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XE Market Analysis: North America - Feb 26, 2020

By: XE Market Analysis

The dollar bloc and most developing world currencies remained under pressure amid an ongoing fragile sentiment in global markets. The Australian dollar tumbled to fresh major-trend lows versus the U.S. dollar following a big miss in Q4 construction data out of Australia, which contracted 3.0% q/q versus the median forecast for -1.0%. Read more

XE Market Analysis: Europe - Feb 26, 2020

By: XE Market Analysis

The Australian dollar tumbled to fresh major-trend lows versus the U.S. dollar following a big miss in Q4 construction data out of Australia, which contracted 3.0% q/q versus the median forecast for -1.0%. The data suggests Q4 GDP may be weaker than expected, and that's before the Q1 impact of the worst-in-decades wildfires, the sharp drop in Chinese tourist visits over the Lunar New Year period and other economic disruptions caused by the coronavirus outbreak. Read more

XE Market Analysis: Asia - Feb 25, 2020

By: XE Market Analysis

The Dollar retreated again on Tuesday, largely driven lower by Fed rate cut expectations, with 25 basis points now fully priced into the Fed fund futures market. Incoming data weighed some on the greenback as well, as consumer confidence and the Richmond Fed index both missed expectations. Read more

XE Market Analysis: North America - Feb 25, 2020

By: XE Market Analysis

The yen has picked up bids as stock markets in Europe sank and S&P 500 futures pared gains. A hiatus in risk aversion was seen for much of the Asian session before waning as markets in Europe struggled to shake off concerns about the economic impact the COVID-19 virus will have in Europe. Read more

XE Market Analysis: Europe - Feb 25, 2020

By: XE Market Analysis

Markets have have found a more even keel amid a hiatus from the virus panic. Some market commentaries point to a Wall Street Journal report on progress in developing a vaccine to COVID-19 virus. There is also remains reasons for optimism. For one, comparisons with regular flu provides perspective: Total deaths from COVID-19 stand at 2,619 worldwide (according to the John Hopkins monitor), which compares to the over 10k of deaths caused by regular flu in the U.S. Read more

XE Market Analysis: Asia - Feb 24, 2020

By: XE Market Analysis

The Dollar was broadly lower in N.Y. on Monday, with losses coming despite the sharp risk-off backdrop due to the spike in non-China coronavirus cases. Profit taking was a feature after thee DXY was unable to test the 100.0 mark seen last week, and as EUR-USD failed to trade below the trend lows seen last week. Read more

XE Market Analysis: North America - Feb 24, 2020

By: XE Market Analysis

The dollar, yen and Swiss franc have outperformed amid a backdrop of tumbling stock markets, with risk aversion picking up on news of a continued rise in coronavirus infections outside China, particularly in South Korea, the Mideast and in Italy. Many countries in the Mideast have imposed travel restrictions, while the rise in infections in Italy raised the spectre of the virus gaining a foothold in Europe. Read more

XE Market Analysis: Europe - Feb 24, 2020

By: XE Market Analysis

The dollar, yen and Swiss franc have outperformed amid a backdrop of tumbling stock markets in Asia, with risk aversion picking up on news of a continued rise in coronavirus infections outside China, particularly in South Korea, the Mideast and in Italy. Read more

XE Market Analysis: Asia - Feb 21, 2020

By: XE Market Analysis

The USD took a hit in N.Y. trade on Friday, with the Dollar index falling to a four-session low after much weaker manufacturing and services PMIs. The DXY fell to 99.24, after opening at 99.75. The data knocked stock indices lower, sending cash scrambling into Treasuries, where yields were pressured. Read more

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