Market Overview
Global Stock Market Crashed, Dollar Tumbled after Episode 1 of US-China Trade War
Global stock markets suffered steep selloff last week as US President Donald Trump has finally declare the start of trade war with China. Dollar was under broad based pressure with the development, but it was only the second weakest one. Australian Dollar suffered most for it's close trade link...
Canadian Dollar Lifted by CPI, Markets Stabilizing after Panic Selloff
After steep selloff in the Asian markets, sentiments stabilized mildly in European markets. At the time of writing, DAX is trading down -1.45%, CAC down -1.2 and FTSE down only -0.25%. US futures also point to a flat open, and stocks may recover from yesterday's panic selloff. In the...
Global Markets Crash, Yen Surge as US-China Trade War Starts
US stocks tumbled sharply in the final hour of trading overnight, taking out key support levels in the wake of the start of US-China trade war. DOW closed sharply lower by -724.42 pts or -2.93% at 23957.89 overnight as fear of trade war intensified. S&P 500 was down -68.24...
Yen Steals the Show on Trade War Worries, Sterling Reversed after Brief BoE Spike
Sterling attempts to rally after BoE rate decisions but failed to sustain gain. On the other hand, Yen is quietly stealing the show on risk aversion. Investors are worried that the world is finally entering into the phase of trade war with US President Donald Trump's scheduled announce of...
Dollar Broadly Pressured after FOMC, Sterling Strong ahead of BoE
Dollar stays broadly pressured today as post FOMC selloff extends. While Fed delivered the widely anticipated rate hike, it maintained the forecast of a total of three hikes in 2018 only, not four. Aussie is the only failing to join the party against Dollar today after weaker than expected...
USD and NZD Weak ahead of FOMC and RBNZ, Sterling lifted by Job Data
Sterling is staying in the spotlight today as the set of job and wage data boosts the chance of a May BoE hike. The central bank's announce tomorrow is now rather important as some hawks could come back flexing their muscles. Similar strong for today is Canadian Dollar, riding...
Dollar Turns Soft as Markets Await FOMC Hike, Sterling Looks into Job Data
Dollar trades broadly softer in Asian session today as yesterday's rebound attempt lost steam. Traders are also turning more cautious ahead of FOMC rate decision. While Fed is widely expected to hike, the main question remains on whether there will be three or four hikes this year. Also, Jerome...
Euro Reverses as Germany Outlook Worsened Considerably, Sterling Pare Gains after CPI Miss
Euro and Sterling trade notably lower today as economic data missed expectation. Sterling remains relatively firm and stays as the strongest major currency for the week. The CPI miss was just 0.1% yoy, and Brexit transition deal should still give BoE policy makers a confidence boost. Euro, on the...
UK CPI Could Trigger Sterling Bulls and BoE Hawks
Sterling remains the strongest one as markets is now preparing for inflation data from UK today. The progress in Brexit negotiation removed one key obstacle for BoE to hike again in May. And CPI data will be a key factor for MPC's consideration. Hence, any upside surprise would likely...
Sterling Shines as UK and EU Agreed on Brexit Transition Deal
Sterling soars today on news that EU and UK has finally agreed on the Brexit transition deal. The pound is now set to take on 1.4144 resistance against dollar and 0.8686 against Euro. While notable weakness is seen in Euro against Sterling, it's actually performing quite well elsewhere. The...
Trade War a Major Theme in Busy Week of Central Banks, Data and Politics
The week open relatively quietly again with Swiss Franc leading the way down, followed by Aussie and Kiwi. Dollar strengthens broadly but it's again out shone by Japanese Yen. Asian markets are mixed with Nikkei trading down -0.8% at the time of writing. But HK HSI, China SSE are...
CAD, AUD, NZD All Suffered as Trump Stepping on Protectionist Acceleration Pedal
Yen maintained solid strength throughout last week as it ended as the strongest one. Meanwhile, the fortunes of commodity currencies suddenly reversed towards the end. Canadian, Australian and New Zealand Dollar ended as the three weakest ones. Some blamed the selloff in commodity currencies to Dollar's strength. But the...
Safe Haven Theme Dominates, Yen Strong, Commodity Currencies Weak
Safe haven flows remain the main theme in the forex markets today even though global equities are rather resilient. Yen and to a lesser extend Swiss Franc are trading generally higher. Meanwhile, commodity currencies, Canadian, Australian and New Zealand Dollars suffer most. Fresh selling is indeed seen in early...
AUD, NZD, CAD Weaken on Fear of Rising Protectionism
Commodity currencies, including Canadian, Australian and New Zealand Dollar are suffering steep selling towards the end of the week. New White House economic adviser Larry Kudlow's strong Dollar comment was seen by some as a factor, as he urged TV interview viewers to "buy King Dollar and sell gold"....
Dollar Mildly Higher after Solid Data but Upside Limited, Franc Shrugs off SNB
Dollar strengthens mildly in early US session after some solid economic data. But gain for the greenback is so far limited. While Dollar follow Yen as the second strongest major currency for today, it's still down again all but Aussie and Loonie for the week. US President Donald Trump...
Trade War Theme Dominates Markets, Dollar Stays Weak
Trade war continued to be the main theme in the financial markets. In particular, investors are getting increasing concerned with the reported USD 40b tariffs on Chinese goods by the US. DOW closed -1.0% lower overnight to 24758.12. S&P 500 was down -0.57% while NASDAQ lost -0.19%. In particular,...
Dollar Tumbles as Trump Preparing for Full Blown Trade War with China
Global markets tumbled on concern that US President Donald Trump is finally starting the steps towards a full blown trade war with China. DOW ended down -0.68%, or -171.58 pts at 25007.03. S&P 500 also lost -0.64%, or -17.71 pts to 2765.31. NASDAQ, which reached a new record high...
Dollar Selloff Restarts as CPI Just Met Expectation, Trump Fired Tillerson
Dollar suffers broad based selling in early US session as in-line with expectation CPI data is a relieve to market participants. Additional, the greenback is weighed down by political turmoil in the White House. Headline CPI accelerated to 2.2% yoy in February, up from 2.1% yoy and met expectation....
Forex Markets Indecisive, US CPI Awaited
Movements in the forex markets are not too decisive for the moment. Sterling made a bull run yesterday but there was no follow through buying. GBP/JPY is staying below 1.3929 near term resistance despite the rally attempt. GBP/JP's recovery since last week's low at 144.97 is also looking corrective....
Sterling Soars as UK Reported to be Close to Brexit Transition Deal
Sterling jumps broadly after Reuters reported that UK Junior Brexit Minister Robin Walker said it's very close to transition deal with the EU. But so far, no detail is reported yet. Meanwhile, Australian Dollar remains one of the strongest one today, together with the Japanese yen. Canadian Dollar is...