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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

XE Market Analysis: Europe - 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 89.55, 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

XE Market Analysis: Asia - May 24, 2021

By: XE Market Analysis

The FX market was in snooze mode to start the week, with major Dollar pairings confined to narrow trading bands. The DXY topped at 89.95 early in the session, later dipping to 89.76 lows, then steadying near 89.85. There was no data of note. Wall Street headed higher, with gains coming on easing inflation concerns. Read more

XE Market Analysis: North America - May 24, 2021

By: XE Market Analysis

The euro lifted against most currencies, providing a modicum of directional action in an otherwise quiet trading among the main fiat currencies. EUR-USD recouped about three quarters of the decline the pair saw on Friday, printing an intraday high at 1.2220, which was concurrent with the 10-year Treasury yield dipping below recent two-week lows near 1.610%. Read more

XE Market Analysis: Europe - May 24, 2021

By: XE Market Analysis

The dollar has turned fractionally softer, giving back some of the gains that it saw on Friday. Ranges among the main currencies have remained narrow, and holidays across Europe today will only exacerbate the quiet conditions. The dollar's ebb has been concurrent with the 10-year Treasury yield dipping below recent two-week lows near 1.610%. Read more

XE Market Analysis: Asia - May 21, 2021

By: XE Market Analysis

The DXY printed overnight four-plus month low of 89.65 overnight, though caught a bid through the N.Y. session, largely on the back of pre-weekend short covering. The Dollar index peaked at 90.08. Incoming data saw record highs for the May manufacturing and services ISM, which was USD supportive, though existing home sales missed expectations. Read more

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