Market Overview
Dollar Rebound in Progress But Momentum Weak, Aussie Selloff Extends
Dollar is still trading as the strongest for today even though the rebound looks a bit unconvincing. In particular, the greenback is effectively just range bound against against European majors. And in fact, it's taking turn to be the strongest with Swiss Franc. Meanwhile, Australian Dollar remains the weakest...
Australian Dollar Plunges on Political Turmoil, Dollar Higher as Tariffs on China Kicks In
Political turmoil in Australia takes the headline over from the US as the Aussie dives broadly today. While two former aides of Trump are likely going to jail soon, special prosecutor Robert Mueller's investigation will take long to complete. However, Australia could have the seventh Prime Minister in a...
Dollar Selloff Intensifies on Trump, Euro and Swiss Franc Surge
Dollar suffers fresh selling entering into US session, in particular against Euro and Swiss Franc. Two former aides of Trump, campaign manager Paul Manafort and personal lawyer Michael Cohen are found guilty on a range of charges. More importantly, Cohen's attorney Lanny Davis said in a statement that Cohen...
Sterling Lifted by Positive Brexit Meeting, Yen Weak as S&P 500 Hit Record
Dollar and Yen remains the weakest one for the week. While sell-off slows a little bit in Asian session, there is no sign of bottoming yet. Dollar is apparently still weighed down by Trump's comments on Fed policy. On the other hand, Yen is pressured by solid risk appetite....
Dollar Stabilizes Mildly as Selling Focus Turns to Yen
Dollar and Yen are pressured by all other major currencies throughout the day. The greenback continues to be weighed down by Trump's attack on Fed, and Jerome Powell personally, regarding rate hikes. Nonetheless, the greenback is showing a little sign of stabilization and sell focus turns to Yen. At...
Dollar Sold Off on Trump’s Personal Attack on Fed Chair Powell
Dollar weakens broadly overnight on Trump's attack on Fed's policy. It started after Bloomberg reported that Trump lamented Fed chair Jerome Powell for not being the "cheap-money" chair he expected. Then Trump reiterated his comments that he's "not thrilled" with interest rate hikes in Reuters interview. But this time,...
Sterling Mildly Higher But Markets Stay in Overall Consolidative Mode
The forex markets are staying in quiet consolidative mode today. Sterling trades generally higher and is the strongest one for the time of writing. But the momentum is nothing more than that we see inside corrective trading. That is, rather weak, without follow through. Swiss Franc follows as the...
Markets Range Bound; US-China Trade Talk, Brexit and German-Italian Spread to Watch
The forex markets are rather quiet today with major pairs and crosses bounded in Friday's range. It's back to business as usual for a Monday, without any surprise. For now, Swiss Franc is trading as the strongest, followed by Dollar. New Zealand Dollar, Euro and Australian Dollar are the...
Trade War Back as Main Theme as Turkish Crisis Eased, US and China to Meet
The forex markets turned into consolidative mode last week as Dollar and Yen lost momentum. Turkish currency crisis hit a climax on Monday but worries eased after the government's measures were well taken by investors. The fear of extra sanctions by the US on Turkey caused some jitters. But...
Canadian Dollar Surges on Strong Inflation, Yen Strong on Risk Aversion
Canadian Dollar makes a massive strike back as boosted by very strong inflation reading. The Loonie is now trading as the biggest gainer for today. While Yen's no.1 place is taken, it's staying the second strongest as supported by risk aversion. Dollar is trading as the weakest one for...
Dollar and Yen Staying in Shallow Consolidation Despite Massive Stock Rebound
The strong stock rallies in the US generally carry through to Asian session. At the time of writing, Nikkei is up trading up 0.45%, Hong Kong HSI up 0.58%, Singapore Strait Times up 0.52%. That followed the impressive 1.58% rebound in DOW overnight, with S&P 500 gained 0.79% and...
Yen and Dollar Not in Reversal Yet, Low Expectation on US-China Trade Talks
The forex markets are clearly in consolidation mode today. Yen and Dollar trades broadly lower as they digest recent gains. But Canadian Dollar is, at the time of writing, the weakest one. Australian Dollar and New Zealand Dollar are the strongest one on receding risk aversion. While sentiments could...
Yen and Dollar Pare Gains as US-China Trade Talk to Resume
While the financial markets are staying in risk averse mode generally, two development helped stabilized sentiments mildly. Firstly, Qatar offered to inject investments in Turkey as an act of "friendship". The news helped lifted DOW from day low of 24965.77 to close at 25162.41, just down -0.54%. Secondly, China...
Dollar Surges on Strong Retail Sales, But Yen Even Stronger on Risk Aversion
Dollar jumps higher in early US session as supported by strong retail sales data. But the greenback is once again outshone by Yen on risk aversion. At the time of writing, DAX is down -1.22%, CAC is down -1.19% and FTSE is down -1.17%. Earlier in Asia, Nikkei lost...
Dollar Power Higher as Renewed Selloff in China Yuan Weighs on Sentiments
Renewed selloff in the Chinese Yuan weighs down sentiments across Asia and boosts the greenback today. USD/CHN breaks recent high at 6.912 to resume up trend. With that, China Shanghai SSE is trading down -2.31% at the time of writing. Hong Kong HSI is down -1.52%, Singapore Strait Times...
No Rebound in Euro and Sterling after Mixed Data, Yen Retreat Continues
Some important economic data were released during the European session. But they provide little lift to Euro and Sterling. In particular, even though UK unemployment rate dropped to 43 year low, deceleration wage growth gives no pressure to BoE to hike again soon. German economic sentiment improved but still...
Dollar Ready to Take Control from Yen While Sentiments Remains Vulnerable
The forex markets are rather steady today. Turkish turmoil seemed to have passed its climax for the near term. Swiss Franc and Yen are trading lower as that part of risk aversion receded. Meanwhile, New Zealand, Canadian and Australian Dollar are generally higher, together with Sterling. Though, it remains...
Reactions to Rumor of Releasing American Pastor Shows Markets Ready for a Bounce
With a near empty economic calendar, the focus is entirely on development in Turkey. Turkish central bank's announcements did calm the markets. While USD/TRY breached 7.2 earlier, it dipped to as low as 6.4136 after CBRT's announcement. At the time of writing, it's back at 6.9 with an eye...
Turkish Lira Calmed by CBRT Announcements, But Stays Vulnerable
Turkish Lira continues to be the dominant theme in the financial markets today. The efforts by the government seemed to have calmed the markets a bit, in particular after CBRT's announcements. But at the time of writing, USD/TRY is still up more than 4% today at around 6.7. It's...
Looking Through the Turkish Currency Crisis, Dollar is Strong Anyway
It was one of those wild week in the financial markets with a number of market moving themes. New Zealand Dollar was the worst performing one after RBNZ made itself clear that interest rate is going to stay low for longer. And the next move could either be up...