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XE Market Analysis: Asia - May 12, 2020

By: XE Market Analysis

The Dollar stumbled a bit early in the session on Tuesday, though later perked up some. For the most part, narrow trading ranges prevailed, as the FX market remains in consolidation mode, likely to continue until we get a better sense of how the unlocking of economies turns out. Read more

XE Market Analysis: North America - May 12, 2020

By: XE Market Analysis

The dollar retreated after posting an 18-day high at 100.44, as measured by the narrow trade-weighted DXY index. EUR-USD concurrently rebounded to a high of 1.0837 after posting a five-day low at 1.0784. The dollar's biggest decline was seen against the commodity currencies, which rebounded during the London morning after underperforming during the Asia-Pacific session, correlating inversely with stock markets, with European stock markets rallying after a mostly negative day across Asia-Pacific bourses. Read more

XE Market Analysis: Europe - May 12, 2020

By: XE Market Analysis

A decline in commodity prices has been the main theme so far today, which has been concomitant with a rotation lower in global stock markets. AUD-USD dropped by about 0.5% in printing a five-day low at 0.6432. The Kiwi dollar has seen a similar price action, as has the Canadian dollar and other commodity correlators. Read more

XE Market Analysis: Asia - May 11, 2020

By: XE Market Analysis

The Dollar was firmer to start the week, taking the DXY from early lows of 99.93 to a high of 100.28. Trading ranges were relatively narrow. There was no data released on Monday. Wall Street started out under water, though improved some later in the session, as tech stocks outperformed. Read more

XE Market Analysis: North America - May 11, 2020

By: XE Market Analysis

The dollar picked up safe haven demand as equity markets turned lower during the European morning after most markets in Asia-Pacific rose, while commodity currencies more than gave back intraday gains. The narrow trade-weighted USD index posted a four-day high at 100.09. Read more

XE Market Analysis: Europe - May 11, 2020

By: XE Market Analysis

The yen has continued to weaken and commodity currencies strengthen amid a backdrop of mostly buoyant stock markets in Asia-Pacific, though risk-on sentiment has been flagging during the PM session in the region. Countries from Japan and New Zealand, to France and the UK, are loosening lockdown rules, though South Korea warned of a second wave of infections, cases in the U.S. Read more

XE Market Analysis: Asia - May 08, 2020

By: XE Market Analysis

After ticking slightly higher following the horrific, but slightly better than expected April employment report, the Dollar pulled back on position squaring driven trade into the weekend. April non-farm payrolls fell 20.5 mln, leaving the unemployment rate at 14.7%. Read more

XE Market Analysis: Europe - May 08, 2020

By: XE Market Analysis

The dollar and yen have weakened, mostly against the commodity and other currencies with higher beta characteristics. This has come amid rallying stock markets, which are pricing-in a reopening of major economies from virus-containing lockdowns, overlooking dismal data (such as a 6% plunge in Japanese household spending, in data released today, and an expected 16% plunge in U.S. Read more

XE Market Analysis: Asia - May 07, 2020

By: XE Market Analysis

The Dollar attempted to rally early in the N.Y. session on Thursday, though later succumbed to selling pressures, taking the DXY from mid-morning highs of 100.40 to afternoon lows near 99.80. Incoming data was again largely ignored, with jobless claims rising more than expected, and productivity figures fall less than forecasts. Read more

XE Market Analysis: North America - May 07, 2020

By: XE Market Analysis

The commodity currencies have traded firmer, boosted by an unexpectedly good trade report out of China, which reported a 8.2% y/y rise in exports, contrary to the median forecast for a 14.1% contraction. The data helped Asian stock markets pare intraday losses, and European stocks to rally, offsetting fresh volleys of anti-China rhetoric from U.S. Read more

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