Dollar Softens as Risk Sentiments Stabilize, FOMC Minutes Next
The forex markets are generally range bound as traders await FOMC minutes. The main focus will be on discussions on the timing of tapering, which wasn't clearly indicated in the statement and economic projections. Dollar's rise appears to be losing steam as global sentiments stabilized today. DOW futures point...
Dollar and Yen Rebounds, Following Mixed Stocks and Sliding Yields
Yen and Dollar surged strongly overnight, but lost some momentum after on stocks recovered from initial steep selloff. Both are still firm with Asian markets in risk aversion mode. Canadian Dollar is currently the worst performing for the week, followed by Aussie. Focus will now turn to FOMC minutes...
Euro Drops after Germany ZEW, Kiwi and Aussie Maintains Gain
Euro drops broadly today following sharp decline in Germany ZEW economic sentiment. Swiss Franc is following down closely too. On the other hand, New Zealand Dollar remains the strongest on RBNZ rate speculations while Australian Dollar follows as support by RBA tapering. Yen and Dollar are mixed, together with...
RBA to Begin QE Tapering in September
As widely anticipated, the RBA announced some changes in the monetary policy. The overall tone of the meeting and the policy statement is upbeat about the economic recovery while cautious over the uncertainty and subdued inflation.
Policymakers remain optimistic over economic developments. As noted in the meeting, “the outlook for...
Kiwi Surges on RBNZ Hike Talks, Aussie Firm after RBA
New Zealand Dollar is the star winner in Asian session today on RBNZ rate speculations. The Kiwi has taken Aussie higher today, but the latter lost some steam after unsurprising RBA policy decision. Though, Aussie is still maintaining most of gains, together with Sterling. On the other hand, Dollar,...
Euro Shrugs Strong Investor Confidence, Markets in Subdued Holiday Trading
Overall, the forex markets are relatively mixed today and trading will probably continue to be subdued with US on holiday. Sterling is currently the stronger one, followed by Yen and Aussie. Canadian is the weakest, followed by Kiwi and then Swiss. Eurozone is mixed despite strong investor sentiment data....
RBA to Announce Adjustments in QE and YCC Programs
Important decisions will be made at this week’s RBA meeting. All monetary policy measures would remain unchanged. Yet, as indicated in June, policymakers would discuss on the format of QE purchases after completion of the current tranche in September, and the maturity of bonds in yield curve control. While...
Markets Shrug Weak China Services Data, Euro Soft ahead of Investor Confidence
Dollar and Yen recover some ground in mixed Asian session today. Stocks in Japan and Hong Kong are slightly down by China and Singapore are steady. Much weaker than expected services data from China triggered little reactions. Swiss Franc is retreating against other major currencies but losses are limited....
CFTC Commitments of Traders – Net Longs Declined in European Currencies
As suggested in the CFTC Commitments of Traders report in the week ended June 29, NET SHORT of USD index futures slipped -62 contracts. Speculative long positions added +629 contracts while shorts increased +567 contracts. Concerning European currencies, NET LENGTH in EUR futures dropped -1 911 contracts to 87...
CFTC Commitments of Traders – Bets Trimmed on Crude Oil Futures amidst OPEC+ Uncertainty.
According to the CFTC Commitments of Traders report for the week ended June 29 NET LENGTH for crude oil futures fell -1 442 contracts to 522 490 for the week. Speculative long position decreased -5 113 contracts, while shorts slipped -1 442 contracts. For refined oil products, NET LENGTH...
Focus Might Turns to Euro Selling While Dollar Rally Capped by Strong Risk Appetite
Dollar ended as the strongest one last week but Friday's steel fall after solid non-farm payroll job reports suggests that it's rally is already losing steam. It's still a bit early to call a bearish reversal for the greenback. Yet, strong risk-on sentiments could cap Dollar's upside attempts ahead,...
Dollar Struggles to Ride on Strong NFP, Retreating Mildly
Dollar struggles to ride on stronger than expected non-farm payroll growth, and it's indeed retreating notably in early US session. Stocks are also not too enthusiastic so far, with DOW futures up only around 0.2% at the time of writing. Still, the greenback is more likely to finish as...
Dollar Resuming Rally as Focus Turns to Non-Farm Payrolls
Dollar's rally resumes after brief consolidation as focus now turns to non-farm payroll report. While some Fed officials might sound optimistic on their expectation on tapering later this year, it's certain that Fed won't move unless upbeat outlook is realized in economic data. Successive solid job growth for a...
Indecisive OPEC+ Gives Further Boost to Crude Oil
After delaying the meeting to discuss output quota for a day, the OPEC+ still fails to reach a deal regarding production increase for the coming months. News headlines suggest that the increase could eventually be below market expectations. Crude oil prices jumped with the front-month WTI contract rose to...
Dollar Soars Against Yen, But Retreats Elsewhere
Dollar surges sharply against Yen today and maintains gain after better than expected job data. Though, the greenback is retreating mildly against other major currencies, as traders are probably lightening up their positions first ahead of tomorrow's non-farm payrolls. Comments from ECB and BoE officials gave Euro and Sterling...
Dollar Rally Taking Shape One Step at a Time
Dollar's rally continues to make progress, one step at a time. Solid job report overnight helped lift the greenback through near term resistance against Euro and Yen. Nevertheless, reaction in stocks were subdued. Focus will now turn to ISM manufacturing today for more inspirations. Meanwhile, commodity currencies and Swiss...
US Crude Inventory Sank Much More than Expected
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks declined -4.58 mmb to 1278.28 mmb in the week ended June 25. Crude oil inventory slumped -6.72 mmb (consensus: -4.69 mmb) to 452.34 mmb. Stockpile decreased in 4 out...
Dollar Up on ADP Job Data, Sterling Lifted by BoE Haldane
Dollar and Loonie rise in early US session after better than expected economic data. Sterling follows closely after hawkish comments from BoE chief economist. As for today, Swiss Franc is currently the worst performing, followed by New Zealand and than Australian Dollars. The greenback is surviving the first data...
Gold Rarely Declines with Real Yield. This Time Due to USD Strength
Gold price got dumped, falling to the lowest level in over 2 months. Losing over -7% against USD in June, the selloff this time has been driven by strong US dollar, rather than higher yields. The greenback is darling of the market recently, thanks to strong economic data, a...
Dollar Consolidating Gains as Focus Turns to ADP Employment First
Dollar and Yen are consolidating this week's gains in Asian session today. There is no clear sign of topping in both Dollar and Yen. Yet, there is also no follow through buying to push Dollar through main near term resistance against other major currencies. Fed looks on track to...