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XE Market Analysis: Canadian Dollar Rallies As Central Bank Keeps Rates On Hold

By: xemarketanalysis

OVERVIEW Markets are in a typically quiet trading session ahead of the minutes from the Federal Reserve's last meeting. Moodyís downgraded Chinaís debt rating, citing rising debt levels; the outlook was revised to negative as well. Existing home sales in the US fell more than expected last month, but remained close to their highest levels in a decade. Swedish consumer confidence strengthened more than expected in May, rising from 103.4 to 105.9 Norwegian unemployment unexpectedly rose from 4.3% to 4.5% in March. New Zealand's trade surplus rose to NZ$578 million in April, bringing the annual deficit down from NZ$3.67 billion to NZ$3.48 billion. Sentiment among Japanese manufacturers declined for the first time in nine months in April with the Tankan index dropping to 24%. South African inflation cooled more than expected last month, with CPI falling to 5.3%, within the central bank's target range. HIGHLIGHT The Bank of Canada left interest rates unchanged at 0.5% as expected and were fairly sanguine about the recent cooling in the rate of CPI, saying inflation is broadly in line with their April forecasts. Read more

XE Market Analysis: Asia - May 24, 2017

By: XE Market Analysis

The dollar trended a bit higher through the N.Y. morning session on Wednesday, though was smacked lower in the aftermath of the FOMC minutes as the Fed indicated caution, saying it would be prudent to wait for evidence that recent weak data is transitory before raising rates again. Read more

XE Market Analysis: North America - May 24, 2017

By: XE Market Analysis

The dollar has been trading mixed today, gaining and then ebbing versus the yen, recouping some lost ground versus the euro and sterling, and trading softer versus the Canadian dollar, which has been buoyed by fresh one-month highs in the price of crude. Read more

XE Market Analysis: Europe - May 24, 2017

By: XE Market Analysis

The dollar has rebounded some. The narrow USD index, which on Monday logged a six-month low at 96.70 has repaired above 97.30. EUR-USD has logged a two-session low at 1.1171, putting in some distance from yesterday's two-month. USD-JPY clocked a 5-sesison high of 112.03. Read more

XE Market Analysis: Asia - May 23, 2017

By: XE Market Analysis

The dollar was mostly higher in N.Y. trade on Tuesday, taking the DXY off its 6-month lows of 96.80 seen on Monday, to a high of 97.35. The greenback turned a bit softer after weak U.S. new home sales, though recovered broadly into the London close. EUR-USD came from 1.1249 highs to a low of 1.1177, while USD-JPY rallied to 111.79 after printing 110.99 lows. Read more

XE Market Analysis: Shocks Remain After Horrific Attack in Manchester

By: xemarketanalysis

OVERVIEW Markets were shocked by the suicide attack in Manchester where lots of children were enjoying an Ariana Grande concert. Sterling trades toward the bottom end of its 1.15 range against the Euro. The Euro remains as the favored currency backed up by robust economic data. The US Dollar continues to trade under pressure as political risk is accompanied by signs of a weakening housing market. HIGHLIGHT So soon after the terrorist attack on Westminster Bridge in London, the market continues to be quiet as Manchester suffers from a horrifying suicide attack that has left 22 innocent victims dead. Read more

XE Market Analysis: North America - May 23, 2017

By: XE Market Analysis

The dollar remained on softening tack, posting, for instance, a fresh six-month low versus the euro and one-month lows versus the Canadian dollar. USD-JPY remained relatively steady, chopping around 111.00. EUR-USD's trend peak is at 1.1268. A slew of data releases out of the Eurozone today included strong May German Ifo business conditions survey and solid PMI survey outcomes in preliminary May survey findings. Read more

XE Market Analysis: Europe - May 23, 2017

By: XE Market Analysis

The dollar majors have been in consolidation mode so far today. USD-JPY has settled to an oscillation around the 111.00 level, lower on the day, concomitantly with a mostly-bearish session across Asian stock markets today. A three-session low was logged at 110.86. Read more

XE Market Analysis: Asia - May 22, 2017

By: XE Market Analysis

FX trade was fairly quiet in N.Y. to start the week, though the dollar overall remained under pressure. There was no U.S. data to move markets, though Wall Street managed decent gains, while yields were marginally higher. EUR-USD opened near 1.1230, later topping at 1.1263 before succumbing to minor profit taking. Read more


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