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XE Market Analysis: Europe - Apr 16, 2020

By: XE Market Analysis

Relatively narrow ranges have prevailing so far today in currency markets, into early interbank trading in Europe. The dollar has retained a bid, edging out fresh highs against the Australian and Canadian dollars, though remaining shy of the highs seen yesterday against the euro and pound. Read more

XE Market Analysis: Asia - Apr 15, 2020

By: XE Market Analysis

The Dollar rallied in early N.Y. trade on Wednesday, as global risk-off conditions prevailed. Safe-haven USD buying dominated early, as stocks plummeted, oil prices crashed under $20/bbl, and earnings reports missed expectations, not to mention the ongoing pandemic uncertainties. Read more

XE Market Analysis: North America - Apr 15, 2020

By: XE Market Analysis

Currencies are back in a risk-off formation as global stock markets turn lower. Commodity currencies have flown lower, while the dollar and yen have flown higher. While Asia stock markets closed out with moderate declines, equity losses accelerated in Europe. Read more

XE Market Analysis: Europe - Apr 15, 2020

By: XE Market Analysis

The commodity currencies have come under pressure with stock markets taking a step back in Asia today, and with S&P 500 futures showing declines of over 0.5%. Oil prices have also remained heavy after WTI benchmark futures printed a two-week low at $19.95 late yesterday, with the OPEC++ group's near 10 mln barrel per day output cut, and hints of bigger cuts to dome, doing little to convince crude markets that producers have the will to cut production sufficiently to plug the massive supply/demand gap amid the prevailing lockdowns across many global economies. Read more

XE Market Analysis: Asia - Apr 14, 2020

By: XE Market Analysis

The DXY fell to almost three-week lows of 98.84 from pre-open highs of 99.26. Risk-on conditions prevailed through the session, while the the Fed and Congress moves to flood the system with Dollars to combat the virus related cratering of the U.S. economy, have weighed on the USD for over a week now. Read more

XE Market Analysis: North America - Apr 14, 2020

By: XE Market Analysis

The dollar has retained a moderate softening bias amid a context of risk-on positioning and with global markets returning to full participation following the long weekends in many financial centres in Europe and Asia-Pacific. Chinese trade data for March provided bullish fodder for stock markets in Asia by showing an abatement in the rate of decline in imports and exports after the severe plunges in January and February. Read more

XE Market Analysis: Europe - Apr 14, 2020

By: XE Market Analysis

The dollar has retained a steady-to-softening bias amid overall fairly narrow ranges so far today, and this amid a context of risk-on positioning and with global markets returning to full participation following the long weekends in many financial centres in Europe and Asia-Pacific. Read more

XE Market Analysis: Asia - Apr 13, 2020

By: XE Market Analysis

The Dollar rallied some overnight in holiday thinned trade, though pulled back in light N.Y. trade on Monday. There was zero data on tap, and focus largely remained on virus developments. Following historical Wall Street gains seen last week, and ahead of Tuesday's earnings season kick-off, equities suffered from a profit taking round of selling. Read more

XE Market Analysis: Asia - Apr 09, 2020

By: XE Market Analysis

The Dollar fell broadly in N.Y. on Thursday, as the Fed announced new unprecedented facilities to deal with the coronavirus and the containment policies that have largely shut the economy. Under these new measures, that include programs to support state and local governments, as well as small and mid-sized companies, the Fed will provide up to $2.3 tln in additional aid. Read more

XE Market Analysis: North America - Apr 09, 2020

By: XE Market Analysis

Narrow ranges have been prevailing in currency markets ahead of some data and event risk items on today's calendar. Asian and European stock markets mostly gained, while U.S. index futures have flagged. Hopes remain that the peak global coronavirus infection rate may be approaching, which would mark the end of "phase 1" of the pandemic, with "phase 2" being how to exit from lockdowns while there is, as yet, no vaccine or cure. Read more

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