Home > XE Currency Blog > XE Currency Blog - Market Analysis & Forex News
A much better than expected NFP print in October ramped up Fed taper expectations, which initially saw yields rise, stocks sell off, and the dollar rally. Treasury yields and the dollar stayed high through the session, though Wall Street for a change apparently took a look at economic fundamentals, instead of the Fed's punch bowl, and bought stocks up through the afternoon session. Read more
Yesterday the ECB cut the overnight rate fo 25 basis points. The following text from Craghi's statement highlights the banks thinking: Read more
After wild price action on Thursday there was more orderly action, with most players staying out of the market ahead today's U.S. data, which includes the delayed NFP release. EUR moved either side of 1.3400, while Cable struggled to sustain 1.6100 after the U.K. Read more
After wild price action on Thursday Asian markets experienced more orderly action. Some of the price swings yesterday were heavily influenced by positioning. USD-JPY did a 180 pip round from 98.70 up to 99.40 down to 97.60 before it steadied. In Asia, there were heavy buyers on dips, but broad equity market losses weighed as the JPY crosses were underpinned by further deleveraging after yesterday's U.S. Read more
The dollar surged higher in early N.Y. trade, as the ECB surprised the market, and cut interest rates by 0.25 %. EUR-USD gapped to 1.3354 from over 1.3500 immediately after the rate cut, and after the better U.S. GDP print, but in a base of 1.3295. The greenback moved broadly higher after the rate cut, posting gains versus all the major currencies. Read more
Yesterday the Conference Board released the Index of Leading Economic Indicators for September, which had been delayed due to the government shutdown affecting data releases last month. The index rose 0.7 for the second month in a row, and had its highest YOY reading in two years. Read more
The FX majors held their ground ahead of today's key event risks, which included rate decisions from the BoE and ECB, along with U.S. advance Q3 GDP and jobless claims data. EUR held the 1.3500 level throughout the session following yesterday's move towards 1.3550, while Cable marked time just under 1.6100 amid a slightly improved EUR-GBP tone. Read more
The FX majors held their ground ahead of today's key event risks, which included rate decisions from the BoE and ECB, along with U.S. advance Q3 GDP and jobless claims data. EUR held the 1.3500 level throughout the session following yesterday's move towards 1.3550, while Cable marked time just under 1.6100 amid a slightly improved EUR-GBP tone. Read more
FX trade was largely quiet in N.Y. on Wednesday, as the market prepped itself for Thursday's ECB meeting. There was a brief flurry in EUR-USD when MNI reported ECB sources to have said there would be no rate cut on Thursday, which resulted in a modest euro rally. Read more
Risk appetite picked up during the European morning after a mixed overnight session. GBP added to Tuesday's gains after U.K. manufacturing and production data beat expectations, which lifted Cable above 1.6100 and left EUR-GBP heavy below 0.8400. EUR benefited from an upward revision in Eurozone composite PMI, although it was still down from September and the national readings were mixed. Read more
