Category: Financial Markets

Financial markets news from external sources.

XE Market Analysis: Asia – Dec 18, 2020

The Dollar ended the week on a firmer footing, after having a pretty tough week overall. The DXY bounced from 89.83 seen at the open, to a high of 90.13 in late morning. USD short covering was the likely driver of the move, as positions were pared into the weekend, and the Christmas shortened week… Read more »

XE Market Analysis: North America – Dec 18, 2020

The dollar has found its feet, concomitantly with global equity markets coming off the boil. Some market narratives have pinned this on news that Pfizer will under-deliver vaccine doses to the U.S. next week, though the Moderna vaccine will reportedly win FDA approval today. News that the U.S. is blacklisting more Chinese companies has been… Read more »

XE Market Analysis: Europe – Dec 18, 2020

The dollar has found its feet, concomitantly with global equity markets coming off the boil. Some market narratives have pinned this on news that Pfizer will under-deliver vaccine doses to the U.S. next week, though the Moderna vaccine will reportedly win FDA approval today. News that the U.S. is blacklisting more Chinese companies has been… Read more »

XE Market Analysis: Europe – 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. Commodities gained, with Brent oil prices posting new nine-month highs above $51.00, while base metals rallied, although prices remained off recent trend highs. Against this backdrop, the DXY dollar… Read more »

XE Market Analysis: Asia – Dec 11, 2020

The Dollar bounced modestly in overnight trade, and for the most part, held those gains through the N.Y. session on Friday. Ranges remained relatively narrow, however, into the weekend. The DXY moved from 90.62 in London morning trade, later topping at 92.04 into the open. Incoming data saw core November PPI a bit on the… Read more »

XE Market Analysis: North America – Dec 11, 2020

The dollar rallied out of intraday lows as European stock markets and U.S. equity futures turned quite sharply lower. Asian markets fared better, while base metals and oil prices slipped. The risk of a no-deal outcome between the EU and UK in the Brexit endgame has risen markedly, while in the U.S. Democrat House Speaker… Read more »

XE Market Analysis: Europe – Dec 11, 2020

The dollar has softened against most currencies, with most stock markets, and oil prices, rising in Asia, although overall risk appetite in global markets is relatively more subdued compared to recent times. Base metal prices are below trend highs, and European and U.S. equity index futures are flat or modestly lower. The risk of a… Read more »

XE Market Analysis: Asia – Dec 10, 2020

The Dollar was mostly lower in N.Y. on Thursday, dented early on by worse than expected initial and continuing jobless claims. The DXY fell from 91.15 into the open, later bottoming at 90.67 before recovering modestly. The only other data point was November CPI which came in a touch warmer than consensus. Wall Street was… Read more »

XE Market Analysis: North America – Dec 10, 2020

The pound underperformed while the dollar bloc outperformed, and the DXY dollar index lifted to a three-day low. Yen weakness was another theme, with USD-JPY rising to eight-day highs above 104.50, and AUD-JPY and CAD-JPY pushing to respective three- and six-month highs. Source: XE news feed XE Market Analysis: North America – Dec 10,… Read more »

XE Market Analysis: Europe – Dec 10, 2020

Sterling is under pressure after three hours of “lively and interesting” talks between UK PM Johnson and the European Commission President von der Leyen, and their chief negotiators, last night failed to find a way round “significant obstacles.” Talks will continue, and a new deadline has been set for Sunday, with the leaders promising that… Read more »

XE Market Analysis: Asia – Dec 09, 2020

The Dollar found some traction in N.Y. on Wednesday, seeing the DXY peak at 91.20, up from 90.77 early in the session. A soggy risk backdrop provided some support to the USD, following more than a month of surging global equity markets, which weighed heavily on the Greenback during that time. The Dollar may continue… Read more »

XE Market Analysis: North America – Dec 09, 2020

The dollar and yen have traded softer against most other currencies as risk appetite picked back up. All three of the principal U.S. equity indices hit all time highs yesterday, with the S&P 500 and Nasdaq closing at record high levels. Their respective futures are showing moderate gains in overnight trading. The pan-Europe Stoxx 600… Read more »

XE Market Analysis: Europe – Dec 09, 2020

The dollar and yen have traded softer against most other currencies as risk appetite picked back up. All three of the principal U.S. equity indices hit all time highs yesterday, with the S&P 500 and Nasdaq closing at record high levels. Their respective futures are showing moderate gains in overnight trading. The MSCI Asia-Pacific (ex-Japan)… Read more »

XE Market Analysis: Asia – Dec 08, 2020

Overall, the Dollar was slightly firmer in N.Y. on Tuesday, though traded ranges were narrow, and activity muted. The DXY headed from early lows of 90.79 to a high of 91.01 at mid-morning. Aside from revised Q3 productivity and unit labor cost revisions, which were largely ignored, there was no market moving data released. Wall… Read more »

XE Market Analysis: North America – Dec 08, 2020

The pound has traded softer on Brexit anxiety, but not dramatically so and the currency has remained above lows seen yesterday against the dollar, euro and other currencies. Dollar pairings and cross rates have outside the involvement of sterling, remained directionally unvaried. Price action in global asset markets continued to reveal a level of risk… Read more »

XE Market Analysis: Europe – Dec 08, 2020

Sterling has traded softer on Brexit anxiety, but not dramatically so and the currency has remained above lows seen yesterday against the dollar, euro and other currencies. Dollar pairings and cross rates have outside the involvement of the pound, remained directionally unvaried. Price action in global asset markets continued to reveal a level of risk… Read more »

XE Market Analysis: Asia – Dec 07, 2020

The Dollar showed signs of a rally in overnight trade, though USD sellers quickly emerged at the N.Y. open, taking the DXY from 91.24 highs to 90.71 lows. Brexit uncertainty saw risk-taking levels sink, leaving Wall Street mostly lower, and Treasury yields under pressure. In addition, Covid worries remained, as cases and deaths in the… Read more »

XE Market Analysis: North America – Dec 07, 2020

The dollar and yen found their feet while the pound dropped sharply on no-deal Brexit anxiety, and the dollar bloc currencies put in a rotation lower amid a backdrop of risk-cautious sentiment in global markets. Global stock markets mostly traded lower, as did oil and other commodities. Regarding sterling, the currency shed over 1% against… Read more »

XE Market Analysis: Europe – Dec 07, 2020

Currency markets have been directionally uneventful, which is typical in early-week trading, especially in a December. The DXY dollar index has settled above the 32-month low see on Friday at 90.48. The nine-month dollar downtrend resumed over the last month after about a two month hiatus. We anticipate there is more to come in this… Read more »

XE Market Analysis: Asia – Dec 04, 2020

The DXY printed fresh 32-month lows of 90.48 in early N.Y. trade on Friday, posting its eighth-consecutive lower daily low in the process. Risk-on conditions prevailed, resulting in some USD selling, though the major driver of recent USD losses appeared to be Covid vaccine hopes, where widespread distribution over the next few months is expected… Read more »

XE Market Analysis: North America – Dec 04, 2020

The euro outperformed moderately during the London morning session, and was showing a 0.5% gain on the weakest of the main currencies, the Australian dollar. Both EUR-USD and EUR-JPY tested their respective 32- and three-month highs from yesterday, though neither the pair nor the cross exceeded these levels. Global asset markets remained buoyant, with European… Read more »

XE Market Analysis: Europe – Dec 04, 2020

Currencies have settled in relatively narrow ranges so far today, with the dollar and yen consolidating recent sharp declines. Global asset markets have remained buoyed, though mixed. The main U.S. equity indices hit fresh highs yesterday and copper prices today posted new near-seven-year highs today in Asia trading. South Korea’s KOPSI pegged a new record… Read more »

XE Market Analysis: Asia – Dec 03, 2020

Another day, another 32-month DXY low, as the Dollar continues to be hammered broadly. Negative real U.S. interest rates, along with prospects for another round of U.S. fiscal stimulus, along with hopes that the global economy will rebound quickly once Covid vaccines are widely available, have all conspired against the USD. Today’ incoming U.S. data… Read more »

XE Market Analysis: North America – Dec 03, 2020

The DXY dollar index posted a fresh 32-month low at 90.84. The index is amid its third consecutive down week, and the dollar has declined in four of the last five weeks. Global asset markets have come off the boil, and many market narratives are talking about the good news on Covid vaccines and the… Read more »

XE Market Analysis: Europe – Dec 03, 2020

The DXY dollar index posted a fresh 32-month year low at 90.93. The index is amid its third consecutive down week, and the dollar has declined in four of the last five weeks. Global asset markets have come off the boil, and many market narratives are talking about the good news on Covid vaccines and… Read more »

XE Market Analysis: Asia – Dec 02, 2020

The Dollar attempted to move higher through the London morning session, though again came under pressure through the N.Y. session. The DXY touched lows not seen since April of 2018, bottoming at 91.11, and down from opening highs of 91.50. USD losses came on the back of a largely disappointing ADP jobs report. Wall Street… Read more »

XE Market Analysis: North America – Dec 02, 2020

The dollar and yen have remained soft versus most other currencies, although caution emerged in global asset markets. EUR-USD broke higher over the last day and today extended to a new 32-month high at 1.2089. Demand for euros was notable yesterday, and followed eurozone inflation data for November that came in below expectations in posting… Read more »

XE Market Analysis: Europe – Dec 02, 2020

The dollar and yen have remained soft versus most other currencies, although some caution emerged in global asset markets after a fresh rally yesterday. EUR-USD broke higher over the last day and today extended to a new 32-month high at 1.2089. Demand for euros was notable yesterday, and followed eurozone inflation data for November that… Read more »

XE Market Analysis: North America – Dec 01, 2020

The dollar and yen came back under pressure as risk-on positioning in global markets resumed. Most of the main dollar pairings and cross rates remained with recent ranges, though NZD-JPY saw a new one-year high, even as NZD-USD remained just off the 30-month high that was seen yesterday. Cable briefly traded above 1.3400 for the… Read more »

XE Market Analysis: Europe – Dec 01, 2020

The dollar and yen came back under pressure as risk-on positioning in global markets resumed. Most of the main dollar pairings and cross rates remained with recent ranges, though NZD-JPY saw a new one-year high, even as NZD-USD remained just off the 30-month high that was seen yesterday. The MSCI Asia-Pacific (ex-Japan) equity index rose… Read more »

XE Market Analysis: Asia – Nov 30, 2020

After fading in early N.Y. trade on Monday, the Dollar rallied back. The DXY touched a 31-month low of 91.51 after the open, down from overnight highs of 91.75, before bouncing to 91.91 at mid-session. The safe-haven USD found support from a risk-off backdrop, while the earlier trend lows prompted some month-end Dollar short covering…. Read more »

XE Market Analysis: North America – Nov 30, 2020

The DXY dollar index clocked a 32-month low at 91.55, and is set to close out November with its second biggest monthly loss in almost two years. The decline has been concomitant with the vaccine-optimism rally in global asset markets, which catalysed a rotation in cyclical stocks and industrial commodities. The MSCI World Index is… Read more »

XE Market Analysis: Europe – Nov 30, 2020

The DXY dollar index edged out a 32-month low at 91.66, and is set to close out November with its second biggest monthly loss in almost two years. The decline has been concomitant with the vaccine-optimism rally in global asset markets, which catalysed a rotation in cyclical stocks and industrial commodities. The MSCI World Index… Read more »

XE Market Analysis: Asia – Nov 27, 2020

The Dollar was lower overall in N.Y. trade on Friday, seeing the DXY fall to three-month lows, and within 2 points of printing a 2.5 year low. The was no U.S. data to end the week, and the session was relatively quiet overall, as many U.S. participants remained out following Thursday’s Thanksgiving holiday. Wall Street… Read more »

XE Market Analysis: North America – Nov 27, 2020

Narrow ranges have been prevailing in risk-cautious trading. The DXY dollar index settled around the 92.00 level, above yesterday’s 12-week low at 91.84. EUR-USD remained buoyant but off from the 12-day peak seen yesterday at 1.1942. Cable also held within its Thursday range. USD-JPY ebbed to a four-day low at 103.91. The yen was concurrently… Read more »

XE Market Analysis: Europe – Nov 27, 2020

Narrow ranges have been prevailing in risk-cautious trading. The DXY dollar index settled around the 92.00 level, above yesterday’s 12-week low at 91.84. EUR-USD remained buoyant but off from the 12-day peak seen yesterday at 1.1942. Cable also held within its Thursday range. USD-JPY ebbed to a four-day low at 103.91. The yen was concurrently… Read more »

XE Market Analysis: North America – Nov 26, 2020

The dollar has remained soft in quiet conditions, while global asset markets have seen little direction. The U.S. Thanksgiving holiday has quelled activity. Europe’s Stoxx 600 traded near flat. Most stock markets in Asia gained, though remained off recent highs. The MSCI World Index is also off its highs, but remained buoyant and on course… Read more »

XE Market Analysis: Europe – Nov 26, 2020

The dollar has remained soft. Although risk appetite has waned in global markets, it hasn’t been sufficient to warrant safe haven positioning, which would have put the U.S. currency in demand. Worse than expected U.S. jobless claims caught attention, despite strong durable orders and home sales data, given the course to more Covid-related restrictions in… Read more »

XE Market Analysis: Asia – Nov 25, 2020

The Dollar was mostly lower in N.Y. on Wednesday, resulting in a fresh three-month low for the DXY. The index touched 91.92 lows, levels last seen on September 1. A barrage of incoming U.S. data was mixed, though overall weighed some on the Greenback. Revised GDP was unchanged from its initial print, while initial jobless… Read more »

XE Market Analysis: North America – Nov 25, 2020

The dollar and yen firmed up and the dollar bloc and other cyclical currencies turned lower as stock markets in Europe drifted lower after a mixed session across Asian markets. Commodities also came off the boil, with copper prices, for instance, turning negative on the day after posting a near seven-year high. Oil prices also… Read more »

XE Market Analysis: Europe – Nov 25, 2020

The dollar retained a softening bias while the dollar bloc and other commodity and cyclical currencies retained a firming bias, although momentum flagged somewhat during the course of trading, into the open of European interbank markets. While the MSCI World Index yesterday clocked a fresh record high, the mood in Asian stock markets has been… Read more »

XE Market Analysis: Asia – Nov 24, 2020

The Dollar ran higher into the N.Y. open and beyond on Tuesday, taking the DXY from 92.19 to 92.55. The USD advanced versus all the major currencies, seemingly on the back of the formal start to the transition to a Biden presidency. Gains were later partly reversed, perhaps as risk-taking levels surged. The DJIA headed… Read more »

XE Market Analysis: North America – Nov 24, 2020

The dollar and yen came under pressure as risk-on positioning re-established. Pound outperformance was another theme. The MSCI Asia-Pacific ex-Japan stock index hit a new record high. Europe’s Stoxx 600 pared early gains, leaving last week’s eight-month highs unchallenged, but remained remaining buoyant. S&P 500 E-mini futures were showing a 0.5% gain as of the… Read more »

XE Market Analysis: Europe – Nov 24, 2020

The dollar bloc and other commodity and cycle currencies have gained amid risk-on positioning in global markets, though many bellwether equity indices and commodities remain off recent trend highs, while Chinese markets fell after recent strong gains. Australia’s ASX 200 still rallied to a new eight-month high. EuroStoxx 50 and S&P mini futures posted 0.5%-plus… Read more »

XE Market Analysis: Asia – Nov 23, 2020

The Dollar turned broadly higher in N.Y. on Monday, with the better Markit PMI outcomes providing the main driver. USD Short-covering was noted after the unit tumbled through much of the month of November. The DXY recovered from near three-month opening lows of 92.02 to 92.80. In addition, firmer Treasury yields gave some support to… Read more »

XE Market Analysis: North America – Nov 23, 2020

The dollar and yen came under pressure as risk-on positioning re-established. Pound outperformance was another theme. The MSCI Asia-Pacific ex-Japan stock index hit a new record high. Europe’s Stoxx 600 pared early gains, leaving last week’s eight-month highs unchallenged, but remained remaining buoyant. S&P 500 E-mini futures were showing a 0.5% gain as of the… Read more »

XE Market Analysis: Europe – Nov 23, 2020

The dollar and yen traded moderately softer against most other currencies amid a buoyant sentiment in Asian markets, which propelled the MSCI Asia-Pacific ex-Japan stock index hit a new record high. Sterling outperformance was another theme. There have been various positive news, ranging from Covid vaccines and treatments, to encouraging corporate earnings and economic data,… Read more »

XE Market Analysis: Asia – Nov 20, 2020

The Dollar bounced slightly through the N.Y. session on Friday, with pre-weekend short-covering driving much of the move, following a relatively soft performance through the week. The DXY topped at 92.42, after hitting 92.25 lows early in the session. There were no data to drive markets, and it appeared traders stayed close to the sidelines… Read more »

XE Market Analysis: North America – Nov 20, 2020

Currencies have largely remained within recent range bounds. Risk appetite picked up during the European morning, which saw the dollar bloc currencies lift. Asian stock markets lifted after starting out weak, with the main indices across the region finishing in a mix of modest losses and modest gains. Europe’s Stoxx 600 was up 0.6%, and… Read more »

XE Market Analysis: Europe – Nov 20, 2020

Currencies have largely remained within recent range bounds as a risk-cautious sentiment continues in global asset markets. Asian stock markets lifted after starting out weak, with the main indices across the region showing a mix of modest losses and modest gains. S&P 500 E-mini futures dropped 0.4% after the cash version of the index finished… Read more »

XE Market Analysis: Asia – Nov 19, 2020

As was the case on Wednesday, the Dollar attempted to rally early, though ultimately ran out of gas and later turned modestly lower on the session. The DXY topped at 92.68 before falling to 92.45 lows. Incoming data was mostly better than expected. Initial claims were higher than forecasts, though continuing claims fell sharply. Existing… Read more »

XE Market Analysis: North America – Nov 19, 2020

Currencies have been seeing relatively narrow ranges in risk-cautious trading, though the Australian and New Zealand dollars have racked up a 0.5% loss apiece versus the U.S. dollar, which has been trading with a firming bias. Source: XE news feed XE Market Analysis: North America – Nov 19, 2020

XE Market Analysis: Europe – Nov 19, 2020

The pound and euro posted respective two- and three-day lows against the dollar as anxieties about Brexit took hold, although magnitude of movement has been limited so far. Both currencies posted 10-day lows versus the yen, though fared better against the dollar bloc currencies with global stock markets and commodity markets seeing cautious trading after… Read more »

XE Market Analysis: Asia – Nov 18, 2020

N.Y. FX trade was very quiet on Wednesday, with major Dollar pairings held to narrow ranges. The USD attempted to rally early on, though quickly turned modestly lower. The DXY topped at 92.45, later easing to a 92.27 low. Incoming U.S. data saw October housing starts rise more than forecast, though the outcome had little… Read more »

XE Market Analysis: North America – Nov 18, 2020

The dollar continued to soften. While there has been evident caution after recent strong gains in world stock markets, markets have remained buoyant, with Europe’s Stoxx 600 lifting towards yesterday’s eight-month, S&P 500 E-mini futures gaining 0.3%. Asian markets were mostly higher, though Japan’s Nikkei closed lower and Chinese markets were flat. Australia’s ASX index… Read more »

XE Market Analysis: Europe – Nov 18, 2020

The dollar maintained a soft tone, posting fresh lows against the yen and the pound, while holding above Tuesday lows against the euro and others. The Australian dollar saw intraday weakness before recovering. A degree of caution has crept back in after recent strong gains in world stock markets, which propelled the MSCI World Index… Read more »

XE Market Analysis: Asia – Nov 17, 2020

The Dollar firmed slightly in N.Y. on Tuesday, though narrow ranges were in place for most pairings. The DXY edged up from seven-session lows of 92.27, later peaking at 92.49. Incoming U.S. data was generally supportive, as retail sales missed forecasts, though large upward revisions from August offset, while industrial production was a bit better… Read more »

XE Market Analysis: North America – Nov 17, 2020

The dollar and commodity currencies are softer against the yen and European currencies today. The dollar didn’t show its usual inverse correlation with stock markets, which came off the boil today after rallying yesterday, driving the MSCI All World index to a record high. The DXY dollar index fell 0.4% in making an eight-day low… Read more »

XE Market Analysis: Europe – Nov 17, 2020

Currencies have been seeing narrow ranges so far today after yesterday’s fresh bout of risk-on positioning. The Australian and New Zealand dollars still edged out respective eight-day and eight-month highs, but there wasn’t much appetite for follow-through and both currencies ebbed back. Stock markets have came off the boil today in Asia after rallying strongly… Read more »

XE Market Analysis: Asia – Nov 16, 2020

The Dollar firmed up some in London morning trade, seeing the DXY head from one-week lows of 92.47 to 92.84 in early N.Y. Risk-on conditions through the N.Y. session later weighed some on the greenback, as Wall Street jumped to record highs on the Moderna Covid vaccine news. USD moves overall though, were minimal. For… Read more »

XE Market Analysis: North America – Nov 16, 2020

The dollar has softened, and cyclical currencies have firmed as the MSCI Asia-Pacific equity index rallied over 1% to its highest level since its inception in 1987. Japan’s Nikkei 225, which has been an investor favourite in the ‘great rotation’ into cyclical stocks, resumed its outperformance, rallying over 2% to a new best since 1991…. Read more »

XE Market Analysis: Europe – Nov 16, 2020

The dollar has softened, and cyclical currencies have firmed as the MSCI Asia-Pacific equity index rallied over 1% to its highest level since its inception in 1987. Japan’s Nikkei, which has been an investor favourite in the ‘great rotation’ into cyclical stocks, resumed its outperformance, rallying over 2% to a new best since 1991. European… Read more »

XE Market Analysis: Asia – Nov 13, 2020

The Dollar was modestly lower in N.Y. trade on Friday, resulting in the DXY falling from lows of 92.91 to 92.75 in early afternoon. Major Dollar pairings were largely held to narrow trading bands, but risk-on conditions weighed fairly broadly on the safe-haven Greenback. Wall Street rallied, with markets holding out hope for a Covid… Read more »

XE Market Analysis: North America – Nov 13, 2020

A risk-back-on theme emerged during the London morning, which imparted a concurrent dollar and yen softening theme in currency markets while seeing commodity currencies lift out of lows. The main European stock indices has racked up gains of over 0.5%, as of the late London morning, and S&P 500 E-mini futures were up by nearly… Read more »

XE Market Analysis: Europe – Nov 13, 2020

Narrow ranges have been ensuing, with a theme of yen firmness amid a backdrop of softening stock markets. Market narratives are loaded with the ‘fading Covod-19 vaccine rally’ phraseology due the rollout logistics and time frame. The IEA said that a Covid vaccine won’t likely boost the oil market until late 2021, for instance. Pfizer’s… Read more »

XE Market Analysis: Asia – Nov 12, 2020

The Dollar was choppy but rangebound through the N.Y. session, seeing the DXY range between 93.03 and 92.85. Incoming data was mixed with October CPI coming cooler than expected, and initial and continuing claims dropping more than consensus. Neither had much impact on the USD, ass it largely meandered. Wall Street was lower on Covid… Read more »

XE Market Analysis: North America – Nov 12, 2020

A partial reversal in recent positioning themes has been seen, with the dollar bloc and pound softening against the dollar, and the yen outperforming. This dynamic has been concomitant with global stock markets flagging, though Japan’s Nikkei 225 gets a special mention for bucking the trend in rallying to a fresh 29-year high. A fall… Read more »

XE Market Analysis: Europe – Nov 12, 2020

Some reversal in recent positioning themes has been seen, with the dollar bloc and pound softening against the dollar, and the yen outperforming moderately. This dynamic has been concomitant with global stock markets, outside the case of Japan, flagging. A fall in Chinese tech stocks, sparked by Beijing regulators launching an antitrust investigation, led a… Read more »

XE Market Analysis: North America – Nov 11, 2020

The dollar has firmed against the euro and other European currencies outside the case versus the pound, which posted two-months against both the dollar and yen, while holding steady-to-lower against the dollar bloc. The risk-on mood has continued. Europe’s Stoxx 600 equity index rallied to its best levels in eight months, and S&P 500 E-mini… Read more »

XE Market Analysis: Europe – Nov 11, 2020

The New Zealand dollar has rallied strongly with markets pricing out expectations for the RBNZ to implement negative interest rates after the central bank stated at its policy review today that around 100bp less stimulus is seen as necessary. Governor Orr said that the domestic economy has been more resilient than previously assumed. The Kiwi… Read more »

XE Market Analysis: Asia – Nov 10, 2020

The Dollar remained relatively firm in N.Y. trade on Tuesday, managing a four-session high. The DXY traded to 92.97 highs on an intraday basis, just above Monday’s peak. There was little in the way of news or data to drive the FX market, though Monday’s good news on the vaccine front, and prospects for a… Read more »

XE Market Analysis: North America – Nov 10, 2020

A rally in the pound punctuated an otherwise directionally uninteresting session during the London morning, with the forex market largely in consolidate mood after yesterday’s outsized rally in dollar bloc and other commodity-correlating currencies against the yen. The strong global stock market rally flagged, and the rotation out of big tech continued, with Nasdaq futures… Read more »

XE Market Analysis: Europe – Nov 10, 2020

The main currencies have settled in comparatively narrow ranges after yesterday’s outsized rally in dollar bloc and other commodity-correlating currencies against the yen. The dollar has also settled after rising by over 2% versus the yen and, by to a much more moderate extent, against the euro and other European currencies, which collectively found themselves… Read more »

XE Market Analysis: Asia – Nov 09, 2020

After hitting a better than two-month low overnight, the Dollar turned higher in N.Y. trade on news that Pfizer and BioNTech Covid vaccine appears to be very effective. This saw equity markets soar, and U.S. Treasury yields headed higher. The greenback initially fell on safe-haven outflows as sa result of the sharp risk-on conditions, though… Read more »

XE Market Analysis: North America – Nov 09, 2020

The dollar posted fresh lows, continuing last week’s theme as global stock markets and commodity prices surged. EUR-USD posted an eight-week high at 1.1899, while the DXY dollar index concurrently printed new two-month low at 92.13. Sharp weakness in the Japanese currency saw USD-JPY buck the dollar weakening theme. The pair rose by over 0.5%… Read more »

XE Market Analysis: Europe – Nov 09, 2020

The dollar has posted fresh trend lows, continuing last week’s weakening theme. It’s notable that the dollar has continued to decline despite Friday’s unambiguously solid U.S. jobs report and that it has remained heavy in the new week, which is revelatory of where sentiment is with regard to the U.S. currency. The ongoing dollar weakness… Read more »

XE Market Analysis: Asia – Nov 06, 2020

The DXY fell to its lowest level since September 1 in N.Y. trade on Friday, with the index printing four-straight lower daily lows this week. Pressure earlier came as risk-on conditions prevailed following the election, where most assumed a split Congress would keep taxes from rising and preserve business deregulation which has been seen four… Read more »

XE Market Analysis: North America – Nov 06, 2020

The dollar is down for a fourth consecutive day, with the DXY index posting a two-month low at 92.28 and EUR-USD rising to a 16-day high at 1.1878, extending the sharp rally from the 1.1603 low seen earlier in the week. USD-JPY printed a fresh eight-month low at 103.19. Expectations for a relatively lacklustre U.S…. Read more »

XE Market Analysis: Europe – Nov 06, 2020

The dollar has found a footing after tipping sharply lower over the last three days, which mirrors a petering out in the risk-on positioning theme in global markets today. We’re still awaiting on the U.S. election result. Markets are pricing in a Biden presidency and a split Congress, with Republicans likely to retain the Senate… Read more »

XE Market Analysis: Asia – Nov 05, 2020

The Dollar was largely range-bound through the N.Y. session, after broadly losing ground overnight. The USD was steady following the FOMC announcement, where no tweaks to policy were made, as widely expected. The greenback had fallen sharply the past two-sessions, as prospects for a split Congress supported risk-taking levels, putting pressure on the safe-haven USD…. Read more »

XE Market Analysis: North America – Nov 05, 2020

The dollar and yen have declined with coursing risk appetite in global markets driving gains in other currencies and asset markets. U.S. Treasury yields have remained in decline, narrowing the yield spread versus the Bund, gilt and JGB yields, among others. Markets are essentially discounting a Biden presidency and a split Congress. Although Democrats still… Read more »

XE Market Analysis: Europe – Nov 05, 2020

The dollar majors have been seeing relatively narrow ranges so far today, despite global stock markets rallying and sovereign bond yields, led by U.S. Treasury yields, tumbling. Markets are discounting a Biden presidency and a split Congress. Although Democrats still have a narrow path to taking control of the Senate (there is a 48 versus… Read more »

XE Market Analysis: Asia – Nov 04, 2020

The Dollar shot higher overnight, as election uncertainty saw a rush into the safe-haven USD. Later, as risk appetite exploded, the USD fell back. The DXY moved from Asian lows of 93.38 to a high of 94.30 before falling back to 93.26 in early N.Y. trade. FX trade is likely to remain choppy until the… Read more »

XE Market Analysis: North America – Nov 04, 2020

Choppy price action has been prevailing in currency markets, and global financial markets more broadly, as participants attempt to digest the closer-than-expected elections in the U.S. As things stand, at 07:00 ET, the Democrats have retained the House but don’t appear to have more than to a 50-50 chance of flipping the Senate, while Biden… Read more »

XE Market Analysis: Europe – Nov 04, 2020

Risk aversion on a closer than expected U.S. election, along with Trump agitating the process with claims that his rivals are attempting to manipulate the results, has driven the dollar higher on a safe haven bid, while U.S. Treasuries have surged, driving the 10-year T-note yield down by 12 bp. The DXY dollar index rose… Read more »

XE Market Analysis: Asia – Nov 03, 2020

The Dollar fell in N.Y. trade on Tuesday, taking the DXY to four-session lows of 93.29 from 93.64 at the open. Risk-on conditions saw safe-haven USD flows unwind pretty much across the board. Wall Street rallied sharply, with short covering a driver into the U.S. election results, which should hopefully be known sometime during the… Read more »

XE Market Analysis: North America – Nov 03, 2020

The correction in the dollar and yen intensified as market participants made a quick retreat from risk-off positioning. The risk-sensitive AUD-USD and AUD-JPY have been the biggest gainers out of the most traded currencies, with both showing gains of comfortably over 1% at their highs. Many wrong-footed speculative accounts beat a retreat from short positions… Read more »

XE Market Analysis: Europe – Nov 03, 2020

Narrow ranges have been prevailing, with the risk event of today’s U.S. election have a deterring effect on forex market activity. The DXY dollar index ebbed back under the 94.00 level after printing a five-week high yesterday at 94.29, with EUR-USD concurrently lifting above 1.1600, extending a so far moderate rebound from yesterday’s five-week low… Read more »

XE Market Analysis: Asia – Nov 02, 2020

After losing some ground overnight, the Dollar recovered some through the N.Y. morning session on Monday. The DXY fell from a one-month high of 94.28 to 93.98 into the open, subsequently bouncing modestly to 94.18. Incoming U.S. data was supportive, which saw the manufacturing ISM improve more than expected. Safe-haven USD flows were noted ahead… Read more »

XE Market Analysis: North America – Nov 02, 2020

The dollar been traded mixed in early week, early month trading. EUR-USD recovered above 1.1650 after pegging a five-day low at 1.1624. France and Germany are now in one-month lockdowns, and many other Eurozone and European nations are now operating under much tighter restrictions. Europe is now heading back into economic recession, although this shouldn’t… Read more »

XE Market Analysis: Europe – Nov 02, 2020

The pound is in decline as markets react to weekend news that the UK will be heading into a one-month lockdown from this Thursday, which could be extended according to senior cabinet minister Gove. Germany and France have started one-month lockdowns, while tight restrictions are being imposed in many other European countries. Cable dove into… Read more »

XE Market Analysis: Asia – Oct 30, 2020

The Dollar firmed up on Friday ahead of week- and month-end. Risk-off conditions supported safe-haven flows into the USD. Incoming data was better then expected, with income, consumption, Chicago PMI and Michigan sentiment all beating forecasts. Wall Street took another dive, as big-tech led the move lower on mixed earnings. Covid, election and stimulus concerns… Read more »

XE Market Analysis: North America – Oct 30, 2020

The dollar has steadied after rallying in recent days, which has helped EUR-USD find a footing after tumbling to a one-month low at 1.1650 yesterday. EUR-JPY, however, fell to a near-four-month low, and GBP-JPY to a fresh one-month low, even though USD-JPY has remained above the five-week low it saw yesterday at 104.03. Global market… Read more »

XE Market Analysis: Europe – Oct 30, 2020

The dollar has steadied after rallying in recent days, which has helped EUR-USD find a footing after tumbling to a one-month low at 1.1650 yesterday. EUR-JPY, however, fell to a near-four-month low, and GBP-JPY to a fresh one-month low, even though USD-JPY has remained above the five-week low it saw yesterday at 104.03. Source:… Read more »

XE Market Analysis: Asia – Oct 29, 2020

Despite the largely risk-on backdrop in N.Y. on Thursday, the Dollar rallied broadly. Solid incoming data appeared to have a bit of a delayed reaction from the FX market, as Q3 GDP beat consensus forecasts, as did the weekly jobless claims figures. The DXY rallied to one-month highs of 94.10, up from overnight lows of… Read more »

XE Market Analysis: North America – Oct 29, 2020

The dollar and more especially the yen rebounded from intraday weakness. EUR-USD inched towards yesterday’s low at 1.1717, with the pair at levels prevailing in the late London morning showing a modest 20-pip-plus (approx) decline on yesterday’s low. EUR-JPY was down quite sharply, putting the cross below the 122.00 level for the first time since… Read more »

XE Market Analysis: Europe – Oct 29, 2020

The dollar and yen have softened after rallying strongly yesterday on safe haven demand. Short-term speculative participants and others accumulated large long exposures in these currencies, particularly in yen crosses such as CAD-JPY, and there has naturally been some impetus to book profits with U.S. and European equity index futures finding a footing after yesterday’s… Read more »

XE Market Analysis: Asia – Oct 28, 2020

The Dollar rose through the London mornings session into early N.Y. trade before sputtering a bit lower through the remainder of the session. The DXY climbed from overnight lows of 93.05 to 93.64, before easing back to 93.37 lows. USD buying was triggered overnight, as equity markets sold off on the back of soaring Covid… Read more »

XE Market Analysis: North America – Oct 28, 2020

The dollar and yen are higher on safe haven positioning, and bitcoin hit its best level in almost three years, while European and the dollar bloc currencies came under pressure alongside many currencies from the newly developed and developing world. U.S. Treasuries have remained underpinned as liquid capital seeks harbour, with the dollar holding up… Read more »

XE Market Analysis: Europe – Oct 28, 2020

The dollar and yen are higher on safe haven positioning, and bitcoin hit its best level in almost three years. U.S. Treasuries have remained underpinned as liquid capital seeks harbour, with the dollar holding up despite a 10bp drop in the 10-year T-note yield since last Thursday, which has seen the U.S. yield differential decline… Read more »