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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

XE Market Analysis: North America - Apr 30, 2020

By: XE Market Analysis

The Canadian dollar posted a fresh high as oil prices continued to surge, while most other currencies have traded with little direction so far today, into the ECB's policy announcement and the weekly economic reality check of U.S. jobless claims data. Read more

XE Market Analysis: Europe - Apr 30, 2020

By: XE Market Analysis

Narrow ranges have been prevailing in currency markets so far today, despite a rally in global stock markets on news of positive partial results from a trial of Gilead's antiviral Remdesivir drug, which showed it could speed up the recovery from Covid 19. Read more

XE Market Analysis: Asia - Apr 29, 2020

By: XE Market Analysis

The Dollar attempted to rally early in the N.Y. session on Wednesday, though later eased on the back of a weaker Q1 GDP report, and as risk-on conditions prevailed following reports that Gildead's remdesivir virus drug had potential against the pandemic. Read more

XE Market Analysis: North America - Apr 29, 2020

By: XE Market Analysis

The dollar has been trading with a softening bias so far today amid a backdrop of overall perky, but cautious global stock markets, with the commodity currencies continuing to outperform while the likes of the euro, sterling and yen left somewhere in the middle. Read more

XE Market Analysis: Europe - Apr 29, 2020

By: XE Market Analysis

The dollar has been trading with a softening bias so far today amid a backdrop of overall perky global stock markets, with the commodity currencies continuing to outperform while the likes of the euro, sterling and yen left somewhere in the middle. The risk-on vibe has been fed by the reopening of some economies, and the planned reopening in other economies, and hopes that, with sufficient measures, such as social distancing, protective equipment (masks, which, for instance, will be mandatory on Italian public transport), along with the rapid deployment of diagnostic and serological testing, that the reopenings will be feasible without causing a second wave of coronavirus infections. Read more

XE Market Analysis: Asia - Apr 28, 2020

By: XE Market Analysis

The DXY recovered from the two-week lows of 99.45 seen into the Tuesday N.Y. open, rallying back to 99.94 through the morning session. Today's economic reports were mixed, with the current April consumer confidence and Richmond Fed headline indexes dropping sharply, but each showed gains for the 6-month figures. Read more

XE Market Analysis: North America - Apr 28, 2020

By: XE Market Analysis

The dollar has taken a rotation lower concomitantly with a pick up in risk appetite during the London AM session, which saw European stock markets and U.S. equity index futures rally following a low-volume sputtering price action in Asian markets. A paring in steep intraday oil price declines was in the mix. Read more

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