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XE Market Analysis: Europe - 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, offsetting fresh volleys of anti-China rhetoric from U.S. Read more

XE Market Analysis: Asia - May 06, 2020

By: XE Market Analysis

The horrible, but as-expected ADP employment survey had little market impact on Wednesday, leaving the Dollar mixed over all, as it ended up lower versus the Yen, near unchanged against the Euro, and higher versus the CAD and GBP. Wall Street was mixed, with the NASDAQ outperforming, while Treasury yields rose ahead of massive supply both in Treasuries and corporate. Read more

XE Market Analysis: North America - May 06, 2020

By: XE Market Analysis

The yen has been outperforming so far today, with the dollar following behind. The biggest losers out of the main currencies were the euro and the pound. Stock markets in Europe flagged, while S&P 500 futures rose nearly 1%, and oil prices hit fresh rebound highs. Read more

XE Market Analysis: Europe - May 06, 2020

By: XE Market Analysis

Currencies have been plying overall narrow ranges so far today against a backdrop of mostly buoyant global stock markets and a fresh three-week high in oil prices, with investors anticipating a lift in demand as economies reopen from lockdowns. Chinese markets reopened from the extended May Day holiday, while Japanese markets remained closed (reopening tomorrow). Read more

XE Market Analysis: Asia - May 05, 2020

By: XE Market Analysis

The DXY printed one-week highs of 99.97 into the open on Tuesday, up from the 99.33 low seen in London morning trade. The Dollar pulled back some in early N.Y. trade, later recovering to near unchanged on the session. Incoming data saw the March trade deficit wide, while the services ISM fell less than expected, but still to 11-year lows. Read more

XE Market Analysis: North America - May 05, 2020

By: XE Market Analysis

The dollar and yen have risen against most currencies during the European morning, correcting some of the losses seen against the commodity currencies during the Asia-Pacific session. The two currencies, which have broken the recent correlative pattern by rising despite a backdrop of buoyant global stock markets, were the main benefactors of broad euro weakness. Read more

XE Market Analysis: Europe - May 05, 2020

By: XE Market Analysis

The dollar ebbed back a little while the commodity currencies lifted moderately as stock markets mustered up gains. Many economies are already in or heading to a phased reopening from lockdowns, while there was a lack of follow-through (so far) on U.S. Read more

XE Market Analysis: Asia - May 04, 2020

By: XE Market Analysis

The DXY rallied from Asian opening lows of 99.09 to 99.60 highs during the N.Y. session, driven largely by EUR-USD losses. Major Dollar pairing ranges were relatively narrow again, as has been the case of late. For data, the March factory report was weak, but near expectations, resulting in little market impact. Read more

XE Market Analysis: North America - May 04, 2020

By: XE Market Analysis

The dollar has lifted across-the-board on a safe-haven bid against a backdrop of tumbling stock markets in Europe and Asia, and with S&P 500 futures racking up losses of about 1%. Both Japanese and Chinese markets were closed, with both countries an extended public holiday periods. Read more

XE Market Analysis: Europe - May 04, 2020

By: XE Market Analysis

The dollar has lifted across-the-board amid a safe-haven bid against a backdrop of tumbling stock markets in Asia. Trading conditions have been thin with both Japan and China amid a week-long holiday period. The narrow trade-weighted USD index lifted above its Friday peak in making a high at 99.46, gaining about 0.9% from the lows. Read more

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