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XE Market Analysis: Asia - Aug 04, 2017

By: XE Market Analysis

The dollar rallied sharply in N.Y. trade on Friday, aided by a solid U.S. July jobs report, a narrowed trade deficit, and by talk from White House Economic Advisor Cohn talking up tax incentives to repatriate overseas corporate cash hoards. The DXY rallied to highs of the week, topping at 93.75 from an intra day low of 92.70. Read more

XE Market Analysis: US Dollar Takes a Breather After Good Employment Data

By: xemarketanalysis

OVERVIEW US Dollar spikes after non-farm payroll numbers outperform expectations. RBA says the current Aussie Dollar levels are not a major drag on the economy. Sterling remains on the back foot after BoE meetings yesterday. Canadian unemployment rate drops to 6.3%. HIGHLIGHT U.S. Read more

XE Market Analysis: North America - Aug 04, 2017

By: XE Market Analysis

EUR-USD continued to hold in a tight range in the upper 1.18s, below Wednesday's 31-month peak at 1.1910. Selling interest at and above 1.1900 was mentioned on market forums, and good sized offers were reportedly put through EUR-CHF after the cross forayed above 1.1500 in Asia and early London trade. Read more

XE Market Analysis: Europe - Aug 04, 2017

By: XE Market Analysis

The dollar majors have been plying narrow ranges for the most part. EUR-USD held in the upper 1.18s, below the 31-month high logged midweek at 1.1910, and Cable settled in the mid 1.31s, consolidating the sharp losses seen yesterday in the wake of the BoE's guidance yesterday, which largely kicked expectations for a 25 bp rate hike into 2018. Read more

XE Market Analysis: Asia - Aug 03, 2017

By: XE Market Analysis

The dollar was again soft through the N.Y. session on Thursday, though the DXY did manage to stay above Wednesday's 15-month low of 92.55. Incoming U.S. data was mixed, as factory orders recovered, while the services ISM missed the mark. EUR-USD based at 1.1844 at mid-morning, before rallying to 1.1893 highs, under the trend peak of 1.1910 from Wednesday. Read more

XE Market Analysis: Pound Tumbles After Bank of England Meeting

By: xemarketanalysis

OVERVIEW Sterling plummets after Bank of England cut inflation and growth forecasts. Australian imports climb to record high on the back of stronger Aussie Dollar. Czech central bank leads Europe with the first interest rate hike in over 5 years. U.S. Read more

XE Market Analysis: North America - Aug 03, 2017

By: XE Market Analysis

Consolidation ruled the day into the BoE announcement, which in the event sparked a strong sell reaction on sterling. Cable lost a big figure in posting a low at 1.3139, which is a three-session low, before finding a toehold. The BoE's left the repo rate at 0.25% by a vote of 6-2 at the Monetary Policy Committee, with one less member dissenting in favour of hiking rates by 25 bp than in June. Read more

XE Market Analysis: Europe - Aug 03, 2017

By: XE Market Analysis

EUR-USD has settled lower after hitting a new 31-month high at 1.1910 after the London interbank close yesterday. The pair has since ebbed under 1.1850, opening in London with a softening bias. EUR-CHF has seen a similar price action, also hitting a 31-month peak yesterday, at 1.1524, before coming off the boil. Read more

XE Market Analysis: North America - Aug 02, 2017

By: XE Market Analysis

The euro stormed to new major trend highs before correcting somewhat. EUR-USD hit a new 31-month peak at 1.1836, and EUR-JPY a 19-month high at 131.40. EUR-CHF was off to the races again, with market participants now feeling confident enough, in contrast to how they felt for most of the time since the Eurozone crisis first erupted in 2010, to short the Swiss franc. Read more

XE Market Analysis: Europe - Aug 02, 2017

By: XE Market Analysis

The dollar majors have traded mixed so far today in relatively narrow ranges. One mover of note has been USD-CAD, which has lifted to a 12-day high at 1.2586, with the pair in process of constructing its biggest rebound since early May. A drop in oil prices, with the WTI benchmark tumbling today below $49.0, which continued yesterday's correction from the 10-week highs seen above $50.0, provided a cue to put the squeeze on Canadian dollar long positions. Read more

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