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about 9 days ago

XE Market Analysis: Europe - Nov 18, 2020

By: XE Market Analysis

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

about 9 days ago

XE Market Analysis: Asia - Nov 17, 2020

By: XE Market Analysis

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

about 10 days ago

XE Market Analysis: North America - Nov 17, 2020

By: XE Market Analysis

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

about 10 days ago

XE Market Analysis: Europe - Nov 17, 2020

By: XE Market Analysis

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

about 10 days ago

XE Market Analysis: Asia - Nov 16, 2020

By: XE Market Analysis

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

about 11 days ago

XE Market Analysis: North America - Nov 16, 2020

By: XE Market Analysis

The dollar has softened, and cyclical currencies have firmed as the MSCI Asia-Pacific equity index rallied over 1% to its highest level since its inception in 1987. Japan's Nikkei 225, which has been an investor favourite in the 'great rotation' into cyclical stocks, resumed its outperformance, rallying over 2% to a new best since 1991. Read more

about 11 days ago

XE Market Analysis: Europe - Nov 16, 2020

By: XE Market Analysis

The dollar has softened, and cyclical currencies have firmed as the MSCI Asia-Pacific equity index rallied over 1% to its highest level since its inception in 1987. Japan's Nikkei, which has been an investor favourite in the 'great rotation' into cyclical stocks, resumed its outperformance, rallying over 2% to a new best since 1991. Read more

about 13 days ago

XE Market Analysis: Asia - Nov 13, 2020

By: XE Market Analysis

The Dollar was modestly lower in N.Y. trade on Friday, resulting in the DXY falling from lows of 92.91 to 92.75 in early afternoon. Major Dollar pairings were largely held to narrow trading bands, but risk-on conditions weighed fairly broadly on the safe-haven Greenback. Read more

about 14 days ago

XE Market Analysis: North America - Nov 13, 2020

By: XE Market Analysis

A risk-back-on theme emerged during the London morning, which imparted a concurrent dollar and yen softening theme in currency markets while seeing commodity currencies lift out of lows. The main European stock indices has racked up gains of over 0.5%, as of the late London morning, and S&P 500 E-mini futures were up by nearly 1%, almost reversing the closing decline the cash version of the index saw on Wall Street yesterday. Read more

about 14 days ago

XE Market Analysis: Europe - Nov 13, 2020

By: XE Market Analysis

Narrow ranges have been ensuing, with a theme of yen firmness amid a backdrop of softening stock markets. Market narratives are loaded with the 'fading Covod-19 vaccine rally' phraseology due the rollout logistics and time frame. The IEA said that a Covid vaccine won't likely boost the oil market until late 2021, for instance. Read more

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