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XE Market Analysis: Europe - Jul 30, 2020

By: XE Market Analysis

The dollar has managed a rebound from post-Fed lows, with the narrow trade-weighted USD index lifting above 93.50 after pinning a fresh 25-month low at 93.18. Fed Chairman Powell gave an unambiguously strong commitment to continued ultra-accommodative policy ("not even thinking about thinking about thinking raising rates"), though there were no changes in terms of the 0%-0.25% rate band, QE, or hints on forward guidance. Read more

XE Market Analysis: Asia - Jul 29, 2020

By: XE Market Analysis

The DXY was moderately lower though the N.Y. morning session, with trade cautious ahead of the FOMC announcement. Incoming early data saw the advance June goods trade deficit narrow more than expected, and pending home sales for June soar. The dollar headed lower following the FOMC announcement, where the statement said the ongoing pandemic "will weigh heavily on economic activity, employment, and inflation in the near term, and poses considerable risks to the economic outlook over the medium term." Powell started the press conference saying the path forward for the economy remains "extraordinarily" uncertain. Read more

XE Market Analysis: North America - Jul 29, 2020

By: XE Market Analysis

The dollar has been trading soft-to-steady, seeing new lows against some currencies and nudging the narrow trade-weighted USD index to a new 25-month low at 93.40. EUR-USD is showing modest gains, though has also remained with its Tuesday range and below the 22-month high see yesterday at 1.1782. Read more

XE Market Analysis: Europe - Jul 29, 2020

By: XE Market Analysis

The dollar is amid a second of trading steadily, consolidating the sharp declines seen over the prior 10 days. The narrow trade-weighted USD index has posted a 93.60-80 range so far today, holding within yesterday's range and above the 25-month low that was seen on Monday at 93.68. Read more

XE Market Analysis: Asia - Jul 28, 2020

By: XE Market Analysis

The Dollar stemmed its recent bleeding in N.Y. on Tuesday, though gains overall were modest. The DXY managed to hold above the two-year low seen Monday, bottoming at 93.50 before bouncing to 94.01 into the open. Incoming data was mixed, with June consumer confidence weaker than expected, and the July Richmond Fed index posting a slightly better outcome. Read more

XE Market Analysis: Asia - Jul 27, 2020

By: XE Market Analysis

The DXY fell to two-year lows of 93.48 in N.Y. on Monday, down from 94.40 highs seen in Asian hours. Incoming data has the June durables report, where order rose a better than consensus 7.3%. As has been the case of late, there was little if any market reaction. Read more

XE Market Analysis: North America - Jul 27, 2020

By: XE Market Analysis

The dollar continued to decline, printing fresh trend highs against the euro and other currencies. The narrow trade-weighted USD index (DXY) fell over 0.5% to a 22-month low at 93.76 in what is now the seventh consecutive day of decline and the fourth straight week the index has surpassed its prior-week low. Read more

XE Market Analysis: Europe - Jul 27, 2020

By: XE Market Analysis

The dollar continued to drop, printing fresh trend highs against the euro and other currencies. The narrow trade-weighted USD index (DXY) fell over 0.5% to a 22-month low at 93.84 in what is now the seventh consecutive day of decline and the fourth straight week the index has surpassed its prior-week low. Read more

XE Market Analysis: Asia - Jul 24, 2020

By: XE Market Analysis

The DXY fell to fresh 22-month lows of 94.36 in N.Y. on Friday, marking the fifth-straight session of lower daily highs and lows. The Dollar appears to be relinquishing its role as a safe-haven currency over the past several sessions, as another risk-off session did not support the USD as had been the case for some weeks. Read more

XE Market Analysis: North America - Jul 24, 2020

By: XE Market Analysis

The yen has outperformed as risk aversion took a firm grip on global markets, though the risk-off theme was paused by above-forecast readings in preliminary July PMI survey data out of Europe. The dollar has remained on a softening path, with the narrow trade-weighted USD index (DXY) carving out a fresh 22-month low at 94.57. Read more

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