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XE Market Analysis: Asia - May 06, 2016

By: XE Market Analysis

The dollar fell, then rose, then steadied near pre-data levels in the aftermath of the April U.S. employment report. The NFP component missed expectations, though earnings number were in line with expectations. The markets priced out odds for a June Fed rate hike, though in our view, the data was not bad enough to take June off the table for the FOMC. Read more

XE Market Analysis: North America - May 06, 2016

By: XE Market Analysis

The dollar has traded slightly softer versus its G3 peers, but has held firmer elsewhere, edging out a new rebound high versus the Canadian dollar while rising against an underperforming Aussie dollar, which took a wallop after the RBA revised down inflation forecasts in its trimonthly Statement on Monday Policy. Read more

XE Market Analysis: Europe - May 06, 2016

By: XE Market Analysis

Steep Aussie losses provided the main action in pre-Europe trade in Asia, which was otherwise subdued ahead of the U.S. payrolls report. Tokyo markets reopened after their thee-day Golden Week hiatus. USD-JPY has been trading in a narrow range in the low 107s, holding below Wednesday's 107.45 peak, though EUR-JPY managed to edge out a four-session low at 122.05. Read more

XE Market Analysis: Asia - May 05, 2016

By: XE Market Analysis

A relatively quiet day in FX Land on Thursday, as the market prepped for Friday's April U.S. employment report. The dollar was mostly higher, likely as last-minute short covering set in, though ranges were fairly narrow overall. Yields drifted lower, while Wall Street started strong before squandering gains in afternoon trade. Read more

XE Market Analysis: North America - May 05, 2016

By: XE Market Analysis

The dollar traded firmer against its G3 peers, and other currencies, including sterling and the Canadian dollar, although the latter found a footing amid a 2.5%-plus rally in oil prices on news of major wildfires in Canada, which threaten to disrupt crude output. Read more

XE Market Analysis: Europe - May 05, 2016

By: XE Market Analysis

The G3 currencies consolidated and the Aussie rallied following a batch of forecast-beating data out of Australia. USD-JPY oscillated around 107.00 in subdued trading Asia with Tokyo markets still closed (reopening tomorrow). Yesterday's rebound peak at 107.45 has been left unchallenged, and a period of consolidation seems likely. Read more

XE Market Analysis: Asia - May 04, 2016

By: XE Market Analysis

Aside from the softer ADP jobs report, which missed the mark, incoming U.S. data was upbeat on Wednesday, as services ISM and factory orders improved, the trade deficit narrowed, productivity was less-weak than forecasts, and unit labor costs rose. The dollar reacted negatively to the employment data, though recovered on the back of subsequent releases. Read more

XE Market Analysis: North America - May 04, 2016

By: XE Market Analysis

The dollar extended the rebound gains that took root yesterday. EUR-USD looks set to break a run of seven higher highs, and has already traded below the previous day's low for the first time in 12 days, making a low so far of 1.1470, down from yesterday's nine-month peak at 1.1616. Read more

XE Market Analysis: Europe - May 04, 2016

By: XE Market Analysis

The dollar rebound, yen correction has persisted today after taking root yesterday. EUR-USD now looks set to break a run of seven higher highs, and has already traded below the previous day's low for the first time in 12 days, making a low so far of 1.1483, down from yesterday's nine-month peak at 1.1616. Read more

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