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XE Market Analysis: Europe - Sep 17, 2013

By: XE Market Analysis

The FX majors consolidated overnight as the focus turns to Wednesday's FOMC policy outcome. Some form of tapering is priced in, as well as dovish forward guidance. The Larry Summers withdrawal from the Fed chair candidacy also raises the prospect of a Yellen appointment, which is viewed as more likely to result in a gradual withdrawal of policy stimulus. Read more

XE Market Analysis: Asia - Sep 16, 2013

By: XE Market Analysis

Fallout from Larry Summers' withdrawal from Fed chairman consideration faded through the N.Y. session, as the dollar clawed back some of its overnight losses. Equities and Treasuries maintained a good chunk of their gains though, as markets pondered Fed tapering under Janet Yellen's helm. Read more

XE Market Analysis: North America - Sep 16, 2013

By: XE Market Analysis

Dollar losses dominated the Asia session in response to news that Larry Summers withdrew his candidacy for Fed Chairman. The dollar gapped lower at the open and remained under pressure throughout the session, which left EUR over 1.3350, Cable above 1.5950 and USD-JPY under 99.00. Read more

XE Market Analysis: Europe - Sep 16, 2013

By: XE Market Analysis

Dollar losses dominated the Asia session in response to news that Larry Summers withdrew his candidacy for Fed Chairman. The dollar gapped lower at the open and remained under pressure throughout the session, which left EUR over 1.3350, Cable above 1.5950 and USD-JPY under 99.00. Read more

XE Market Analysis: Asia - Sep 13, 2013

By: XE Market Analysis

The dollar dipped early in the session as the White House said U.S. President Obama has not made a decision on the Fed Chairman, according to Dow Jones. USD-JPY fell from 99.75 to just under 99.60 and EUR-USD edged back into 1.3300. The Nikkei report that Summers could be named as the next Fed Chairman boosted the dollar in late Asia. Read more

XE Market Analysis: Europe - Sep 13, 2013

By: XE Market Analysis

The dollar recovered some of Thursday's lost ground, though the well defined weekly range remained intact. There was no appetite to force a break of range ahead of next week's FOMC meeting. The situation in Syria is not as clear cut as it was with Syria leader Assad pushing back against the proposed chemical weapons handover. Read more

XE Market Analysis: North America - Sep 13, 2013

By: XE Market Analysis

The dollar recovered some of Thursday's lost ground. Dollar demand accelerated in late Asia as market participants responded to a Nikkei report that suggested Larry Summers will be named as the next Fed Chairman late next week. However, it was a fairly subdued Asia and European session and option expiries attracted for the third consecutive session. Read more

XE Market Analysis: Asia - Sep 12, 2013

By: XE Market Analysis

The dollar was mixed and rangebound in N.Y. trade on Thursday. The greenback got a brief boost from sharply lower jobless claims data, though reporting issues canceled out the veracity of the number. EUR-USD tracked its way over 1.3300 after holding 1.3250, though had difficulty holding the figure. Read more

XE Market Analysis: North America - Sep 12, 2013

By: XE Market Analysis

The dollar edged up in early Europe, but overall it consolidated at easier levels following Tuesday's correction. Setting the tone overnight was an extended USD-JPY move into 99.20 as weak longs bailed following yesterday's failure to sustain 100.00. This kept EUR-USD close to 1.3300, although upside progress was capped by resistance at 1.3330, EUR-JPY supply from a Middle Eastern account and EUR-GBP hedging related to EU subsidies. Read more

XE Market Analysis: Europe - Sep 12, 2013

By: XE Market Analysis

The dollar consolidated losses in Asia, leaving EUR over 1.3300 and Cable above 1.5800. USD-JPY continued to disappoint on the topside and headed through support at 99.50 to trade at 99.40 lows. AUD was the standout mover. It edged out highs just over 0.9350 and then plunged to 0.9250 as Australia August jobs fell 10.8k, which was much weaker than expected and saw the unemployment rate rise a notch to 5.8%. Read more

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