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about 2 months ago

XE Market Analysis: Europe - Oct 23, 2019

By: XE Market Analysis

The pound has taken a rotation lower following the UK Parliament's rejection of PM Johnson's program bill to fast track the ratification of the EU withdrawal legislation. This means that Brexit will not happen on October 31, unless the EU decided to refuse an extension -- which is highly unlikely, as Brussels will not want to get the blame for a no-deal Brexit scenario (the pound would be crashing if markets believed that it was of a mind not to grant an extension). Read more

about 2 months ago

XE Market Analysis: Asia - Oct 22, 2019

By: XE Market Analysis

The Dollar was a bit lower in N.Y. on Tuesday, though generally rangebound overall. Softer existing home sales has little impact, while Treasury yields were slightly lower, and Wall Street mixed. The USD has traded significantly lower since the start of the month, in large part due to Brexit driven gains seen in the Pound and Euro, but also soft-ish U.S. Read more

about 2 months ago

XE Market Analysis: Europe - Oct 22, 2019

By: XE Market Analysis

Commodity currencies posted fresh highs while the yen retained a softening bias amid a backdrop of rising global equity markets following upbeat rhetoric from both the U.S. and Chinese officials. Q3 corporate earnings have so far been positive, albeit with expectations having been guided lower in the run in to the show-and-tell season. Read more

about 2 months ago

XE Market Analysis: Asia - Oct 21, 2019

By: XE Market Analysis

The Dollar advanced slightly overall in N.Y. trade on Monday, after sliding lower overnight, and through much of the last week. Gains in Sterling and the Euro have been the major weight on the USD of late, as Brexit appears about ready to be sewn up in the not too distant future. Read more

about 2 months ago

XE Market Analysis: Brexit Drama and US China Trade Talks Continue, Canadians Head to Polls

By: xemarketanalysis

OVERVIEW The Brexit vote did not go PM Johnson's way, and Speaker John Bercow blocked a vote on the Brexit deal in Parliament today Trade talks between the US and China are said to be trending positively Canadians are flocking to the polls across the Great White North today. Read more

about 2 months ago

XE Market Analysis: North America - Oct 21, 2019

By: XE Market Analysis

Sterling has rallied to fresh five-month highs against the dollar, at 1.3011. This makes this week the third consecutive week where the previous week's peak has been breached. This is also potentially the eighth week the pair has rallied out of the last 11 weeks. Read more

about 2 months ago

XE Market Analysis: Europe - Oct 21, 2019

By: XE Market Analysis

The pound, and to a lesser extent the euro, wobbled in Asia following the weekend's developments on the Brexit front. Parliament voted in favour of the Letwin amendment, which forced the government to request a three-month delay in Brexit -- although not actually intended prevent Brexit on October 31, but rather to ensure that Parliament has successfully ratified PM Johnson's divorce deal before October 31 and so guarantee that a no-deal scenario could not happen. Read more

about 2 months ago

XE Market Analysis: Asia - Oct 18, 2019

By: XE Market Analysis

The Dollar fell further in N.Y. on Friday, with the DXY printing four consecutive lower daily lows through the week. The DXY touched a nearly two-month low of 97.35, down from Tuesday's high of 98.64. Softening U.S. data, and a likely 25 basis point Fed rate cut at the end of the month have weighed on the USD, while Brexit hopes supported the EUR and GBP this week as well. Read more

about 2 months ago

XE Market Analysis: Brexit: Have We Reached the End Game?

By: xemarketanalysis

OVERVIEW UK Parliamentarians will vote on the latest Brexit agreement tomorrow The greenback is broadly lower Japanese inflation data met expectations at 0.3% HIGHLIGHT According to Sir Elton John, Saturday night's alright for fighting. Read more

about 2 months ago

XE Market Analysis: North America - Oct 18, 2019

By: XE Market Analysis

The dollar has been seeing a steady-to-soft price action versus the other main currencies. AUD-USD managed to eke out a fresh one-month high, at 0.6838, despite an ongoing sputtering price action in risk-wary global stock markets. EUR-USD nudged higher after posting an intraday low at 1.1114 and came within a couple of pips of testing seven-week high that was seen yesterday at 1.1139. Read more

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