pound and a correction in the reflation trade, which has seen the dollar and yen rebound while cyclical currencies, including the dollar bloc, underperform, have characterized and unusually active Monday session, especially one that comes at the beginning of Christmas week. The pound has been negatively impacted by the EU… Read more »

XE Market Analysis: Europe – Dec 21, 2020

A sharp decline in the pound and a correction in the reflation trade, which has seen the dollar and yen rebound while cyclical currencies, including the dollar bloc, underperform, have characterized and unusually active Monday session, especially one that comes at the beginning of Christmas week. The pound has been negatively impacted by the EU… Read more »

XE Market Analysis: Asia – Dec 17, 2020

The Dollar fell to new trend lows on Thursday in N.Y., taking the DXY to 89.76, the first time under the 90.00 mark since April of 2018. Prospects for another fiscal stimulus package, along with a “lower for longer” Fed, and negative real U.S. interest rates will likely continue to result in further USD losses… Read more »

XE Market Analysis: North America – Dec 17, 2020

The dollar posted fresh trend lows as the ‘2021 reflation trade’ ensued. The MSCI Asia-Pacific index hit a new record high, as did S&P 500 futures, while Europe’s Stoxx 600 posted a nine-month high. Commodities gained, with Brent oil prices posting new nine-month highs above $51.00, while base metals rallied, although prices remained off recent… Read more »

XE Market Analysis: Asia – Dec 16, 2020

FX trade was quiet ahead of the FOMC in N.Y. on Wednesday, with the USD moving slightly higher through the morning session. The Dollar headed to session highs following the FOMC announcement, which saw no change in interest rates, as widely expected, though made no changes to its asset purchase program. The Fed did not… Read more »

XE Market Analysis: North America – Dec 16, 2020

The dollar has seen a renewed decline, which has come amid a backdrop of risk-on positioning in global markets with investors not waiting to participate in the ‘2021 reflation trade’. The DXY dollar index dropped to a new 32-month low at 90.13. EUR-USD concurrently rallied above 1.2200 for the first time since April 2018. USD-JPY,… Read more »

XE Market Analysis: Europe – Dec 16, 2020

The DXY dollar index has remained heavy, testing the 32-month low at 90.43. EUR-USD has concurrently been holding firm, though has remained off its 32-month highs at 1.2177-78. USD-JPY, now amid its fourth down day out of the last five, has ebbed to a five-week low at 103.42. As we have noted before, real interest… Read more »

XE Market Analysis: Asia – Dec 15, 2020

The Dollar edged lower in N.Y. trade on Tuesday, seeing the DXY match the 32-month low of 90.42 printed on Monday. FX trade was quiet overall, and activity will likely continue to shrink into the end of the year. Risk-on conditions weighed on the safe-haven USD, as equities rallied on renewed hopes for a fiscal… Read more »

XE Market Analysis: North America – Dec 15, 2020

Narrow ranges have been prevailing among the main dollar pairings and associated cross rates. This has been seen against a backdrop of sputtering global stock markets. Data showing Chinese industrial production rising 7.0% y/y in November, a 20-month high, along with a rise retail sales, didn’t have much impact. Commodities have also been lacking direction… Read more »

XE Market Analysis: Europe – Dec 15, 2020

Narrow ranges have been prevailing among the main dollar pairings and associated cross rates. This has been seen against a backdrop of sputtering global stock markets. Data showing Chinese industrial production rising 7.0% y/y in November, a 20-month high, along with a rise retail sales, didn’t have much impact. Commodities have also been lacking direction… Read more »

XE Market Analysis: Asia – Dec 14, 2020

The Dollar headed lower overnight, leaving the DXY at near a 33 month base of 90.43 early in N.Y. on Monday. The initial rollout of Covid vaccines in the U.S. appeared to have given the USD a brief boost, taking the Dollar index to 90.84 highs. FX trade slowed considerably by late morning, leaving major… Read more »

XE Market Analysis: North America – Dec 14, 2020

The pound has rallied by over 1.5% against the dollar, and by over 1% in the cases against the euro and yen. This comes with the EU and UK announcing agreeing to extend trade negotiations. Leaders had last week set yesterday as being the make or break moment. Neither side was willing to walk away,… Read more »

XE Market Analysis: Europe – Dec 14, 2020

The pound has rallied by over 1% against the dollar and yen, and by nearly 1% against the euro. This comes with the EU and UK announcing agreeing to extend trade negotiations. Leaders had last week set yesterday as being the make or break moment. Neither side was willing to walk away, and evidently both… Read more »

Weekly kill: Soaring Aussie dollar pushes grid prices lower

While the international and domestic beef trade out of Australia continues to cop a buffeting from COVID-related demand factors and high rates of kill in competing exporter countries, currency movement has played a big role in recent slaughter cattle pricing trends. Source: Beef Central Weekly kill: Soaring Aussie dollar pushes grid prices lower

NAB forecasts AUD rise to US80c mark by mid-2022

Continued appreciation of the Australian Dollar (AUD) has offset better seasonal conditions to see the NAB Rural Commodities Index fall slightly by 3.7 per cent in August. Source: Grain Central NAB forecasts AUD rise to US80c mark by mid-2022

NAB forecasts AUD rise to US80c mark by mid-2022

Continued appreciation of the Australian Dollar (AUD) has offset better seasonal conditions to see the NAB Rural Commodities Index fall slightly by 3.7% in August. Source: Beef Central NAB forecasts AUD rise to US80c mark by mid-2022

Aussie dollar continues to trend higher, hitting 18-month high

The Australian dollar has continued to creep higher this week, reaching a new 18-month high. The currency reached as high as US73c during trading yesterday, before closing at 72.4c – a 12pc rise since March. Source: Beef Central Aussie dollar continues to trend higher, hitting 18-month high

XE Market Analysis: Asia – Aug 19, 2020

The Dollar managed to stem the bleeding in N.Y. on Wednesday, and rallied modestly through the session. The DXY held above Tuesday’s 27-month low of 92.13, rallying from early lows of 92.24 to 92.75 highs. There was no data to drive markets. Wall Street was modestly higher, and Apple hit a milestone, becoming the first… Read more »

XE Market Analysis: North America – Aug 19, 2020

The dollar has managed to find a toehold against most currencies after printing fresh trend lows against many yesterday. The exceptions were the pound and the Canadian dollar, which both clocked new trend highs versus the greenback. The USD index (DXY) has been consolidating recent losses above Tuesday’s 17-month low at 92.13, with EUR-USD concurrently… Read more »

Aussie dollar recovers from COVID-19 shock

The Aussie dollar is more or less recovered from COVID-19 impacts, which saw the currency plunge 15 percent to below US57c in March. Source: Beef Central Aussie dollar recovers from COVID-19 shock

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

Aussie dollar hits four-month low

Concerns over the economic impact of China’s coronavirus outbreak is the latest factor in a 4pc decline in the value of the Aussie dollar since the end of 2019. Source: Beef Central Aussie dollar hits four-month low

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 »

Currency Market Analysis: Sterling Rises Following Barnier Comments and Better Than Expected Retail Sales

OVERVIEW Better-than-expected retail numbers in the UK are giving sterling much-needed support EU Chief Negotiator Michel Barnier signalled a willingness to discuss terms on the Irish backstop Stock markets, the price of gold, and crude oil prices are mostly down in today’s trading HIGHLIGHT Source: XE news feed Currency Market Analysis: Sterling Rises Following… Read more »

XE Market Analysis: Brexit Uncertainty Endures and Continues to Rock the Pound

OVERVIEW The greenback is trading firmer, up by 0.15% against other major currencies. The British pound slid to its lowest level since January on growing Brexit uncertainty. Gold oscillates around $1,400 as the market waits for Fed Chair Powell’s assessment. Source: XE news feed XE Market Analysis: Brexit Uncertainty Endures and Continues to Rock… Read more »

XE Market Analysis: USD Falls to October Lows Over Trade Talks with China

OVERVIEW US Dollar weakens trade talks wrap up for the week between the US & China with no apparent winner.  The Canadian dollar has strengthened today as the Bank of Canada leaves interest rates on hold. Sterling mixed as PM May suffers setback ahead of Tuesday’s parliamentary vote on Brexit.  HIGHLIGHT Source: XE news… Read more »

XE Market Analysis: US Dollar Falls as Fed Expected to Pause Rate Hikes

OVERVIEW US Dollar weakens as Fed expected to halt rate hikes The Canadian dollar rises to 4-week high as oil prices rebound Sterling gains ground before crucial Parliamentary Brexit vote HIGHLIGHT The Canadian Dollar touched its strongest level since mid-December today as oil rose by 1.3%. This move, combined with US Dollar weakness, helped the CAD… Read more »

Aussie dollar hits three-year low, as China economy falters

Weak Chinese economic data, rising trade tensions between China and the US, and a stronger US dollar sent the local currency sent the Australian dollar to a three-year low below US70c overnight. The post Aussie dollar hits three-year low, as China economy falters appeared first on Beef Central. Source: Beef Central Aussie dollar hits… Read more »

XE Market Analysis: North America – Nov 02, 2018

Both the Dollar and Yen have been under pressure today against most other currencies. EUR-USD pegged a fresh 9-day high at 1.1445, extending a three-day high rebound from Wednesday’s four-month low at 1.1302. The gains was seen despite the final release of the Eurozone’s October manufacturing PMI being revised lower to a 26-month low reading… Read more »

XE Market Analysis: Europe – Nov 02, 2018

The Dollar and Yen have traded generally weaker against most other currencies amid a backdrop of strongly-rebounding global stock markets. A détente between on the U.S. and China on trade, along with overall decent corporate earnings, mostly firm U.S. data this week, and a plethora of stock-boosting measures by Beijing, have collectively elicited a rebound… Read more »

XE Market Analysis: Asia – Nov 01, 2018

The Dollar pulled back from Wednesday’s trend high, leaving the DXY at lows of 96.20, down from 97.20 highs seen yesterday. Incoming data was mostly in-line with expectations, though the manufacturing ISM was light of forecasts. Wall Street rallied as Trump said progress was being made in U.S./China trade matters. EUR-USD climbed to 1.1424 highs,… Read more »

XE Market Analysis: North America – Nov 01, 2018

The Dollar has come under broad pressure, losing over 0.5% to the Euro, nearly 1% to the Pound and comfortably more than 1% against the Australian and New Zealand Dollars. EUR-USD posted a rebound high of 1.1388 in what is the first daily back-to-back gain in three weeks. USD-JPY has been left out of the… Read more »

XE Market Analysis: Europe – Nov 01, 2018

The Dollar has come under pressure today, initially via short-squeezes in AUD-USD, NZD-USD and GBP-USD, and latterly by a rebound in EUR-USD, which has recouped to the mid 1.1300s from yesterday’s four-month low at 1.1302. The Aussie and Kiwi Dollars, meanwhile, are showing 1%-plus gains, and Cable is up by 0.8%. Source: XE news… Read more »

XE Market Analysis: Asia – Oct 31, 2018

The Dollar index printed fresh tend highs of 97.19 in N.Y. on Wednesday, with support coming from a higher than expected ADP jobs print. EUR-USD bottomed at 1.1305, just above the August low, while USD-JPY printed three-week highs before turning lower. USD-CAD bottomed at 1.3110 before rallying to 1.3165, while Cable bucked the trend and… Read more »

XE Market Analysis: North America – Oct 31, 2018

EUR-USD printed a fresh four-month low at 1.3330. Data, including an expected rise in October Eurozone HICP to 2.2% y/y from 2.1%, had little impact. We remain bearish of EUR-USD with signs of flagging economic growth momentum in the Eurozone, along with concerns about the Eurosceptic political movement, juxtaposing a U.S. economy in relative health… Read more »

XE Market Analysis: Europe – Oct 31, 2018

The Dollar majors have been trading mixed and in generally narrow ranges against a backdrop of mostly stock markets, which are finishing a bad month with something of a flourish. Chinese stock markets managed a second day of gains, despite the official October manufacturing PMI falling to 50.2, the lowest since July 2016 and down… Read more »

XE Market Analysis: Asia – Oct 30, 2018

The Dollar rallied in N.Y. on Monday, sending the DXY to 16-month highs of 97.02. Incoming U.S. data was supportive, as consumer confidence held up better than expected. EUR-USD fell from over 1.1380 to 1.1341 lows, while USD-JPY topped at 112.98. USD-CAD was supported by softer oil prices, peaking at 1.3147. Brexit concerns continues to… Read more »

Key Currency Pairs: the Pound/Dollar and the Canadian Dollar/Dollar

           Due to high inflationary pressures, currency traders had assumed that the Bank of England would be raising rates this year.  BOE governor Carney threw cold water on that assumption during an interview with the BBC: The governor of the Bank of England has said that an interest rate rise is “likely” this year, but… Read more »

A Review of EUR/USD; AUD/JPY; USD/CAD

EUR/USD             First a bit of history:   Source: XE news feed A Review of EUR/USD; AUD/JPY; USD/CAD

XE Market Analysis: Asia – Dec 27, 2017

FX trade was sleepy in N.Y. on Wednesday, with activity drying up into year-end. The dollar was mixed, losing marginal ground to the euro and pound, while making modest inroads against the yen and CAD. Slow trade can be expected to continue until 2018 kicks off next week.[EUR, USD] Source: XE news feed XE… Read more »

XE Market Analysis: North America – Dec 27, 2017

The dollar has been trading with a soft tilt, with USD-JPY edging out a four-session low at 113.12, EUR-USD a four-session high at 1.1889, and USD-CAD making three-week low and AUD-USD a two-month high, at 0.7773, with the Aussie buoyed by a strong rally in copper prices. The softer tone in the dollar has come… Read more »

XE Market Analysis: Europe – Dec 27, 2017

The dollar has been trading with a soft tilt, with USD-JPY edging out a four-session low at 113.12, EUR-USD a four-session high at 1.1884, and USD-CAD making three-week low and AUD-USD a two-month high, at 0.7750. This has come despite robust producer sentient data yesterday out of the U.S., along with the expected fiscal stimulus… Read more »

XE Market Analysis: North America – Dec 22, 2017

Narrow ranges have prevailed so far today, which will more than likely remain the case with market participants non-committal so close to the holiday period and year-end. USD-JPY has settled around the 113.25-25 mark after yesterday clocking a 10-day high of 110.63. Yen crosses, which have been buoyant this week, with EUR-JPY making a 26-month… Read more »

XE Market Analysis: Europe – Dec 22, 2017

Currencies are likely to remain range bound as market participants will be non-committal into the holiday period. The yen, while steady today, has been finishing the year on a softening tack. ‘Abenomic’ policies remain in full swing, with the cabinet today approving a stimulus budget, and with the BoJ having signalled yesterday that it is… Read more »

XE Market Analysis: Asia – Dec 21, 2017

The dollar index pulled back from the 93.50 level at the N.Y. open, to a base of 93.26, in relatively light trade. In coming U.S. data weighed on the greenback to an extent, as Q3 GDP was revised slightly lower, and jobless claims rose more than expected. EUR-USD chopped around inside of 1.1850-80, while USD-JPY… Read more »

XE Market Analysis: North America – Jul 06, 2017

The dollar has traded softer against most currencies. USD-CAD came under fresh pressure, which found bids but amid a 1%-plus rebound in oil prices (following yesterday’s near 4% haemorrhage). EUR-USD lifted above 1.1360 after ECB member Villeroy said that the prevailing non-standard policy is “not eternal,” which was sufficient to spark a tick higher in… Read more »

XE Market Analysis: Europe – Jul 06, 2017

The dollar majors have been plying narrow ranges so far today, with a blip higher in the greenback following the release of the Fed minutes from the mid June FOMC meeting not amounting to much. The minutes didn’t discourage beliefs the Fed will continue to reduce accommodation, via rate hikes and the balance sheet unwind…. Read more »

XE Market Analysis: Asia – Jul 05, 2017

The dollar was relatively steady through the morning session, though later slipped briefly to N.Y. session lows after the FOMC minutes release, before quickly bouncing back above pre-release levels. EUR-USD popped to 1.1357 highs from near 1.1340, before falling to 1.1326 lows. USD-JPY meanwhile, dipped to 112.98 from 113.30, and has since rallied to 113.47… Read more »

XE Market Analysis: South African Rand Slides

OVERVIEW The Eurozone economy continues to see solid levels of growth, though activity slowed slightly in the services sector with June’s PMI dipping to 55.4, from 56.3. Eurozone retail sales rose 0.4% in May, stronger than forecast, adding to the year-on-year growth of 2.6%. The UK service sector slowed more than expected last month as… Read more »

Houses, cars, and manufacturing Oh My!

We got contrasting data showing weakness and strength on Monday, that on balance nudges my outlook slightly darker. Source: XE news feed Houses, cars, and manufacturing Oh My!

XE Market Analysis: North America – Jul 05, 2017

The dollar has continued its recovery run, posting gains for a third consecutive session in the case against the euro and sterling, and rising against other currencies . USD-JPY has logged a fresh seven-week high at 113.62, while EUR-USD has hit a five-session low at 1.1318 and Cable a four-session low at 1.2893. The narrow… Read more »

XE Market Analysis: Europe – Jul 05, 2017

The dollar majors have been directionally challenged so far today, with narrow ranges prevailing. EUR-USD has settled around 1.1350, modestly above the five-session low posted yesterday at 1.1336. USD-JPY has been trading on either side of 113.00 over the last day, holding in a consolidation pattern after logging a seven-week high at 113.47 on Monday,… Read more »

XE Market Analysis: Asia – Jul 04, 2017

The dollar majors traded steadily in quiet trading conditions in the absence of U.S. markets. The Canadian and Australian dollar were the biggest movers, with the former rallying to fresh trend highs following the latest instalment of hawkish BoCspeak, while latter dove after the RBA signalled out exchange rate strength as a hindrance to the… Read more »

XE Market Analysis: Reserve Bank of Australia Leave Rates Cautiously on Hold

OVERVIEW The Australian Dollar slumps in value as the Central Bank chooses to leave interest rates on hold with a less hawkish tone.  The US Dollar takes a rest for Independence Day. The Euro continues to consolidate in the 1.13’s against the US Dollar backed up by the recent strong economic data. The Pound weakens… Read more »

XE Market Analysis: North America – Jul 04, 2017

The narrow trade-weighted USD index edged out a fresh five-session high at 96.08, despite a softening in USD-JPY. EUR-USD declined for a fourth-straight session, which follows ECB efforts to correct its tapering message. The pair logged a four-session low at 1.1336. Cable logged a four-session low at 1.2915 before recouping toward 1.2950. UK construction PMI… Read more »

XE Market Analysis: Europe – Jul 04, 2017

The Australian dollar dove following the RBA announcement, with Governor Lowe’s statement giving a mixed prognosis of the economy and, in particular, highlighting that an “appreciating exchange would complicate” the transition of the economy from the mining investment boom. AUD-USD fell over 0.6% in making a four-session low at 0.7604, and AUD-JPY shed over 1%… Read more »