The Dollar extended losses that were ignited by the Fed’s dovish guidance yesterday. The USD index hit an eight-day low at 96.68, extending the decline from pre-Fed announcement levels to comfortably over 0.5%. EUR-USD concurrently posted a high at 1.1306 so far, the loftiest level seen sine June 12. USD-JPY hit a five-month low at […]
OVERVIEW The greenback is unable to arrest its broad-based decline after the Fed’s dovish interest rate hold The Canadian loonie jumps higher, fuelled by strong crude oil prices. WTI crude is up by 4.5%, to trade near $56.50 a barrel on growing geopolitical risks.
The Dollar attempted to rally in morning trade, as Wall Street surged on spillover FOMC dovishness and mixed incoming data. The Greenback pulled back later, as stocks faded some,and Treasury yields remains soft, taking the 10-year rate under 2.00%. EUR-USD topped at 1.1315 early, later bottoming at 1.1271, then edging back over 1.1290. USD-JPY peaked […]
Narrow ranges have been prevailing among the main currencies, despite Wall Street closing strongly higher, the MSCI Asia-Pacific index hitting five-week highs, the 10-year Bund yield hitting a record low, and a the 10-year U.S. note yield printing a its lowest closing level in 21 months. USD-JPY has drifted moderately lower, to levels around 108.35 […]
The Dollar has seen moderate softness against the Euro, Yen and Sterling, among other currencies, while holding net steady against the Dollar bloc units, in what has been subdued pre-Fed announcement trading in forex markets. EUR-USD nudged above 1.1200, lifting out of the 16-day low seen yesterday at 1.1181, which was the product the eyebrow-raising […]
OVERVIEW The greenback is trading flat against most major currencies as the Fed starts two days of meetings. Canadian inflation surprises to the upside, boosting the loonie to a two-day high. Profit-taking trading activities weighing on Gold, down $2.50 an ounce.
FX trade was quiet ahead of the Fed, though the Dollar fell broadly after the FOMC announcement, where rates were left unchanged, as widely expected. The statement said uncertainties have increased, and “the Committee will closely monitor the implications of incoming information for the economic outlook and will act as appropriate to sustain the expansion”. […]
Sterling has hit fresh lows, and the Yen has remained bid amid a backdrop of continued sputtering in global stock markets. The Pound tumbled to fresh five-month lows against the dollar, Euro and Yen. Cable’s low is 1.2512, with the pair showing a week-on-week decline of more than 1.5%. Markets are continuing to adjust to […]
The Dollar traded firmer by virtue of the Euro taking a tumble amid a mix of soft Eurozone data and dovish remarks from ECB President turn, the Pound taking a hit as it becomes ever more likely that arch Brexiteer Boris Johnson will be the new UK prime minister, and the Australian Dollar taking a […]
OVERVIEW The Dollar Index sits atop a two-week high as the FOMC deliberates its next move USD/CAD is trading north of 1.34 handle ahead of the Canadian inflation report card OPEC meets this week to discuss further output cuts
The Dollar headed higher ahead of the N.Y. open on Tuesday, led by EUR-USD losses following dovish comments from ECB’s Draghi. The DXY topped at 97.76 from overnight lows of 97.37. EUR-USD ranged between 1.1183 and 1.1212 through the N.Y. session. USD-JPY was boosted to 108.67 highs from 108.06 following a Trump tweet saying he […]
Narrow ranges have been prevailing in quiet early-week trading, with the Dollar consolidating a recent phase of outperformance. Stock markets have been mixed in Asia, while S&P 500 futures are showing modest declines. The FOMC, BoJ, and BoE all meet this week and though none are expected to change rates, markets will be eager to […]
Trading has been directionally unambitious so far today, with the Dollar consolidating a recent phase of outperformance against other currencies. Stock markets have been narrowly mixed in Europe and Asia, as have S&P 500 futures. The FOMC, BoJ, and BoE all meet this week and though none are expected to change rates, markets will be […]
OVERVIEW Interest rate announcements are on the docket this week from the UK and Japan Fed meetings starting on Wednesday expected to focus on US-China trade and tariffs and setting the groundwork for lowering interest rates. The Bank of England is expected to hold interest rates. even as economic growth weakens and inflation exceeds targets […]
The Dollar was largely rangebound in N.Y. trade on Monday, though came under some selling pressure following a sharply lower Empire State index, and softer housing data. The DXY managed a 97.35 to 97.52 trading band. EUR-USD topped at 1.1247 after the data, later dipping to lows under 1.1220. USD-JPY ranged between 108.72 and 108.53, […]
The Australian Dollar continued to weaken amid a backdrop of misfiring equity markets in Asia, led by a decline in the major Chinese indexes ahead of the release of Chinese production and retail sales data (due 07:00 GMT) that are expected to shine a fresh light on the deleterious impact that the trade spat with […]
Both the Dollar and Yen outperformed while the Australian Dollar led the biggest loser list out of the main currencies as a safe-haven theme swept back over global markets. This followed the release of disappointing industrial production data out of China, which fell to a 17-month low growth rate, shining a fresh light on the […]
The Dollar index climbed to two-week highs in N.Y. trade on Friday, with decent incoming retail sales and industrial production supporting. In addition, pre-weekend safe-haven USD buying was apparent,with traders loading up on the back of geopolitical risk, especially in the Mideast. The DXY rallied to 97.58 highs, after bottoming at 97.08 ahead of the […]
The Australian Dollar has underperformed so far today, dropping nearly 0.5% against the Yen, which remained an outperformed amid a backdrop of sputtering stock markets in Asia. AUD-JPY pegged a fresh five-month low at 74.77. AUD-USD concurrently printed a two-week low at 0.6904 and USD-JPY a three-day low at 108.16. The Aussie buck was dented […]
The Dollar has held net steady versus the Euro and Yen, paring intraday losses in the case against the latter, while AUD-CAD dropped quite sharply amid the juxtaposition of record lows in Australian sovereign debt yields and a Loonie-supporting 2.5%-plus rally in oil prices. AUD-CAD was showing over a 0.6% loss heading into the New […]
The Dollar gained a little traction in N.Y. on Thursday, with the DXY heading from opening lows of 96.90 to one-week highs of 97.08. The Greenback edged higher despite softer Treasury yields, which were helped lower by soggy import price data. We have seen gradual USD short covering in place this week, ahead of the […]
A modest risk-back-off theme descended, which drove a bid for Yen and offers for commodity currencies. The biggest mover out of the main Dollar pairings and associated cross rates we monitor has been AUD-JPY, which is an effective forex market barometer of risk appetite in global markets. The cross ebbed by over 0.3% in making […]
The Yen has seen a modest outperformance as a risk-back-off theme ensued in global markets, while the Dollar picked up bids at the expense of the Euro, which came under pressure after German and Portuguese auctions of 10-year paper produced record low yields. The Aussie and other commodity currencies saw moderate underperformance, correlating with declines […]
The Dollar came under pressure early in N.Y. trade on Wednesday, following a cooler core U.S. CPI outcome. The CPI print kept potential Fed rate cuts front and center, weighing on the Greenback generally. Later, a round of USD short covering stepped in, taking the DXY to highs of the week at 96.97, up from […]
The Dollar has settled to a consolidation of the gains seen yesterday against most other currencies, which were seen as the 10-year Treasury yield rose over 6 bp following the deal on immigration struck between the U.S. and Mexico. EUR-USD has been maintaining a narrow range in the lower 1.1300s after rotating lower from Friday’s […]
Sterling outperformance alongside Yen underperformance provided side themes to an otherwise directionally subdued day so far, with the Dollar for the most part consolidating the moderate gains seen yesterday. USD-JPY was floated by broad Yen weakness amid a backdrop of a continued relief rally in equity markets in Asia and Europe, which has seen some […]
The Dollar was range bound, but remained heavy overall in N.Y.trade on Tuesday, consolidating sharp losses seen since last week. Slightly cooler than expected May U.S. PPI weighed some on the Greenback, while a sputtering Wall Street didn’t help the USD either, as Treasury yields turned marginally lower. EUR-USD managed 1.1331 highs, after opening near […]
The Dollar took a rotation lower following an underwhelming May employment report out of the U.S. The narrow trade weighted USD index settled off lows by still with a 0.4% decline, at 96.56, which is an 11-week closing low. EUR-USD concurrently saw a Dollar-selling driven rally, which saw the pair finished at an 11-week closing […]