Category: Commodities & Markets News

Commodities and financial market news from external sources.

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 »

XE Market Analysis: North America – Jan 03, 2020

The dollar and yen rallied on the back of safe-haven demand following U.S. air strikes that killed the head of Iran’s elite Revolutionary Guard’s overseas unit. The news also saw sovereign bonds rise, gold prices rally by over 1.5%, and oil prices by over 3%, while stock markets, richly valued after recent gains (Apple shares… Read more »

XE Market Analysis: Europe – Jan 03, 2020

The yen, and to a lesser degree, the dollar have rallied amid a dash for safe havens following U.S. air strikes that killed the head of Iran’s elite Revolutionary Guard’s overseas unit. The news also saw gold prices rally by over 1%, and oil prices by over 3%, while stock markets, richly valued after recent… Read more »

XE Market Analysis: Asia – Jan 02, 2020

The Dollar chopped around in N.Y. on the first trading day of the year, ultimately edging higher on the session. The DXY peaked at 96.87, up from lows of 96.56 in morning trade. Incoming data was uneventful, with jobless claims a bit higher than expected, and the Markit manufacturing PMI little changed. Wall Street took… Read more »

XE Market Analysis: North America – Jan 02, 2020

The dollar has found a footing after coming under pressure over the Christmas week and earlier this week. Liquidity has picked up, though some centres in Asia have remained closed, including Tokyo. The narrow trade-weighted USD index (DXY) has lifted above 96.65, up from the six-month low seen earlier in the week at 96.36. EUR-USD… Read more »

XE Market Analysis: Europe – Jan 02, 2020

The dollar has found a footing after coming under pressure over the Christmas week and earlier this week. Liquidity has picked up, though some centres in Asia have remained closed, including Tokyo. The narrow trade-weighted USD index (DXY) has lifted above 96.50, up from the six-month low seen earlier in the week at 96.36. EUR-USD… Read more »

XE Market Analysis: Asia – Dec 31, 2019

The Dollar suffered again in N.Y. trade on the last day of the year, leaving the DXY at six-month lows of 96.36, and down from 97.71 in less than a week. Very thin trading conditions likely magnified recent moves, though the reversal of safe-haven USD flows ahead of what is expected to be a positive… Read more »

XE Market Analysis: North America – Dec 31, 2019

The dollar posted fresh lows against the euro and, more especially, the yen and other Asian currencies, and the dollar bloc units, which rallied following above-forecast manufacturing PMI data out of China. USD-JPY fell to an 18-day low at 108.62. The Singapore dollar printed an eight-month high versus the dollar, and the Malaysia Ringgit a… Read more »

XE Market Analysis: Europe – Dec 31, 2019

The yen, other Asian currencies, and dollar block units have rallied following above-forecast manufacturing PMI data out of China. USD-JPY fell to an 18-day low at 108.62. The Singapore dollar printed an eight-month high versus the dollar, and the Malaysia Ringgit a six-and-a-half-year high. AUD-USD posted a fresh one-month peak at 0.7012, in what is… Read more »

XE Market Analysis: Asia – Dec 30, 2019

The Dollar headed lower on the second to last trading day of the year (and decade), with ultra-thin liquidity conditions exacerbating FX moves. Incoming data was generally better than expectations, though did little to support the USD. Wall Street fell on year-end profit takings, while Treasury yields moved higher. EUR-USD rallied to 1.1224 from opening… Read more »

XE Market Analysis: North America – Dec 30, 2019

The dollar has continued to trade softer in thin markets. The narrow trade-weighted USD index (DXY) ebbed to a 17-day low at 96.73 ahead of the European open, since steadying a little above here. The index has racked up a near 1% loss over the last week, which has come as global stock markets rallied… Read more »

XE Market Analysis: Europe – Dec 30, 2019

The dollar has continued to trade softer in thin markets. The narrow trade-weighted USD index (DXY) ebbed to a 17-day low at 96.73. The index has racked up a near 1% loss over the last week, which has come as global stock markets rallied to fresh major-trend highs, or record highs in the case of… Read more »

XE Market Analysis: Asia – Dec 27, 2019

The Dollar was softer to end the week, though trade was thin at the height of year-end conditions. Most trader’s books have been closed for the year, leaving thin and nervous conditions. There was no data to drive markets today, though Wall Street move to fresh all-time highs, and Treasury yields were a touch lower…. Read more »

XE Market Analysis: North America – Dec 27, 2019

The dollar has declined against a backdrop of coursing risk-on sentiment in global equity markets with investors anticipating the U.S.-China phase-1 trade deal to be signed-off on soon, which will come amid a world of expansive monetary policy and benign inflation. In forex markets, the narrow trade-weighted USD index (DXY) dropped nearly 0.5% to an… Read more »

XE Market Analysis: Europe – Dec 27, 2019

The dollar has declined against a backdrop of coursing risk-on sentiment in global equity markets. The three major U.S. equity indices closed at record highs on Wall Street yesterday, and the MSCI Asia-Pacific has hit18-month highs today. The MSCI’s all-country world index is up 24% on the year, which is its best annual performance since… Read more »

XE Market Analysis: Asia – Dec 24, 2019

The FX market was virtually closed on Tuesday in N.Y., with traders sitting on their hands into the early close for many, and ahead of Christmas on Wednesday. The only data release was the December Richmond Fed index, which fell to -5 from -1, but had little market impact. EUR-USD ranged between 1.1078 and 1.1090,… Read more »

XE Market Analysis: North America – Dec 24, 2019

The main currencies are in a holiday-mode stasis now, which will likely remain the case through to January 2. Tokyo is the only main forex centre that will be open tomorrow. The Fed calculated broad inflation-adjusted trade-weighted measure of the dollar shows the currency to have put in a relatively narrow range this year. This… Read more »

XE Market Analysis: Europe – Dec 24, 2019

The main currencies are in a holiday-mode stasis now, which will likely remain the case through to January 2. Tokyo is the only main forex centre that will be open tomorrow. The Fed calculated broad inflation-adjusted trade-weighted measure of the dollar shows the currency to have put in a relatively narrow range this year. This… Read more »

XE Market Analysis: Asia – Dec 23, 2019

FX trade slowed to a crawl in N.Y. on Monday, with activity declining quickly into the Christmas break. The Greenback was a bit lower overall through the morning session following weak durables and softer new home sales data, though major Dollar pairings traded inside of narrow ranges. EUR-USD managed at 1.1-70 to 1.1096 band, while… Read more »

XE Market Analysis: Europe – Dec 23, 2019

The Australians and New Zealand dollars have edged higher in quiet, low volume trading. Both AUD-USD and NZD-USD printed a 10-day highs, at 0.6914 and 0.6614, respectively. Both pairings look set to enter 2020 near their recent five- and four-month highs. Anticipation of the U.S.-China trade deal and recent data showing a steadying in global… Read more »

XE Market Analysis: Asia – Dec 20, 2019

The DXY rose to two-week highs of 97.73 in N.Y. trade on Friday. The reaffirmation of Q3 GDP, along with firmer earnings and consumption figures supported the USD. Wall Street rose to fresh record highs, while Treasury yields were little changed in holiday-mode trade. EUR-USD dipped to eight-session lows under 1.1070, after opening near 1.1100…. Read more »

XE Market Analysis: North America – Dec 20, 2019

The dollar has continued in directionally mixed trading, gaining versus the euro and New Zealand dollar, which has underperformed amid position trimming in thin markets ahead of the Christmas and new-year holiday period, while holding flat against the yen, and losing ground to the Canadian and Australian dollars, and, to a lesser extent, the pound,… Read more »

XE Market Analysis: Europe – Dec 20, 2019

Narrow ranges have continued to be the norm as markets wind down into the Christmas and new year holiday period. EUR-USD has mustered less than a 10-pip range so far today, holding in the lower 1.1100s in what is now the seventh consecutive trading day the pair has been trading on a 1.11 handle. USD-JPY… Read more »

XE Market Analysis: Asia – Dec 19, 2019

Another quiet pre-holiday FX session in N.Y. on Thursday, leaving major Dollar pairings range bound. Incoming U.S. data was on the soft side, leaving the Philly Fed index, jobless claims, and existing home sales missing consensus forecasts, though the FX market only lightly sold the Dollar off on the results. Wall Street turned a blind… Read more »

XE Market Analysis: North America – Dec 19, 2019

The dollar drifted moderately lower in quiet trading. EUR-USD lifted out of the one-week low seen yesterday at 1.1110, but remains mired in narrow ranges in what is now the sixth consecutive session trading on a 1.11 handle. USD-JPY also continued to ply narrow ranges, though the pair still managed to scratch out a six-day… Read more »

XE Market Analysis: Europe – Dec 19, 2019

The dollar has traded moderately softer in thinning year-end markets. This has seen the narrow trade-weighted USD index (DXY) ebb to a low of 97.30, down from the one-week high seen yesterday at 97.47. A rebound in Cable has weighed on the U.S. currency, with sterling finding a footing after plunging by nearly 3.5% from… Read more »

XE Market Analysis: Asia – Dec 18, 2019

FX trade was very quiet in N.Y. on Wednesday, though the DXY managed a one-week high of 97.47 early in the session. There was no data to drive the market, though firmer Treasury yields provided some support to the USD. EUR-USD ranged between 1.1111 and 1.1134, closing out the day near its lows. USD-JPY drifted… Read more »

XE Market Analysis: North America – Dec 18, 2019

The dollar has traded moderately firmer against most currencies, which lifted the narrow trade-weighted USD index (DXY) to a six-day high at 97.36. This extends the rebound in the USD index from the five-and-a-half-month low that was seen last Thursday, at 96.59. A 3% decline in Cable from the post-UK election high has been the… Read more »

XE Market Analysis: Europe – Dec 18, 2019

Sterling posted fresh correction lows against the dollar and euro, among other currencies. Cable printed a six-day low at 1.3072, and EUR-GBP a two-week high at 0.8517. This follows UK prime minister Johnson’s revival of the no-deal Brexit threat yesterday, by pledging to modify the EU withdrawal agreement so that it legislates against any extension… Read more »

XE Market Analysis: Asia – Dec 17, 2019

The Dollar had been on the decline through the London morning session, though perked up after the N.Y. open on the back of better than expected U.S. data. Both housing starts and industrial production beat forecasts, allowing the Greenback to head higher. The DXY recovered from 947.03 lows, later topping at 97.24. Trade overall was… Read more »

XE Market Analysis: Europe – Dec 17, 2019

The pound is down 0.5% on the day against both the dollar and euro, and is off by 0.4% versus the yen. The catalyst was news that UK prime minister Johnson will amend the withdrawal agreement bill to outlaw an extension in the transition period beyond the end of 2020. This is something of a… Read more »

XE Market Analysis: Asia – Dec 16, 2019

The Dollar firmed up some in N.Y. trade on Monday, taking the DXY from 96.94 lows to a 97.11 peak. Holiday mode appears to be upon us, as narrow trading ranges were generally the rule. Decent incoming PMIs and housing builder index helped USD sentiment. Wall Street posted new record highs, while Treasury yields heading… Read more »

XE Market Analysis: North America – Dec 16, 2019

The dollar and yen traded with softening biases against most other currencies, though all the main dollar pairings and associated crosses rates held within Friday ranges, with exceptions of USD-CAD and CAD-CHF, the former of which hit a fresh six-week low in what is now the pair’s four consecutive down week. A fractionally weaker than… Read more »

XE Market Analysis: Europe – Dec 16, 2019

The dollar majors have been seeing typically narrow early-week ranges in quite year-end-approaching conditions. The narrow trade-weighted USD index (DXY), at 96.97, was showing a 0.2% decline heading into the London interbank open, correcting about half the gain seen on Friday. The index has been trending lower over the last two weeks, producing a five-and-a-half-month… Read more »

XE Market Analysis: Asia – Dec 13, 2019

The Dollar index fell to five-month lows of 96.59 after the N.Y. session on Thursday, down from N.Y. closing highs of 97.27. The move came following the U.K. exit poll, indicating the Tories would win a large majority. This saw the Pound surge, dragging the EUR up with it. The USD perked up some in… Read more »

XE Market Analysis: North America – Dec 13, 2019

Sterling settled after surging over 2% versus the dollar, euro and yen (averaged) on the initial exit poll that accurately predicted the landslide win for the Conservative Party in the UK’s general election. Source: XE news feed XE Market Analysis: North America – Dec 13, 2019

XE Market Analysis: Europe – Dec 13, 2019

Sterling is up by over 2% versus the dollar, euro and yen (averaged) in light of the unexpectedly large win for the Conservative Party in the UK’s general election. With 647 of the 650 House of Commons seats declared, the Conservatives have 362 seats, a gain of 47 seats, versus Labour’s 203, a loss of… Read more »

XE Market Analysis: Asia – Dec 12, 2019

The DXY bounced from four-month lows of 97.04 in N.Y. trade on Thursday, taking the index to 97.51 highs after the London close. Cooler U.S. PPI, along with a surge in jobless claims saw the USD dip a bit early, though a Trump tweet saying “Getting VERY close to a BIG DEAL with China. They… Read more »

XE Market Analysis: North America – Dec 12, 2019

Sterling has seen some chop as the UK public head to the voting booths today, first posting a fresh trend high against the dollar before coming under position-squaring pressure. Cable dropped by over half a big figure after earlier logging an eight-and-a-half high at 1.3229. EUR-GBP, meanwhile, vaulted above 0.8450 from the lower 0.8400s. The… Read more »

XE Market Analysis: Europe – Dec 12, 2019

The yen has printed fresh lows against the euro, Australian dollar and a number of other currencies, though USD-JPY edged out a two-day low in context of a less than 20-pip range. The declines in the Japanese currency come against the backdrop of global equity markets holding buoyant, although market optimism is guarded about the… Read more »

XE Market Analysis: North America – Dec 11, 2019

The dollar has seen ranges of no more than 20 pips against both the euro and yen so far today, while posting losses to the Australian dollar and the pound. Source: XE news feed XE Market Analysis: North America – Dec 11, 2019

XE Market Analysis: Europe – Dec 11, 2019

The pound has taken a rotation lower following the latest YouGov poll, using its famed MRP methodology (massive survey size and deep analysis to take in account of local factors), and which was the model which correctly called 93% of seats in the 2017 election, showed that a smaller Conservative majority of 28 seats is… Read more »

XE Market Analysis: Asia – Dec 10, 2019

The Dollar was touch lower in N.Y. trade on Tuesday, though the DXY remained inside of the week’s range so far, basing at 97.44 from highs of 97.60 seen during the morning session. A report that the U.S. and China are discussing delaying new U.S. tariffs set to kick off this Sunday, and the USMCA… Read more »

XE Market Analysis: Europe – Dec 10, 2019

The New Zealand dollar posted a fresh four-month high versus the Australian dollar, while NZD-USD and NZD-JPY saw two-day highs. A shift in RBNZ policy expectations and an associated rise in NZ yields have been underpinning the kiwi. The 10-year U.S. T-note yield advantage relative to the NZ 10-year yield has narrowed by some 15… Read more »

XE Market Analysis: Asia – Dec 09, 2019

The Dollar perked up a bit in N.Y. on Monday, after losing some ground overnight. The DXY remained under Friday’s post-jobs report high, with ranges overall remaining narrow. There was no incoming data to drive the FX market, and we now look for some consolidation ahead of Wednesday’s FOMC announcement, and Thursday’s ECB meeting. Wall… Read more »

XE Market Analysis: North America – Dec 09, 2019

The dollar lost ground to the yen and pound, while consolidating gains seen on Friday against the euro and Canadian dollar, among other currencies. The narrow trade-weighted USD index (DXY) was little changed heading into the New York interbank open after rallying nearly 0.5% on Friday. The yen picked up a safe haven bid as… Read more »

XE Market Analysis: Europe – Dec 09, 2019

The pound rallied to new highs as two new polls show the Conservative party extending its lead over Labour. The late debate between PM Johnson and Labour’s wannabe PM, Corbyn, was considered a draw, too, according to a poll by YouGov, suggesting that, with three days to go until the UK general election, there is… Read more »

XE Market Analysis: Asia – Dec 06, 2019

The Dollar rallied in N.Y. trade on Friday, cutting a string of five-straight sessions of losses. A stronger than expected November jobs report, along with outsized gains in the University of Michigan December consumer sentiment index drove the USD higher. Wall Street and Treasury yields reacted as well, both moving higher. The Greenback later faded… Read more »

XE Market Analysis: North America – Dec 06, 2019

A firmer yen and a rallying New Zealand dollar were the main shows in an otherwise quite town ahead of the release of the U.S. November employment report. The yen nudged higher despite gains in global stock markets, with position jigging seen into the release of the U.S. November employment report. USD-JPY printed a two-day… Read more »

XE Market Analysis: Europe – Dec 06, 2019

The yen has nudged modestly higher despite gains in Asian stock markets. USD-JPY printed a two-day low at 108.65. The Japanese currency also saw a two-day low versus the Canadian dollar, but remained above respective Thursday lows against the euro, sterling and other currencies in overall non-committal markets into the release of the November U.S. … Read more »

XE Market Analysis: Asia – Dec 05, 2019

The Dollar posted its fourth consecutive day of losses on Thursday, though ranges were tight, leaving the DXY at a one-month low of 97.36. Incoming U.S. data was decent, but went little way to support the USD. The trade deficit narrowed, jobless claims were lower, while factory orders were in-line with expectations. Trade uncertainty has… Read more »

XE Market Analysis: North America – Dec 05, 2019

The dollar has traded mixed so far today, losing ground the pound, which continued to outperform as markets factor in a Conservatives-with-majority outcome in next week’s general election in the UK, holding near steady versus the euro, gaining on the yen, which retained a heavy tone amid a backdrop of buoyant stock markets. The dollar… Read more »

XE Market Analysis: Europe – Dec 05, 2019

Sterling has continued to unwind its Brexit discount at a pace, with Cable hitting a new seven-month high and EUR-GBP a 31-month low in early London trading. With just a week to go until the UK’s general election, it’s looking increasingly unlikely that Labour will close the popularity gap with PM Johnson’s Conservative party. Politico’s… Read more »

XE Market Analysis: Asia – Dec 04, 2019

The Dollar lost ground through the morning session in N.Y. on Wednesday, with declines coming on the back of a weaker ADP employment survey, and a miss in the services ISM. The USD later bounced some, as risk-on conditions prevailed. Wall Street and Treasury yields were higher following a Bloomberg report that a phase-one U.S./China… Read more »

XE Market Analysis: North America – Dec 04, 2019

The yen came under pressure as a risk-on trade broke out in global markets, with stock markets and high beta assets and currencies rallying and safe haven assets and currencies falling back. The catalyst was a Bloomberg report, citing U.S. officials who are in the loop of the trade negotiations with China saying that progress… Read more »

XE Market Analysis: Europe – Dec 04, 2019

The yen has rallied on a safe-haven bid as global stock markets turn lower after President Trump, nearly two months after announcing the limited “phase 1” trade deal with China, said that trade negotiations may be postponed until after the 2020 presidential election. This after announcing intentions to tariff steel imports from Brazil and Argentina…. Read more »

XE Market Analysis: Asia – Dec 03, 2019

The Dollar fell broadly again in N.Y. trade on Tuesday,leaving the DXY at one-month lows of 97.65, down from 97.85 at the open, and 98.38 at Monday’s peak. There was no data today, though fallout from Monday’s weak manufacturing ISM and slide in construction spending continued to a degree. A fresh eruption of trade fears… Read more »

XE Market Analysis: North America – Dec 03, 2019

The dollar saw its biggest one-day drop in about two months yesterday, by the measure of the narrow trade-weighted USD index (DXY). The index also extended lower today, printing a 12-day low at 97.75. The Fed’s inflation-adjusted broad effective exchange rate continues to trade near, although off, three-year highs following an 8% rally from early… Read more »

XE Market Analysis: Europe – Dec 03, 2019

The dollar has consolidated losses seen yesterday following the unexpected four-consecutive month of contraction in the November ISM manufacturing report out of the U.S. A side theme has been Australian dollar outperformance, while most of the other main currencies have traded neutrally so far today. Asia equities went negative, following Wall Street’s dive, though indices… Read more »

XE Market Analysis: Asia – Dec 02, 2019

Weak manufacturing ISM and construction spending conspired against the Dollar and Wall Street in N.Y. on Monday,taking the DXY to eight session lows of 97.82 from 98.38 into the open. The data, along with talk of the imposition of U.S. tariffs on Brasil and Argentina dented sentiment, while hopes for a phase one trade deal… Read more »

XE Market Analysis: North America – Dec 02, 2019

The dollar has traded mixed, gaining on the yen, which continued to underperform, posting fractional gains versus the euro and sterling, the latter of which was suppressed by the latest political polling ahead of the UK’s upcoming general election, while losing ground to the Australian and New Zealand dollars, which have outperformed so far today…. Read more »

XE Market Analysis: Europe – Dec 02, 2019

The yen softened amid a cautious risk-on theme in markets, which lifted stock markets in Asia moderately. While concerns remain about progress in U.S.-China trade talks ahead of a December-15 deadline for a tariff hike, with U.S. legislation on Hong Kong human rights souring relations, Chinese manufacturing PMI surveys came in better than expected. The… Read more »

XE Market Analysis: Asia – Nov 29, 2019

FX trade was very light on Friday, with many traders taking the day after Thanksgiving off. There was no data to drive prices, though the Dollar was mostly lower overall. The DXY pulled back from levels last seen on October 15, printing 98.54 early, before easing to 98.23 into the London close. EUR-USD rebounded from… Read more »

XE Market Analysis: North America – Nov 29, 2019

The dollar majors have remained without direction in light trading conditions. European stock markets found a footing today, but global stock markets have overall been in sputtering mode on concerns that the souring in U.S.-China relations over Hong Kong (where fresh large pro-democracy demonstrations are reportedly being planned for the weekend) will make trade-deal making… Read more »

XE Market Analysis: Europe – Nov 29, 2019

The main currencies have continued to trade without directional vigour and in low volumes. U.S. markets will be returning only for a half day today, which will keep volumes down after the Thanksgiving holiday yesterday (a so-called bridge weekend for many). Stock markets in Asia have continued to sputter lower, and S&P 500 futures are… Read more »

XE Market Analysis: Asia – Nov 28, 2019

The dollar bloc currencies traded softer as a flare up in U.S.-China relations spoilt markets appetite for risk. The yen also steadied above lows while global stock markets stalled after Beijing threatened as yet unspecified “firm counter measures” in response to President Trump’s signing of the Hong Kong Human Rights bill. A side theme of… Read more »

XE Market Analysis: North America – Nov 28, 2019

The dollar majors have been holding narrow ranges, though the pound still managed to carve out a fresh high against the dollar following a bellwether opinion poll showing PM Johnson’s Conservative party is on track to win the upcoming UK general election with a “sizeable” majority. Cable edged out a new now-week high (by 1… Read more »

XE Market Analysis: Europe – Nov 28, 2019

The pound has rallied to six-month highs against both the euro and yen, while printing a one-week high in the case against the dollar. The UK currency was given a boost by a much-watched poll, released late evening (UK time) yesterday, showing the Conservatives to be on course to win a working majority at the… Read more »

XE Market Analysis: Asia – Nov 27, 2019

The Dollar advanced early in the N.Y. session on Thursday, supported by a better than expected Q3 GDP revision, and stronger durable orders data. The DXY popped to 98.44 from 98.28 at the open. The Greenback reversed lower following the 10:00 EST round of data, where personal income missed the mark. FX activity slowed to… Read more »

XE Market Analysis: North America – Nov 27, 2019

The dollar has been trading mixed so far today, edging out a new high versus the euro and Swiss franc, holding firm against the yen, but losing ground to the pound and Canadian dollars. The U.S. currency also pared earlier gains versus the Australian dollar. This price action has come amid a backdrop of ongoing… Read more »

XE Market Analysis: Europe – Nov 27, 2019

The dollar has traded moderately firmer. The narrow trade-weighted USD index (DXY) rose fractionally to 98.35, which is 3 pips shy of the 13-day high seen on Monday, while EUR-USD ebbed to a 1.1008 low, which is 1 pip short of yesterday’s low and 5 pips short of the 13-day nadir seen on Monday. USD-JPY… Read more »

XE Market Analysis: Asia – Nov 26, 2019

FX trade was very quiet in N.Y. on Tuesday, with narrow ranges the rule for major Dollar pairings. The Greenback ended up pretty much flat overall, with the DXY inching higher to 98.37 early on, then falling back to 98.27 lows through the afternoon. As has been the case of late, there was little reaction… Read more »

XE Market Analysis: North America – Nov 26, 2019

A drop in the pound provided some directional action in an otherwise narrow trading ranges so far today. The yen managed to eke out fresh lows against the dollar and other currencies before finding a footing. The pound was showing a 0.4% loss against the euro as of the late London morning session, and was… Read more »

XE Market Analysis: Europe – Nov 26, 2019

The yen printed fresh lows as a cautious risk-on sentiment persisted in markets in Asia after the three major U.S. equity indices posted new record highs. Top U.S. and Chinese trade negotiators held a telephone conference yesterday, while China’s Global Times reported that the two sides were “moving closer to agreeing” a phase 1 deal… Read more »

XE Market Analysis: Asia – Nov 25, 2019

The Dollar was firmer overall in N.Y. trade on Monday, leaving the DXY at eight session highs of 98.36 into the close. The only data release of note was a softer Dallas Fed index, but it had little impact on markets. The Dollar, and Wall Street were supported by news that China would begin cracking… Read more »

XE Market Analysis: North America – Nov 25, 2019

The dollar firmed up during the London morning session, though lost ground to an underperforming pound, which benefited by the latest opinion polls showing PM Johnson’s Conservative party has increased its lead, while paring Asia-session losses against the dollar bloc currencies. The yen remained on a back foot, reflecting an unwinding in its safe-haven premium… Read more »

XE Market Analysis: Europe – Nov 25, 2019

The yen has weakened amid risk-on trading after Beijing pledged new measures to protect intellectual property. While many market narratives have a fatigued tone after repeated and often banal rhetoric with regard to progress being made six weeks after the “phase 1” deal was announced, the fact that neither side has walked away seems to… Read more »

XE Market Analysis: Asia – Nov 22, 2019

The Dollar ended the week at a six-session high, taking the DXY to 98.24 highs from early lows of 97.99. Incoming U.S. data were the drivers, leaving flash manufacturing and services ISMs at better than expected levels, and seeing the final November University of Michigan consumer sentiment rise to higher than consensus forecasts. Wall Street… Read more »

XE Market Analysis: North America – Nov 22, 2019

The dollar has been trading steady-to-firmer so far today, posting gains against the euro and the pound following weak flash November PMI data out of the UK and Eurozone. EUR-USD printed a one-week low at 1.1047 in the wake of the flash November PMI data out of the Eurozone, where disappointing services data outweighed an… Read more »

XE Market Analysis: Europe – Nov 22, 2019

Currencies have been seeing unremarkable movement against a backdrop of sputtering global stock markets. Mixed leads from the U.S.-China trade negotiation front has fostered a fatigue in markets. President Xi said today that China wants to work out an initial trade agreement and has been trying to avoid a trade war, but is also not… Read more »

XE Market Analysis: Asia – Nov 21, 2019

The Dollar was mostly higher in N.Y. trade on Thursday, supported by generally decent incoming U.S. data. Jobless claims were a touch higher, though the Philly Fed index showed improvement, and exiting home sales rose. Conflicting trade news kept risk-taking levels hemmed in, leaving Wall Street on either side of flat, and Treasury yields modestly… Read more »

XE Market Analysis: North America – Nov 21, 2019

A moderate risk-back-on tone replaced what had been a moderate risk-off theme in global markets. This saw the yen pare gains seen during the Tokyo session, inversely tracking a down-then-up price action in global equity market direction. A WSJ report, citing sources, that Beijing has proposed to the U.S. another round of face-to-face talks in… Read more »

XE Market Analysis: Europe – Nov 21, 2019

The yen edged out fresh highs before paring these gains against the dollar and dollar bloc currencies, with net directional change among the main currencies overall registering as minimal as the London interbank session got under way. USD-JPY posted a one-week low at 108.27 before recouping to near net unchanged levels above 108.50. AUD-JPY and… Read more »

XE Market Analysis: Asia – Nov 20, 2019

The Dollar was mixed in N.Y. on Wednesday, though largely range bound. There was no incoming data to drive the market, though a Reuters report indicated the so-called “Phase one” trade agreement between the U.S. and China, may not happen this year. This sent stocks and yields lower. EUR-USD continued its consolidation from Monday’s high,… Read more »

XE Market Analysis: North America – Nov 20, 2019

Risk-positioning has been underpinning the yen and the dollar. The biggest movers have been AUD-JPY and CAD-JPY, with respective daily losses of nearly 0.4%. Most developing-nation currencies were also showing declines. One standout mover has been the Canadian dollar, which has declined by about 1% from yesterday’s lows against the U.S. buck. A 4%-plus decline… Read more »