USDX

Daily Market Comment – Euro rebounds from lows after ECB disappoints; dollar holds firm

Posted on July 26, 2019 at 7:58 am GMT

ECB pledges more stimulus but euro bounces back from 2-year lows as no change this month disappoints US dollar climbs to 2-month highs as odds of 50-bps cut fade on solid US data Pound heads back down again after EU rejects Johnson’s request to renegotiate backstop Euro off lows but subdued The euro was steadier on Friday following yesterday’s volatility in response to the European Central Bank’s highly anticipated monetary policy meeting. The ECB kept policy unchanged on Thursday, though [..]

Daily Market Comment – Euro skids lower ahead of ECB; pound lifted by Johnson spending pledge

Posted on July 25, 2019 at 8:11 am GMT

Euro struggles near two-month lows as ECB decision is awaited Pound bounces higher after new prime minister signals big spending increases US dollar clings onto gains as Wall Street hits another record and trade talks make headway Euro mired by Eurozone doom and gloom Following yesterday’s poor Eurozone PMI readings, there was little support for the European common currency on Thursday as investors anxiously awaited the outcome of the European Central Bank’s monetary policy meeting later today. The euro was [..]

Daily Market Comment – Dollar see-saws on data; euro edges up despite ECB stimulus hint

Posted on July 12, 2019 at 8:11 am GMT

US dollar firms again on stronger-than-expected data, which tempers bets of 50-bps rate cut Euro edges higher even though ECB minutes signal more stimulus Oil climbs to 1½-month highs on rising Middle East tensions and Gulf of Mexico shutdown Dollar fluctuates as markets undecided on 50-bps cut Just as markets were reconsidering the likelihood of a large 50 basis points cut by the Federal Reserve this month, stronger-than-anticipated data out of the United States dampened those expectations. Core inflation, according [..]

Daily Market Comment – Dollar weaker after Powell flags rate cut; US stocks hit all-time highs

Posted on July 11, 2019 at 8:27 am GMT

Fed Chair Jerome Powell and FOMC minutes bolster case for a July rate reduction US dollar slips after Powell’s remarks, reversing NFP-driven gains Euro rebounds, eyes ECB minutes; pound and loonie up too US stocks hit record highs but Bitcoin plunges Powell testimony all but confirms rate cut in July Markets were in buoyant mood on Thursday as Fed Chairman Jerome Powell gave his strongest indication yet that the Federal Reserve will slash interest rates at the July 30-31 meeting. [..]

Daily Market Comment – Dollar holds firm as Fed rate signals awaited; pound slips to 6-month lows

Posted on July 9, 2019 at 8:21 am GMT

Dollar remains buoyant as investors re-evaluate Fed rate cut bets Focus on Fed as FOMC minutes and Powell testimony eyed for clarity on rates Pound slips to fresh 6-month lows ahead of key UK data amid slowdown fears Dollar edges higher on fading expectations of an aggressive Fed The US dollar was heading towards three-week highs against a basket of currencies on Tuesday as investors pared back their expectations that the Federal Reserve would soon embark on an aggressive easing [..]

Daily Market Comment – Dollar surges after strong US jobs report but stocks slide

Posted on July 8, 2019 at 8:06 am GMT

US dollar roars higher on surprise jump in US payrolls But stocks are sold off as investors trim expectations of aggressive Fed rate cuts Attention now turns to Powell’s semi-annual testimony in Congress for policy clues Strong US jobs report puts dollar back in the front foot The US dollar was trading close to Friday’s highs today when it surged on the back of a much better-than-expected nonfarm payrolls report. The US economy added 224k jobs in June, significantly higher [..]

Daily Market Comment – Dollar bounces back as Powell signals July rate cut not a done deal

Posted on June 26, 2019 at 8:46 am GMT

Fed Chairman Jerome Powell pushes back on aggressive rate cut bets But dollar rebounds only modestly as markets still see a 25-bps cut in July G20 summit remains the week’s focal point but hopes of a major breakthrough are low RBNZ hints at more easing, but kiwi rallies Powell says Fed is “grappling” whether to cut rates Markets were dealt a reality check on Tuesday after Fed Chairman Jerome Powell signalled that a rate cut in July was not a [..]

European Open Preview – Dollar bounces back from soft jobs report on Mexico-US migrant deal

Posted on June 10, 2019 at 8:22 am GMT

Risk appetite recovers after the US unexpectedly suspends planned tariffs on Mexico indefinitely US dollar and global stocks boosted but Fed rate cut bets remain high following weak NFP report Disappointing Chinese data also limits risk-on as yuan hits fresh 2019 lows Markets lifted by surprise US-Mexico deal It was a positive start to trading on Monday as markets were greeted by some rare good news. President Trump unexpectedly suspended tariffs on all Mexican imports indefinitely late on Friday as [..]

European Open Preview – Dollar see-saws on mixed data, trade risks; euro steady ahead of ECB

Posted on June 6, 2019 at 8:24 am GMT

US dollar stabilizes after roller-coaster session amid mixed data and little progress in US-Mexico talks Euro eases from 7-week highs as ECB meeting eyed for direction Oil plunges on rising stocks, global growth jitters but gold soars Fragile risk sentiment as hopes of Mexico deal fade Markets were mostly in a risk-averse mood on Thursday as hopes of a quick deal between the United States and Mexico over illegal migration were dashed after President Trump tweeted yesterday that “not nearly [..]

Week Ahead – RBA and ECB meetings in focus; US jobs report eyed amid runaway dollar

Posted on May 31, 2019 at 10:48 am GMT

As the US dollar heads for fresh two-year highs, next week’s nonfarm payrolls report could be key in deciding whether the dollar’s persistent strength will hold out for much longer. The Australian dollar will also be under the spotlight as the country’s central bank could make its first rate cut in three years. The European Central Bank will meet too as the Eurozone struggles to escape the dark clouds hanging over it. In Canada, the latest employment report will be [..]

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