Market Overview
Yen Selloff Continues on Strong Stocks and Yields, Sterling Lifted by Hawkish BoE Comments
Yen's selloff continues as another week starts, backed by rebound in Asian stocks and Japanese yield. Indeed, 10-year JGB yield, currently at 0.093, is on track to 0.1 handle. Sterling is currently the strongest one, as lifted by hawkish comments from BoE officials over the weekend. Australian Dollar is...
Yen Crosses Followed Yields Higher Against, Loonie Rode on Oil
Yen was once again sold off broadly last week, following late rally in treasury yields despite disappointing US job report. Resilience in overall risk appetite also kept the Japanese currency pressured. Meanwhile, Euro followed as as distant second worst on selloff in crosses, as well as Dollar. New Zealand...
Dollar Tumbles after Huge NFP Miss, CAD Surges
Dollar tumbles in US session after another huge non-farm payroll miss. On the other hand, Canadian Dollar surges notably after solid employment data. As for the week, the Loonie is now in a pole position to end as the strongest. Yen is still the worst performing, but we'd see...
Yen Weakens, Yields and Stocks Surge, Focus Turns to NFP
Following strong rally in US stocks and treasury yield overnight, Yen is trading broadly lower today, together with Swiss Franc. Yen is also the worst performing one for the week, followed by Euro. On the other hand, Canadian Dollar is the winner for the week, followed by Aussie. Focus...
Euro Stays Pressured in Slow Markets, Risk Appetite Returning
Selloff in Euro remains the main theme in slow markets today. Return of risk appetite is also weighing down Dollar and Yen. On the other hand, commodity currencies are generally strong, with Aussie having an upper hand over Kiwi and Loonie. Sterling is mixed for now, partly supported by...
Euro Weakness Continues in Flip-Flopping Markets
Overall markets continue to be rather mixed for now. Commodity currencies rally in Asian session, as led by Aussie, following rebound in the stock markets. On the other hand, Dollar is turning softer again, together with Yen. Euro's weakness is the more persistent development this week, in particular against...
Dollar Stronger on ADP, Falling Stocks and Rising Yields, Euro Tumbles
The markets are back on risk-off mode again today, while major global treasury yields trade higher. Stronger than expected ADP job data provides little support to over sentiment. Yen is leading the way higher, followed by Dollar and Swiss Franc. On the other hand, despite RBNZ delivering the expected...
Kiwi Down after RBNZ Rate Hike, Yen Softer on Rising Yields Again
New Zealand Dollar trades mildly lower together with commodity currencies in quiet Asian session. Overall markets are mixed as Japan and Hong Kong stocks head lower, decoupling from the strong rebound in the US overnight. Dollar appears to be supported by the rise in treasury yields, with 10-year yield...
Sterling Rises in Stable Markets, Euro and Swiss Franc Soft
Market sentiment is stable today, with European index trading mildly higher while US futures point to a rebound. But overall direction remains rather unclear. Sterling is currently the stronger one, with additional help from buying against other European majors. Kiwi is also firmer, awaiting tomorrow's RBNZ rate hike, followed...
Aussie Soft after Uneventful RBA, Dollar Recovering after Brief Selloff
Dollar is regaining some ground in Asian session today, as yesterday's selloff was relatively well contained so far. Sterling is also recovering, together with Euro, against others. On the other hand, Australian Dollar turns softer after uneventful RBA rate decision. Other commodity currencies are also weak. Overall markets will...
Swiss Franc Rises Broadly as Dollar and Yen Pare Gains
Swiss Franc is the winner so far today, as Dollar and Yen pare back some of last week's gains. Meanwhile, Euro is also soft after poor investor confidence data. On the other hand, New Zealand Dollar is following closely as second strongest, on anticipation of RBNZ rate hike later...
Yen to Follow Risk Sentiment, RBA and RBNZ Featured Early in the Week
While some selling pressure is seen in Asian stocks, the forex markets are relatively steady. Canadian Dollar is currently the stronger one, followed by Yen. Sterling is the softer one, followed by Swiss France, Euro and Dollar. Overall risk sentiment will continue to drive the markets this week and...
Dollar Index Could Be Capped by 94.46 Fibonacci Level as Yields Rally Halts
Dollar had been the strongest for most of the week but lost it first place at the time, as treasury yields retreated. Instead, resilient risk appetite in the US, as well as firm oil price helped Canadian and Australian Dollars stole the first and second place. On the other...
Dollar Continues to Pare Gain, Shrugs Higher PCE Inflation
Dollar continues to pare gains in early US session as the week is coming to a close. PCE inflation data is largely ignored by the markets, while Euro also shrugs CPI. Canadian Dollar also ignores smaller than expected GDP contraction. Sterling is leading the way in the rebound, followed...
Yen Rebounds on Steep Selloff in Stocks, ISM and PCE in Focus
Yen recovered much ground as US stocks tumbled steeply overnight. Meanwhile, Dollar remains generally firm, as partly supported by resilient treasury yields. Selling in Euro and Sterling slowed a little bit while commodity currencies are turning softer. ISM manufacturing and PCE inflation will come into spotlight today. But overall...
Selling Focus Turns to Euro as Dollar Digests Gains
As Dollar is digesting this week's yield supported rally today, selling focus is turning to Euro, in particular in crosses. Meanwhile, firmer overall risk sentiment is supporting commodity currencies and Sterling, with Aussie being the stronger one. Yen and Swiss Franc are generally softer on stable risk sentiment.
Technically, as...
Dollar Breaking Key Resistance Levels as Yields Hold Firm
Dollar retreats mildly in Asian session but remains the strongest one over the week. The rally in treasury yields appear to be taking a breather. But 10-year yield is holding firm above 1.54 handle, while 30-year yield is also above 2.0 handle. Canadian is following as the second strongest,...
EUR/USD Breaks Key Support as Dollar Rise Continues
Dollar is generally strong today, but buying focus is temporarily shifted from against Yen to Euro and Sterling. In particular, EUR/USD has taken out key support level at 1.1663. Overall markets are mixed though, with stocks recovering while treasury yields retreat. Yen and Swiss Franc are the stronger ones...
USD/JPY Pressing 110.6/7 as Treasury Yields Extend Rally
Dollar is currently the strongest one for the week so far, as helped by strong rally in treasury yields as well as pull back in stocks. Yen also stays week but the selling in crosses is cushioned by uncertain risk sentiment. Sterling is also soft with eyes on the...
Sterling Tumbles on Energy Worries, Rising Yields Supports Dollar
Sterling tumbles broadly today on increasing talks of energy shortages due to a post-Brexit shortage of truck drivers, as well as a halt to license testing during pandemic lockdowns. Mild risk aversion, which start in European markets, is also weighing down some commodity currencies. Nevertheless, there is little lift...