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XE Market Analysis: Asia - Sep 03, 2020

By: XE Market Analysis

The DXY headed up to 93.01 in late morning trade, after bottoming earlier at 92.77. The USD then faded in relatively light trade through much of the afternoon session. Weekly jobless claims were lower than expected, though the data were impacted by a change in the seasonal adjustment methodology, while the July trade deficit blew out to the highest levels since 2008. Read more

XE Market Analysis: North America - Sep 03, 2020

By: XE Market Analysis

The dollar is up for a third straight day as measured by the narrow trade-weighted DXY index, which posted a six-day high at 93.06, which further extended the rebound from Tuesday's 28-month low at 91.75. EUR-USD concurrently posted a one-week low at 1.1789, before an unexpected upward revision in the final Eurozone services PMI headline for August, to 50.5 from the prelim 50.1 reading, helped stabilize the euro, despite a -1.3% m/m outcome in July Eurozone retail sales. Read more

XE Market Analysis: Europe - Sep 03, 2020

By: XE Market Analysis

The dollar is up for a third straight day as measured by the narrow trade-weighted DXY index, which posted a six-day high at 93.03, further extending the rebound from Tuesday's 28-month low at 91.75. EUR-USD concurrently posted a one-week low at 1.1795. Read more

XE Market Analysis: Asia - Sep 02, 2020

By: XE Market Analysis

The Dollar posted modest gains in N.Y. on Wednesday, adding to the overnight advance. The driver of the USD move higher was comments from ECB chief economist Lane, who added a small dose of "verbal intervention, saying that the rise of the EUR is not a target for the central bank per se, EUR-USD is of course an important factor for the ECB's assessment of the inflation outlook. Read more

XE Market Analysis: North America - Sep 02, 2020

By: XE Market Analysis

The dollar built on the rebound that commenced from yesterday's trend lows, when above-forecast U.S. economic data and fresh record highs on Wall Street prompted some profit taking on short positions. The narrow trade-weighted USD index (DXY) posted a five-day high at 92.68. Read more

XE Market Analysis: Europe - Sep 02, 2020

By: XE Market Analysis

Narrow ranges have been prevailing among the main currencies so far today. The dollar managed to lift modestly, recovering slightly from the trend lows of yesterday. EUR-USD ebbed to a two-day low at 1.1885, extending a correction from Tuesday's 28-month peak at 1.2012. Read more

XE Market Analysis: Asia - Sep 01, 2020

By: XE Market Analysis

The DXY hit new 28-month lows of 91.75 during the overnight session, opening in N.Y. 91.85. The Dollar then rose modestly on short covering interest, then advanced to session highs following the better then expected August manufacturing ISM. The Dollar index hit a top of 92.38 following the data. Read more

XE Market Analysis: North America - Sep 01, 2020

By: XE Market Analysis

The dollar weakening trend has continued. The narrow trade-weighted USD index (DXY) fell to a new trend low at 91.75, a level last seen in April 2018. Bearishness about the U.S. currency abounds, especially in the wake of Fed's lower-for-longer regime shift on interest rates. Read more

XE Market Analysis: Europe - Sep 01, 2020

By: XE Market Analysis

The dollar weakening theme continued into the London interbank open today. The narrow trade-weighted USD index (DXY) fell to a new trend low at 91.78, a level last seen in April 2018. The dollar, by this measure, is down by nearly 11% from the near four-year high that was seen back in March. Read more

XE Market Analysis: Asia - Aug 31, 2020

By: XE Market Analysis

The DXY printed fresh 28-month lows of 92.01 in N.Y. trade on Monday. Dollar bears have been the winners of late, following the Fed's shift in inflation policy, which should keep U.S. rates near zero for the foreseeable future, and keep the USD under pressure. Read more

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