TODAY FOREX REPORT EUR/USD, GBP/USD

INTERNATIONAL CURRENCY BUZZ

Forex - U.S. Dollar Inches Down as Trade Tensions Weigh
Forex - GBP/USD leaps above 1.30 on Barnier comments
Forex - EUR/USD looks to 1.1600 post-Eurozone Sentix

EUR/USD

The bulls are in charge in the European session, propelling the EUR/USD pair to takeout the 20-DMA barrier located at 1.1573, as they await fresh impetus for further upside targets. The spot is trying hard to take on the recovery from fresh three-week lows of 1.1526 reached in early Europe, as the US dollar appears to have found some support across its main competitors, after having witnessed a sharp corrective drop from three-day tops at 95.56. Meanwhile, downbeat Eurozone Sentix investor confidence data could also add weight on the common currency. The Eurozone Sentix investor confidence arrived at 12.0 in September versus 14.3 expected. From a broader perspective, the major remains exposed to further downside risks, as the monetary policy divergence between both the continents is back in play after Friday’s solid US NFP data suggests a faster pace of Fed tightening in the coming months.

GBP/USD

The GBP/USD pair gained more than 100 pips in a matter of minutes after the EU's Chief Brexit Negotiator, Michel Barnier, delivered optimistic comments surrounding the divorce talks with the UK. At the moment, the pair is trading at its highest level in ten days at 1.3035, adding nearly 1% on the day. Speaking at a conference in Bled, Slovenia, Barnier stated that they were close to reaching an agreement on the UK-EU security ties and added that it would be realistic to expect an orderly Brexit deal in 6-8 weeks. Regarding the Chequers plan, Barnier refuted the claims that it was rejected by the EU and said that it was useful. Earlier in the day, the data from the UK showed that manufacturing production contracted by 0.2% on a monthly basis in July while the industrial production only expanded by 0.1% in the same period and both readings fell short of the analysts' estimates. On a positive note, the monthly real-GDP growth came in at 0.2% in July to beat the market consensus of 0.2%.

 

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Dollar inches up against euro, yen as big data week kicks off

The dollar was slightly higher against the yen and the euro in Asian trade Monday, with many market participants avoiding taking strong positions ahead of key data including U.S. labor figures out later this week.

The dollar USDJPY, +0.47%  was at ¥119.24, compared with ¥119.11 late Friday in New York. The euro EURUSD, -0.28%  was at $1.0862 from $1.0891.

The euro EURJPY, +0.17%  was at ¥129.62 from ¥129.86.

The WSJ Dollar Index BUXX, +0.30% a measure of the dollar against a basket of major currencies, was up 0.12% at 87.19.

Dollar sees largest two-week decline against euro since 2012

The U.S. dollar booked its largest two-week decline against the euro since September 2012 on Friday, sliding on expectations that the Federal Reserve will begin raising interest rates later, and more gradually, than market participants had previously anticipated.

The euro EURUSD, +0.04%  traded at $1.0886, compared with $1.0880 late Thursday. The dollar traded at 119.19 yen, compared with ¥119.19 level seen late Thursday.

The ICE U.S. Dollar Index DXY, -0.03% which gauges the dollar’s strength against six major currencies, was down EURUSD, +0.04%  slightly at 97.39.

The pound GBPUSD, +0.22%  traded at $1.4907, compared with $1.4853 Thursday.

Dollar rises against euro, falls against yen

The dollar lost ground against the yen Thursday, but traded higher against the euro after falling for most of the past week.

The dollar USDJPY, +0.02%  was down at ¥119.20 from ¥119.50 late Tuesday.

The euro EURUSD, +0.02%  bought $1.0875, down from $1.0971 late Wednesday in New York, after gaining ground earlier Thursday against the dollar.

 The ICE U.S. Dollar Index DXY, -0.01% which gauges the dollar’s strength against six other currencies, was flat at 97.4040.

Dollar weakens as rally enters ‘holding pattern’

The dollar traded lower against its rivals Wednesday, continuing a bearish pattern that has persisted since Federal Reserve policy makers signaled one week ago that they would begin raising interest rates later than the market had expected.

The euro EURUSD, +0.17%  was at $1.0974, compared with $1.0924 late Tuesday in New York. 

The dollar has weakened against the euro during three of the past five sessions.

The dollar USDJPY, -0.41%  was at ¥119.41, compared with ¥119.74. The pound GBPUSD, +0.07%  rebounded against the buck, trading at $1.4916, compared with $1.4847.

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Dollar weakens further against rivals on rate-hike bets

The dollar traded lower against its rivals Monday after recording its largest weekly percentage decline against the euro since October 2011.

The euro EURUSD, -0.21%  traded at $1.0945, its highest end-of-session level against the buck in three weeks, compared with $1.0821 Friday evening.

The dollar USDJPY, -0.02%  traded at 119.72 yen, its lowest level against the Japanese currency in nearly a month. It traded at 120.04 Friday.

The ICE U.S. Dollar Index DXY, +0.23% a measure of the buck’s strength against a basket of six rival currencies, was about 1% to 97.0000.

Dollar tips lower in Asia as market seeks fresh clues

The dollar was down slightly in a rangebound Asia trade Monday, with a lack of fresh cues in the market to lure investors.

The dollar was at ¥119.92, compared with ¥120.03 late Friday in New York.

The euro EURUSD, +0.06%  was at $1.0808 from $1.0823, while the common currency EURJPY, -0.05%  was also at ¥129.61 from ¥129.93.

The WSJ Dollar Index BUXX, +0.02% a measure of the dollar against a basket of major currencies, was down 0.07% at 87.35.

Dollar ends week down 1.5% against euro

 dollar finished the week about 1.5% lower against the euro Friday, snapping three weeks of gains.

The euro EURUSD, +1.50%  traded at $1.0821, compared with $1.0668 Thursday.

The ICE U.S. Dollar Index DXY, -1.28% a measure of the dollar’s strength against six rival currencies, finished the week down 2.4% at 97.6000.

Dollar stages rebound after Wednesday rout

The dollar recovered against its rivals Thursday after an unexpectedly dovish statement from Federal Reserve policy makers triggered the largest intraday selloff in the buck since 2009.

The euro EURUSD, +0.23%  traded at $1.0653, compared with $1.0831 at Wednesday’s close. The single currency briefly climbed above $1.10 after the close of the Fed’s news conference, its highest intraday level in two weeks.

The U.S. Dollar index DXY, -0.18% a measure of the dollar’s strength against six rival currencies, fell 3.6% intraday on Wednesday, its largest move since a 3.7% decline in March 2009. The index bounced back to 98.0760, up 0.5% on the day.

The dollar USDJPY, -0.04%  on Thursday fetched ¥120.81 compared with ¥120.09 late Wednesday.

Euro sinks more than 3% vs. buck for 2nd week in a row

 

The euro lost more than 3% of its value against the buck for the second straight week Friday, as the dollar’s eight-month rally resumed.

The euro EURUSD, -1.32% traded as low as $1.0465, its weakest level since January 2003.

The pound GBPUSD, -0.94% traded as low as $1.4700, its lowest level since June 2010, before both currencies staged a slight recovery. 

The euro traded at $1.0634 late Thursday, while the pound traded at $1.4849.

The ICE U.S. Dollar Index DXY, +0.91% a measure of the dollar’s strength against a basket of six currencies, was up 0.76% to 100.1900 in recent trade.

Dollar up against yen ahead of FOMC meeting

The dollar was slightly higher against the yen Friday, with investors avoiding taking lopsided positions ahead of the weekend and next week’s Federal Open Market Committee.

The dollar USDJPY, +0.10%  was at ¥121.47, compared with ¥121.26 late Thursday in New York.

The euro EURUSD, -0.18%  , tumbled to fresh 12-year low during Asian time Thursday. It last traded at $1.0584 from $1.0634.

The euro EURJPY, -0.10%  was down to ¥128.85 from ¥128.91, while the Aussie AUDJPY, -0.18%  fell to ¥93.24 from ¥93.48.

The WSJ Dollar Index BUXX, +0.17%  , a measure of the dollar against a basket of major currencies, was up 0.29% at 88.87.

Dollar index hits 11-year high on strong jobs report

The ICE U.S. Dollar Index rose for the second- straight week Friday, after the Bureau of Labor Statistics’s February nonfarm payrolls number exceeded expectations and the euro dropped to its lowest level versus the U.S. unit in more than 11 years.

The ICE U.S. Dollar Index DXY, +1.43% a measure of the buck’s strength against a basket of six rival currencies, finished the day up 1.3% to 97.63, its highest level in ,more than 11 1/2 years.
The euro EURUSD, -1.70% was at $1.0844 in recent trade after falling to its lowest level since 2003 at $1.0839 after the jobs report. It had traded at $1.1030 late Thursday.

The dollar USDJPY, +0.59% retreated slightly after hitting a four-month high of 121.27 yen, nearing its highest level against the Japanese currency since the summer of 2007, compared with ¥120.14 late Thursday in New York. The buck also USDZAR, +1.70%  rose to its highest level against the South African rand in 13 years after the report, trading at 12.05 rand to the dollar, compared with 11.84 Thursday.

The pound GBPUSD, -1.34%  traded at $1.5037 after the report, its lowest level in about a month. It had traded at $1.5238 Thursday.

U.S. dollar hits 11-year high against euro

The U.S. dollar hit an 11-year high against the euro Wednesday after pushing through a key technical threshold, shrugging off a weaker-than-expected ADP jobs report and strong eurozone reports.

The euro EURUSD, -0.41%   tumbled to $1.1073, its lowest level since late 2003.

The dollar USDJPY, +0.16%  inched higher against the yen after a measure of February service-sector activity in the U.S. came in higher than analysts had expected. The dollar traded at ¥119.70, compared with ¥119.67 late Tuesday.

The pound GBPUSD, -0.22%  traded at $1.5258, compared with $1.5362 Tuesday.

The ICE U.S. Dollar Index DXY, +0.31% a measure of the dollar’s strength against six of its largest trading partners’ currencies, was 0.62% higher at 95.9750.

Dollar inches lower on strong eurozone, U.K. data

The dollar inched lower against key rivals Tuesday after strong data out of Europe and the U.K. implied that economic growth in the rest of the world is beginning to catch up to the U.S.

The euro EURUSD, -0.07%  traded at $1.1175, compared with $1.1183 Monday evening, while the pound GBPUSD, -0.07%  traded at $1.5363, compared with $1.5359.

The dollar USDJPY, +0.01%  also drifted lower against the yen, trading at ¥119.70, compared with ¥120.14.

The ICE U.S. Dollar Index DXY, +0.11% a measure of the dollar’s strength against six of its largest trading partners, was down 0.06% on the day to 95.4090.

Forex Market Update

 

The dollar shrugged off a slate of weak economic data Monday to trade higher against the euro, yen and pound, benefiting from a surprise rate cut from the People’s Bank of China.

The euro EURUSD, +0.12%  fell to $1.1182, flat compared with its Friday-afternoon value of $1.1198. The buck USDJPY, -0.34%  traded at 120.18 yen, its highest level in nearly three weeks. It traded at ¥119.63 Friday.

 The pound GBPUSD, +0.11%  traded at $1.5366, compared with $1.5440 Friday.

The ICE U.S. Dollar Index, a measure of the greenback’s strength against a trade-weighted basket of six rival currencies, DXY, -0.17%  rose 0.2% to 95.47.

U.S. dollar rings up modest February gain

The U.S. dollar index posted a monthly gain after spending much of February in consolidation mode as investors await further signals on the timing of the Federal Reserve’s next interest-rate increase move.
The euro EURUSD, -0.02%  traded at $1.1197, little changed from its level in late North American trade on Thursday.

The dollar was at ¥119.63 compared with USDJPY, +0.18%  ¥119.49 late Thursday in New York.

The lira USDTRY, +0.12% traded at a rate of 2.5087 per dollar in recent action and traded at 2.5248 per dollar in earlier action, breaching the previous all-time low set on Feb. 11, according to The Wall Street Journal.

The WSJ Dollar Index BUXX, +0.04% a measure of the dollar against a basket of major currencies, was down 0.03 point at 85.89.

Dollar index rises to highest level since 2003

The ICE U.S. Dollar Index rose to its highest level since 2003 Thursday, as currency traders bet that a stronger-than-expected core consumer-price index number will prompt the Federal Reserve to raise interest rates sooner than expected.

The index DXY, -0.13% a measure of the greenback’s strength against a basket of six rival currencies, rose 1.15% to 95.1500, according to FactSet data.

The euro EURUSD, +0.13%  traded at $1.1998, its lowest level since Jan. 26, compared with $1.1361 Wednesday.

The euro EURUSD, +0.13%  traded at $1.1998, its lowest level since Jan. 26, compared with $1.1361 Wednesday.

Dollar dips on delayed rate-hike expectations

The U.S. dollar inched lower against its main trading partners Wednesday, extending losses from Tuesday’s session, after Federal Reserve Chairwoman Janet Yellen suggested the central bank isn’t ready to raise interest rates just yet.

The dollar traded lower against the euro EURUSD, -0.08%  and flat against the yen USDJPY, -0.09% with the euro worth $1.1360 and the buck trading at ¥118.85, compared with $1.1349 and ¥118.75 Tuesday.

The ICE U.S. Dollar Index DXY, +0.00% a measure of the dollar’s strength against a trade-weighted basket of six rival currencies, was 0.3% lower at 94.2260.

The pound GBPUSD, -0.06%  and the Australian dollar AUDUSD, -0.04%  were especially well-bid versus the buck, with sterling trading at $1.5525, its highest level since late December. It traded at $1.5476 late Tuesday.

The aussie AUDUSD, +0.01%  traded at 78.86 cents, just below its highest level since Jan. 28, up from 78.59 Tuesday.

Dollar inches lower on Janet Yellen’s testimony

 The dollar inched lower against the yen and euro after Federal Reserve Chairwoman Janet Yellen suggested the central bank’s first rate hike since 2006 may not occur until the second half of the year.

The dollar USDJPY, -0.24%  was at ¥118.89 Tuesday afternoon, compared with ¥118.83 late Monday in New York. The euro EURUSD, +0.05%  traded at $1.1342, compared with $1.1336.

The ICE U.S. Dollar Index DXY, -0.10% a measure of the dollar’s strength against a trade-weighted basket of six other currencies, declined 0.14% to 94.4410.

Euro weakens as Greece delays reform proposals

The euro fell against the dollar Monday, as the initial enthusiasm for Greece’s bailout extension gave way to anxiety that debt problems may have been delayed rather than resolved.

The shared currency EURUSD, +0.04%  recovered somewhat from the day’s low to trade at $1.1334, up from a session low of $1.1295, but down from around $1.1378 late Friday in New York.

The dollar USDJPY, +0.20%  bought 118.84 yen, down a touch from ¥119.07 late Friday in New York.

The pound GBPUSD, -0.07%  gained against the dollar, rising to $1.5460 from $1.5399 late Friday ahead of Bank of England Governor Mark Carney’s remarks at a Treasury select committee hearing Tuesday.

The ICE U.S. Dollar Index DXY, +0.05%  gained 0.32% to 94.5610.