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XE Market Analysis: US Employment Falls but Wages Rise Faster

By: xemarketanalysis

OVERVIEW USD rises to two-month high as wage growth unexpectedly jumps. CAD also supported by faster wage growth and employment growth. GBP weak as former Conservative party chair goes public with a plan to oust PM May. AUD weakens as RBA member unexpectedly talks about rate cuts and weak retail sales. HIGHLIGHT The US economy unexpectedly shed 33,000 jobs last month as Hurricane Harvey and Irma distorted the monthly employment report, though unemployment fell to 4.2%. Read more

XE Market Analysis: North America - Oct 06, 2017

By: XE Market Analysis

The dollar posted new highs before pulling back some as the release of the U.S. jobs report for September looms. USD-JPY logged a three-session high at 113.07 before settling to around 112.85-90, and EUR-USD printed an eight-week low 1.1686. USD-CAD logged five-week highs, while Cable plumbed a one-month low. Read more

XE Market Analysis: Europe - Oct 06, 2017

By: XE Market Analysis

The dollar has been bid up again, after dipping mid week, gaining concomitantly with Treasury yields following a set of strong data out of the U.S. yesterday, along with relatively hawkish Fedspeack and with all three of the main U.S. equity indices setting record closing highs for a fourth straight session. Read more

XE Market Analysis: Domestic Politics Keep Pressure on British Pound

By: xemarketanalysis

OVERVIEW USD gains after strong factory orders and Fed comments. CAD weakens after disappointing trade data. AUD stumbles after very weak retail sales. EUR weakens after slightly dovish ECB minutes. Oil prices recover as Saudi's committed to oil production cuts. HIGHLIGHT The British Pound is continuing to head lower, hitting a 3-week low versus the Dollar and trading slightly below the level when the Bank of England signaled a potential rate hike. Read more

XE Market Analysis: Asia - Oct 05, 2017

By: XE Market Analysis

The dollar once again reacted positively to improving U.S. data, this time on a narrowed trade deficit, and improved factory orders. Wall Street rallied to new record highs, as Treasury yields moved up as well. Markets will likely slow ahead of Friday's U.S. Read more

XE Market Analysis: North America - Oct 05, 2017

By: XE Market Analysis

The dollar was steady versus the yen and euro, but gained versus the pound and Australian dollar, the former amid a new wave of political and Brexit uncertainty following a widely panned speech by British PM May yesterday, and the latter following the biggest contraction in Australian retail sales in over four years. Read more

XE Market Analysis: Europe - Oct 05, 2017

By: XE Market Analysis

The Aussie came under pressure following the biggest contraction in Australian retailing sales in four years. The currency is showing a 0.5% decline on the day as the London interbank enters the fray, with AUD-USD logging a two-day low at 0.7819. The August report for Australian retail trade saw turnover unexpectedly contracting by 0.6% m/m, contrary to expectations for 0.3% m/m growth. Read more

XE Market Analysis: Dollar Struggles Despite Booming PMI Surveys

By: xemarketanalysis

OVERVIEW USD under pressure on rumors that Trump is considering a more dovish Fed Chair candidate. S&P says Bank of England is talking up Sterling to fight inflation. GBP lifted by stronger than expected PMI services. ECB tells banks to set aside more cash on bad loans. India's central bank keeps rates on hold at 6%. HIGHLIGHT The US economy ended the third quarter with businesses recording their fastest growth in over a decade last month, with forward-looking indicators pointing to the expansion continuing in the fourth quarter. Read more

XE Market Analysis: Asia - Oct 04, 2017

By: XE Market Analysis

The dollar firmed up some in N.Y. on Wednesday, with strong U.S. data again the main driver of gains. Wall Street advanced further, as yields headed higher as well. EUR-USD topped at 1.1787 early on, before pulling back to 1.1747 lows. USD-JPY meanwhile, peaked at 1.1294, though the 113 handle remains a tough nut. Read more

XE Market Analysis: North America - Oct 04, 2017

By: XE Market Analysis

EUR-USD logged a two-session high at 1.1781, rebounding from yesterday's two-and-a-half-month low at 1.1696. The gain reflects a broader retreat in the dollar, while the deepening constitutional crisis in Spain remains a concern for the euro. The pound traded mixed, with gains seen following an above-forecast services PMI out of the UK failing to sustain. Read more

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