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XE Market Analysis: North America - Oct 13, 2020

By: XE Market Analysis

The dollar and to a lesser extent the yen shifted higher on a bout of risk-off positioning. News that Johnson & Johnson hit the pause button on its Covid vaccine trial due to an "unexplained illness" in one of the participants was the catalyst. There are a plethora of other candidate vaccines at advanced trial stages, but the news nonetheless sparked a rush for cover before tapering off. Read more

XE Market Analysis: Europe - Oct 13, 2020

By: XE Market Analysis

The dollar is higher as risk-off positioning takes a grip in early European markets following news that Johnson & Johnson has hit the pause button on its Covid vaccine trial due to an "unexplained illness" in one of the participants. There are a plethora of other candidate vaccines at advanced trial stages, but the news nonetheless sparked a rush for cover. Read more

XE Market Analysis: North America - Oct 12, 2020

By: XE Market Analysis

The dollar and yen lifted moderately against most other currencies, breaking their usual inverse correlation with stock markets, which rallied in Europe and Asia. The biggest losers out of the main currencies were the pound and the Australian dollar, which were both showing declines of about 0.3%-0.4% at the lows. Read more

XE Market Analysis: Europe - Oct 12, 2020

By: XE Market Analysis

The dollar has been holding mostly steady and narrow ranges, though the yuan stirred things up by falling nearly 0.5% at its lows. This yuan's weakness came after the PBoC removed a bank reserve requirement on yuan forward contracts, which signalled that policymakers may have been concerned about the currency's recent gains. Read more

XE Market Analysis: Asia - Oct 09, 2020

By: XE Market Analysis

The Dollar was under pressure on Friday, leaving the DXY at three-week lows of 93.04, and three straight sessions of losses. Risk-on conditions again prevailed into the weekend, as hopes were raised for a stimulus package after Trump said he was on board with a $1.8 tln aid package. Read more

XE Market Analysis: North America - Oct 09, 2020

By: XE Market Analysis

The dollar has tracked lower amid a backdrop of overall buoyant stock markets. EUR-USD posted a three-day high at 1.1803, drawing in on the 18-day high seen on Tuesday at 1.1809. The pair needs to close out today above 1.1718-19 to rack this up as a second consecutive up week. Read more

XE Market Analysis: Europe - Oct 09, 2020

By: XE Market Analysis

The dollar is down for a third consecutive day, as measured by the narrow trade-weighted DXY USD index, which pegged a three-day low at 93.43. EUR-USD has remained buoyant, though has so far held below the 1.1781-82 highs seen over the last couple of days. Read more

XE Market Analysis: Asia - Oct 08, 2020

By: XE Market Analysis

After heading slightly higher following the steady initial jobless claims and large drop in continuing claims, the Dollar pulled back some through the morning session. The DXY peaked at 93.77 early, later slipping to 93.59 lows. USD-major trading ranges remained relatively narrow. Read more

XE Market Analysis: North America - Oct 08, 2020

By: XE Market Analysis

The dollar recouped lost ground against most peer currencies. EUR-USD settled to near net unchanged levels near 1.1750 after ebbing back from a 1.1781 high, which was set in early London trading. Dollar weakness had been a driver earlier. More dovish remarks have come from ECB policymakers, who have recently let it be known their concern about the recent rise in the euro's effective exchange rate, given its tightening impact on real interest rates at a time when new Covid restrictions are crimping economic activity. Read more

XE Market Analysis: Europe - Oct 08, 2020

By: XE Market Analysis

The dollar has traded softer, inversely correlating with rallying stock markets on Wall Street. S&P 500 E-minis are up 0.7%, while the cash version of the index closed yesterday with a 1.7% gain. Progress in the piecemeal approach to pandemic support packages in the U.S. Read more

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