Action Insight

It seems that traders are already on holiday with the subdued market activity today. Sterling softens again on reports that EU rejected UK's latest proposal on fishing rights. Australia and Zealand Dollars also dip mildly. On the other hand, Swiss France firms up together with Euro, followed by Dollar...

Sterling's exceptional volatility continued as traders turned a bit more optimistic on a Brexit trade deal. But upside remains capped, as nothing is done until everything is done. Markets are also mixed elsewhere, with the positive impact of US fiscal stimulus being offset by worries over new strain of...

European markets open the week in heavy selloff on worries over a new strain of coronavirus discovered in the UK, which was seen as "out of control" by the Health minister. At the time of writing, DOW future is also down around -500 pts. Dollar is staging a broad...

Gold’s rebound late November has continued for a third week. Besides bargain hunting, Fed’s pledge to keep the policy rate low and strengthening in the forward guidance in QE, as well as the latest fiscal package approved by the Congress are the key driving forces supporting the yellow metal. The...

Sterling opened the week broadly lower after Brexit trade negotiations missed yet another deadline. Additionally, European countries rushed to ban travel from UK as coronavirus infections worsened. Aussie and Kiwi are trailing as the next weakest on mild risk aversion. On the other hand, Dollar, Yen and Swiss Franc...

Dollar's broad based down trend resumption was a major theme last week. Though, Canadian Dollar was the worst performing one, as it digested recent oil price supported rally. Overall risk appetite, with NASDAQ extending record run, kept Yen and Swiss Franc soft too. As Brexit trade negotiations went into an...

US dollar's weakness continued as risk appetite improved. As suggested in the CFTC Commitments of Traders report in the week ended December 15, NET SHORT of USD Index futures more than doubled to 14 056 contracts. Speculative long positions plunged -8 499 contracts and short positions dropped -929 contracts....

According to the CFTC Commitments of Traders report for the week ended December 15, NET LENGTH for crude oil futures decreased -825 contracts to 513 804 for the week. Speculative long position fell -6 539 contracts, while shorts declined -5 714 contracts. For refined oil products, NET LENGTH for...

Trading in the financial markets are rather subdued today, pretty much in pre-holiday mood. Dollar is still in recovery mode but upside momentum has been very weak. The greenback is set to end as the worst performing one, followed by Canadian and then Swiss Franc. On the other hand,...

Dollar recovers broadly today as markets turn into consolidative mode. The greenback pars back some of f the previous selloffs. but remains the worst performing one for the week. Canadian Dollar and Swiss Franc follow as the next weakest. On the other hand, Sterling and Aussie turn a bit...

Dollar's selloff intensifies further today, after worse than expected job data. Also, markets are generally on risk-on mode, as traders are optimistic that stimulus deal could be reached in the Congress soon. Swiss France is currently the next weakest, having little reactions to SNB rate decision. Australian and New...

BOE left the Bank rate unchanged at 0.1% and the asset purchase program at 875B pound. The central bank remained cautious about the “unusually uncertain” economic outlook and pledged to take “whatever additional action is necessary” if the outlook for inflation weakens. Despite forecasts that GDP growth in December...

Dollar's decline continues in Asian session today, with mild risk-on markets in the background. FOMC rate decision overnight triggered little reactions in the markets, and the greenback holds on to the near term trajectory. Sterling is currently the strongest one, awaiting BoE rate decision, and more news regarding Brexit...

The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks fell -6.24 mmb to 1367.64 mmb in the week ended December 11. Crude oil inventory fell -3.14 mmb (consensus: -1.94 mmb) to 500.1 mmb. Stockpile decreased in 3 out...

The major changes in the December were forward guidance in the asset purchase program (QE) as well as upgrades in economic forecasts. The Fed left the policy rate unchanged at 0-0.25% and asset purchases at US$120B per month. The updated median dot plot suggests that no rate hike is...

Sterling and Euro rise broadly today and maintain gains in early US session. Progress in Brexit trade negotiations and stronger than expected PMIs lift both currencies as well as their respective stock markets. Canadian Dollar is currently the worst performing one for today, apparently reacting to BoC's jawboning. Risk-on...

Dollar trade with a generally soft tone today, with strong risk-on markets in the background. But overall, most major pairs and crosses are bounded inside last week's range. The economic calendar is extremely busy for the rest for the week. But there are still a couple of things to...

For QE expansion at the last meeting, we expect the BOE will keep its powder dry this month. BOE should leave the Bank rate unchanged at 0.1%, and the size of asset purchases (QE) at 875 pound. There have been mixed developments since the November meeting. Economic data released...

The forex markets are relatively mixed today. Sterling is generally higher but it's capped by conflicting messages regarding Brexit trade negotiations. Canadian Dollar is currently second strongest, with help from mild strength in oil price. On the other hand, New Zealand Dollar is the worst performing, followed by Euro...

The latest set of economic data indicates economic recovery in China continued. Growth in industrial production improved slightly, while manufacturing investment accelerated, thanks to strong exports growth. Retail sales growth accelerated, suggesting internal circulation has taken effect. Industrial production expanded +7% y/y in November, inline with expectations and up +0.1...