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Xe Market Analysis: The Currency Market Holds its Breath Ahead of a Key FOMC Meeting

By: xemarketanalysis

OVERVIEW The US Dollar index waits for the US Fed decision on interest rates, with the Greenback down 0.2% vis-à-vis G-10 currencies The GBP is ignoring Brexit chaos and is focused on the upcoming Bank of England interest rate decision The price of a barrel of NYMEX WTI Crude crashes to $48.90, its lowest level since October 2017, down 19.23% year to date. HIGHLIGHT Investors are nervously waiting for the FOMC members decision due tomorrow. Read more

XE Market Analysis: North America - Dec 18, 2018

By: XE Market Analysis

The Dollar came under broad pressure during the London AM session. Market narratives are talking about position trimming into the Fed's expected rate hike, which is also widely expected to be accompanied with dovish-leaning guidance. This view appears to have helped stock markets find some stability following the hefty losses Wall Street saw yesterday. Read more

XE Market Analysis: Europe - Dec 18, 2018

By: XE Market Analysis

The Yen has been buoyed amid a risk aversion theme in global markets after Wall Street closed with 2%-plus declines yesterday and with Asian equity markets also taking a tumble today. USD-JPY posted an eight-day low of 112.47. Yen crosses also saw a similar price action, with the high beta AUD-JPY cross coming within 10 pips of seven-week lows. Read more

XE Market Analysis: Asia - Dec 17, 2018

By: XE Market Analysis

The Dollar headed lower overnight, taking the DXY 97.06 lows from overnight highs of 97.46, and from 18-month highs of 97.71 seen on Friday. Incoming U.S. data included a sharp drop in the Empire State index, and a softer NAHB housing index, which put some downward pressure on the Greenback. Read more

Xe Market Analysis: Pound Struggles as UK Gov Rules Out Second Brexit Referendum

By: xemarketanalysis

OVERVIEW The Pound remains weak as the can is kicked down the road once again on "meaningful vote." US Dollar yields ground ahead of FED Interest rate Announcement. The Loonie dips on concerns over global growth. The Croatian Central Bank intervenes to stop the Kuna appreciating. HIGHLIGHT The Pound remained on the backfoot today as Theresa May addressed the House of Commons and confirmed that negotiations around the "backstop" agreement were ongoing and that a "meaningful vote" would be held in the house of commons in the week commencing the 14th of January, 2019. Read more

XE Market Analysis: North America - Dec 17, 2018

By: XE Market Analysis

The Dollar has come under moderate pressure, with the currency retracing some of the gains posted on Friday. EUR-USD nudged moderately higher to around the 1.1340 mark, putting a little space in from the intraday low seen in Asia at 1.1299. The move reflected part Euro firmness, despite data showing a narrowing in the Eurozone trade surplus and a downward revision in Eurozone December HICP, and part Dollar softness. Read more

XE Market Analysis: Europe - Dec 17, 2018

By: XE Market Analysis

Narrow ranges have prevailed in early-week trading so far. EUR-USD has seen no more than a 20-pip range, defined by 1.1299 and 1.1318, above Friday's three-week low at 1.1270, which was printed amid broad demand for the Dollar following net-positive U.S. Read more

XE Market Analysis: Asia - Dec 14, 2018

By: XE Market Analysis

The Dollar index pulled back from 18-month highs it posted early in the session, dipping to 97.43 from 97.71 highs. Incoming U.S. data was decent, with retail sales coming in as-expected, with upside prior month revisions. Industrial production was netter than expected, though revised down from prior months. Read more

XE Money Transfer: USD Brushes Aside G-10 currencies and Moves to a 20-month High

By: xemarketanalysis

OVERVIEW Better-than-expected retail sales attract more bid for the US dollar. The Dollar Index is up 0.6% Sterling comes under heavy selling pressure as a no-deal Brexit situation resurfaces. NYMEX WTI Crude flat near $52.25 a barrel as investors assess the impact of a stalling Chinese economy HIGHLIGHT GBP/USD sees no end to the Brexit quagmire. Read more

XE Market Analysis: North America - Dec 14, 2018

By: XE Market Analysis

The Dollar has traded firmer against mot other currencies, the Yen being the main exception, with USD-JPY having held steady in the mid 113.0s. Driving were weakness in Dollar block currencies, amid a backdrop of tumbling stock markets and sub-forecast Chinese retail sales and production data, and specific weakness in both the Euro and Pound. Read more

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