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XE Market Analysis: North America - Feb 10, 2020

By: XE Market Analysis

The dollar has consolidated gains seen on Friday following the robust employment report out of the U.S. The coronavirus death toll surpasses that for the SARS outbreak of 2002-2, and there remains as yet little concrete sign that the rate of spread of the virus is abating, which has fed a sputtering price action in Asian and European stock markets today, despite Wall Street having scaled to new record highs on Friday. Read more

XE Market Analysis: Europe - Feb 10, 2020

By: XE Market Analysis

Narrow ranges have been prevailing for the most part in early week trading among the main currencies, though the Australian dollar managed a near 0.5% gain, rebounding after hitting an 11-year low against the U.S. dollar on Friday. AUD-USD posted a high at 0.6707, which retraced just over half of the decline seen on Friday. Read more

XE Market Analysis: Asia - Feb 07, 2020

By: XE Market Analysis

Another day, another Dollar rally, taking the DXY to a new four-month peak. The index printed higher daily highs four days running this week, with gains largely coming on the back of solid incoming U.S. data, culminating with a strong January jobs report on Friday. Read more

XE Market Analysis: North America - Feb 07, 2020

By: XE Market Analysis

The yen rallied amid rekindling safe haven demand amid the unrelenting rise and spread in coronavirus cases, which has hampering economic activity across China and Asia as a consequence of the measures being taken to tamp down the pandemic. S&P 500 futures dropped by 0.5%, correcting after the cash version of the index hit a record high on Wall Street yesterday, while Europe's STOXX 600 equity index was showing a similar magnitude of loss (as of the late London morning). Read more

XE Market Analysis: Europe - Feb 07, 2020

By: XE Market Analysis

The dollar has remained broadly underpinned following the round of solid U.S. data releases on Thursday, including upbeat consumer confidence and a stabilization in manufacturing after passage of the trade deals. This along with and massive liquidity injections from China helped boost equities, and sent Wall Street and European markets to record highs yesterday, despite ongoing concerns about the coronavirus. Read more

XE Market Analysis: Asia - Feb 06, 2020

By: XE Market Analysis

The DXY rallied to near four-month highs of 98.57 in N.Y. trade on Thursday, continuing to be driven higher by mostly outperforming U.S. economic data. Friday's January employment report will be key going into the weekend, where risk to the NFP print would appear to be to the upside following sharp gains revealed by the ADP report on Wednesday. Read more

XE Market Analysis: North America - Feb 06, 2020

By: XE Market Analysis

The yen posted fresh lows versus the dollar and Australian dollar, among some other currencies, as global stock markets continued to rally at an accelerated pace. China announced it will halve tariffs on some U.S. imports, in accordance with the phase-1 trade deal. Read more

XE Market Analysis: Europe - Feb 06, 2020

By: XE Market Analysis

The yen posted fresh lows versus the dollar and Australian dollar, among some other currencies, as global stock markets continued to rally at an accelerated pace. China announced it will halve tariffs on some U.S. imports, in accordance with the phase-1 trade deal. Read more

XE Market Analysis: Asia - Feb 05, 2020

By: XE Market Analysis

A strong ADP employment report supported the Dollar through the N.Y. session on Wednesday, taking the DXY to two-month highs of 98.29 from 97.91 overnight lows. A better than expected services ISM added to the USD's bid tone. Wall Street and Treasury yields moved higher as well. Read more

XE Market Analysis: North America - Feb 05, 2020

By: XE Market Analysis

The dollar has traded mixed while the yen has softened against most currencies amid a backdrop of rallying global stock markets. USD-JPY printed a two-week high at 109.72, extending the rebound from the four-week low seen last Friday at 108.30. The prevailing dominant view is that the coronavirus and its impact will be temporary while the stimulus efforts by China will have a positive impact. Read more

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