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XE Market Analysis: Europe - May 11, 2020

By: XE Market Analysis

The yen has continued to weaken and commodity currencies strengthen amid a backdrop of mostly buoyant stock markets in Asia-Pacific, though risk-on sentiment has been flagging during the PM session in the region. Countries from Japan and New Zealand, to France and the UK, are loosening lockdown rules, though South Korea warned of a second wave of infections, cases in the U.S. Read more

XE Market Analysis: Asia - May 08, 2020

By: XE Market Analysis

After ticking slightly higher following the horrific, but slightly better than expected April employment report, the Dollar pulled back on position squaring driven trade into the weekend. April non-farm payrolls fell 20.5 mln, leaving the unemployment rate at 14.7%. Read more

XE Market Analysis: Europe - May 08, 2020

By: XE Market Analysis

The dollar and yen have weakened, mostly against the commodity and other currencies with higher beta characteristics. This has come amid rallying stock markets, which are pricing-in a reopening of major economies from virus-containing lockdowns, overlooking dismal data (such as a 6% plunge in Japanese household spending, in data released today, and an expected 16% plunge in U.S. Read more

XE Market Analysis: Asia - May 07, 2020

By: XE Market Analysis

The Dollar attempted to rally early in the N.Y. session on Thursday, though later succumbed to selling pressures, taking the DXY from mid-morning highs of 100.40 to afternoon lows near 99.80. Incoming data was again largely ignored, with jobless claims rising more than expected, and productivity figures fall less than forecasts. Read more

XE Market Analysis: North America - May 07, 2020

By: XE Market Analysis

The commodity currencies have traded firmer, boosted by an unexpectedly good trade report out of China, which reported a 8.2% y/y rise in exports, contrary to the median forecast for a 14.1% contraction. The data helped Asian stock markets pare intraday losses, and European stocks to rally, offsetting fresh volleys of anti-China rhetoric from U.S. Read more

XE Market Analysis: Europe - May 07, 2020

By: XE Market Analysis

The commodity currencies have traded firmer, boosted by an unexpectedly good trade report out of China, which reported a 8.2% y/y rise in exports, contrary to the median forecast for a 14.1% contraction. The data helped Asian stock markets pare intraday losses, offsetting fresh volleys of anti-China rhetoric from U.S. Read more

XE Market Analysis: Asia - May 06, 2020

By: XE Market Analysis

The horrible, but as-expected ADP employment survey had little market impact on Wednesday, leaving the Dollar mixed over all, as it ended up lower versus the Yen, near unchanged against the Euro, and higher versus the CAD and GBP. Wall Street was mixed, with the NASDAQ outperforming, while Treasury yields rose ahead of massive supply both in Treasuries and corporate. Read more

XE Market Analysis: North America - May 06, 2020

By: XE Market Analysis

The yen has been outperforming so far today, with the dollar following behind. The biggest losers out of the main currencies were the euro and the pound. Stock markets in Europe flagged, while S&P 500 futures rose nearly 1%, and oil prices hit fresh rebound highs. Read more

XE Market Analysis: Europe - May 06, 2020

By: XE Market Analysis

Currencies have been plying overall narrow ranges so far today against a backdrop of mostly buoyant global stock markets and a fresh three-week high in oil prices, with investors anticipating a lift in demand as economies reopen from lockdowns. Chinese markets reopened from the extended May Day holiday, while Japanese markets remained closed (reopening tomorrow). Read more

XE Market Analysis: Asia - May 05, 2020

By: XE Market Analysis

The DXY printed one-week highs of 99.97 into the open on Tuesday, up from the 99.33 low seen in London morning trade. The Dollar pulled back some in early N.Y. trade, later recovering to near unchanged on the session. Incoming data saw the March trade deficit wide, while the services ISM fell less than expected, but still to 11-year lows. Read more

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