Market Overview
Sterling Dives after Poor GDP, Yen Lower on Rising Yields
Sterling is sold off broadly today as poor GDP data added to the case of BoE rate cut. Recent comments from BoE officials already suggested that they're open to easing if data don't show improvement. The Pound will face more tests from CPI and retail sales later in the...
Risk On Ahead of US-China Trade Deal, Sterling Weak and Aussie Firm
Asian markets are generally in risk on mode today as traders await signing of US-China trade deal phase one. Commodity currencies strengthen with Australian Dollar leading the way up. On the other hand, Sterling is currently the weakest one as weighed down by dovish comments from BoE officials. A...
Dollar Rally Jeopardized by Job Data, No Bullish Reversal Yet
After some jitters on Iran tensions, Dollar ended up as the strongest one last week. Strong stocks and steady yields provided some support to the greenback. Fed officials also reaffirmed the base stance to stand pat this year. US and China are on track to sign the phase one...
Dollar Retreats after NFP Miss, But Loss Limited
Dollar retreats mildly in early US session after non-farm payroll reports missed market expectation. But loss is limited as the set of data was decent even thought not spectacular. Indeed, there is prospect of more Dollar rally once the knee-jerk reactions fade. For now, Swiss Franc and Yen is...
Dollar Supported by Fedspeaks, Awaits NFP for Next Move
Markets are somewhat staying in risk on mode with US stock indices making new record highs overnight. But upside momentum in Asia markets is relatively weak. Australian and New Zealand Dollars are mildly firmer today, paring some of this week's losses. Meanwhile, Yen and Canadian Dollar are the weaker...
Dollar Firm as Markets Turn Risk On, Sterling Soft
Markets are generally back on risk on mode today as the concerns of US-Iran tensions faded. Also, it's finally confirmed that Chinese Vice Premier Liu He will travel to the US for signing the trade deal phase one. Dollar rises broadly with deeper pull back in oil prices and...
Dollar Rises as Iran Risks Fade, Yen and Franc Soften
Yen and Swiss Franc weakened notably as imminent US-Iran war receded. Canadian Dollar also turned slightly softer as oil prices reversed this week's gains. Dollar is currently trying to ride on the development to extend recent rebound. But the real will probably lie in tomorrow's non-farm payroll report. For...
Dollar Rebounds on Lesser Iran Risks and Strong Job Data
Dollar rebounds strongly as risk of imminent escalation in US-Iran tensions seem to have eased. It's reported there was no casualties caused by Iran's retaliation strikes against US forces in Iraq. The greenback is additionally supported by strong ADP employment report. Dollar follows New Zealand Dollar as second strongest....
Gold Jumps on Iran Retaliation, Markets Calmed by Trump’s Refrained Response
Dollar turns slightly softer, broadly, as Middle East tensions escalated after Iran's strike against US forces in Iraq. But loss is so far limited after President Donald Trump's refrained response. Markets generally calmed down for now, awaiting Trump's statement later in US morning. Yen and Canadian Dollar are the...
Dollar Surges Broadly, Aussie Selloff Accelerates
Dollar is trading generally higher today and Middle East tensions seem to be out of traders' mind already, without any new developments. Instead, markets are focusing back on fundamentals and central bank expectations. Thus, Australian and New Zealand Dollars are suffering steep selloff despite return of risk appetite. In...
Yen Turns Soft as Sentiments Stabilized, No Further Escalation in Middle East Tensions
Market sentiments have generally stabilized, with no further escalation in Middle East tensions so far. Asian stocks are trading generally higher. US indices closed with slight gains after reversing initial losses. Focus should now be turned back to economic data. The currency markets is relatively mixed for today. New...
Euro and Sterling Rebound on Economic Data, Risk Aversions Continue
European majors stage a strong come back today as supported by positive data. Germany investor confidence recorded a strong rebound while UK PMI services was revised up. On the other hand, despite continuous risk aversion on Middle East tensions, Yen is pairing some of last week's gains. Dollar follows...
Middle East Tensions Continue to Dominate as Gold and Oil Surge
Middle East tensions continued to drive risk aversion in the markets as another week started. Stocks in Asia are generally in red, except in being mixed in China. Gold and oil price surge sharply on safe haven flows. Movements in the currency markets are relatively limited though. Canadian Dollar...
Yen, Gold and Oil Jumps as Geopolitical Risks Cloud Markets
The financial markets took a roller-coaster ride as 2020 started with a bang. US stocks jumped to new record higher to celebrate new year. But sentiments took a great turn after abrupt escalation in Middle-East tensions. Safe-haven flows into Gold, Yen and US treasuries came in unison. Oil prices...
Risk Aversion Continues on US-Iran Conflicts
Risk aversion is the dominant theme today, with deep selloff in global equity markets. Treasury yields took a dive while gold and oil prices surge. Sentiments are rocked by abrupt escalation in Middle East tensions, after US military had killed Qasem Solemaini, the head of Iran's Islamic Revolutionary Guard...
Middle East Tensions Push Yen, Franc and Oil Higher
Yen and Swiss Franc jump sharply as markets turned from strong risk appetite to risk aversion. Despite record closes in US stocks, Asian markets tumble on fresh geopolitical tensions in Middle East. Oil prices also skyrocket together with gold, while treasury yields tumble. In the currency markets, Australian and...
Dollar Attempting Recovery Together With Yen, Market in Consolidation Mode
Dollar started the first trading day of 2020 with mild recovery, as the year end selloff seems to have passed the climax temporarily. Though, Yen is currently even stronger. On the other hand, European majors are generally lower for the moment. But overall, the forex markets appear to be...
Dollar Soft in Holiday Trading, Sterling Extending Rebound
Dollar remains soft in mixed, quiet market in Asia. Trading is subdued, on holiday mood, with no reaction to Chinese data, nor the surprised PBoC RRR cut. Calendar is light today too, with PMI manufacturing final reading from, Eurozone, UK and US. There is little change in the weekly...
Dollar Ends the Year With Accelerated Selloff
Dollar selloff accelerates further as 2019 is heading to an end. The signing of US-China trade deal phase one should now be confirmed, but that provides little support to the greenback. Instead, Dollar dives through some key technical levels. As for today, Sterling is the strongest one, followed by...
AUD/USD Breaks 0.7 as Dollar Selloff Extends
Dollar's selloff continues on the last trading day of the year, while markets are rather mixed elsewhere. Australian Dollar is the strongest one for now, but it's followed by Japanese Yen. Meanwhile, New Zealand Dollar is the weakest one, followed by Euro and Sterling. Trading will likely become more...