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XE Market Analysis: North America - Aug 24, 2020

By: XE Market Analysis

The dollar's weakening bias resurfaced during the European morning session, pushing the USD index (DXY) to a low at 92.92, which marks over a 50% retrace of Friday's gain. EUR-USD concurrently lifted to a high at 1.1841, which is over 40 pips on last week's closing level. Read more

XE Market Analysis: Europe - Aug 24, 2020

By: XE Market Analysis

Narrow ranges have been prevailing in early-week trading. EUR-USD has been consolidating losses seen last week after the pair hit a 27-month peak at 1.1967, holding today near the 1.1800 level, up on Friday's pull-back low at 1.1754. Last week, while producing a new trend high, was the first down week EUR-USD has seen out of the last nine weeks. Read more

XE Market Analysis: Asia - Aug 21, 2020

By: XE Market Analysis

Friday saw the Dollar put in a little distance from the 27-month lows seen earlier in the week. The DXY topped at 93.47 up from 92.58 overnight lows, and the trend lows of 92.13 seen on Tuesday. The Greenback found some support from the uptick in the August Markit manufacturing and services PMIs, along with a record rise in existing home sales. Read more

XE Market Analysis: North America - Aug 21, 2020

By: XE Market Analysis

The dollar found a footing as EUR-USD tumbled following sub-forecast preliminary August PMI data out of the eurozone. EUR-USD printed a one-week low at 1.1784, declining from a two-day peak at 1.1883. Contrasting above-forecast PMI data out of the UK sparked specific EUR-GBP selling, too, which added weight on EUR-USD's down phase. Read more

XE Market Analysis: Europe - Aug 21, 2020

By: XE Market Analysis

The dollar's weakening bias has resurfaced, pushing the narrow trade-weighted USD index (DXY) to a two-day low at 92.58, extending the correction from yesterday's one-week high at 93.23. The 27-month low that was seen on Tuesday is at 92.13, and the index will need to close out today in New York below 93.10 to rack this week up as the eighth down week out of the last nine weeks. Read more

XE Market Analysis: Asia - Aug 20, 2020

By: XE Market Analysis

The Dollar came under broad pressure from mid-morning on Thursday, as if appeared the FOMC minutes driven boost has about run its course. In the scheme of things, even if the minutes were not as dovish as expected, the Fed continues to be in uber-easing mode, continuing to buy assets while virtually targeting the yield curve. Read more

XE Market Analysis: North America - Aug 20, 2020

By: XE Market Analysis

The dollar has retained demand in the wake of the FOMC minutes, the bottom line from which was that there is no immediate plan to take unconventional stimulus measures in monetary policy. The narrow trade-weighted USD index rose to a six-day peak at 93.19, extending the rebound from the 27-month low that was pegged on Wednesday at 92.13. Read more

XE Market Analysis: Europe - Aug 20, 2020

By: XE Market Analysis

The dollar has retained demand in the wake of the FOMC minutes, the bottom line from which was that there is no immediate plan to take unconventional stimulus measures in monetary policy. The narrow trade-weighted USD index edged out a three-day peak at 93.09, extending the rebound that was sparked by the minutes and from the 27-month low that was pegged on Wednesday at 92.13. Read more

XE Market Analysis: Asia - Aug 19, 2020

By: XE Market Analysis

The Dollar managed to stem the bleeding in N.Y. on Wednesday, and rallied modestly through the session. The DXY held above Tuesday's 27-month low of 92.13, rallying from early lows of 92.24 to 92.75 highs. There was no data to drive markets. Wall Street was modestly higher, and Apple hit a milestone, becoming the first U.S. Read more

XE Market Analysis: North America - Aug 19, 2020

By: XE Market Analysis

The dollar has managed to find a toehold against most currencies after printing fresh trend lows against many yesterday. The exceptions were the pound and the Canadian dollar, which both clocked new trend highs versus the greenback. The USD index (DXY) has been consolidating recent losses above Tuesday's 17-month low at 92.13, with EUR-USD concurrently holding off yesterday's 27-month peak at 1.1967. Read more

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