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The dollar was stuck in narrow trading ranges in N.Y. on Tuesday, though remained near its recent highs. The DXY slipped early on, bottoming at 92.97, then bouncing to 93.20. Incoming data help USD sentiment to an extent, as July new home sales surged 13.9%, the most since December 2006. Read more
The dollar and yen have softened against most currencies, while the euro has been topping the top-performing list. This dynamic has come amid risk-on positioning in global markets. Encouraging news on the U.S.-China Phase 1 trade deal, and on developments of COVID-19 treatments and vaccinations, have been tonic for investors. Read more
Most dollar pairings have remained well within their ranges from yesterday, though the dollar and yen saw mild weakness against most other currencies, outside the cases against the New Zealand and Canadian dollars. Wall Street clocked fresh record highs for the S&P 500 and NASDAQ yesterday. Read more
The DXY bounced from opening lows of 92.84, making its way to 93.28 through the morning session. There was no data to influence markets, though Wall Street was stronger amid a confluence of positive developments. President Trump announced Sunday that the FDA approved blood-plasma treatment for emergency use. Read more
The dollar's weakening bias resurfaced during the European morning session, pushing the USD index (DXY) to a low at 92.92, which marks over a 50% retrace of Friday's gain. EUR-USD concurrently lifted to a high at 1.1841, which is over 40 pips on last week's closing level. Read more
Narrow ranges have been prevailing in early-week trading. EUR-USD has been consolidating losses seen last week after the pair hit a 27-month peak at 1.1967, holding today near the 1.1800 level, up on Friday's pull-back low at 1.1754. Last week, while producing a new trend high, was the first down week EUR-USD has seen out of the last nine weeks. Read more
Friday saw the Dollar put in a little distance from the 27-month lows seen earlier in the week. The DXY topped at 93.47 up from 92.58 overnight lows, and the trend lows of 92.13 seen on Tuesday. The Greenback found some support from the uptick in the August Markit manufacturing and services PMIs, along with a record rise in existing home sales. Read more
The dollar found a footing as EUR-USD tumbled following sub-forecast preliminary August PMI data out of the eurozone. EUR-USD printed a one-week low at 1.1784, declining from a two-day peak at 1.1883. Contrasting above-forecast PMI data out of the UK sparked specific EUR-GBP selling, too, which added weight on EUR-USD's down phase. Read more
The dollar's weakening bias has resurfaced, pushing the narrow trade-weighted USD index (DXY) to a two-day low at 92.58, extending the correction from yesterday's one-week high at 93.23. The 27-month low that was seen on Tuesday is at 92.13, and the index will need to close out today in New York below 93.10 to rack this week up as the eighth down week out of the last nine weeks. Read more
The Dollar came under broad pressure from mid-morning on Thursday, as if appeared the FOMC minutes driven boost has about run its course. In the scheme of things, even if the minutes were not as dovish as expected, the Fed continues to be in uber-easing mode, continuing to buy assets while virtually targeting the yield curve. Read more
