Home > XE Currency Blog > XE Currency Blog - Market Analysis & Forex News
As was the case on Wednesday, the Dollar attempted to rally early, though ultimately ran out of gas and later turned modestly lower on the session. The DXY topped at 92.68 before falling to 92.45 lows. Incoming data was mostly better than expected. Initial claims were higher than forecasts, though continuing claims fell sharply. Read more
Currencies have been seeing relatively narrow ranges in risk-cautious trading, though the Australian and New Zealand dollars have racked up a 0.5% loss apiece versus the U.S. dollar, which has been trading with a firming bias. This has been concomitant with a pull back in commodity and global stock markets, with investors unwilling to commit fresh risk-on positions at prevailing lofty values and with northern hemisphere nations facing a tough pre-vaccine winter with regard to Covid-19 (and not just in Europe and North America, with Japan reporting a record daily rise in new positive Covid test results). Read more
The pound and euro posted respective two- and three-day lows against the dollar as anxieties about Brexit took hold, although magnitude of movement has been limited so far. Both currencies posted 10-day lows versus the yen, though fared better against the dollar bloc currencies with global stock markets and commodity markets seeing cautious trading after recent strong gains. Read more
N.Y. FX trade was very quiet on Wednesday, with major Dollar pairings held to narrow ranges. The USD attempted to rally early on, though quickly turned modestly lower. The DXY topped at 92.45, later easing to a 92.27 low. Incoming U.S. data saw October housing starts rise more than forecast, though the outcome had little market impact. Read more
The dollar continued to soften. While there has been evident caution after recent strong gains in world stock markets, markets have remained buoyant, with Europe's Stoxx 600 lifting towards yesterday's eight-month, S&P 500 E-mini futures gaining 0.3%. Read more
The dollar maintained a soft tone, posting fresh lows against the yen and the pound, while holding above Tuesday lows against the euro and others. The Australian dollar saw intraday weakness before recovering. A degree of caution has crept back in after recent strong gains in world stock markets, which propelled the MSCI World Index to a record peak, though commodities are generally firmer, particularly metals, with aluminium prices, for instance, extending recent solid gains in posting the highest levels seen since late 2018. Read more
The Dollar firmed slightly in N.Y. on Tuesday, though narrow ranges were in place for most pairings. The DXY edged up from seven-session lows of 92.27, later peaking at 92.49. Incoming U.S. data was generally supportive, as retail sales missed forecasts, though large upward revisions from August offset, while industrial production was a bit better than consensus. Read more
The dollar and commodity currencies are softer against the yen and European currencies today. The dollar didn't show its usual inverse correlation with stock markets, which came off the boil today after rallying yesterday, driving the MSCI All World index to a record high. Read more
Currencies have been seeing narrow ranges so far today after yesterday's fresh bout of risk-on positioning. The Australian and New Zealand dollars still edged out respective eight-day and eight-month highs, but there wasn't much appetite for follow-through and both currencies ebbed back. Read more
The Dollar firmed up some in London morning trade, seeing the DXY head from one-week lows of 92.47 to 92.84 in early N.Y. Risk-on conditions through the N.Y. session later weighed some on the greenback, as Wall Street jumped to record highs on the Moderna Covid vaccine news. Read more
