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XE Market Analysis: Asia - Jul 21, 2020

By: XE Market Analysis

Risk-on conditions, driven by good news on the vaccine front and the EU deal on a pandemic recovery fund, saw the Dollar under pressure in N.Y. on Tuesday, taking the DXY to four-plus month lows of 95.20, down from early highs of 95.80. Unwinding of safe-haven flows weighed on all the major USD pairings. Read more

XE Market Analysis: North America - Jul 21, 2020

By: XE Market Analysis

A risk-on positioning formation has been ensuing in currency markets, which has meant dollar and yen underperformance alongside commodity currency outperformance. The narrow trade-weighted USD index edged out a fresh three-and-a-half month low at 95.62, which is a culmination of a clear three-week downtrend. Read more

XE Market Analysis: Europe - Jul 21, 2020

By: XE Market Analysis

The narrow trade-weighted USD index edged out a fresh three-and-a-half month low at 95.65, which is a culmination of a clear three-week downtrend. The euro is trading at modestly softer levels against the dollar and most other currencies, with the forex market looking to have priced-in the green lighting of the EU recovery fund. Read more

XE Market Analysis: North America - Jul 20, 2020

By: XE Market Analysis

The euro has been in the outperforming lane amid signs that EU leaders are heading for a compromise on the EU recovery fund. The EU leaders' summit has been dragging on since Friday, and will resume today at 14:00 GMT (10:00 ET). EUR-USD pegged a fresh four-and-a-half-month high at 1.1467, drawing nearer to the early March peak at 1.1494, which is the loftiest level seen since January 2019. Read more

XE Market Analysis: Europe - Jul 20, 2020

By: XE Market Analysis

The euro has been in the outperforming lane amid signs that EU leaders are heading for a compromise on the EU recovery fund. The EU leaders' summit has been dragging on since Friday, and will resume today at 14:00 GMT (10:00 ET). EUR-USD pegged a fresh four-and-a-half-month high at 1.1467, drawing nearer to the early March peak at 1.1494, which is the loftiest level seen since January 2019. Read more

XE Market Analysis: North America - Jul 17, 2020

By: XE Market Analysis

The dollar has weakened against the euro while holding within Thursday ranges against most other currencies. The common currency ran higher, despite Germany's Merkel managing expectations into the start of the EU leaders' summit on the EU recovery fund, saying earlier that "differences are still very big," although remarking that there is a lot of "impetus" going into the discussions. Read more

XE Market Analysis: Europe - Jul 17, 2020

By: XE Market Analysis

Currencies have hunkered down in narrow ranges, with the dollar and yen consolidating after rising against most other units yesterday. Global stock markets are lacking direction, too. The persisting pandemic remains a concern for investors, and even though the lack of fresh cases in many reopened countries which experienced pronounced infections (including to no-lockdown, no-mask Sweden) -- pointing to herd immunity, with the 2020 virus/all-cause mortality curves now looking like nothing more than a bad respiratory illness season -- is going largely unreported. Read more

XE Market Analysis: Asia - Jul 16, 2020

By: XE Market Analysis

The Dollar turned mostly lower through the N.Y. morning session on Thursday, though recovered in afternoon trade. The DXY dropped from 96.18 to 95.90 lows, then bounced to intra day highs of 96.32. Incoming U.S. data was mixed, seeing strong retail sales, though a very slow rate of decline in jobless claims, plus erosion in the six-month component of the Philly Fed index had the market fearing a slowing in the economic recovery may be ahead. Read more

XE Market Analysis: North America - Jul 16, 2020

By: XE Market Analysis

The dollar rallied to a two-day high in narrow trade-weighted terms, with the DXY index pegging a high at 96.32, extending the rebound from yesterday's five-week low at 95.78. The rotation higher in the U.S. currency has been driven by a bout of risk aversion in global stock markets, which raised safe-haven demand for dollars. Read more

XE Market Analysis: Europe - Jul 16, 2020

By: XE Market Analysis

The dollar has recovered most of yesterday's losses. The narrow trade-weighted index lifted to a peak of 96.17, up from Wednesday's five-week low at 95.78. The rotation higher in the U.S. currency was driven by a bout of risk aversion in global stock markets, which raised safe-haven demand for dollars. Read more

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