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XE Market Analysis: Europe - Aug 08, 2019

By: XE Market Analysis

Comparative calm, and comparatively narrow ranges have been ensuing so far today. The main theme has been a moderate decline in the Yen amid a backdrop of recouping stock markets. USD-JPY has settled in the lower 106.00s, above the seven-month low seen yesterday at 105.49. Read more

XE Market Analysis: Asia - Aug 07, 2019

By: XE Market Analysis

The Dollar slipped in N.Y. morning trade on Wednesday, taking the DXY from 97.67 to 97.33, before recovering to 97.58. There was no data to drive prices, though price action was choppy, as overnight rate cuts surprised, and as trade turmoil remains. Wall Street slid sharply at the open, though managed to recover most losses into the close. Read more

XE Market Analysis: Central Banks Deploy Parachutes to Avoid a Hard Economic Landing

By: xemarketanalysis

OVERVIEW RBNZ (-50 bps) and RBI (-35 bps) chopped their benchmark rates over growing external uncertainties. EUR/USD is oscillating around 1.12, bouncing from its lowest level in two years. Read more

XE Market Analysis: North America - Aug 07, 2019

By: XE Market Analysis

The Dollar has traded generally firmer in active markets. The New Zealand Dollar dove over 2% in hitting its lowest level against the U.S. Dollar since January 2016, at 0.6377, and sank to near seven-year lows in the case against the Yen. This followed a 50 bp rate cut by the RBNZ -- the first cut of such magnitude since 9/11 -- which put the cash rate at an all-time low 1.00% and which was pinned on flagging growth conditions as a consequence of simmering trade tensions and a global economic slowdown. Read more

XE Market Analysis: Europe - Aug 07, 2019

By: XE Market Analysis

The New Zealand Dollar dove over 2% in hitting its lowest level against the U.S. Dollar since January 2016, at 0.6377, and sank to near seven-year lows in the case against the Yen. This followed a more aggressive than expected 50 bp rate cut by the RBNZ, putting the cash rate at an all-time low 1.00%, which was pinned on flagging growth conditions as a consequence of simmering trade tensions and a global economic slowdown. Read more

XE Market Analysis: Asia - Aug 06, 2019

By: XE Market Analysis

The Dollar index ended Tuesday's session near unchanged from opening levels. The DXY started at 97.65, advance to 97.76, before falling back to 97.52, then settling in near 97.65. There was no incoming U.S. data to drive the FX market, and for the most part, traders appeared to just jockey for position until the next major event hits the newswires. Read more

XE Market Analysis: North America - Aug 06, 2019

By: XE Market Analysis

The Dollar has continued to trade mixed, approaching the New York interbank open at near net unchanged levels versus the Euro, while trading firmer versus the Yen and lower against the Australian and New Zealand Dollars. EUR-USD settled near 1.1200 after printing 18-day high at 1.1249. Read more

XE Market Analysis: Europe - Aug 06, 2019

By: XE Market Analysis

High volatility has been the flavour of the day, with the Yen dropping sharply after posting fresh trend highs during the Tokyo AM session. The Japanese currency's highs were seen after U.S. Treasury Secretary Mnuchin officially stamped China as a currency manipulator, while the Yen's fallback was see after the PBoC produced a lower than expected USD-CNY fixing, at 6.9683, which followed a statement by the central bank governor, Yi Gang, that Beijing will stick to commitments "not to use exchange rates for competitive purposes." USD-JPY surged to a rebound high of 107.09 after earlier printing a seven-month low at 105.52. Read more

XE Market Analysis: Asia - Aug 05, 2019

By: XE Market Analysis

The Dollar lost ground in N.Y. trade on Monday, the move driven largely by ramped up expectations for a September Fed rate cut, following the escalation of the U.S./China trade war. China's devaluation of the yuan, along with its cessation of purchasing U.S. Read more

XE Market Analysis: North America - Aug 05, 2019

By: XE Market Analysis

The Dollar has been trading mixed amid a risk-off backdrop, which has seen the safe-haven yen outperform and the commodity-correlating Dollar bloc currencies, along with a good many developing world currencies, underperform. China's Yuan fell to an 11-year low below the politically sensitive 7.0 to the dollar level, which the PBoC blamed on "trade protectionism," and which has the potential to mark the point at which the trade war goes from simmering to boiling. Read more

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