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XE Market Analysis: Asia - May 19, 2021

By: XE Market Analysis

After advancing modestly in London morning trade, the Dollar pulled back through the N.Y. morning session. Overnight, the DXY matched the three-month low of 89.69 seen on Tuesday, later topping at 90.04, then slipping to 89.76 at mid-morning. The minutes from the April 27-28 FOMC meeting got some market reaction, with the Dollar heading higher after the Fed said “a number of participants suggested that if the economy continued to make rapid progress toward the Committee’s goals, it might be appropriate at some point in upcoming meetings to begin discussing a plan for adjusting the pace of asset purchases". Read more

XE Market Analysis: North America - May 19, 2021

By: XE Market Analysis

The dollar lifted out of lows as risk appetite soured in global asset markets, while the dollar bloc and other cyclical currencies wobbled. A side theme was provided by the euro, which managed to whittle out across-the-board gains, which saw EUR-USD print a four-month high at 1.2245, EUR-JPY a 37-month high, EUR-GBP a two-day peak, and EUR-AUD a three-month high. Read more

XE Market Analysis: Europe - May 19, 2021

By: XE Market Analysis

The euro has whittled out across-the-board gains, which has seen, for instance, seen EUR-USD print a four-month high at 1.2245, EUR-JPY a 37-month high, EUR-GBP a two-day peak, and EUR-AUD a three-month high. There has been no specific catalyst, though market commentaries have for some time been recognizing the rapid improvement in the Covid situation across most of continental Europe amid a combo of accelerating vaccination supply and distribution. Read more

XE Market Analysis: Asia - May 18, 2021

By: XE Market Analysis

The Dollar was broadly lower in N.Y. on Tuesday, leaving the DXY near three-month lows of 89.69. Stalling Treasury yield rises have dented USD sentiment this week, following the spike up seen last week following hot U.S. prices data. The rise in rates, saw the Greenback head higher as well. Read more

XE Market Analysis: North America - May 18, 2021

By: XE Market Analysis

The dollar has tracked lower, which shouldn't be too surprising given the prevailing buy-in of the Fed's transitory narrative on inflation alongside the fact that the U.S. inflation rate is markedly higher versus peers, which imparts (all else equal) a weakening dynamic on the nominal value of the greenback. Read more

XE Market Analysis: Europe - May 18, 2021

By: XE Market Analysis

The dollar has tracked lower, which shouldn't be too surprising given the prevailing buy-in of the Fed's transitory narrative on inflation alongside the fact that the U.S. inflation rate is markedly higher versus peers, which imparts (all else equal) a weakening dynamic on the nominal value of the greenback. Read more

XE Market Analysis: Asia - May 17, 2021

By: XE Market Analysis

The Dollar softened some in N.Y. trade on Friday, though ranges remained relatively narrow. Misses in U.S. data were a contributing factor, as retail sales, industrial production and consumer sentiment outcomes all missed the mark. The DXY opened over 90.50, later bottoming at 90.28 before steadying near 90.40. Read more

XE Market Analysis: North America - May 17, 2021

By: XE Market Analysis

The dollar has been plying narrow ranges against peers for the most part. The DXY index still edged out its lowest level seen since last Wednesday, before the U.S. CPI release, at 90.28, before settling in a modestly higher range. The 10-year U.S. T-note yield touched a low today at 1.607%, about 10 bp down on the post-CPI peak, before lifting back above 1.630%. Read more

XE Market Analysis: Europe - May 17, 2021

By: XE Market Analysis

The dollar majors have been trading narrowly mixed. The yen saw some movement, softening into the Tokyo fix before trending moderately higher thereafter amid a risk-wary sentiment in Asia, with the Japanese currency attracting some safe haven demand. This saw EUR-JPY turn lower after pegging a fresh 32-month high just ahead of the Tokyo fixing. Read more

XE Market Analysis: Asia - May 14, 2021

By: XE Market Analysis

The Dollar softened some in N.Y. trade on Friday, though ranges remained relatively narrow. Misses in U.S. data were a contributing factor, as retail sales, industrial production and consumer sentiment outcomes all missed the mark. The DXY opened over 90.50, later bottoming at 90.28 before steadying near 90.40. Read more

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