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XE Market Analysis: Asia - Jun 10, 2020

By: XE Market Analysis

The DXY was modestly lower in N.Y. morning trade, though inside of relatively narrow ranges ahead of the FOMC. Following the policy announcement, the Dollar edged initially higher, then fell following the FOMC announcement, where no policy changes were made, as-expected. Read more

XE Market Analysis: North America - Jun 10, 2020

By: XE Market Analysis

The dollar pared intraday losses as European stock markets declined and U.S. equity index futures tipped lower, reversing overnight gains. A combo of lofty valuations and the proximity of the Fed policy announcement later today, which if nothing else is likely to reaffirm that further central bank stimulus is unlikely (unless the recovery from April's economic nadir falters), elicited a position-trimming mood in markets. Read more

XE Market Analysis: Europe - Jun 10, 2020

By: XE Market Analysis

The dollar has traded softer, though remained above recent lows against most currencies. Stock markets have remained buoyant, but with waning momentum. The Nasdaq hit a fresh record high, while the MSCI Asia-Pacific index hit a fresh three-month high today, and though upside momentum flagged, S&P 500 and Nasdaq futures were still showing gains of 0.3% and 0.4%, as of the early London session. Read more

XE Market Analysis: Asia - Jun 09, 2020

By: XE Market Analysis

The DXY hit a fresh three-month low in N.Y. on Tuesday, bottoming at 96.23, down from 96.80 at the open, and from the 98.32 highs seen on June 1. Lower Treasury yields, and weak data appeared to weigh on the USD. Wholesale sales along with a near million drop in the JOLTS job openings were the culprits. Read more

XE Market Analysis: North America - Jun 09, 2020

By: XE Market Analysis

The yen rallied and the commodity currencies corrected as risk appetite turned sour. The dollar also gained versus most currencies, though still underperformed the yen. The risk-sensitive AUD-JPY led the way, racking up a 2% intraday loss, while AUD-USD dove by 1.5%. Read more

XE Market Analysis: Europe - Jun 09, 2020

By: XE Market Analysis

Yen crosses, led by risk-sensitive AUD-JPY, have come under pressure as the lofty levels -- AUD-JPY posted a 13-month last week while AUD-USD today hit an 11-month peak -- encouraged profit taking. AUD-JPY has dropped by over 1.3% today, while AUD-USD has lost nearly 1%. Read more

XE Market Analysis: Asia - Jun 08, 2020

By: XE Market Analysis

FX trade was fairly quiet in N.Y to start the week, though the Dollar overall remained under some pressure. The DXY traded from just over 97 to lows of 96.66 by late morning. There was no incoming data to move markets, though Wall Street posted further gains, and Treasury yields edged higher as economic reopening hopes strengthened. Read more

XE Market Analysis: North America - Jun 08, 2020

By: XE Market Analysis

The dollar majors have remained in narrow ranges so far today, despite the continuing positive vibe from Friday's unexpectedly encouraging U.S. May employment report. The data added fuel to the view that the global economic rebound from the pandemic nadir in April will be solid. Read more

XE Market Analysis: Europe - Jun 08, 2020

By: XE Market Analysis

The dollar majors have remained in narrow ranges so far today, despite rallying Asia-Pacific stock markets, which have been reacting to Friday's unexpectedly encouraging U.S. May employment report, which added fuel to the view that the global economic rebound from the pandemic nadir in April will be solid. Read more

XE Market Analysis: Asia - Jun 05, 2020

By: XE Market Analysis

The DXY recovered some ground following the shock non-farm payroll increase, though not before printing new near three-month lows of 96.44. The index subsequently bounced to 97.01 highs at mid-morning in N.Y. The incredible 2.51 mln increase in jobs set risk-on into motion, resulting in steep gains on Wall Street, (the NASDAQ recorded all-time highs), and sharply higher Treasury yields. Read more

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