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XE Market Analysis: North America - May 28, 2021

By: XE Market Analysis

The dollar has remained underpinned by a rise in longer-dated Treasury yields, with the 10-year T-note yield lifting to the 1.61-62% area, up about 6-7 bp from the midweek lows. News that U.S. President Biden will present his $6 tln lifted Treasury yields. Read more

XE Market Analysis: Europe - May 28, 2021

By: XE Market Analysis

The dollar has remained underpinned by a rise in longer-dated Treasury yields, with the 10-year T-note yield lifting above 1.62%, up about 7 bp from the midweek lows. News that U.S. President Biden will present his $6 tln (which includes the near $2 tln for pandemic relief, and the $4 tln for a decade long infrastructure and social spending plan) lifted Treasury yields and gave stock markets a boost, despite Biden's administration indicating that it is aiming to make a capital gains tax increase retroactive to April. Read more

XE Market Analysis: Asia - May 27, 2021

By: XE Market Analysis

The Dollar firmed up in morning trade, pulled back some, then turned modestly higher at mid-session. Moves were modest, leaving the DXY inside a 90.09 to 89.92 trading range. Incoming data were mixed, seeing a miss in durable orders and pending home sales, while revised GDP was unchanged from the preliminary release, a but light of expectations. Read more

XE Market Analysis: North America - May 27, 2021

By: XE Market Analysis

The dollar lifted to a one-week high by the measure of the DXY index, at 90.18, extending the rebound from the four-month low that was seen on Tuesday at 89.54. This comes with 10-year Treasury yields having ticked higher, back towards 1.60% from yesterday's lows near 1.55%, which were lowest levels since 22 April. Read more

XE Market Analysis: Europe - May 27, 2021

By: XE Market Analysis

The dollar has lifted to a one-week high by the measure of the DXY index, at 90.18, extending the rebound from the four-month low that was seen on Tuesday at 89.54. This comes with 10-year Treasury yields ticking higher, despite a well absorbed 5-year auction yesterday, after falling to the lowest level since 22 April. Read more

XE Market Analysis: Asia - May 26, 2021

By: XE Market Analysis

The DXY reclaimed the 90 handle in N.Y. on Wednesday, with short covering ahead of key U.S. data the likely driver. The USD posted gains against all its major counterparts, in anticipation of the slew of data due Thursday and Friday, including the Fed's favored inflation indicator, the PCE deflator on Friday. Read more

XE Market Analysis: North America - May 26, 2021

By: XE Market Analysis

The New Zealand dollar bolted higher on the back of projections in the RBNZ's monetary policy statement showing a possible hike in the OCR (overnight cash rate) in the second half of 2022. The antipodean currency rallied over 1% in clocking a three-month high against the U.S. Read more

XE Market Analysis: Europe - May 26, 2021

By: XE Market Analysis

The New Zealand dollar bolted higher on the back of projections in the RBNZ's monetary policy statement showing a possible hike in the OCR (overnight cash rate) in the second half of 2022. The antipodean currency rallied over 1% in clocking a three-month high against the U.S. Read more

XE Market Analysis: Asia - May 25, 2021

By: XE Market Analysis

The Dollar found a modicum of support in N.Y. trade on Tuesday, though moved up from fresh four-plus month lows. The DXY bottomed at 89.54 in London morning, later rallying to 89.85 in early afternoon. Incoming U.S. data was disappointing, seeing new home sales slip more than expected, consumer confidence missing the mark, and the Richmond Fed index improving slightly, as expected. Read more

XE Market Analysis: North America - May 25, 2021

By: XE Market Analysis

The dollar has hit a near four-month low by the measure of the narrow trade-weighted DXY USD index. The new low is 89.53, and the three-year low that was seen in the first week of January, at 89.21, is back in scope. The low in January was seen just ahead of the Georgia run-off elections that swung the balance of power in the Senate to the Democrats, which paved the way for the super-sizing of fiscal stimulus policy, which in turn supported the dollar during Q1 on the view that the outsized spending would force the Fed to taper monetary stimulus sooner rather than later. Read more

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