Forex Market Update : Epic Research Singapore

The dollar came under renewed pressure Thursday, building on Wednesday’s rout on concerns about the strength of the U.S. economy and fading expectations that the Federal Reserve will deliver more interest-rate increases this year.

The euro EURUSD, -0.1427%  traded at $1.1211, up from $1.1109 late Wednesday in New York and topping the $1.12 level for the first time since October. The euro rose earlier in the day, despite a speech by European Central Bank President Mario Draghi that emphasized the “risks” surrounding a “wait-and-see” approach to embarking on further monetary stimulus.

The U.S. currency USDJPY, +0.04% rose as high as ¥118.24 in Asian trade before slipping, trading at ¥116.78 in late New York trade. That was down from ¥117.72 late Wednesday, and well below the ¥119.00-line seen before the Bank of Japan’s surprise decision last Friday to implement negative interest rates.

The ICE dollar index DXY, +0.07% a measure of the currency against a basket of major rivals, fell 0.8% to 96.539. The WSJ Dollar Index BUXX, +0.11% a measure of the dollar against a wider basket, fell 0.7% to 89.31 and saw its biggest two-day percentage decline since March 2009..

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Forex Market Update : Epic Research Singapore

The dollar on Wednesday logged its largest one-day drop versus the euro since early December, after a disappointing reading on U.S. service-sector activity was seen putting Federal Reserve interest-rate increases on hold.

The ICE U.S. Dollar index DXY, +0.09% a measure of the dollar’s strength against a basket of six currencies, fell to a session low of 96.8900, its weakest level since early November and what amounted to a daily drop of more than 2% before paring its decline to 97.9500, a drop of 1.7% on the day.

The euro EURUSD, -0.2071%  traded at $1.1108 late Wednesday in New York, compared with $1.0925 late Tuesday in New York. It was the euro’s largest daily gain versus the buck since the European Central Bank unveiled a smaller-than-expected expansion of its stimulus measures on Dec. 3.

The dollar USDJPY, +0.14%  weakened to ¥117.78 Wednesday, compared with ¥119.80 Tuesday. The pound GBPUSD, -0.1370%  traded at $1.4603, compared with $1.4403 late Tuesday.

Meanwhile, oil prices rebounded, helping to support several resource-linked currencies, including the Russian ruble USDRUB, +0.00%  and Canadian dollar USDCAD, -0.2685% against the buck.

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Forex Market Update : Epic Research Singapore

The dollar edged lower against the euro and yen Tuesday as oil prices moved lower and the bump in risk appetite that followed the Bank of Japan’s surprise interest-rate cut faded.

The U.S. currency USDJPY, -0.26%  fell to ¥119.96 late Tuesday in New York, compared with ¥120.61 late Monday in New York—its biggest daily decline against the yen in more than two weeks.

The euro EURUSD, +0.0458%  strengthened to $1.0922 late Tuesday, compared with $1.0924 Monday. The pound GBPUSD, +0.0000%  traded at $1.4399 Tuesday, compared with $1.4423 Monday.

The ICE U.S. Dollar index DXY, +0.01% a measure of the dollar’s strength against a basket of six rival currencies, declined 0.2% to 98.8210.

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Forex Market Update : Epic Research Singapore

The dollar weakened against the euro and pound Monday as a selloff in crude oil resumed after four sessions of gains.

The euro EURUSD, +0.1286%  traded at $1.0894 late Monday in New York, compared with $1.0831 late Friday in New York. The pound GBPUSD, +0.0277%  traded at $1.4433, compared with $1.4244.

Meanwhile, the dollar USDJPY, -0.14% traded at ¥121.07, little-changed from its late-Friday level.

Chinese yuan USDCNH, -0.0332% traded in the offshore market edged lower against the dollar after the data, but yuan traded onshore USDCNY, +0.0152%  was largely stable.

The ICE U.S. Dollar index DXY, -0.07% a measure of the buck’s strength against a basket of six rival currencies, was down 0.6% at 99.0020.

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Forex Market Update : Epic Research Singapore

The dollar weakened versus the euro Thursday after a disappointing reading on durable-goods orders in December, combined with a dovish outlook from the Federal Reserve on Wednesday.

The euro EURUSD, -0.0640%  traded at $1.0952 late Thursday in New York, compared with $1.0905 late Wednesday. The pound GBPUSD, -0.0279%  strengthened to $1.4360, compared with $1.4251 late Wednesday.

The ICE U.S. dollar index DXY, +0.05% a measure of the dollar’s strength against a basket of six rival currencies, was down 0.4% to 98.5090.

The dollar USDJPY, -0.18% traded at ¥188.64 Thursday, compared with ¥118.4950 late Wednesday in New York.

Rising oil prices helped support the Canadian dollar USDCAD, +0.0855%  and other resource-linked currencies including the Russian ruble USDRUB, -0.16%  and the Brazilian real USDBRL, -0.0270%

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Forex Market Update : Epic Research Singapore

The dollar weakened against its main rivals Monday as oil unwound its gains from late last week.

Oil’s continued decline weighed on resource-linked currencies like the Canadian dollar USDCAD, -0.1189%  while bolstering safe-haven plays like the yen.

The dollar USDJPY, -0.13%  fell to ¥118.43 from ¥118.84 late Friday in New York. The greenback weakened against the euro EURUSD, -0.0092% which rose to $1.0833 from $1.0796, despite a larger-than-expected deterioration in Germany’s Ifo business-sentiment survey for January.


The British pound GBPUSD, -0.1404%  traded at $1.4255, compared with $1.4267 Friday.

The ICE U.S. Dollar Index DXY, -0.01% a measure of the dollar against a basket of major currencies, was down 0.2% at 99.3690.

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Forex Market Update : Epic Research Singapore

The dollar strengthened against the euro and the yen Friday, as investors shed caution following signs that the European Central Bank may provide more stimulus, and as Japanese stocks rallied.

The euro EURUSD, -0.6989% weakened versus the dollar in late New York action to change hands at $1.0792, down from $1.0888 late Thursday.

The ICE Dollar Index DXY, +0.42% a measure of the dollar against a basket of major currencies, was up 0.5% at 99.56.

In other pairs, the Canadian dollar USDCAD, -1.0093% which had dropped to 13-year lows last week, reversed course and strengthened this week after the Bank of Canada left its rates unchanged on Wednesday and as oil prices rebounded. The loonie strengthened 0.9% to trade at $C1.42, posting its first weekly gain this year.

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Forex Market Update : Epic Research Singapore

The dollar strengthened against the yen on Tuesday as investors warmed to risky assets after official data showed growth in China deteriorated by in the fourth quarter — increasing the likelihood of further economic stimulus.

But the greenback weakened against the euro as the slide in oil prices resumed, helping support the shared currency as investors unwound risky bets on emerging-market currencies and bought back the euros used to fund those bets, market strategists said.

The ICE U.S. Dollar index DXY, -0.09% a measure of the dollar’s strength against a basket of six rival currencies, was up 0.1% to 99.0910.

The greenback USDJPY, -0.32%  strengthened to ¥117.59 from ¥117.31 late Monday in New York. Meanwhile, the euro strengthened to EURUSD, +0.1742% $1.0911 late Tuesday from $1.0885 Monday as the shared currency benefited from falling oil prices. The British pound GBPUSD, -0.0706% fell to $1.4179 from $1.4256.

The price of crude oil traded on the New York Mercantile Exchange settled lower CLG6, -1.65% as investors worried about the impact of Iranian crude on markets. However, the global benchmark LCOH6, -0.42%  settled slightly higher.

The bifurcation in oil prices was reflected in currency trading. The Canadian dollar weakened USDCAD, +0.1646% against the U.S. dollar, while the Norwegian krone USDNOK, +0.1441%  and Russian ruble USDRUB, +0.14%  held on to their gains.

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Forex Market Update : Epic Research Singapore

The dollar edged lower against the euro and yen late Wednesday as a rally in oil prices faded and the Federal Reserve’s Beige Book painted a mixed picture of the U.S. economy.

The ICE U.S. Dollar index DXY, +0.00% a measure of the bucks’ strength against a basket of six rivals, was down 0.1% at 98.9440 late Wednesday in New York after spending most of the session in the green.

The dollar USDJPY, -0.12%  bought ¥117.68 late Wednesday, in New York, compared with ¥117.76 late Tuesday.

Elsewhere, the euro traded higher against the dollar as investors looked ahead to the release of minutes from the European Central Bank’s December policy meeting, expected Thursday. The euro EURUSD, +0.0368%  traded at $1.0879 late Wednesday, compare
d with $1.0834 Tuesday, after shrugging off a weak reading on industrial production in the eurozone.

The Brazilian real USDBRL, +0.0797% Russian ruble USDRUB, -0.24% trimmed most of their early gains, while the Australian dollar AUDUSD, -0.1726%  turned lower against its U.S. rival.

The Canadian dollar USDCAD, +0.1813% fell to a new 13-year low against the U.S. dollar as the oil rout continued. The U.S. dollar traded at C$1.4351 late Wednesday, compared with C$1.4250.

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Forex Market Update : Epic Research Singapore

The dollar edged higher Tuesday as China ramped up efforts to stabilize its currency, helping to restore confidence in the world’s second-largest economy.

The ICE U.S. Dollar index DXY, +0.17% a measure of the dollar’s strength against a basket of six rival currencies, rose 0.3% to 98.9780.

Early in the global day, China intervened in the offshore yuan market, fending off speculators and briefly closing the gap between onshore and offshore yuan exchange rates.


But the two rates diverged again in recent trade, when the onshore yuan USDCNY, +0.0670% traded at 6.57 to the dollar, and offshore yuan USDCNH, -0.1657% traded at 6.79. On Monday, the onshore yuan traded at 6.57, and the offshore yuan traded at 6.84.

The euro EURUSD, -0.3499% traded at $1.0856 late Tuesday in New York, compared with $1.0861 late Monday. The dollar USDJPY, +0.55%  traded at ¥117.60 late Tuesday, compared with ¥117.63 Monday.

Elsewhere, the pound briefly fell to its weakest level since mid-2010 after official data showed U.K. industrial production contracted by 0.7% in November. It recently traded at GBPUSD, +0.1177% $1.4433, compared with $1.4544 late Monday Eastern Time.

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Forex Market Update : Epic Research Singapore

The U.S. dollar edged lower against the yen and euro Friday, reversing gains rung up earlier in the session, as investors began to second guess a report on December jobs growth released earlier in the session.

Its declines cemented the dollar’s worst weekly performance against the yen since August 2013 — and its worst weekly performance against the euro since early December of last year — as Chinese stocks and the yuan dropped sharply, with global ramifications. The dollar was down 2.6% against the yen on the week, while the euro rose 0.6% against the dollar.

The dollar USDJPY, -0.34% traded at ¥117.52 late Friday in New York, compared with ¥117.74 late Thursday in New York.

The euro EURUSD, -0.0640% traded at $1.0917 Friday, compared with $1.0917 Thursday. The pound GBPUSD, -0.6773% traded at $1.4523, compared with $1.4647.

Despite the dollar’s declines against the euro and yen, the ICE U.S. Dollar index DXY, +0.08% which measures its strength against a basket of six currencies, rose 0.2% to 98.4530.

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Forex Market Update : Epic Research Singapore

The U.S. dollar plunged against the yen Thursday after a report surfaced that Chinese policy makers were being pressured to allow a sharp drop in the yuan.

The report, published by Reuters, drove the buck back toward its lowest level against the Japanese currency in more than four months.

The dollar USDJPY, +0.56% traded at ¥1117.58 late Thursday in New York, compared with ¥118.67 Wednesday.

Elsewhere, the euro EURUSD, -0.4574%  strengthened against the dollar—as did other European currencies like the Swedish krona SEKUSD, -0.2886%  and Norwegian krone NOKUSD, -0.1439% —as the traders bought back the euros they used to fund bets on riskier emerging-market currencies.

The euro traded at $1.0937 late Thursday, its largest daily increase since December’s European Central Bank meeting, compared with $1.0778 late Wednesday in New York. The British pound GBPUSD, +0.1231%  traded at $1.4624 Thursday, compared with $1.4633.

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Forex Market Update : Epic Research Singapore

The euro tumbled Tuesday to its weakest level against the dollar in a month as weak economic data from across the globe helped support the greenback ahead of Friday’s eagerly anticipated U.S. jobs report.

The European shared currency EURUSD, +0.1768%  fell to a low of $1.0719, its weakest level since Dec. 3, when it erased a month of losses after the European Central Bank delivered a package of stimulus measures that was less comprehensive than investors had hoped. It trimmed some of its losses to trade at $1.0746 late Tuesday in New York, compared with $1.0826 late Monday in New York.

The yen USDJPY, -0.53%  strengthened against the dollar, extending Monday’s gains, as investor appetite for currencies perceived haven currencies endured. The dollar fell to ¥119.03, down from ¥119.30 late Monday in New York.

The Chinese yuan USDCNY, +0.2436%  rose after the country’s central bank intervened in the foreign-exchange market to prop up its currency. A dollar bought 6.5209 yuan, down from 6.5377 yuan on Monday.

The pound GBPUSD, -0.0477%  dropped to $1.4668 from $1.4716 Monday.

The ICE Dollar index DXY, -0.08%  rose 0.5% to 99.3960, on track to rise a sixth straight session.

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Forex Market Update : Epic Research Singapore

The dollar weakened against the yen Monday, at one point falling to its lowest level since mid-October, as worries about slowing growth in China instigated a global flight to safety.

The dollar USDJPY, +0.13%  traded at ¥119.30 late Monday in New York, after falling to ¥118.70 earlier in the session, its lowest level since Oct. 15, according to FactSet data. The dollar traded at ¥120.27 late Thursday in New York.

Higher interest rates in the U.S. may not be enough to support the dollar in January if economic growth stagnates elsewhere.

The dollar strengthened against most of its other rivals. The euro traded at $1.0833 late Monday, compared with $1.0861 late Friday. The shared currency briefly fell to a one-month low of $1.0781 earlier in the session.

The ICE Dollar Index DXY, +0.03% which measures the greenback’s strength against a basket of six rivals, rose 0.2% to 98.8370.

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Forex Market Update : Epic Research Singapore

With most traders all but checked out for the final trading day of 2015, the dollar moved higher Thursday against most of its major rivals.

For the year as a whole, it has been anything but mundane for the greenback, which gained 9.3% for the year, aided by a 0.4% climb on New Year’s Eve, as gauged by the ICE Dollar Index DXY, +0.44% a measure of the dollar against six major currencies.

The dollar was up 0.7% at 1.0868 against the euro EURUSD, +0.0000% from 1.0933 late in New York. The buck’s biggest gains versus major rivals have come via the shared currency. Year-to-date, the dollar has advanced about 10% against the European currency.

Against the yen USDJPY, +0.30% the pair was at ¥120.23 in late trade in New York, down from ¥120.52 Wednesday. For the year, the dollar has gained just 0.4%.

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Forex Market Update : Epic Research Singapore

The dollar rose Tuesday in thin trading against its major rivals amid a global stock-market rally fueled by a rebound in crude-oil prices.

Moves in the currency market have been small in this abbreviated week, analysts said.

The U.S. currency rose against the euro EURUSD, +0.0916% which was at $1.0938 Tuesday afternoon in New York from $1.0973 late Monday.

The greenback USDJPY, +0.01%  was at ¥120.37 Tuesday afternoon in New York, compared with ¥120.36 late Monday in New York.

The ICE Dollar Index DXY, -0.03% a measure of the dollar against six major currencies, was up 0.2% at 98.16

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Forex Market Update : Epic Research Singapore

The dollar edged lower Monday but rebounded from a one-week low against most of its major rivals, as the Australia and U.K. markets remained closed in observance of the Boxing Day holiday.

The dollar, which “rallied from mid-October to early December, has been correcting ever since,” said Marc Chandler, global head of currency strategy at Brown Brothers Harriman.

On Monday, the ICE U.S. Dollar Index DXY, -0.07% a measure of the dollar against a basket of major currencies, was down 0.02% to 97.96, after dropping as low as 97.87, its lowest level in more than a week.

Meanwhile, the Canadian dollar USDCAD, -0.2373%  and the Russian ruble USDRUB, +0.0000% dropped, as oil prices pulled back from last week’s rally, weighing on the currencies of countries that are major exporters of the commodity.

The greenback USDJPY, -0.10%  was at ¥120.36 after hitting as high as ¥120.55. That compares with ¥120.33 in the late afternoon on Friday in Tokyo.

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Forex Market Update : Epic Research Singapore

The dollar rose against the euro Wednesday in holiday-thinned trading after a weak reading on French economic growth.

The ICE Dollar index DXY, -0.25% a closely watched gauge of dollar strength against rival currencies, rose 0.1% to 98.3110.

The euro EURUSD, +0.2199%   lost some ground against the buck, trading at $1.0910 late Wednesday in New York, down from $1.0951 late Tuesday in New York.

The pound GBPUSD, +0.0941% traded at $1.4872 late Wednesday, up from $1.4862 ahead of the data. It had weakened against the dollar early in the session after data showed U.K. GDP expanded 0.4% in the third quarter, missing expectations.

The dollar traded at USDJPY, -0.25%  ¥120.85 Wednesday, compared with ¥121.07 late Tuesday.

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Forex Market Update : Epic Research Singapore

The euro edged higher against the dollar Tuesday, adding to gains from the previous day, as oil prices recovered slightly.

The shared currency EURUSD, -0.1460%  traded at $1.0950 late Tuesday in New York, compared with $1.0909 late Monday in New York.

The euro has benefited from falling oil prices, market strategists said, as traders unwound their bets on commodity-linked currencies and bought covered short euro positions used to fund those bets.


The dollar was little-changed against its other rivals as price moves were muted amid light trading volume during a holiday-shortened week.

The greenback USDJPY, -0.03%  was at ¥121.01 late Tuesday, compared with ¥121.11 Monday. The pound GBPUSD, +0.0202%  traded at $1.4813 Tuesday, compared with $1.4894 Monday.

The ICE U.S. Dollar index DXY, +0.07% a measure of the dollar’s strength against a basket of rival currencies, was down 0.2% to 98.2150.

In other currency trading, the Turkish lira declined against the dollar after the country’s central bank left official interest rates unchanged. The central bank had been expected to lift rates. The lira USDTRY, +0.0375%  traded at 2.93 to the dollar, compared with 2.91 a day ago.

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Forex Market Update : Epic Research Singapore

The dollar was largely unchanged against the yen and the euro in thin Asian trade Tuesday, with fewer participants in the market ahead of the year-end holiday season.

The greenback USDJPY, +0.02%  was at ¥121.25, compared with ¥121.11 late Monday in New York.

The U.S. currency also was flat against the common currency EURUSD, +0.0092% which was at $1.0910 from $1.0920 late Monday. The euro EURJPY, +0.05%  was at ¥132.28 from ¥132.26.


The WSJ Dollar Index BUXX, -0.08% a measure of the dollar against a basket of major currencies, was down 0.05% at 90.09.

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