FX Daily

 

FX Daily
May 12, 2016 Posted by
Currencies continue to trade in broader ranges with the dollar index relatively flat on the day.
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FX Daily
May 11, 2016 Posted by
Consolidation mode continues in the absence of major data with the dollar trading softer (DXY -0.3%).
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FX Daily
May 10, 2016 Posted by
Risk sentiment remains upbeat with global equities up on the day (S&P +0.9%) and the USD takes a breather after a nice run in the dollar index (+2.5% in early May).
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FX Daily
May 09, 2016 Posted by
Dollar remains firm despite the weaker US jobs report on Friday that supported the doves from the Fed.
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FX Daily
May 05, 2016 Posted by
Dollar strength continues for the second day ahead of tomorrow’s US jobs report (NFP F +200K).
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FX Daily
May 04, 2016 Posted by
Hawkish comments from Fed officials suggesting a live meeting in June and a technical rebound for the USD (DXY +1.5%) saw a massive reversal across the FX universe in the last 24 hours
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FX Daily
May 03, 2016 Posted by
Major markets return in risk off mode as global equities are down 1-2% and bond yields (i.e. 10yrs US treasuries) shed 7bps to 1.79%.
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FX Daily; Asia
May 02, 2016 Posted by

Overview

  • Given the overall weakness in USD, PBOC set the onshore CNY fixing rate at 6.4589 against the USD last Friday, up 365 basis points from Thursday.1 It was the biggest upward move since 2005. 
  • USD dropped to its lowest level in 18 months against the JPY after the Bank of Japan’s decision to refrain from further easing disappointed markets.2
  • China’s Manufacturing Purchasing Manager index (PMI) at 50.1 in April, Vs estimate of 50.3 and 50.2 in March.3
  • The State Administration of Foreign Exchange (SAFE) said on Friday that it will allow banks to issue more FX-related FX products for hedging purpose, and hold bigger short-USD positions at the end of day. 
  • USD/CNH exchange rate has been range-bound.
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FX Daily
May 02, 2016 Posted by
It has been a quiet start to the week given holidays in major centers (UK, China, HK, Singapore) and Japan starts a three day break starting tomorrow.
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FX Daily
April 29, 2016 Posted by
USD weakness persisted as the dollar index drifted to a 6 month low (DXY -0.6% intraday).
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