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XE Market Analysis: Asia - Nov 05, 2020

By: XE Market Analysis

The Dollar was largely range-bound through the N.Y. session, after broadly losing ground overnight. The USD was steady following the FOMC announcement, where no tweaks to policy were made, as widely expected. The greenback had fallen sharply the past two-sessions, as prospects for a split Congress supported risk-taking levels, putting pressure on the safe-haven USD. Read more

XE Market Analysis: North America - Nov 05, 2020

By: XE Market Analysis

The dollar and yen have declined with coursing risk appetite in global markets driving gains in other currencies and asset markets. U.S. Treasury yields have remained in decline, narrowing the yield spread versus the Bund, gilt and JGB yields, among others. Read more

XE Market Analysis: Europe - Nov 05, 2020

By: XE Market Analysis

The dollar majors have been seeing relatively narrow ranges so far today, despite global stock markets rallying and sovereign bond yields, led by U.S. Treasury yields, tumbling. Markets are discounting a Biden presidency and a split Congress. Although Democrats still have a narrow path to taking control of the Senate (there is a 48 versus 48 deadlock currently, with four seats left to be decided), most political pundits think it unlikely. Read more

XE Market Analysis: Asia - Nov 04, 2020

By: XE Market Analysis

The Dollar shot higher overnight, as election uncertainty saw a rush into the safe-haven USD. Later, as risk appetite exploded, the USD fell back. The DXY moved from Asian lows of 93.38 to a high of 94.30 before falling back to 93.26 in early N.Y. trade. Read more

XE Market Analysis: North America - Nov 04, 2020

By: XE Market Analysis

Choppy price action has been prevailing in currency markets, and global financial markets more broadly, as participants attempt to digest the closer-than-expected elections in the U.S. As things stand, at 07:00 ET, the Democrats have retained the House but don't appear to have more than to a 50-50 chance of flipping the Senate, while Biden is still the favourite to win the Presidency. Read more

XE Market Analysis: Europe - Nov 04, 2020

By: XE Market Analysis

Risk aversion on a closer than expected U.S. election, along with Trump agitating the process with claims that his rivals are attempting to manipulate the results, has driven the dollar higher on a safe haven bid, while U.S. Treasuries have surged, driving the 10-year T-note yield down by 12 bp. Read more

XE Market Analysis: Asia - Nov 03, 2020

By: XE Market Analysis

The Dollar fell in N.Y. trade on Tuesday, taking the DXY to four-session lows of 93.29 from 93.64 at the open. Risk-on conditions saw safe-haven USD flows unwind pretty much across the board. Wall Street rallied sharply, with short covering a driver into the U.S. Read more

XE Market Analysis: North America - Nov 03, 2020

By: XE Market Analysis

The correction in the dollar and yen intensified as market participants made a quick retreat from risk-off positioning. The risk-sensitive AUD-USD and AUD-JPY have been the biggest gainers out of the most traded currencies, with both showing gains of comfortably over 1% at their highs. Read more

XE Market Analysis: Europe - Nov 03, 2020

By: XE Market Analysis

Narrow ranges have been prevailing, with the risk event of today's U.S. election have a deterring effect on forex market activity. The DXY dollar index ebbed back under the 94.00 level after printing a five-week high yesterday at 94.29, with EUR-USD concurrently lifting above 1.1600, extending a so far moderate rebound from yesterday's five-week low at 1.1623. Read more

XE Market Analysis: Asia - Nov 02, 2020

By: XE Market Analysis

After losing some ground overnight, the Dollar recovered some through the N.Y. morning session on Monday. The DXY fell from a one-month high of 94.28 to 93.98 into the open, subsequently bouncing modestly to 94.18. Incoming U.S. data was supportive, which saw the manufacturing ISM improve more than expected. Read more

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