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XE Market Analysis: Asia - Jul 12, 2013

By: XE Market Analysis

FX trade was relatively quiet in N.Y. on Friday, as many dealers took a break from the extreme volatility seen Wednesday and Thursday. The greenback firmed some through the morning, though comments from Fed hawk Plosser later turned stocks and bonds lower, while firming up the dollar. Read more

XE Market Analysis: North America - Jul 12, 2013

By: XE Market Analysis

It was a session of consolidation for the FX majors following the sharp moves on Wednesday and Thursday. USD-JPY traded a tight range close to 99.00. EUR-USD and Cable were weighed by light repositioning as close-to-market stops influenced. The AUD came under pressure following overnight remarks from China finance minister Lou, who said growth would average 7% this year, below the official 7.5% target, which raised expectations that Monday's Q2 GDP would be weaker than expected. Read more

XE Market Analysis: Europe - Jul 12, 2013

By: XE Market Analysis

It was a session of consolidation for the FX majors following the sharp moves on Wednesday and Thursday. USD-JPY traded a tight range close to 99.00, EUR-USD was underpinned above 1.3070 and Cable traded just short of 1.5200. ECB vice president Constancio reiterated the need for accommodative policy for longer and said the Eurozone is behind the U.S. Read more

XE Market Analysis: Asia - Jul 11, 2013

By: XE Market Analysis

After steep post-Bernanke losses, the dollar more or less stabilized in N.Y. trade on Thursday. Liquidity was thin, as many traders remained sidelined following the extreme volatility seen the past couple of days. Dollar selling on renewed Fed dovishness appeared to have about run its course, and in the bigger picture, the Fed may be the central bank closest to a tightening policy shift. Read more

XE Market Analysis: North America - Jul 11, 2013

By: XE Market Analysis

The dollar plunged overnight after dovish comments from Fed Chairman Bernanke. This followed yesterday 's FOMC minutes, which highlighted a range of views on tapering, but many members wanted more evidence on jobs. The pace of the dollar sell-off was exacerbated by thin conditions as most of the action came at the Asia Pacific open, where liquidity is often at a very low ebb. Read more

XE Market Analysis: Europe - Jul 11, 2013

By: XE Market Analysis

The dollar plunged and stocks surged after the FOMC minutes and dovish comments from Fed Chairman Bernanke shut the door on Fed policy tapering expectations. USD-JPY fell back from over 100.50 in N.Y. and losses extended from 99.60 to 98.25 in Asia. The BoJ left policy unchanged as expected and also upped its assessment on the economy, which will weigh on expectations for more policy stimulus. Read more

XE Market Analysis: Asia - Jul 10, 2013

By: XE Market Analysis

The dollar was mixed in N.Y. on Wednesday morning, though ahead of risk events, activity was quite light. Traders largely remained sidelined into the FOMC minutes release, and a speech on the economy from Fed chairman Bernanke after the close. Before the minutes, EUR-USD managed 1.2865 highs, from lows near 1.2810 at the open. Read more

XE Market Analysis: North America - Jul 10, 2013

By: XE Market Analysis

Risk aversion was noted in Europe after weak China trade data impacted sentiment. Exports dropped 3.7% y/y and imports fell 0.7% y/y. Asian stocks only held up because market participants believe Beijing could be forced to give up its focus on inflation fighting and bank lending in order to support the economy. Read more

XE Market Analysis: Europe - Jul 10, 2013

By: XE Market Analysis

China trade data limited risk appetite after it came in at very weak levels, with exports dropping 3.7% y/y and imports down 0.7% y/y. However, AUD found support on dips and recovered from 0.9125 to trade over 0.9200 as the breakdown revealed a rise in Australia imports. Read more

XE Market Analysis: Asia - Jul 09, 2013

By: XE Market Analysis

The dollar rallied on N.Y. trade on Tuesday, taking EUR-USD toward 1.2755 on the back of dovish ECB speak, and an Italy downgrade. USD-JPY held over 101.00 through the morning session, though dipped to 100.83 on a round of weak longs trimming positions. Read more

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