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XE Market Analysis: Europe - Jan 31, 2014

By: XE Market Analysis

The EUR came under some pressure after the weaker than expected inflation number added to speculation of a rate cut by the ECB next week. Eurozone Jan HICP inflation unexpectedly fell to 0.7% y/y from 0.8% y/y in December. The Euro is also slightly weaker against the CHF and heading for its biggest monthly decline since March and the first loss since August against the USD, amid speculation of further easing measures. Read more

XE Market Analysis: Europe - Jan 30, 2014

By: XE Market Analysis

The Fed did not surprise, as it tapered another $10 bln from its asset purchase program. The dollar had been on the rise early in N.Y. trade on Wednesday, though as equities melted down, along with Treasury yields, the greenback moved mostly lower. The Fed made no mention of emerging markets in its statement, though with some linking current EM woes to the Fed's slow retreat, emerging currencies will be watched closely.[EUR, USD]More consolidation may be in store for EUR-USD, as the 1.3600-1.3700 band continued to hold up. Read more

XE Market Analysis: North America - Jan 30, 2014

By: XE Market Analysis

The USD weakened against most currencies after the Fed cut monthly bond purchases by another $ 10 bln as expected. The move counterbalanced attempts in South Africa and Turkey to boost their currencies though rate hikes and rekindled save haven demand. Read more

A Review Of Recent Extraordinary Emerging Market Central Bank Activity

By: HaleStewart

Starting at the end of last week, emerging market currencies sold off sharply, along with developed market equities. The primary cause of this sell-off was concern that China was in fact slowing down. Since most emerging markets sell raw materials to China, China’s slowdown would have a negative impact on their respective GDPs. Read more

XE Market Analysis: Asia - Jan 30, 2014

By: XE Market Analysis

The dollar was broadly higher in N.Y. trade on Thursday. Despite a small miss on GDP, and firmer claims data, risk appetite returned, taking Wall Street sharply higher following its rout earlier in the week. This supported the greenback versus most major currencies. Read more

XE Market Analysis: Asia - Jan 29, 2014

By: XE Market Analysis

FX trade was choppy through the morning, as rate hikes in Turkey and South Africa kept EM fears alive and stoked. The greenback started out on stronger ground, though quickly fell back with equities, and save haven related Treasury buying. The dollar edged higher after the FOMC announcement and taper, which was widely expected, though reaction was fairly muted. Read more

XE Market Analysis: North America - Jan 29, 2014

By: XE Market Analysis

The USD is little changed, with EUR-USD trading around 1.3660, after rising to 1.3685 earlier. Yen and Swiss franc meanwhile erased declines as the impact of the Turkish rate hike fades. It seemed the Turkish move revived confidence in emerging markets and reduced safe haven demand, but this was only short lived with the focus turning to the FOMC announcement today. Read more

XE Market Analysis: Europe - Jan 29, 2014

By: XE Market Analysis

All eyes will be on the Fed after the European close, though ahead of the announcement, we expect FX trade will be limited to position adjustments, though Turkey's rate hike may keep the greenback supported into the announcement. The FOMC began its policy meeting, the last one under Chairman Bernanke, on Tuesday. Read more

XE Market Analysis: Asia - Jan 28, 2014

By: XE Market Analysis

The dollar slipped back following a very weak durables report, though managed to recover in the aftermath of a better than expected consumer confidence print. EUR-USD made its way to 1.3685 highs before easing back under 1.3660, while USD-JPY dipped under 102.65, and later recovered to hit the 103.00 mark. Read more

XE Market Analysis: North America - Jan 28, 2014

By: XE Market Analysis

The USD pushed higher as stocks recover in Europe, with the move partly fuelled by stop orders and partly as the market is being mindful of the FOMC announcement tomorrow that is widely expected to announce a further tapering. The Fed tapering view is strengthened by the backdrop of calmer markets today, reflected by the health 0.8% rebound in the STOXX 600 index and a 0.5% gain in S&P 500 futures. Read more

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