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FX trade was very quiet in N.Y. on Wednesday, leaving major dollar pairings inside of recent ranges. Wall Street was mostly flat on the day, while yields eased marginally. On the data front, the durables report was better than expected though had little lasting impact. Read more
OVERVIEW Sentiment is still fairly negative, as demonstrated by government bond yields which have lowered as investors seek the safety of government debt. The FX market is fairly quiet today with only second tier data released as the focus is still on concerns over German banks and the U.S. Read more
The dollar traded mixed, making gains versus an underperforming yen, lifting versus the Canadian dollar while rising and then falling against the euro. USD-JPY recouped most of yesterday's losses in making a peak of 100.81. A stabilization in oil prices, after diving nearly 3% yesterday, helped European stock markets rally, along with an abatement in concerns about Deutsche Bank. Read more
The dollar has been trading steadily so far today. USD-JPY settled around 100.50, modestly higher as JGB yields ebbed to a four-week low, and EUR-USD made time in a narrow range in the low 1.12s. There was some shifting on the crosses, with AUD-NZD edging out a six-week high and EUR-GBP a two-session low at 0.8609. Read more
A quiet day in FX Land on Tuesday saw the dollar firm up versus most major currencies in morning dealings, before turning largely sideways. Better U.S. consumer confidence helped dollar sentiment, as did risk-on conditions on Wall Street, apparently the result of perceptions that Clinton won the debate, which translates into status quo for markets. Read more
OVERVIEW New home sales in the U.S. fell less than expected in August and the overall trend remains positive. Deutsche Bank shares continue to hit record lows affecting risk sentiment across the market. German two-year bond yields hit a record low as fear grows over the health of the country's largest bank. HIGHLIGHT The first presidential debate saw Hilary Clinton and Donald Trump trade blows over policies on the economy, trade, and immigration. Read more
Markets decided that Clinton had the edge in the first presidential debate of the campaign, which prompted rallies in the Mexican peso and Canadian dollar given Trump's anti-NAFTA stance and generally protectionist views on trade. The peso was off its highs but was showing just over a 1.5% advance on the dollar as of the early European PM session. Read more
The Mexican peso and the Canadian dollar rallied on what appears to be a generally perceived victory, at least from the perspective of financial markets, for Clinton in the first presidential debate of the campaign. Trump's protectionist views on trade (he said during the debate that NAFTA was the worse trade deal that the U.S. Read more
Risk-off conditions weighed on the dollar through the N.Y. morning session on Monday, though the unit bounced some following the London close. USD-JPY remained heavy into the close however, printing 100.25 lows. EUR-USD topped at 1.1279, though eased back under 1.1260, with the announcement of Italy's constitutional referendum (December 4) prompting some position squaring. Read more
