Category: Financial Markets

Financial markets news from external sources.

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 »

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 »

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 »

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 »

XE Market Analysis: Asia – Sep 05, 2019

The Dollar was under some pressure early in the session, amid risk-on conditions on the back of new trade negotiation plans between the U.S. and China in October. The Greenback later turned higher following a stronger ADP jobs report, and a sharper rebound in the services ISM. The DXY bottomed ahead of the ISM at… Read more »

XE Market Analysis: North America – Sep 05, 2019

The Pound surfed a wave of Brexit relief as the odds for a no-deal Brexit ebb back some in light of political developments in the UK. Cable was a little off its highs heading into the New York interbank open, but still showing a 0.7% on the day, and was up over 3% from the… Read more »

XE Market Analysis: Europe – Sep 05, 2019

The Australian Dollar posted a one-month high at 0.6825 against the U.S. buck, benefiting from a backdrop of rallying stock markets in Asia. News that the U.S. and China announced that they would resume trade negotiations early next month sparked a fresh round of risk-on positioning, which helped lift both the Aussie and New Zealand… Read more »

XE Market Analysis: Asia – Sep 04, 2019

The Dollar fell in Europe, and moved lower still through the U.S. session on Wednesday, taking the DXY to 98.46 lows from mid-morning highs of 98.68 . Risk-on conditions returned fallowing some calm in Hong Kong, once the government’s extradition bill was pulled, and after a better China services PMI. Wall Street rallied, while Treasury… Read more »

XE Market Analysis: North America – Sep 04, 2019

The Dollar has traded most softer, although making gains against an underperforming Yen, while the Pound continued to charge higher, extending the rebound from yesterday that was sparked by news that opposition and Tory party rebel members of parliament had successfully wrested control of the House of Common’s agenda, paving the way for a vote… Read more »

XE Market Analysis: Europe – Sep 04, 2019

A risk-back-on sentiment has weighed on the Yen and underpinned the Australian Dollar, with the AUD-JPY cross consequently heading into the London interbank open with gains of over 0.5%. USD-JPY lifted to around 106.20-25 from sub-106.00 levels, while AUD-USD rallied to a nine-day peak at 0.6783. The Aussie, being a liquid currency proxy on China,… Read more »

XE Market Analysis: Asia – Sep 03, 2019

After rallying to two-plus year highs, the Dollar index pulled back in N.Y. on Tuesday. After peaking at 99.37, the DXY fell back to 98.93 lows in the aftermath of a weaker U.S. manufacturing ISM outcome. the IS headed to contraction territory under the 50.0 mark for the first time in over three-years. Trade concerns… Read more »

XE Market Analysis: Fasten Your Seat Belts, Sharp Brexit Curves Ahead

OVERVIEW The Dollar Index starts the final month of Q3 strongly, up 0.4% against the major currencies. British Pound crashes below the key 1.2000 handle, as MPs return to Parliament. WTI Crude oil slips 1.5%, sending commodity-link currencies lower. Source: XE news feed XE Market Analysis: Fasten Your Seat Belts, Sharp Brexit Curves Ahead

XE Market Analysis: North America – Sep 03, 2019

The Dollar has remained buoyant, which has seen the narrow trade-weighted USD index hit a fresh 28-month high today, at 99.33. EUR-USD concurrently ebbed to a new 28-month low at 1.0930 in what is now the pair’s seventh consecutive day of printing lower lows. The pairing is down by around 1.3% from week-ago levels. Cable,… Read more »

XE Market Analysis: Europe – Sep 03, 2019

The Dollar has remained buoyant, which has seen the narrow trade-weighted USD index hit a fresh 28-month high today, at 99.33. EUR-USD concurrently ebbed to a new 28-month low at 1.0930 in what is now the pair’s seventh consecutive day of printing lower lows. The pairing is down by 1.3% from week-ago levels. Cable, meanwhile,… Read more »

XE Market Analysis: Europe – Sep 02, 2019

The dollar majors have been maintaining narrow ranges so far today in quiet early week, early month trading conditions against a backdrop of sputtering stock markets. PMI manufacturing data out of Asia painted a worrisome picture, overall. While the CAIXIN PMI for China came in above expectations in lifting to 50.4 from 49.9, orders remained… Read more »

XE Market Analysis: Asia – Aug 30, 2019

The DXY traded to better than two-year highs of 99.02 in N.Y. on Friday, up from morning lows of 98.41. The Dollar’s yields advantage over the Euro and Yen in particular, including easing central banks, have supported the Greenback of late, as has the relative outperformance of the U.S. economy. Friday’s U.S. data was generally… Read more »

XE Market Analysis: Canadian GDP Growth Impresses while Eurozone Sends out SOSes

OVERVIEW Canada’s real GDP increased by 3.7% in the second quarter German retail sales dropped by a couple of points Investors are curious to see how the British Parliamentary session will play out next week after PM Johnson received parliamentary approval to suspend until just before October 31st HIGHLIGHTS Source: XE news feed XE… Read more »

XE Market Analysis: North America – Aug 30, 2019

The Dollar has continued to trade steady-to-firmer amid a backdrop of rallying global stock market. China’s Foreign Ministry reaffirmed today that the U.S. and China are maintaining “effective communication.” The rekindling of risk appetite has taken the perceived pressure off the Fed to ease aggressively, which in turn has buoyed up the Dollar. EUR-USD declined… Read more »

XE Market Analysis: Europe – Aug 30, 2019

The Dollar has continued to trade on a mixed-to-firm footing, edging out a four-day high versus the Australian Dollar and matching yesterday’s four-week highs it saw against the Euro, while holding steady so far today against the Pound and the Canadian buck, and giving back some of the gains seen yesterday in the case against… Read more »

XE Market Analysis: Asia – Aug 29, 2019

The Dollar was stronger in N.Y. trade on Thursday, lifted by positive developments on the trade war front. China officials said trade talks with the U.S. remain on the table in September, and indicated that for mow at least, there would be no retaliation for the new U.S. tariffs set to be implements on September… Read more »

XE Market Analysis: North America – Aug 29, 2019

The Yen went from outperformer to underperformer after China’s commerce ministry affirmed that September trade talks are not off the table. There was a palpable sigh of relief in markets after the Trump administration yesterday made official its extra 5% tariff on $300 bln in Chinese goods imports, affirming collection dates of September 1 and… Read more »

XE Market Analysis: Europe – Aug 29, 2019

The Yen has risen versus most other currencies today as markets take to defensive positioning amid a backdrop of sputtering stock markets. The forex markets’ barometer of risk appetite, AUD-JPY, has been a relatively big mover, and was showing a near 0.5% decline heading into the London interbank open. The less liquid NZD-JPY cross was… Read more »

XE Market Analysis: Asia – Aug 28, 2019

The Dollar was little changed in N.Y. on Wednesday, leaving the DXY contained inside of a 98.22 to 98.13 trading range. There was nothing in the way of data to move markets, while Wall Street gained, and the U.S. Treasury curve remained inverted. Concerns over the U.S./China trade outlook took a breather today, with no… Read more »

XE Market Analysis: North America – Aug 28, 2019

The Dollar has continued to trade in a directionally mixed manner, today holding steady against the Yen while gaining versus the Euro and against an underperforming Pound, the latter of which was hit by news that the UK prime minister is taking a controversial measure to prorogue (suspend) parliament as a means to limit the… Read more »

XE Market Analysis: Europe – Aug 28, 2019

The Dollar has continued to trade directionally mixed amid a backdrop of misfiring stock markets as participants digest recent mixed signals from the U.S.-China trade front. The narrow trade-weighted USD index (DXY) has settled in a narrow range above 98.00, having recouped about three quarters of the losses seen on Friday, when China announced retaliatory… Read more »

XE Market Analysis: Asia – Aug 27, 2019

The Dollar was held to relatively narrow ranges in N.Y. on Tuesday, though the DXY did manage very modest gains, bouncing from 97.89 lows at the open, and later peaking at 98.04. Better than expected U.S. consumer confidence data helped support the Greenback, though mixed signals with regards to the U.S./China trade war, have largely… Read more »

XE Market Analysis: North America – Aug 27, 2019

The Dollar has been putting in another mixed day of trading, losing ground to the Yen and Sterling, holding near net unchanged versus the Euro while gaining moderately against the Australian and New Zealand Dollars. The Yen firmed and then softened, firming amid intraday declines in European equity markets and S&P 500 futures, and then… Read more »

XE Market Analysis: Europe – Aug 27, 2019

The Yen firmed up, and was heading into the London interbank open with a 0.4% gain versus the Dollar, and a 0.6% rise against the Australian buck, which has been the underperformer of the main currency pack. The flight-to-safety dynamic, while modest, has been concomitant with a dip in S&P 500 futures, and has come… Read more »

XE Market Analysis: Asia – Aug 26, 2019

The Dollar was a little higher overall in N.Y. on Monday, taking the DXY to 98.08 highs from opening lows of 97.95. EUR-USD was steady through the morning, topping at 1.1124, later bottoming at 1.1097. USD-JPY USD-JPY peaked at 106.40 early on, later settling into a narrow range on either side of 106.00. USD-CAD was… Read more »

XE Market Analysis: CAD Consolidates and Shows Little Interest, eh!

OVERVIEW The Dollar Index rebounds 0.5% and greenback firms against most major currencies. Poor IFO reading accentuates pressure on the Euro. WTI Crude oil added $1.00 to trade around $55 a barrel. Source: XE news feed XE Market Analysis: CAD Consolidates and Shows Little Interest, eh!

XE Market Analysis: North America – Aug 26, 2019

Developments on the trade front inspired fresh volatility in forex markets today, which saw the Yen hit a 33-month high against the Dollar before turning quite sharply lower. Thin conditions prevailed in the absence of London markets. USD-JPY lifted back to the upper 105.0s after hitting a 33-month low at 104.45 in early Tokyo trading…. Read more »

XE Market Analysis: Europe – Aug 26, 2019

High volatility has been the order in forex markets. News that President Trump said that China called U.S. negotiators and that “we’re going to start talking very seriously with China” and that “I think we will make a deal” helped spark a rotation low in the yen after the safe-haven currency choice had earlier rallied… Read more »

XE Market Analysis: Asia – Aug 23, 2019

The Dollar Index fell to eight session lows of 97.67 in N.Y. on Friday, coming from 98.42 at the open. USD sellers stepped in after China announced 5-10% tariffs on an additional $75 bln of U.S. goods, and the Greenback was weighed down by a fairly dovish, but non-committal speech from Fed chair Powell. Volatility… Read more »

XE Market Analysis: Europe – Aug 23, 2019

The New Zealand Dollar outperformed and China’s Yuan weakened, while the U.S. buck traded modestly firmer against most currencies as market participants anticipate Fed Chair Powell’s address at the Jackson Hole Symposium later today. Regarding Powell, market participants are evidently not overly hopeful he will signal a clear and strong commitment to sustained rate cuts… Read more »

XE Market Analysis: Asia – Aug 22, 2019

The Dollar was lower through N.Y. morning trade on Thursday, seeing the DXY fall from pre-open highs of 98.39 to lows of 98.08. The bulk of losses came following the Markit manufacturing PMI outcome, which dipped under the 50 bust/boom line for the first time since September of 2009. Activity slowed at mid-morning, as market… Read more »

XE Market Analysis: The US Dollar Steadies Ahead of Jackson Hole Party

OVERVIEW The Dollar Index is flat near a 2019 high, waiting for the big Central Bankers’ meeting we’ve been mentioning over the past few days.  Soft PMI readings send the Euro below the 1.11 handle. WTI Crude oil gained another 1.20% but commodity-currencies remain on the defensive. HIGHLIGHT Source: XE news feed XE Market Analysis:… Read more »

XE Market Analysis: North America – Aug 22, 2019

EUR-USD more than reversed gains seen following above-forecast Eurozone PMI data, dropping back to the 1.1175-80 area, leaving the post-data high at 1.1113, which matched the one-week peak seen earlier in the week. The common currency saw a similar U-turn lower against the yen, Swiss franc and other currencies. Source: XE news feed XE… Read more »

XE Market Analysis: Europe – Aug 22, 2019

The Yen has been on the rise amid a backdrop of convulsing stock markets. Yesterday’s FOMC minutes rekindled a risk-off vibe for the simple lack of a signal that the Fed’s July rate cut was the start of an easing cycle. Fed Chair Powell will have opportunity to refine the central bank’s guidance at his… Read more »

XE Market Analysis: Asia – Aug 21, 2019

FX activity was extremely muted ahead of the FOMC minutes release, leaving major Dollar pairings largely inside of narrow ranges. Better U.S. housing data supported the USD some through the morning. Later, the dollar showed minimal reaction to the minutes, which didn’t reveal strong clues as to the rate path going forward. USD-JPY wiggled between… Read more »

XE Market Analysis: North America – Aug 21, 2019

The Dollar has traded mixed, holding near net steady versus the Euro, firmer against the Yen, Swiss Franc and Pound, and lower against the Australian and Canadian Dollars. The Yen traded moderately softer as stock markets in Europe and S&P 500 futures lifted into expected signalling of fresh monetary stimulus by major central banks at… Read more »

XE Market Analysis: Europe – Aug 21, 2019

The main currencies have been steady so far today amid a backdrop of sputtering stock markets as market participants wait on upcoming central bank signals from today’s publication of the FOMC minutes from the recent Fed meeting and from the upcoming gathering of central bank policymakers at the Jackson Hole Symposium. Investors are also monitoring… Read more »

XE Market Analysis: Asia – Aug 20, 2019

The Dollar was broadly lower in N.Y. trade on Tuesday, taking the DXY from 98.45 highs in early trade, to 98.13 lows into the close. Another dive in Treasury yields weighed on the Greenback, with market participants placing bets on a dovish set of FOMC minutes on Wednesday, and a just as dovish speech from… Read more »

XE Market Analysis: North America – Aug 20, 2019

The Dollar has headed into the New York interbank open on a mixed footing, showing gains versus the Pound while changing hands at near net unchanged levels against the Euro and Canadian Dollar, and showing losses against the Yen and Australian Dollar. Sterling’s underperformance saw Cable print a three-day low at 1.2074, which was the… Read more »

XE Market Analysis: Europe – Aug 20, 2019

The Australian Dollar has traded firmer and, to a lesser extent, the New Zealand buck. The gains came despite Chinese stock markets sputtering, although other equity markets across the Asia-Pacific region performed better, continuing the recouperation from last week’s acute phase of risk-off positioning. AUD-USD printed a five-day high, at 0.6795, as did AUD-JPY, at… Read more »

XE Market Analysis: Asia – Aug 19, 2019

The Dollar was rangebound in N.Y. on Monday, leaving the DXY between 98.18 lows at the open, and 98.27 after the London close. There was no data to drive the market. Wall Street was higher on trade negotiation hopes, while Treasury yields edged higher as well. EUR-USD slipped from 1.1104 to lows under 1.1090 later… Read more »

XE Market Analysis: North America – Aug 19, 2019

Moderate weakness in the Yen and the Pound has characterized early-week trading so far. The Yen nudged lower against the Dollar and Euro, tracking a rise in U.S. Treasury and Bund yields, which were accompanied by gains in Asian and European stock markets to complete a risk-back-on picture. USD-JPY printed a two-session high at 106.66,… Read more »

XE Market Analysis: Europe – Aug 19, 2019

The Dollar majors have been plying narrow ranges in early-week trading so far, with principal pairings and associated cross rates showing less than a 0.2% net movement heading into the London interbank open. EUR-USD settled in the upper 1.1100s. The pair was lifted on Friday from levels around 1.1170 by reports that Germany will shift… Read more »

XE Market Analysis: Asia – Aug 16, 2019

The dollar headed mostly lower in N.Y. on Friday, dented by a softer consumer sentiment report, and news that Germany will shift to deficit spending should the country enter recession. The latter gave the euro a boost from two-week low of 1.10667, to 1.1106 highs. USD-JPY remained supported by general risk-on conditions, topping at 106.43,… Read more »

XE Market Analysis: North America – Aug 16, 2019

EUR-USD has declined for a fifth consecutive day, earlier pegging a two-week low at 1.1074. A stop-loss and long-covering decline in EUR-GBP, which has fallen by nearly 1%, has driven a broader underperformance in the Euro. EUR-USD’s ebb today has extended the fall the pairing saw following yesterday’s firmer than expected U.S. retail sales and… Read more »

XE Market Analysis: Europe – Aug 16, 2019

Narrow ranges have been prevailing amid a restive mood in global markets. Hopes for more central bank stimulus have been winning out in equity markets, for now, though this is juxtaposed by fears that a number of major economies are simultaneously heading for recession, with a number of developing-world economies with high dollar debt levels… Read more »

XE Market Analysis: Asia – Aug 15, 2019

The Dollar was mostly firmer through the N.Y. session on Thursday, with gains coming on the back of decent U.S. data. Trade angst remains front and center, which has tended to support the USD and JPY this week. EUR-USD faded to two-week lows of 1.1092 before recovering over 1.1115. USD-JPY peaked at 106.34, though later… Read more »

XE Market Analysis: US Dollar Remains Sticky Amidst Chinese Retaliation Act

OVERVIEW Investor pour flows into traditional safe-haven assets Euro drops below 1.12 handle over fears of a recession. WTI Crude oil drops for the second day in a row after Chinese declarations of trade policy intentions. Source: XE news feed XE Market Analysis: US Dollar Remains Sticky Amidst Chinese Retaliation Act

XE Market Analysis: North America – Aug 15, 2019

A revival in risk-off positioning saw the Yen more than recover losses seen earlier in the day, while S&P 500 went from showing a 0.7% gain to a 0.6% loss in overnight trading. Beijing’s vow to take “necessary countermeasures” rekindled investor anxiety, offsetting President Trump’s decision to delay the latest earmarked tariffs to December from… Read more »

XE Market Analysis: Europe – Aug 15, 2019

The Aussie Dollar rallied on Australian employment data, which expanded by 41k, well up on the median forecast for a 14k rise and with full-time positions making up a solid 34.5k of the total. Despite a 2.8% closing loss in the local ASX equity index, which markedly underperformed other Asian indexes, the data catalyzed a… Read more »

XE Market Analysis: Asia – Aug 14, 2019

The Dollar was mostly firmer in N.Y. on Wednesday, with severe risk off conditions helping the USD and JPY. Wall Street melted down as the 2-10 year Treasury curve inverted for the first time since 2006, indicating heightened risk for a recession at some point in 2020. In addition, the 30-year bond yields fell to… Read more »

XE Market Analysis: North America – Aug 14, 2019

The Yen rallied during the London morning session, recouping a portion of the losses seen yesterday after President Trump’s partial de-escalation of his trade war with China. Data showing the slowest rise in Chinese industrial production in 17 years, along with a -0.1% q/q print in German Q2 GDP, spooked markets anew, sparking a sharp… Read more »

XE Market Analysis: Europe – Aug 14, 2019

Consolidation has been ensuing so far today among the main currencies, which follows the bout of risk-off-reversal positioning during yesterday’s London afternoon session after President Trump announced a delay in new tariffs on Chinese goods imports. USD-JPY settled in the mid 106.0s, below yesterday’s peak at 106.97, which was the product of a vertiginous rally… Read more »

XE Market Analysis: Asia – Aug 13, 2019

The Dollar firmed up early in the session, supported by a warmer than expected U.S. CPI report. Wall Street and Treasury yields started lower however, with the 30-year bond printing all-time low yields of 2.095%. The Dollar, equities, and yields were subsequently jolted higher by news that the U.S. would re-start trade negotiations with China,… Read more »

XE Market Analysis: The Currency Market Switched to Risk-Off Mode

OVERVIEW Gold jumped 0.5% to its highest level since April 2013 over global tensions. USD/CAD is directionless and is keeping an eye on the oil futures market. WTI Crude oil shed 0.9% after a three-day gain. Source: XE news feed XE Market Analysis: The Currency Market Switched to Risk-Off Mode

XE Market Analysis: North America – Aug 13, 2019

Currency markets have been in a somewhat directionally non-committal mood, with even a backdrop of sputtering global stock markets only managing to elicit modest safe-haven positioning. USD-JPY ebbed to within a pip of the seven-month low seen yesterday at 105.05. EUR-JPY and AUD-JPY also drifted lower, though both remained off their respective lows from yesterday…. Read more »

XE Market Analysis: Europe – Aug 13, 2019

The Dollar has traded moderately firmer against most of the other main currencies outside the case against the Australian Dollar, which has modestly outperformed so far today. The Yen softened, correcting some of the recent safe-haven driven gains, despite a tumble on Wall Street yesterday and across Asian equity bourses today, though the Japanese currency… Read more »

XE Market Analysis: Asia – Aug 12, 2019

The Dollar faded lower through the N.Y. session, though ranged remained narrow. The DXY opened at highs of 97.55, later making its way to 97.33 lows. There was no data to drive the market on Monday, though the trade war, Hong Kong protests, Italian government crisis, Brexit, etc, saw Treasury yields and Wall Street slide…. Read more »

XE Market Analysis: Currency Market Makes a Slow Start Amidst Thin Liquidity

OVERVIEW GBP/USD is recovering from recent lows but remains vulnerable to Brexit uncertainty USD/CAD is directionless as it keeps an eye on the oil futures market. WTI Crude oil gains on the day after crashing 9% last week.  Source: XE news feed XE Market Analysis: Currency Market Makes a Slow Start Amidst Thin Liquidity

XE Market Analysis: North America – Aug 12, 2019

A risk-off theme propelled the Yen higher while the likes of the China-proxy Australian Dollar, and many developing-world currencies, underperformed. The Breixt-afflicted Pound also posted fresh major-trend lows during a notably thin Asian session (amid holidays in Japan and Singapore) but managed to rebound some. Cable lifted back above 1.2050 after printing a 31-month low… Read more »

XE Market Analysis: Europe – Aug 12, 2019

The Pound hit fresh major-trend lows in thin Asia markets (both Japan and Singapore centres have been closed for public holidays), which put Cable at a 31-month low at 1.2015, GBP-JPY at a 33-month low and EUR-GBP at a 10-year high, at 0.9324. The fresh lows follow Friday’s unexpected quarterly contraction in Q2 GDP data… Read more »

XE Market Analysis: Asia – Aug 09, 2019

The Dollar edged lower through the morning session in N.Y. on Friday, weighed down some by a cooler core U.S. PPI print. The DXY fell to 97.36 from early highs of 97.61, before recovering over 97.50 into the close on pre-weekend short covering. Wall Street was lower on ongoing trade concerns, while Treasury yields remained… Read more »

XE Market Analysis: Investors Play Safe Despite A Return to Market Calmness

OVERVIEW GBP plunges again on soft GDP readings. USD/CAD is choppy after a weak employment report card WTI Crude oil continues to move northbound, gaining 3% as of this writing. Source: XE news feed XE Market Analysis: Investors Play Safe Despite A Return to Market Calmness

XE Market Analysis: North America – Aug 09, 2019

Sterling came under pressure following data showing an unexpected 0.2% q/q contraction in preliminary UK Q2 GDP, which saw Cable match the 27-month low seen last week at 1.2079, while the UK currency printed a fresh 24-month low against the Euro. EUR-USD, meanwhile, continued to orbit the 1.1200 level, despite some bearish Euro leads, with… Read more »

XE Market Analysis: Europe – Aug 09, 2019

The Dollar majors have been trading narrowly, with the main pairings holding within yesterday’s ranges. This follows what has been a pretty volatile week, which has seen the Yen hit major trend highs against many currencies in a safe-haven driven move, before steadying concomitantly with a breakout of relative calmness in global stock markets following… Read more »

XE Market Analysis: Asia – Aug 08, 2019

The Dollar moved marginally higher in early N.Y. trade on Thursday, taking the DXY to 97.74 highs.The index later eased lower, bottoming at 97.46 after the London close. On the data front, jobless claims were slightly lower than expected, while wholesale sales were a but weaker than forecasts. Neither release had much impact on the… Read more »