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XE Marketing Analysis: Euro Rallies on Stronger Inflation

By: xemarketanalysis

OVERVIEW US Q1 GDP growth was just 0.7% year-over-year, the weakest pace in three years. Eurozone inflation rose at a faster than expected pace in April and core CPI rose to a 3-year high. UK GDP growth came in below expectations at 0.3% quarter-over-quarter. Japanese consumer price inflation rose at an annual pace of just 0.2% in March and household spending fell 2%. Canadian GDP was flat in February as expected after surging in January. HIGHLIGHT The Euro jumped back to its 5-month highs reached earlier this week, following the release of data showing inflation rose more than expected last month. Read more

XE Market Analysis: North America - Apr 28, 2017

By: XE Market Analysis

The euro rallied on the flash Eurozone CPI released, which came in at 1.9% y/y in the preliminary April figure, above the 1.8% median forecast and up from 1.4% in March. EUR-USD logged a two-session high at 1.0947, coming within 3 pips of Wednesday's six-month high, while EUR-JPY has lifted into six-week territory. Read more

XE Market Analysis: Europe - Apr 28, 2017

By: XE Market Analysis

Narrow ranges have been prevailing among the main currency pairings so far today. EUR-USD has settled in the mid 1.08s, below the five-month high seen mid week at 1.0950. USD-JPY has steadied to a narrow range in the low 111.0s, below the four-week high set on Wednesday at 111.78 following the Trump administration's announcement of its tax cut plan. Read more

XE Market Analysis: Asia - Apr 27, 2017

By: XE Market Analysis

The dollar was mixed in N.Y. trade on Thursday, posting gains versus the euro and CAD, while losing ground to sterling and the yen. ECB chief gave no hint of tapering, as some in the markets had feared, resulting in EUR-USD's slippage to 1.0853 lows, from a top of 1.0933. Read more

XE Market Analysis: Euro Falls After ECB Meeting

By: xemarketanalysis

OVERVIEW The ECB’s “very accommodative” monetary policy was kept on hold as inflation continues to undershoot its target. The Bank of Japan kept monetary policy unchanged while giving its most optimistic assessment of the economy in almost a decade. Donald Trump’s top economic team unveiled plans for the biggest tax cut in US history. US durable goods order rose 0.7% last month. Spain’s unemployment unexpectedly rose to 18.75% in the first quarter, the first increase in a year. The Confederation of British Industry reported that the April retail sales balance surged unexpectedly to +38, up from +9 in March. HIGHLIGHT The introductory statement from ECB president Mario Draghi, who noted that Eurozone growth is accelerating, initially strengthened the Euro. Read more

XE Market Analysis: North America - Apr 27, 2017

By: XE Market Analysis

EUR-USD has been settled around 1.0900 into the ECB's policy decision today, below yesterday's five-month peak at 1.0950. The unveiling of Trump's tax cut plan had little impact on this pairing, nor on global stock markets, with details about how the cuts will be paid for lacking at this time. Read more

XE Market Analysis: Europe - Apr 27, 2017

By: XE Market Analysis

EUR-JPY continued as the dominant mover in forex markets today. Expectations for U.S. tax cuts and the perceived passing of political existential risk in the Eurozone have continued to feed a global stock market rally, a backdrop which is keeping the yen under pressure. Read more

XE Market Analysis: Trump Targets Loonie

By: xemarketanalysis

Trump's tough talk on trade has caused the Loonie to fall.   Lumber Fire The Loonie has come under fire in the second half of the week after President Trump imposed a new 20% tariff on Canadian softwood lumber.  Read more

XE Market Analysis: Asia - Apr 26, 2017

By: XE Market Analysis

The dollar moved higher in N.Y. trade on Wednesday, ahead of the tax reform announcement, helped early on by positive U.S. tax reform talk and higher stocks. USD-JPY was choppy, though managed near one-month highs of 111.76 as Treasury Secretary Mnuchin called for 15% corporate tax rates, and a 10% tax on repatriated profits. Read more

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