XE Market Analysis
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North American Edition2016-01-11 12:25 UTC
The South African rand too a big hit during illiquid trade in Asia, losing over 6% against the dollar at its nadir, since recouping about half of that loss. The loss occurred in the early session as markets sprang out of the new week's starting blocs in full-blown risk-off mode in reaction to weekend remarks from a senior Chinese policymaker that China will have a lot of difficulty in achieving economic growth above 6.5% over the 2016-2020 period. ... Read More ►
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European Edition2016-01-12 08:39 UTC
A risk-off theme has been persisting, despite a gain in Chinese stock markets today. Oil prices are pushing 12-year lows, most stock markets outside China are down, while in in the forex realm AID-JPY, a proxy of China sentiment, is registering as the biggest mover out of the currencies we track, down 0.9% on the day so far. The AUD, NZD, CAD, and other commodity currencies are underperforming the USD, which itself is underperforming the JPY and EUR. In ... Read More ►
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Asian Edition2016-01-11 19:20 UTC
Relatively speaking, U.S. equities fared well on Monday, following another overnight China meltdown. Wall Street was lower, but not by a lot, while yields steadied at slightly higher levels. Aside from USD-JPY, which struggled on the soft risk backdrop, the dollar firmed up some in morning trade, with gains led by USD-CAD, which bounded to trend highs of 1.4245, as WTI crude was slammed under $31/bbl, as 12-year low. EUR-USD peaked at 1,0900 early in the ... Read More ►
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