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XE Market Analysis: Fed Minutes Point to a Rate Hike "Fairly Soon"

By: xemarketanalysis

OVERVIEW ECB board members once again voiced support for their ultra-accommodative monetary policy, saying underlying inflation remains weak, and political uncertainty represents a downside risk to growth. The U.S. housing market strengthened further in January as existing home sales rose 3.3%, hitting a 10-year high as buyers shrugged off higher prices and mortgage rates. Read more

XE Market Analysis: North America - Feb 23, 2017

By: XE Market Analysis

The dollar has been in consolidation mode so far today. EUR-USD posted little more than a 20 pip range in London AM trading, holding in the mid 1.05s, consolidating yesterday's rebound gains from a low at 1.0493. The narrowing in in the Franco-German sovereign debt yield spread over the last day has helped keep the euro underpinned. Read more

XE Market Analysis: Europe - Feb 23, 2017

By: XE Market Analysis

The dollar has consolidated post-FOMC minutes losses, which didn't show any heightened risk for a March rate hike, and saw implied rates dip as some insurance for a more hawkish tone had been priced in. Risk for action next month fell to about 18% in Fed funds futures, versus about 25% to 30% last week after strong data and some hawkish Fedspeak. Read more

XE Market Analysis: Asia - Feb 22, 2017

By: XE Market Analysis

The dollar was mostly higher in N.Y. trade on Wednesday, though did lose ground to the euro. EUR-USD rallied on headlines that French Centrist Bayrou will bow out of the election and back Independent Macron, giving him a better chance of defeating nationalist Le Pen. Read more

XE Market Analysis: Major FX Remains Calm for Now

By: xemarketanalysis

OVERVIEW UK GDP growth in the fourth quarter rose at a faster pace than originally reported, rising 0.7%, the fastest pace in a year. Germany's IFO survey showed business morale improved unexpectedly in February, with the index rising to 111.0. Read more

XE Market Analysis: North America - Feb 22, 2017

By: XE Market Analysis

EUR-JPY and GBP-JPY are the biggest movers on the day so far, both about a 0.8% decline on the day, as of the early European PM session. Frexit concerns are driving the move, with currency markets and the Franco-German yield spread bearing the brunt as equity markets remain pretty bid despite the potential existential threat to the euro and the mess this could make of UK's Brexit process. Read more

XE Market Analysis: Europe - Feb 22, 2017

By: XE Market Analysis

The dollar has been trading so far today, advancing against the euro into the London open while showing a more net indifferent profile versus other currencies. The euro has come under fresh pressure. EUR-USD has breached last Wednesday's low at 1.0521 and logged a six-week low at 1.0519. Read more

XE Market Analysis: Asia - Feb 21, 2017

By: XE Market Analysis

The dollar traded inside a narrow trading range in N.Y. on Tuesday, and was mixed overall, making modest gains against the euro and CAD, while losing ground to the yen and pound. EUR-USD bottomed at 1.0525, weighed down by French polling indicating LePen continuing to gain altitude. Read more

XE Market Analysis: Dollar Rises on Rate Hike Talk

By: xemarketanalysis

OVERVIEW U.S. stock markets set fresh record highs at the open, with oil prices also higher. Eurozone flash estimate PMIs showed growth unexpectedly in the services and manufacturing sectors, accelerated to a near six-year high last month, and job creation reached its fastest in almost a decade. UK public sector borrowing figures for last month showed chancellor Philip Hammond is on track to meet his budget deficit target after the biggest surplus on record. The minutes from the RBA's last meeting continued to suggest that interest rates will be kept on hold as economic growth is expected to pick up. HIGHLIGHT The Dollar is higher across the board this morning as the focus turns back towards the prospect of a rate hike at the Fed’s meeting next month. Read more


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