Market Overview
Dollar Mixed after Strong GDP, But Weak ADP Jobs
Dollar continues to trade mixed in early US session. Negative effect of ADP job data is more than offset by stronger than expected Q3 GDP growth. The greenback will now look into FOMC rate decision for guidance. The key is whether Fed will signal the end of mid-cycle adjustment...
Dollar Softer as Markets Await US GDP and Fed Rate Cut
Dollar and Canadian are both trading with an undertone as markets await BoC and FOMC rate decisions, as well as US GDP data. Sterling appears to be mildly firmer as UK is finally heading towards election in mid-December. But there is no clear follow through buying. Swiss Franc and...
Yen Mixed as Risk Appetite Fades, Europeans Soft on UK Election
Australian Dollar remains the strongest one for today as boosted by optimism over US-China trade deal. But the markets are relatively mixed elsewhere. Yen couldn't decide what to do as risk appetite fades in European session, while US stocks also open mildly lower. European majors are generally soft on...
Aussie Surges on US-China Trade Optimism, Yen Broadly Lower
Australian and New Zealand Dollar rise broadly on optimism that US and China are "ahead of schedule" in completing the phase one trade deal. Dollar and Canadian are not too far away but buying is relatively refrained ahead of Fed and BoC rate announcement. On the other hand, European...
Swiss Franc and Yen Weaken on Risk Appetite, US Stocks to Hit Record
Swiss Franc and Yen weaken broadly again today as risk appetite returns to markets. In particular, US stocks are set to challenge record high, on trade optimism, as well as expectation of another Fed rate cut. European stocks, except FTSE, also rise mildly as EU agreed on a three-month...
Dollar Mildly Higher ahead of FOMC and Lots of Data
Dollar trades mildly higher in quiet trading today so far, but Euro is a bit stronger. On the other hand, Sterling and Canadian Dollar are the relatively weaker ones. All these four currencies have something to look at this week, which might trigger strong moves. In particular, the greenback...
Dollar and Loonie Strengthened as USD/CAD Presses 1.3 ahead of Fed and BoC
Canadian and US Dollars ended last week as the strongest ones. It now appears that US and China are on track to complete the easier phase 1 trade deal in November. Optimism lifted stocks as well as oil prices, which indirectly helped the Loonie too. Also, recent developments in...
Euro Soft on Weak Business and Consumer Sentiments
Trading in the forex markets remain subdued ahead of weekly close. Euro is generally softer as data showed German business and consumer sentiments remained weak. Also, professional forecasters downgraded Eurozone inflation and growth projections in latest survey. For the week, Canadian Dollar remains the strongest one, followed by Dollar...
Dollar Still Lacks Committed Buying as Markets Stay in Consolidation Mode
Consolidations continue generally in the forex markets today, with the exception of notable strength in Canadian Dollar. The Loonie is so far the strongest one follow the week as helped by rebound in oil price. Dollar is currently following as second strongest but there is no committed follow through...
Euro Shrugs ECB Meeting, Dollar Ignores Weak Durable Orders
The forex markets remain generally steady in early US session. ECB rate decision triggered little reactions as widely expected. Also, markets was also indifferent to poor PMIs from Eurozone. Meanwhile, weak durable goods orders report from US was shrugged off. And positive news regarding US-China trade deal was ignored....
Euro Softer in Consolidations ahead of Draghi’s Last ECB Meeting
Consolidative trading continues in the forex markets as major pairs are crosses are stuck in tight range. Yen weakened mildly overnight but there was no follow through selling through recent highs. European majors are also mildly softer, without sustainable decline. ECB meeting is a focus today but it will...
Yen Softens as Risk Sentiments Stabilized, in Quiet Trading
The forex markets turns mixed in relatively quiet trading today. Earlier selloff in Asia stocks didn't carry forward to other markets. Yen turned slightly softer, following Australian Dollar as second weakest. Sterling's selloff halted and recovers broadly as consolidations continue. Stabilization in the Pound also takes other European';s mildly...
Markets in Mild Risk Aversion on Political Risks, Sterling Mixed after Brexit Votes
Yen and Swiss Franc rise broadly in Asian session today, followed by Dollar, on mild risk aversion. Traders are seeing some risk of a snap election in UK after the schedule of Brexit deal was voted down. Additionally, political risks in Hong Kong continued on news that China is...
Sterling Softens ahead of Brexit Vote, Canadian Dollar Weighed Down by Retail Sales
Canadian Dollar turned mixed as the brief lift from election results faded. Instead, the Loonie is under mild selling pressure after poor retail sales data. Nevertheless, Sterling is the weakest one for today as traders turn cautious ahead of vote on Brexit and bill time table. Pull back in...
Canadian Dollar Firm after Trudeau’s Minority Win, Sterling Awaits Brexit Vote
Canadian Dollar rises slightly higher after Prime Minister Justin Trudeau cling on to power following election wing. His Liberal Party had won, or were leading in 155 out of 338 seats in the parliament. That was short of the 170 seats needed to take majority and the Liberal might...
Brexit and Trade Optimism, Sterling Firms Up While Yen Softens
Yen trades broadly lower today, following rally in treasury major global treasury yields. Investors are generally optimistic that, despite all the obstacles, UK Prime Minister Boris Johnson is able to deliver orderly Brexit eventually. Comments from China and US regarding trade negotiations were also affirmative. For now, Euro follows...
Sterling Just Mildly Lower on Brexit Drama, Aussie Firm US-China Trade Progress
Sterling opens the week mildly lower as Brexit uncertainty is dragging on. Nevertheless, selling pressure is weak so far because there is still enough time for the Commons to ratify the Brexit deal to even avoid another extension. At this point, Swiss Franc is following as second weakest, then...
Sterling Rally in Jeopardy after Johnson’s Defeat, Dollar Selloff Exaggerated
Sterling surged broadly last week after as UK Prime Minister Boris Johnson struck a new deal with EU on Brexit. It appeared that UK was on track to leave EU on October 31 in an orderly way. The development also took other European majors higher. However, uncertainty re-surfaced as...
Sterling Consolidates ahead of Crucial Brexit Votes, Dollar Soft
Sterling remains steady today as traders are all holding their bets ahead of tomorrow's crucial vote on the new Brexit withdrawal agreement. Canadian Dollar follows as second weakest as oil price recovery cannot gather momentum. On the other hand, New Zealand and Australian Dollars firm up mildly. Over the...
Markets Shrug Poor China GDP, Aussie and Kiwi Firm
Australian and New Zealand Dollar are slightly firmer in Asian session today despite Chinese GDP miss. The stronger than expected industrial production growth ease some concerns over worse slowdown in Q4. Meanwhile, Sterling continues to consolidation in tight range, digesting this week's strong gains. The Pound's fate will heavily...