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XE Market Analysis: North America - Jun 23, 2017

By: XE Market Analysis

EUR-USD lifted before capping out 1.1187, ahead of reported option-related selling interest into 1.1300. The pair subsequently drifted to a low of 1.1161 before settling around 1.1175. The flash June composite PMI reading undershot expectations, though still pointed to relatively robust growth, while price increases slowed, which should keep the ECB hawks at bay. Read more

XE Market Analysis: Europe - Jun 23, 2017

By: XE Market Analysis

The dollar has traded mostly softer so far today. EUR-USD has drifted moderately northward, pushing toward recent range highs in the upper 1.11s. Cable has seen a similar price action in rising above 1.2700, making this the third consecutive up day the pair has seen. Read more

Central Banks Signal Shift Away From Stimulus

By: xemarketanalysis

OVERVIEW The Norwegian central bank kept interest rates on hold as expected, but signalled a change in bias, removing guidance that it could cut rates this year. The New Zealand central bank left rates on hold as expected. UK Manufacturing activity strengthened again in June as factory orders hit their highest level in nearly 30 years. The ECB's economic bulletin reported that economic data points to solid growth in the euro zone in the second quarter. Canadian retail sales rose 0.8% in April , versus 0.2% forecast HIGHLIGHT Oil prices have fallen 19% in less than a month, to their lowest levels since August last year. Read more

XE Market Analysis: Asia - Jun 22, 2017

By: XE Market Analysis

The dollar has remained on a softer tack during the pre-Europe session in Asia. The narrow trade-weighted USD index logged a three-day low at 97.12 as EUR-USD lifted to a three-session high at 1.1177, and USD-JPY to a three-day low at 110.95. Oil prices managed to find a toehold after tumbling 6% since last week's closing level, which helped elicit a rebound in stock markets in Asia (ex Japan), and which in turn gave USD-JPY and yen crosses a prop. Read more

XE Market Analysis: Europe - Jun 22, 2017

By: XE Market Analysis

The dollar has remained on a softer tack during the pre-Europe session in Asia. The narrow trade-weighted USD index logged a three-day low at 97.12 as EUR-USD lifted to a three-session high at 1.1177, and USD-JPY to a three-day low at 110.95. Oil prices managed to find a toehold after tumbling 6% since last week's closing level, which helped elicit a rebound in stock markets in Asia (ex Japan), and which in turn gave USD-JPY and yen crosses a prop. Read more

XE Market Analysis: Europe - Jun 21, 2017

By: XE Market Analysis

The yen firmed up and dollar gains stalled today as a more risk-off tone took hold in global markets, USD-JPY settled I the lower 111.0s, down from yesterday's four-week high at 111.79. Yesterday's 3%-plus plunge in oil prices agitated a pullback in stock markets, which has been supportive of the yen. Read more

XE Market Analysis: North America - Jun 21, 2017

By: XE Market Analysis

The dollar traded modestly softer today for the most part today. USD-JPY settled in the lower 111.0s, down from yesterday's four-week high at 111.79. Yesterday's 3%-plus plunge in oil prices agitated a pullback in global stock markets, which has been supportive of the yen. Read more

XE Market Analysis: Sterling Jumps as Rate Debate Intensifies

By: xemarketanalysis

OVERVIEW BoE's chief economist, Andy Haldane, says a vote for a rate hike could happen in the coming months. U.S. existing home sales unexpectedly rose 1.1% in May. UK government borrowing narrowed more than expected in May as VAT receipts increased. The ECB remains cautious about the outlook for global growth noted by the positive response from markets to tighten U.S. Read more

XE Market Analysis: Sterling Caught Between Politics and Economics

By: xemarketanalysis

OVERVIEW Sterling remains sensitive to politics and economics as the Brexit negotiations begin in a cordial manner. The Japanese economy reports solid exports at their highest level for two years. The Reserve Bank of Australia is becoming concerned about the increasing levels of credit. HIGHLIGHT The Pound has weakened in reaction to comments made by Bank of England’s Carney, saying that now is 'not yet' the time to raise interest rates. US DOLLAR The US Dollar has rallied on expectations of higher rates, despite the Federal Reserve members pouring cold water on the outlook for interest rates by saying it is worth waiting until the end of the year to access the next rate hike. BRITISH POUND The Pound remains in focus as the Conservatives report that talks with the DUP are expected to reach a sensible agreement. Read more

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