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XE Market Analysis: North America - Sep 23, 2020

By: XE Market Analysis

The dollar pulled back a little after posting fresh highs. This saw EUR-USD lift back above 1.1700 after earlier posting fell to an eight-week low at 1.1673. A strong rebound in global stock markets is putting pressure back on the dollar and giving EUR-USD buoyancy, although with the ECB having engaged in a form of verbal intervention and with many European nations implementing the tightest restrictions since the March-April lockdowns amid a surge in positive coronavirus test results across the region, upside potential for EUR-USD may be limited. Read more

XE Market Analysis: Europe - Sep 23, 2020

By: XE Market Analysis

The yen has been trading mixed today. USD-JPY edged above 105.00, while EUR-JPY and other yen crosses have traded softer. AUD-JPY fell by 0.5%, foraying further into 10-week low terrain, as expectations for another RBA rate cut cement in markets, which has been concomitant with recent declines in iron ore and other commodity prices. Read more

XE Market Analysis: Asia - Sep 22, 2020

By: XE Market Analysis

The Dollar firmed again in N.Y on Tuesday seeing the DXY trade on the 94 handle for the first time since late July. The index rallied from 93.58 early in the session to 94.07. Incoming data saw existing home sales in line with expectations, and the Richmond Fed index beating forecasts. Read more

XE Market Analysis: North America - Sep 22, 2020

By: XE Market Analysis

The dollar and yen have remained firm versus most other currencies. Stock markets managed to rebound in Europe after another negative session in Asia, while S&P 500 minis pared overnight losses. EUR-USD printed a seven-week low at 1.1720, and the prevailing bias looks likely to remain bearish. Read more

XE Market Analysis: Europe - Sep 22, 2020

By: XE Market Analysis

The dollar and yen have remained firm but mostly off Monday's highs. The Australian dollar has been the only mover of note out of the main currencies we track, falling to new lows after RBA deputy governor Debelle said that the central bank is watching the currency "carefully" and that forex intervention is a policy option, as is negative interest rates (while stressing that this doesn't mean it's on the table). Read more

XE Market Analysis: Asia - Sep 21, 2020

By: XE Market Analysis

The Dollar had its best day in a while in N.Y trade on Monday, taking tie DXY to six-week highs of 93.78 from overnight lows of 92.75. Safe-haven USD buying was widespread, as global equities melted down on the back of rising virus cases in much of Europe, the lack of progress on U.S. Read more

XE Market Analysis: North America - Sep 21, 2020

By: XE Market Analysis

The dollar and yen rallied, the latter especially so amid safe haven demand as global stock markets and commodity prices turned sharply lower, which in the case of the greenback countervailed concerns about the approaching U.S. election and lower-for-longer Fed policy regime. Read more

XE Market Analysis: Europe - Sep 21, 2020

By: XE Market Analysis

Dollar softness juxtaposed to yen firmness has been the dominant theme in currency markets so far today, which has been concomitant with tumbling global stock markets. USD-JPY dropped 0.4% in pegging a fresh seven-week lows under 104.20. Today racks up as the sixth straight trading day of decline, making this week the third consecutive week of decline. Read more

XE Market Analysis: Asia - Sep 18, 2020

By: XE Market Analysis

The Dollar ended a bit lower overall in N.Y. on Friday, though ranges were narrow, and volumes reportedly light into the weekend. Incoming U.S. data saw the Q2 current account blow out to a 12-year high, though Michigan sentiment was better than expected, and leading indicators were in line with consensus. Read more

XE Market Analysis: North America - Sep 18, 2020

By: XE Market Analysis

The dollar and more especially the yen lifted during the London morning session. EUR-USD dropped back to the lower 1.1800s after pegging a two-day high at 1.1862. Yesterday's five-week low is at 1.1737. A combo of EUR-JPY selling and broader dollar buying facilitated the decline in EUR-USD, which came amid a backdrop of flagging global equity markets. Read more

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