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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

XE Market Analysis: Europe - Jul 24, 2020

By: XE Market Analysis

The yen has outperformed today as risk aversion took a firm grip on global markets. The dollar has so far failed to pick up safe haven demand, and has remained on a softening path. The narrow trade-weighted USD index (DXY) carved out a fresh 22-month low at 94.57. Read more

XE Market Analysis: Asia - Jul 23, 2020

By: XE Market Analysis

The DXY fell to levels last seen in September of 2018 in N.Y. on Thursday, as virus fears become heightened, and sentiment on U.S. growth going forward continues to slip. Today's jobless claims were quite a bit higher than forecasts, which dented the Dollar, weighed heavily on stocks, and pressured Treasury yields. Read more

XE Market Analysis: Europe - Jul 23, 2020

By: XE Market Analysis

The dollar has continued to track lower, despite a backdrop of flagging stock markets in Asia, although U.S. equities closed with moderate gains yesterday and S&P 500 futures are showing a modest rise in overnight trading. The narrow trade-weighted USD index (DXY) printed a fresh four-and-a-half-month high at 94.82, drawing in on the early March low at 94.66, which was the lowest level seen since August 2018. Read more

XE Market Analysis: Asia - Jul 22, 2020

By: XE Market Analysis

Aside from USD-JPY, which rose modestly, the Dollar headed lower into the N.Y. open, and largely stayed down through the session. The DXY printed fresh four-plus month lows of 94.83. For data, U.S. existing home sales rebounded a record 20.7% to 4.720 in June following the -9.7% drop to 3.910 mln in May and the -17.8% April plunge to 4.330 mln. Read more

XE Market Analysis: North America - Jul 22, 2020

By: XE Market Analysis

A surge in the euro and a plunge in the pound have been the dominant theme in forex markets. The dollar and yen remained soft against most currencies, and the Australian and New Zealand dollars pegged fresh trend highs despite flagging risk appetite in global markets. Read more

XE Market Analysis: Europe - Jul 22, 2020

By: XE Market Analysis

The euro, along with the Aussie and Kiwi dollars, posted fresh highs against the dollar and yen, despite a backdrop of flagging stock markets. EUR-USD reached its highest level since January 2019, at 1.1547, the culmination of what has now been a five-week rally. Read more

XE Market Analysis: Asia - Jul 21, 2020

By: XE Market Analysis

Risk-on conditions, driven by good news on the vaccine front and the EU deal on a pandemic recovery fund, saw the Dollar under pressure in N.Y. on Tuesday, taking the DXY to four-plus month lows of 95.20, down from early highs of 95.80. Unwinding of safe-haven flows weighed on all the major USD pairings. Read more

XE Market Analysis: North America - Jul 21, 2020

By: XE Market Analysis

A risk-on positioning formation has been ensuing in currency markets, which has meant dollar and yen underperformance alongside commodity currency outperformance. The narrow trade-weighted USD index edged out a fresh three-and-a-half month low at 95.62, which is a culmination of a clear three-week downtrend. Read more

XE Market Analysis: Europe - Jul 21, 2020

By: XE Market Analysis

The narrow trade-weighted USD index edged out a fresh three-and-a-half month low at 95.65, which is a culmination of a clear three-week downtrend. The euro is trading at modestly softer levels against the dollar and most other currencies, with the forex market looking to have priced-in the green lighting of the EU recovery fund. Read more

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