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XE Market Analysis: Europe - Jul 04, 2013

By: XE Market Analysis

FX markets are in a holding pattern ahead of today's policy outcome from the BoE and ECB. Both central banks are expected to keep policy unchanged, but the ECB is likely to be more of a market mover amid the accompanying press conference from Draghi. He is likely to reiterate the ECB's accommodative policy stance, which may be timely given the rising eurozone risks this week. Read more

XE Market Analysis: Asia - Jul 03, 2013

By: XE Market Analysis

The dollar was softer in a holiday shortened session for many, losing ground despite the geopolitical backdrop. EUR-USD moved up over 1.3030 from 1.2950, largely as pre-ECB short covering stepped in. U.S. desks, who will be largely absent on Thursday due to Independence Day, were active euro buyers through the morning. Read more

XE Market Analysis: North America - Jul 03, 2013

By: XE Market Analysis

USD, JPY and CHF were boosted by deleveraging as equity markets plunged. Negative influences on Tuesday fueled a flight to safety ahead of the ECB policy decision on Thursday and Friday's NFP data. There were concerns over a regime change in Egypt, which lifted oil to 14-month highs over $102 bbl today. Read more

XE Market Analysis: Europe - Jul 03, 2013

By: XE Market Analysis

The dollar maintained a bid tone as equity markets experienced broad losses. Negative influences on Tuesday fueled a flight to safety ahead of the ECB policy decision on Thursday and Friday's NFP data. There were concerns over a regime change in Egypt, which lifted oil into $100 bbl. Read more

XE Market Analysis: Asia - Jul 02, 2013

By: XE Market Analysis

The dollar firmed up in light N.Y. dealings on Tuesday, though ahead of risk events such as ADP jobs data on Wednesday, and the ECB meeting on Thursday, FX dealings were on the quiet side. In-line May factory orders helped the greenback to a degree, while we suspect the possibility of a military coup in Egypt supported the dollar as well. Read more

XE Market Analysis: North America - Jul 02, 2013

By: XE Market Analysis

The European morning saw light activity as larger flows were kept to the minimum ahead of key event risks later this week. The risk backdrop was positive in Asia, but in Europe the tone was mixed, which dampened speculative flows. Early dollar selling fizzled out, which saw EUR back away from 1.3080 to the 1.3020 area. Read more

XE Market Analysis: Europe - Jul 02, 2013

By: XE Market Analysis

Consolidation was noted in the FX majors in relatively quiet trade. Larger flows were minimal ahead key event risks later this week, which include the ECB policy meeting and Friday's NFP data. Sentiment was positive early on following yesterday's U.S. Read more

XE Market Analysis: Asia - Jul 01, 2013

By: XE Market Analysis

The dollar ended mostly lower in light N.Y. trade on Monday, though ranges overall were relatively narrow. A better U.S. manufacturing ISM outcome supported the dollar and equities initially, but USD gains were shallow and short lived. EUR-USD found good support ahead of 1.3000 before turning moderately higher, while USD-JPY fell short of the 100.00 mark, and reversed to 99.65 in afternoon dealings. Read more

XE Market Analysis: North America - Jul 01, 2013

By: XE Market Analysis

Risk appetite was stable in Europe as manufacturing PMI data pointed to stabilisation in the eurozone and continued expansion in the U.K. The numbers followed a strong Japanese Tankan release, which backed the Abenomics growth drive. China manufacturing PMI overnight slowed to 50.1, but it did meet expectations and there was optimism after money market rates came down again. Read more

XE Market Analysis: Europe - Jul 01, 2013

By: XE Market Analysis

The focus for Asia FX came from economic data out of Japan and China. The Japanese Tankan report came in on the firmer side of expectations with big manufacturers and non-manufacturing picking up from the previous outturn, which underpinned recovery expectations and boosted USD-JPY to 99.50. Read more

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