XE Market Analysis: Asia – Jul 31, 2020

The DXY recovered from two-year lows of 92.55 seen overnight, then rallied to 93.53 highs through the morning session. Week-end and Month end Dollar short covering appeared to be the main driver. Incoming data was mixed, leaving personal income and PCE a bit weaker then expected, the Chicago PMI better, while the final U. Mich sentiment softened as well. Wall Street traded lower through the morning, though perked up in afternoon trade, as House Democrats said they would cancel the August recess, and stay in D.C. to work on the stimulus package. All three major indices closed in the Green.