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The Dollar index largely maintained altitude through the N.Y. session, after spiking higher in Europe following weak EU PMIs, and negative Bund yields, which weighed heavily on EUR-USD. The DXY peaked at six-session highs of 96.81, before meandering between 96.54 and 96.78 through the N.Y. Read more
OVERVIEW The Dollar Index touches a seven-day high after the Eurozone stumbles on poor PMIs The stalling economy sent the euro in negative territory, down 0.6% against the USD NYMEX WTI steadies after catching new 2019 high near $60.40. HIGHLIGHT The euro is under heavy selling pressure this morning after PMI data revealed that economic growth is stalling. Read more
The Dollar traded mixed, gaining sharply agains the Euro following underwhelming PMI data out of the Eurozone, while concurrently losing ground to the Pound, which traded firmer after the EU granted a delay in Brexit. The U.S. currency, meanwhile, also posted gains against the Dollar bloc currencies, which have come under pressure concomitantly with flagging global stock markets and commodity prices, while at the same time losing ground to the Yen, which picked up a degree of safe haven demand. Read more
The Pound has traded firmer in the wake of the EU granting an extension in the Brexit process. A two-week delay has been stimulated for UK Prime Minister May to get her deal through Parliament or come up with another plan. If the PM's deal is passed, then the UK would have until to May 22 to get the necessary withdrawal legislation done before exiting the EU. Read more
The Dollar shrugged off Wednesday's dovish FOMC result in N.Y. on Thursday, as the DXY rallied to pre-Fed levels though the session. The resiliency of the dollar was impressive given the FOMC, though this could be a case of the USD being the cleanest dirty shirt in the hamper. Read more
OVERVIEW The Dollar Index made a comeback after the greenback crashed to multi-week lows against the G-10 currencies GBP/USD is down by 0.5% after Bank of England votes to keep its rate unchanged Read more
The Dollar managed to recoup some of the losses seen after the Fed reaffirmed its dovish turn yesterday. EUR-USD has corrected back under 1.1400, putting in some distance from yesterday's post-Fed six-week high at 1.1448. With the Eurozone economy losing momentum amid acute Brexit uncertainty, and with the 10-year Bund yield declining by over 4 bp during the AM session in Europe today, EUR-USD never looked to be much of bullish trend following opportunity. Read more
The Dollar has tumbled after the Fed signalled there would be no further rate hikes this year and that it would halt the steady decline of its balance sheet in September. This drove U.S. yields lower, with the 10-year T-note retreating to levels below 2.53%, levels not seen since January 2018. Read more
The dollar fell following the FOMC announcement, where rates were left unchanged as expected. The dot-plot signaled no further rate increases this year, and one 25 basis point rise in 2020. The Fed revised 2019 inflation lower, and said it will end its balance sheet reduction in October. Read more
