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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

XE Market Analysis: North America - Jun 05, 2020

By: XE Market Analysis

The dollar picked up bids following remarks from China's foreign secretary, who said that Beijing will take "countermeasures" against 33 U.S. entities. This sparked demand for the dollar as risk sentiment soured, causing a dip-from-highs in S&P 500 futures. Read more

XE Market Analysis: Europe - Jun 05, 2020

By: XE Market Analysis

The dollar and yen have resumed a weakening path, while the likes of the Australian and New Zealand dollars have led the outpeforming pack amid a backdrop of resuming risk-on positioning in global markets. The MSCI Asia-Pacific equity index is set to close out today with its biggest one-week rally since 2011. Read more

XE Market Analysis: Asia - Jun 04, 2020

By: XE Market Analysis

Thursday was another rough day for the Dollar, as the DXY slipped to new near three-month lows of 96.60, down from opening highs of 97.54. The main driver of USD weakness remains the discounting of the Greenback's save-haven premium. Higher than consensus weekly jobless claims, along with a wider April trade deficit had only limited impact. Read more

XE Market Analysis: North America - Jun 04, 2020

By: XE Market Analysis

The dollar and yen lifted today, benefiting from a correction in recent risk-off positioning in currency markets. This has seen both the dollar and yen recover some lost ground versus most other currencies, with the commodity currency group now playing an underperforming role. Read more

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