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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
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
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
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
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
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
Commodity currencies have seen moderate losses against the dollar and other main currencies against a backdrop of sputtering low-volume stock market trading and a turn lower in oil prices. The Kiwi dollar led the way lower for the commodity group after a research note from Westpac hit a bearish chord by forecasting the RBNZ to take the cash rate to -0.5% in November this year. Read more
After falling to one-week lows of 99.83 overnight, the DXY headed modestly higher to 100.18 through the N.Y. morning session. As has been the case of late, trading ranges were narrow relative to the wild swings seen in March. There was no noteworthy data on tap Monday. Read more
The Australian dollar has outperformed while the U.S. dollar has underperformed amid a backdrop of rising stock markets in Asia. The narrow trade-weighted USD index dropped 0.5% in making a one-week low at 99.86, while EUR-USD concomitantly posted a five-day high at 1.0860, putting in some more distance from the one-month low that was seen last week at 1.0726. Read more
The Dollar traded slightly lower in London morning dealings, before steadying inside of narrow ranges through the N.Y. session. The DXY ranged between 100.25 and 100.49 through the U.S. session. Markets continued to look through the data, as March durable orders slid much more than expected, but had little impact on the FX market. Read more
