Category: Financial Markets

Financial markets news from external sources.

XE Market Analysis: North America – Feb 20, 2020

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

XE Market Analysis: Europe – Feb 20, 2020

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

XE Market Analysis: Asia – Feb 19, 2020

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

XE Market Analysis: North America – Feb 19, 2020

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

XE Market Analysis: Europe – Feb 19, 2020

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

XE Market Analysis: Asia – Feb 18, 2020

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

XE Market Analysis: North America – Feb 18, 2020

The yen and Swiss franc firmed as risk-off positioning took a grip after Apple warned that it would missed Q1 revenue guidance, pointing to a slow rebound in factory output in China and forcing a rethinking on the likely impact that the measures being taken to stem contagion of the coronavirus have been having. Regional… Read more »

XE Market Analysis: Europe – Feb 18, 2020

The yen and Swiss franc firmed as risk-off positioning took a grip after Apple warned that it would missed Q1 revenue guidance, pointing to a slow rebound in factory output in China and forcing a rethinking on the likely impact that the measures being taken to stem contagion of the coronavirus have been having. Regional… Read more »

XE Market Analysis: North America – Feb 17, 2020

The dollar and most other currencies have been stable in quiet early-week trading so far. This came with the main Chinese equity indices posting 2%-plus gains after China’s Finance Minister said on Sunday that Beijing would roll out targeted and phased tax and fee cuts and with the PBoC lowering one of its interest rates… Read more »

XE Market Analysis: Europe – Feb 17, 2020

The dollar and most other currencies have been stable in quiet early-week trading so far. This came with the main Chinese equity indices posting 2%-plus gains after China’s Finance Minister said on Sunday that Beijing would roll out targeted and phased tax and fee cuts and with the PBoC lowering one of its interest rates… Read more »

XE Market Analysis: Asia – Feb 14, 2020

The DXY printed its ninth-straight higher daily high on Friday, though eased back through the session on profit taking activity. Incoming U.S. data saw in-line retail sales and industrial production, slightly firmer than expected import prices and a better than expected University of Michigan consumer sentiment index. EUR-USD peaked at 1.0862 before pulling back under… Read more »

XE Market Analysis: North America – Feb 14, 2020

The dollar posted fresh highs against the euro and Swiss franc, while most other pairings remained steady, within ranges seen on Thursday. EUR-USD printed a fresh 34-month low at 1.0827, and is set for its biggest two-week loss since July 2019. The new low is the product of a prevailing phase of euro underperformance, which… Read more »

XE Market Analysis: Europe – Feb 14, 2020

The euro posted fresh lows against the dollar and other currencies, while both the safe haven yen and Swiss franc lost yesterday’s bid as the daily increment of new coronavirus cases in China fell back alongside narratives that are downplaying yesterday’s jump in total reported cases in Hubei province as being just a reclassification. EUR-USD… Read more »

XE Market Analysis: Asia – Feb 13, 2020

The Dollar was mostly higher in N.Y. on Thursday, with in-line CPI and lower than expected jobless claims driving the DXY to fresh four-month highs. Risk-off conditions helped the USD as well, following news overnight that the number of China virus case was revised sharply higher, with safe-haven flows supporting. Wall Street struggled though manage… Read more »

XE Market Analysis: North America – Feb 13, 2020

The yen and Swiss franc rose as a risk-off sentiment once again took hold in global markets following news of sharp increase in coronavirus cases. That the rise in cases was the product of a new methodology for counting infections, lowering the bar in what counts for an infection by using a tomography scan rather… Read more »

XE Market Analysis: Europe – Feb 13, 2020

The yen and Swiss franc rose as a risk-off sentiment once against took hold in global markets following news of sharp increase in coronavirus cases. That the rise in cases was the product of a new methodology for counting infections, lowering the bar in what counts for an infection by using a tomography scan rather… Read more »

XE Market Analysis: Asia – Feb 12, 2020

After stumbling some on Tuesday, the Dollar index headed to fresh four-month highs in N.Y. trade on Wednesday. The USD remains firm, largely due to an outperforming U.S. economy. Risk-on conditions prevailed through the session, taking major U.S. equity indices to or near record highs. Wall Street gains came with mostly better earnings reports, along… Read more »

XE Market Analysis: North America – Feb 12, 2020

The yen remained soft while the dollar bloc currencies outperformed as risk appetite in global markets held up. A reported dip in new coronavirus cases in China has been tonic for investors. Against this backdrop, USD-JPY lifted to a three-week high at 110.13 after breaching Tuesday’s high at 109.96. AUD-JPY, now in its third consecutive… Read more »

XE Market Analysis: Europe – Feb 12, 2020

The yen remained soft while the dollar bloc currencies extended recent gains as risk appetite in global markets held up, with a reported dip in new coronavirus cases in China being tonic for investors. Wall Street yesterday saw fresh record highs, while the MSCI Asia-Pacific equity index rose by another 1% today. U.S. and European… Read more »

XE Market Analysis: Asia – Feb 11, 2020

The Dollar rallied in early N.Y. trade, later giving back gains to end the session slightly under water. The DXY printed new four-month highs of 98.94, before falling back to 98.72 lows. EUR-USD was pushed under the 1.09 mark for the first time since October, later heading toward 1.1025. USD-JPY rallied to 109.97 early, later… Read more »

XE Market Analysis: North America – Feb 11, 2020

The dollar has consolidated gains seen on Friday following the robust employment report out of the U.S. The coronavirus death toll surpasses that for the SARS outbreak of 2002-2, and there remains as yet little concrete sign that the rate of spread of the virus is abating, which has fed a sputtering price action in… Read more »

XE Market Analysis: Europe – Feb 11, 2020

The yen has weakened, and the Australian dollar has lifted, reflecting global markets taking a positive view of the ultimate spread and economic impact of the coronavirus outbreak, despite the the World Health Organization warning that the spread of the virus among those who had not been to China could be “the spark that becomes… Read more »

XE Market Analysis: Asia – Feb 10, 2020

The Dollar was mostly firmer in N.Y. trade on Monday, taking the DXY to fresh trend highs of 98.88, levels last seen on October 10. There was no incoming data to move the market, though last Friday’s strong employment report continued to resonate with FX traders. EUR-USD fell to four-plus month lows of 1.0909, from… Read more »

XE Market Analysis: North America – Feb 10, 2020

The dollar has consolidated gains seen on Friday following the robust employment report out of the U.S. The coronavirus death toll surpasses that for the SARS outbreak of 2002-2, and there remains as yet little concrete sign that the rate of spread of the virus is abating, which has fed a sputtering price action in… Read more »

XE Market Analysis: Europe – Feb 10, 2020

Narrow ranges have been prevailing for the most part in early week trading among the main currencies, though the Australian dollar managed a near 0.5% gain, rebounding after hitting an 11-year low against the U.S. dollar on Friday. AUD-USD posted a high at 0.6707, which retraced just over half of the decline seen on Friday…. Read more »

XE Market Analysis: Asia – Feb 07, 2020

Another day, another Dollar rally, taking the DXY to a new four-month peak. The index printed higher daily highs four days running this week, with gains largely coming on the back of solid incoming U.S. data, culminating with a strong January jobs report on Friday. Wall Street lost ground, likely on profit taking into the… Read more »

XE Market Analysis: North America – Feb 07, 2020

The yen rallied amid rekindling safe haven demand amid the unrelenting rise and spread in coronavirus cases, which has hampering economic activity across China and Asia as a consequence of the measures being taken to tamp down the pandemic. S&P 500 futures dropped by 0.5%, correcting after the cash version of the index hit a… Read more »

XE Market Analysis: Europe – Feb 07, 2020

The dollar has remained broadly underpinned following the round of solid U.S. data releases on Thursday, including upbeat consumer confidence and a stabilization in manufacturing after passage of the trade deals. This along with and massive liquidity injections from China helped boost equities, and sent Wall Street and European markets to record highs yesterday, despite… Read more »

XE Market Analysis: Asia – Feb 06, 2020

The DXY rallied to near four-month highs of 98.57 in N.Y. trade on Thursday, continuing to be driven higher by mostly outperforming U.S. economic data. Friday’s January employment report will be key going into the weekend, where risk to the NFP print would appear to be to the upside following sharp gains revealed by the… Read more »

XE Market Analysis: North America – Feb 06, 2020

The yen posted fresh lows versus the dollar and Australian dollar, among some other currencies, as global stock markets continued to rally at an accelerated pace. China announced it will halve tariffs on some U.S. imports, in accordance with the phase-1 trade deal. Reports of progress in finding a vaccine against the coronavirus has been… Read more »

XE Market Analysis: Europe – Feb 06, 2020

The yen posted fresh lows versus the dollar and Australian dollar, among some other currencies, as global stock markets continued to rally at an accelerated pace. China announced it will halve tariffs on some U.S. imports, in accordance with the phase-1 trade deal. Reports of progress in finding a vaccine against the coronavirus has been… Read more »

XE Market Analysis: Asia – Feb 05, 2020

A strong ADP employment report supported the Dollar through the N.Y. session on Wednesday, taking the DXY to two-month highs of 98.29 from 97.91 overnight lows. A better than expected services ISM added to the USD’s bid tone. Wall Street and Treasury yields moved higher as well. EUR-USD dipped to 109.95 lows from near 1.1025,… Read more »

XE Market Analysis: North America – Feb 05, 2020

The dollar has traded mixed while the yen has softened against most currencies amid a backdrop of rallying global stock markets. USD-JPY printed a two-week high at 109.72, extending the rebound from the four-week low seen last Friday at 108.30. The prevailing dominant view is that the coronavirus and its impact will be temporary while… Read more »

XE Market Analysis: Europe – Feb 05, 2020

The main currencies have been trading in narrow ranges amid a backdrop of cautious bullishness in global markets (on the view that the coronavirus and its impact will be temporary while the stimulus efforts by China will have a positive impact), though some Asian currencies have continued to tumble. One notable mover has been the… Read more »

XE Market Analysis: Asia – Feb 04, 2020

The Dollar headed mostly higher in N.Y. trade on Tuesday. The DXY touched four-session peak of 98.00. Incoming data had better than expected factory orders, which gave the USD a modest boost. Risk-on conditions prevailed, with Wall Street rallying sharply following gains in China equities, which came following the second day of PBoC stimulus injections…. Read more »

XE Market Analysis: North America – Feb 04, 2020

USD-JPY lifted to a two-day high at 109.13 amid a backdrop of rebounding global equity markets, which has seen some of the yen’s safe haven premium unwind. Stimulus efforts by Beijing, coupled with widespread efforts to stem the contagion of the coronavirus have been feeding a revival in investor spirits. China’s state-backed Securities Times published… Read more »

XE Market Analysis: Europe – Feb 04, 2020

The dollar has traded mostly firmer and the yen mostly softer amid a backdrop of rebounding global equity markets. China’s CSI equity index managed a 2.6% gain, recouping about a third of the steep, post-holiday losses seen yesterday. European and U.S. index futures are showing gains of around 0.4-0-5%, too, which follows a positive close… Read more »

XE Market Analysis: Asia – Feb 03, 2020

The Dollar was a bit higher in N.Y. trade on Monday, helped by a much better than expected January manufacturing ISM report. The headline rose above the 50.0 boom/bust line for the first time in five months. Stocks and yields were higher on the session, despite ongoing coronavirus fears. EUR-USD fell to 1.1037 from opening… Read more »

XE Market Analysis: North America – Feb 03, 2020

The yen steadied today after a phase of outperformance amid the backdrop of risk aversion in global markets. Chinese markets reopened from their one-week-plus hiatus and stock markets there duly dove in catch-up trading. The CSI 300 finished with a 7.9% loss, while the MSCI Asia-Pacific index declined by 0.9% in what is now an… Read more »

XE Market Analysis: Europe – Feb 03, 2020

The dollar has traded moderately firmer, in context of overall narrow ranges among the main currencies. Chinese markets reopened from their one-week-plus hiatus and stock markets there duly dove in catch-up trading. The CSI 300 finished with a 7.9% loss, while the MSCI Asia-Pacific index declined by 0.9% in what is now an eighth consecutive… Read more »

XE Market Analysis: Asia – Jan 31, 2020

The Dollar index fell to nine-session lows of 97.40 in N.Y. on Friday, down from overnight highs of 97.97. Incoming data was mostly USD negative, as person income, and Chicago PMI outcomes missed the mark, while Michigan sentiment was better than forecasts. Coronavirus fears remained solidly in place, crushing Wall Street and Treasury yields. Risk-sensitive… Read more »

XE Market Analysis: North America – Jan 31, 2020

The yen lifted as risk aversion re-emerged during the London morning after a somewhat non-committal session in Asia. European stock markets came under pressure while S&P 500 futures racked up a loss of over 0.5%. The UK reported its first test-positive cases of the novel coronavirus, and increasingly draconian measures are being announced in attempts… Read more »

XE Market Analysis: Europe – Jan 31, 2020

Risk-off positioning in currencies came to an uncertain pause, amid a backdrop of sputtering stock markets amid continuing concerns about the spread of the coronavirus in and out of China, and the economic-damaging impact that efforts to contain the contagion is having. USD-JPY edged out a two-day high as the Japanese currency saw some of… Read more »

XE Market Analysis: Asia – Jan 30, 2020

After printing six-consecutive higher daily highs, the DXY pulled back some in N.Y. trade on Thursday. The Greenback perked up slightly following the in-line U.S. GDP and jobless claims outcomes, though headed mostly lower from there. Month-end related USD selling was noted, though coronavirus related save-haven flows into the Dollar, should limit downside going forward…. Read more »

XE Market Analysis: North America – Jan 30, 2020

Risk-of positioning has driven the yen and Swiss franc higher while weighing on the dollar bloc and many developing-world currencies. Reported cases of the coronavirus outbreak continues to rise, and the economic consequences of the measures being taken to limit the contagion (extended Chinese holiday, drastic cuts in travel, among others), have dominated in market… Read more »

XE Market Analysis: Europe – Jan 30, 2020

Risk-of positioning has driven the yen and Swiss franc higher while weighing on the dollar bloc and many developing-world currencies. Reported cases of the coronavirus outbreak continues to rise, and the economic consequences of the measures being taken to limit the contagion (extended Chinese holiday, drastic cuts in travel, among others), have dominated in market… Read more »

XE Market Analysis: Asia – Jan 29, 2020

FX trade was quiet ahead of the FOMC announcement, with narrow ranges holding for the major USD pairings. The dollar firmed up ever so slightly following the Fed announcement, where there were no changes to policy, as widely expected. USD-JPY edged to session highs of 109.25 from just under 109.20, as EUR-USD dipped to 1.0998… Read more »

XE Market Analysis: North America – Jan 29, 2020

The yen and Swiss franc settled at softer levels amid a paring back in risk-off positioning. Markets are monitoring the coronavirus situation closely, and have found some comfort from the increasingly extensive efforts of China and other nations to contain its spread. The World Health Organization will be holding a press conference at 14:00 GMT… Read more »

XE Market Analysis: Europe – Jan 29, 2020

The yen and Swiss franc have settled at softer levels amid a paring back in risk-off positioning. Markets are monitoring the coronavirus situation closely, and have found some comfort from the increasing extensive efforts of China and other nations to contain its spread. Equity markets on Wall Street yesterday, and Asian bourses today, have managed… Read more »

XE Market Analysis: Asia – Jan 28, 2020

The DXY printed near two-month highs of 98.25 in N.Y. trade on Tuesday, with the Dollar finding support on solid incoming U.S. data. Durable orders rose more than expected, while consumer confidence printed better than consensus forecasts as well. The markets took a break from coronavirus panic, allowing Wall Street and Treasury yields to rise,… Read more »

XE Market Analysis: North America – Jan 28, 2020

The yen has rebounded during the London morning session after softening in Asia, though remains below highs seen yesterday. Risk-off positioning has cooled off, though investor sentiment clearly remains wary, faced with the epistemological “known unknown” conundrum of how bad and how widespread, and how economically damaging, will the prevailing outbreak of the coronavirus stemming… Read more »

XE Market Analysis: Europe – Jan 28, 2020

The yen and Swiss franc softened, paring some of the safe-haven premiums built up in recent sessions, as the pace of risk-off positioning came off the boil, with Asian stock markets managing to pare intraday losses, although remaining well in the red. S&P 500 futures also managed to rebound by 0.6% after the cash version… Read more »

XE Market Analysis: Asia – Jan 27, 2020

The Dollar was mostly higher in N.Y. trade on Monday, with gains driven by noted save-haven flows. The uncertainty of the coronavirus threat took U.S. Treasuries sharply higher, while weighing on other risk assets such as oil. Wall Street turned deep into the red, following the path of global equities seen overnight. Incoming data was… Read more »

XE Market Analysis: North America – Jan 27, 2020

Safe-have currencies rose while currencies with a higher beta characteristic, including the dollar block units and developing-world currencies, underperformed. This came amid fears that the coronavirus is growing, with both the number and geographical spread of reported cases increasing, along with evidence that the virus is mutating and more aggressive than the SARS outbreak in… Read more »

XE Market Analysis: Europe – Jan 27, 2020

Risk-off has taken a grip amid fears that the coronavirus is going likewise, with both the number and geographical spread of reported cases increasing, along with evidence that the virus is mutating and more aggressive than the SARS outbreak in 2003. Market conditions were thinned in Asia with China and Hong Kong, along with South… Read more »

XE Market Analysis: Asia – Jan 24, 2020

The Dollar and Yen rallied modestly in N.Y. trade on Friday, with safe-haven buying the main driver into the weekend. Nerves were ramped up some as the coronavirus outbreak appeared to have worsened. More cities on lockdown in China, along with reports that a second U.S. case was identified, saw stocks and Treasury yields tumble…. Read more »

XE Market Analysis: North America – Jan 24, 2020

The yen has steadied at softer levels. There was a general lack of direction in Asian markets while European stock markets and U.S. index futures posted gains. China, Taiwan and South Korea markets were closed for Lunar New Year holidays, with the former two now closed through to the end of next week. Markets are… Read more »

XE Market Analysis: Europe – Jan 24, 2020

Narrow ranges have been seen in currency markets in sympathy with directionless trading in stocks and other markets. China, Taiwan and South Korea markets were closed for Lunar New Year holidays, with the former two now closed through to the end of next week. Markets have hunkered down, waiting to see how well China and… Read more »

XE Market Analysis: Asia – Jan 23, 2020

The Dollar index touched one-month highs of 97.80 in N.Y. trade on Thursday, though major USD pairings were mixed overall. EUR-USD pulled back to 1.1036 in morning trade, weighed by an ECB meeting which indicated no end in sight to the ultra-easy policy stance. USD-JPY fell to two-week lows of 109.26 as risk-off conditions prevailed,… Read more »

XE Market Analysis: North America – Jan 23, 2020

Sentiment remained fickle, with a 3%-plus dive in China’s bellwether leading a sharply risk-off session in Asia markets, while the mood during in European markets was more measured, with the main indices, and U.S. index futures, holding near flat. This backdrop saw the yen and Swiss franc rally to fresh highs before both currencies settled…. Read more »

XE Market Analysis: Europe – Jan 23, 2020

The yen rallied as Asian stock markets dropped quite sharply, led by a 3%-plus plunge in China’s bellwether CSI 300 index amid concerns about contagion (and mutation) of the coronavirus, with concerns remaining, despite Beijing’s best efforts, that the upcoming Lunar New Year holiday period will accelerate its spread. USD-JPY dropped to a 10-day low… Read more »

XE Market Analysis: Asia – Jan 22, 2020

The FX market remained quiet in N.Y. on Wednesday, leaving most Dollar pairings little changed. The DXY was lifted slightly in early trade, later giving back its gains. Wall Street was choppy, though higher through the day. Treasury yields pulled back slightly, on a bit of residual sage-haven flows on the back of the coronavirus… Read more »

XE Market Analysis: North America – Jan 22, 2020

The dollar has traded mostly firmer amid a fickle sentiment backdrop in global markets, which turning more cautious in Europe after a bullish session across Asian stock markets, which had been fostered by the swift and transparent response of China to the coronavirus outbreak. Some market commentaries have been highlighting that this contrasts to Beijing’s… Read more »

XE Market Analysis: Europe – Jan 22, 2020

The dollar has traded steady-to-firmer amid a revival in risk appetite in global markets, brought about by the swift and transparent response of China to the coronavirus outbreak. Some market commentaries have been highlighting this contrasts to Beijing’s initial cover-up of the SARS outbreak back in 2003. This underpinned stock markets in Asia while pushing… Read more »

XE Market Analysis: Asia – Jan 21, 2020

FX Action was light in N.Y. on Tuesday, with no data to drive the Dollar. Risk taking levels were fairly neutral, though Wall Street lost ground on corona virus fears, and Treasury yields were a bit lower. The USD slipped some ahead of the open, weighed down by a better German ZEW outcome, and improved… Read more »

XE Market Analysis: North America – Jan 21, 2020

The yen has attracted safe-haven demand amid rising concerns about the strain of coronavirus in China, which are being exacerbated by the approaching Lunar New Year holiday period in China, a period of heightened people travelling that risks accelerating the spread of contagion. If things turn critical, airlines and tourism would be at the forefront… Read more »

XE Market Analysis: Europe – Jan 21, 2020

The biggest mover has been a decline in AUD-JPY in the main currency markets so far today, with the cross proving most sensitive to rising concerns about the strain of coronavirus in China, which are being exacerbated by the approaching Lunar New Year holiday period in China, a period of heightened people travelling that risks… Read more »

XE Market Analysis: North America – Jan 20, 2020

All quiet on the forex front, with the dollar majors and associated crosses rates plying narrow ranges so far. More of the same looks likely in the absence of U.S. market participants today. EUR-USD edged out a 25-day low at 1.1082 after breaching Friday’s low at 1.1085. The high-low range has still been no more… Read more »

XE Market Analysis: Europe – Jan 20, 2020

The dollar has seen modest weakness in quiet early-week trading. Volumes are likely to remain on the low side today with U.S. markets closed for the Martin Luther King holiday. Stock markets in Asian remained buoyant after bellwether indices in the U.S. and Europe hit record highs on Friday. Source: XE news feed XE… Read more »

XE Market Analysis: Asia – Jan 17, 2020

The Dollar rallied some to end the week in N.Y. on Friday, taking the DXY to highs of 2020. The index topped at 97.65, levels last seen on December 26. Incoming data saw housing starts rise sharply, while industrial production was a bit lighter than consensus, and U. of Michigan sentiment missed the mark slightly…. Read more »

XE Market Analysis: North America – Jan 17, 2020

The yen posted fresh lows once again as risk appetite continued to course through global markets. The MSCI all-country world equity index touched fresh record highs, even though Chinese markets sputtered somewhat. An above-forecast 6.9% y/y rise in China’s industrial production helped maintain the risk-on times, which followed a solid round of U.S. data releases… Read more »

XE Market Analysis: Europe – Jan 17, 2020

The yen posted fresh lows once again as risk appetite continue to course through global markets. The MSCI all-country world equity index touched fresh record highs earlier, even though Chinese markets have sputtered somewhat and momentum appears to have waned a little. An above-forecast 6.9% y/y rise in China’s industrial production helped maintain the risk-on… Read more »

XE Market Analysis: Asia – Jan 16, 2020

The Dollar gained in N.Y. trade on Thursday, supported by better than expected incoming U.S. data. Retail sales, jobless claims, and the Philly Fed index all beat consensus forecasts. Wall Street surged to fresh record highs, while Treasury yields edged higher. The DXY recovered from seven session lows of 97.08 seen ahead of the open,… Read more »

XE Market Analysis: North America – Jan 16, 2020

Both the dollar and yen traded softer versus most other currencies, particularly against the Swiss franc. Equity markets have turned somewhat flat after the MSCI all-country world index edged out a fresh record following the signing of the phase-1 trade deal between the U.S. and China. While concerns remain about the deal itself, and future… Read more »

XE Market Analysis: Europe – Jan 16, 2020

Narrow ranges have prevailed so far today, with the dollar consolidating after edging lower in recent sessions following the misses in December jobs and CPI data out of the U.S. EUR-USD plied a narrow range under the eight-day high seen yesterday at 1.1163. USD-JPY posted less than a 15-pip range so far today, capped on… Read more »

XE Market Analysis: Asia – Jan 15, 2020

The DXY fell to six-session lows of 97.16, down from overnight lows of 97.44. Cooler U.S. PPI numbers weighed on the USD, though narrow trading ranges were again the rule through the session. The signing of the phase one U.S./China trade deal supported risk-on conditions, which pushed Wall Street to fresh record highs. Treasury yields… Read more »

XE Market Analysis: North America – Jan 15, 2020

The dollar has been trading with an overall downward tilt, while the yen has posted gains amid a reversal in risk-on positioning on news that U.S. tariffs on Chinese goods would remain in place until the completion of the second phase of the trade agreement with China. The U.S. government was also reported to increase… Read more »

XE Market Analysis: Europe – Jan 15, 2020

The yen has firmed up amid trimming of risk-on positioning in global markets after U.S. Treasury Secretary Mnuchin said late yesterday that tariffs on Chinese goods would remain in place until the completion of the second phase of the U.S.-China trade agreement. The U.S. government was also reported to be near publication of a rule… Read more »

XE Market Analysis: Asia – Jan 14, 2020

The Dollar was on a marginally softer footing in N.Y. trade on Tuesday, though narrow ranges were pretty much the rule. U.S. December CPI was a tenth cooler on the core reading, though had little impact on the FX market, though Treasury yields moved lower, and Wall Street was mixed. Wednesday’s U.S. calendar features December… Read more »

XE Market Analysis: North America – Jan 14, 2020

The yen posted fresh lows before rebounding a little, as the global stock market rally started to flag ahead of tomorrow’s signing of the U.S.-China phase-1 trade deal. USD-JPY posted a new trend high at 110-21, the first time the pair has traded above 110.00 since last May, before receding to the upper 109.00s. Yen… Read more »

XE Market Analysis: Europe – Jan 14, 2020

A fresh injection of risk-on trading saw the yen decline further, while most Asian stock markets continued to rally. China reported its first y/y increase in exports in five months, of 7.6%, which beat the consensus forecast for 3.2% growth, while a source cited by Reuters said that Beijing has pledged to buy an addition… Read more »

XE Market Analysis: Asia – Jan 13, 2020

The Dollar turned modestly lower overall in N.Y. on Monday, though remains near the top of its January trading range. There was no data to drive direction, though a generally risk-on backdrop saw some USD safe-haven outflows. Wall Street moved to fresh record highs, while Treasury yields moved higher as well. The U.S./Iran threat appears… Read more »

XE Market Analysis: North America – Jan 13, 2020

Both the yen and the pound underperformed notably, while the dollar traded mixed. USD-JPY punched above the early-December 109.72 high on route to printing an eight-month high at 109.92. EUR-JPY concurrently hit a two-week high, and AUD-JPY an 11-day peak. The new highs reflected an extension in yen underperformance amid a backdrop of rallying global… Read more »

XE Market Analysis: Europe – Jan 13, 2020

Sterling has taken a turn lower in early week trading, with markets reacting to both dovish BoE-speak and to a report from the UK’s Institute for Government finding that it will be impossible to deliver the computer systems for the special arrangements for Northern Ireland’s border by the end of the year. Prime minister Johnson… Read more »

XE Market Analysis: Asia – Jan 10, 2020

A softer U.S. December employment report dented the Dollar in N.Y. trade on Friday, as a miss in both non-farm payrolls and earnings weighed. There was some pre-weekend paring of long Dollar positions in play as well. Markets calmed some, as Iran and the U.S. appeared to pull back from the brink following tit-for tat… Read more »

XE Market Analysis: North America – Jan 10, 2020

The dollar has been trading mostly steady-to-firmer against most currencies, although losing ground to the Australian dollar. USD-JPY, now in its fifth consecutive up day, printed a fresh two-week high at 107.65, which is just 7 pips shy of the seven-month high that was seen in early December. EUR-JPY lifted to an eight-day high, and… Read more »

XE Market Analysis: Europe – Jan 10, 2020

The yen posted fresh lows as global stock markets hit new record highs, while the likes of the Australian dollar and many developing-nation currencies rallied. USD-JPY, now in its fifth consecutive up day, printed a fresh two-week high at 107.60, which is just 12 pips shy of the seven-month high that was seen in early… Read more »

XE Market Analysis: Asia – Jan 09, 2020

The Dollar rallied again on Thursday, so far this year bouncing from steep year-end losses seen last month. The U.S. economic outlook, along with the USD interest rate differential advantage has been a driver of USD strength so far in 2020. Looking ahead, economics, geopolitics and later, the U.S. presidential election in November will impact… Read more »

XE Market Analysis: North America – Jan 09, 2020

The dollar has traded mostly firmer, posting two-week highs versus the euro and pound, a 10-day peak versus the yen, a nine-day high against the Canadian dollar, a 16-day peak relative to the New Zealand dollar. Unwinding risk-off premiums supported USD-JPY, while dovish remarks from BoE Governor Carney weighed on Cable, and, indirectly, EUR-USD, and… Read more »

XE Market Analysis: Europe – Jan 09, 2020

The yen continued to decline concomitantly with a recovery stock markets after President Trump took the off-ramp offered him by Iran. Tehran’s missile strikes, having caused no casualties, was termed by the foreign ministry to have “concluded” Tehran’s response. Trump duly claimed “victory” while public anger in Iran over Soleimani’s assassination has ebbed, and investors… Read more »

XE Market Analysis: Asia – Jan 08, 2020

The Dollar firmed in N.Y. trade on Wednesday, helped by a stronger than expected December ADP jobs report, along with safe-haven USD buying following the Iran missile attack on U.S. bases in Iraq. Trump later spoke, saying Iran appears to be “standing down”. Wall Street rallied on the deescalation talk, while Treasury yields rose, supportive… Read more »

XE Market Analysis: North America – Jan 08, 2020

The yen surged and then sharply more than unwound gains in volatile trading during morning trading in Tokyo. The rally in the Japanese currency was part of a broader dash for safe haven assets and currencies following news that Iran had fired missiles at two U.S. bases in Iraq. The U.S. Source: XE news… Read more »

XE Market Analysis: Europe – Jan 08, 2020

The yen surged and then sharply unwound gains in volatile trading during morning trading in Tokyo. The rally in the Japanese currency was part of a broader dash for safe haven assets and currencies following news that Iran had fired missiles at two U.S. bases in Iraq. The U.S. reported no casualties, and President Trump’s… Read more »

XE Market Analysis: Asia – Jan 07, 2020

The Dollar was higher in N.Y. trade on Tuesday, taking the DXY to highs of the week at 97.09 from opening levels near 96.73. Safe-haven USD buying was a feature through the session, driven by the nervous geopolitical backdrop. A much stronger services ISM helped support the Greenback as well. Wall Street was mixed, while… Read more »

XE Market Analysis: North America – Jan 07, 2020

The dollar has traded mostly firmer, retracing losses seen yesterday by varying degrees. The narrow trade-weighted USD index (DXY) rebounded about half of the drop it saw yesterday in lifting back above 96.80, while EUR-USD concurrently ebbed back under the 1.1200 level. The biggest has been AUD-USD, with the Australian dollar underperforming notably, despite global… Read more »

XE Market Analysis: Europe – Jan 07, 2020

The Australian dollar has remained under pressure, despite global stock markets having taken a turn higher as markets reappraise the U.S. versus Iran stand off. A Caixin report saying that China will not increase its annual low-tariff import quotas for U.S. agricultural produce raised doubts with regard to the yet-to-be-signed “phase-1” trade deal. There was… Read more »

XE Market Analysis: Asia – Jan 06, 2020

The Dollar rallied modestly through the N.Y. session on Monday, with gains driven by safe-haven buying. The worsening geopolitical backdrop should limit USD downside for the time being, as traders brace for retaliation from Iran, and potential for further escalation. Wall Street opened sharply lower, though managed to recover a good chunk of early losses… Read more »

XE Market Analysis: North America – Jan 06, 2020

The yen posted fresh highs as stock markets continued to fall in Asia with market participants fretting about upscaling risks for a deepening conflict between the U.S. and Iran. President Trump threatened “major retaliation” if Iran responded to the U.S. assassination of one of Iran’s top generals, while Tehran vowed to expel the U.S. from… Read more »

XE Market Analysis: Europe – Jan 06, 2020

The yen posted fresh highs as stock markets continued to fall in Asia with market participants fretting about upscaling risks for a deepening conflict between the U.S. and Iran. President Trump threatened “major retaliation” if Iran responded to the U.S. assassination of one of Iran’s top generals, while Tehran vowed to expel the U.S. from… Read more »

XE Market Analysis: Asia – Jan 03, 2020

The Dollar and Yen rallied some overnight on Friday, supported by safe-haven buying following the U.S. drone strike in Iraq, which killed a top Iranian general. The USD later gave back gains as the initial fears of immediate Iran reprisal faded, the U.S. manufacturing ISM was much weaker than expected, and as positions were unwound… Read more »