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XE Market Analysis: Asia - May 05, 2020

By: XE Market Analysis

The DXY printed one-week highs of 99.97 into the open on Tuesday, up from the 99.33 low seen in London morning trade. The Dollar pulled back some in early N.Y. trade, later recovering to near unchanged on the session. Incoming data saw the March trade deficit wide, while the services ISM fell less than expected, but still to 11-year lows. Read more

XE Market Analysis: North America - May 05, 2020

By: XE Market Analysis

The dollar and yen have risen against most currencies during the European morning, correcting some of the losses seen against the commodity currencies during the Asia-Pacific session. The two currencies, which have broken the recent correlative pattern by rising despite a backdrop of buoyant global stock markets, were the main benefactors of broad euro weakness. Read more

XE Market Analysis: Europe - May 05, 2020

By: XE Market Analysis

The dollar ebbed back a little while the commodity currencies lifted moderately as stock markets mustered up gains. Many economies are already in or heading to a phased reopening from lockdowns, while there was a lack of follow-through (so far) on U.S. Read more

XE Market Analysis: Asia - May 04, 2020

By: XE Market Analysis

The DXY rallied from Asian opening lows of 99.09 to 99.60 highs during the N.Y. session, driven largely by EUR-USD losses. Major Dollar pairing ranges were relatively narrow again, as has been the case of late. For data, the March factory report was weak, but near expectations, resulting in little market impact. Read more

XE Market Analysis: North America - May 04, 2020

By: XE Market Analysis

The dollar has lifted across-the-board on a safe-haven bid against a backdrop of tumbling stock markets in Europe and Asia, and with S&P 500 futures racking up losses of about 1%. Both Japanese and Chinese markets were closed, with both countries an extended public holiday periods. Read more

XE Market Analysis: Europe - May 04, 2020

By: XE Market Analysis

The dollar has lifted across-the-board amid a safe-haven bid against a backdrop of tumbling stock markets in Asia. Trading conditions have been thin with both Japan and China amid a week-long holiday period. The narrow trade-weighted USD index lifted above its Friday peak in making a high at 99.46, gaining about 0.9% from the lows. Read more

XE Market Analysis: Asia - May 01, 2020

By: XE Market Analysis

The Dollar stumbled early in the N.Y. session on Friday, taking the DXY to one-month lows of 98.79. The USD later perked up some, with short covering into the weekend reported. Incoming data was weak, though better than consensus forecasts. The April manufacturing ISM came in at 41.5, while March construction spending rose, against forecasts for a decline. Read more

XE Market Analysis: North America - May 01, 2020

By: XE Market Analysis

The yen has outperformed while commodity currencies have underperformed amid a sharp phase of risk-off positioning. The dollar traded mixed, losing ground to the yen and euro, among other currencies, while gaining on the Australian and Canadian dollars, among others. Read more

XE Market Analysis: Europe - May 01, 2020

By: XE Market Analysis

The commodity currencies have come under pressure after U.S. President Trump soured the mood in equity markets, raising his accusations against China about the coronavirus outbreak, threatening new tariffs while, according to an unnamed source connected to the White House cited by Bloomberg, considering blocking a government fund -- the Thrift Savings Plan (which is the federal government's retirement savings fund -- from investing in Chinese equities. Read more

XE Market Analysis: Asia - Apr 30, 2020

By: XE Market Analysis

After an early attempt to rally, the Dollar headed lower against the Euro and Pound in particular, taking the DXY to near three-week lows of 98.92. Much weaker incoming U.S. data, including another huge increase in jobless claims, and a plunge in earnings and consumption were drivers of USD weakness, though month-end flows were noted as well. Read more

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