Dollar remains stable in early US session despite release of another set of persistently high inflation figures. The strong rebound in DOW futures suggest that investors are somewhat relieved to see no disastrous surge in inflation rates. Additionally, robust spending growth appears set to continue bolstering the US economy,...
Japanese Yen resumes its free fall today, after a brief pause, and reaches new 34-year low against Dollar. Yen's weakness is also broad-based and evident against other major currencies, with EUR/JPY marching towards its 2008 high and GBP/JPY heading to its 2015 peak. It's clear that the absence of...
Risk sentiment took a sharp downturn following the release of US Q1 GDP data, which revealed weaker-than-expected economic growth alongside an acceleration in both headline and core PCE price indexes. This combination suggests that the US economy may be caught in a challenging cycle where high interest rates are...
Japanese Yen's accelerated decline captured significant attention in Asian session, while the broader currency markets remained generally stable. Market participants interpret the apparent lack of urgency from Japanese officials to address Yen's fall as a tacit approval for its continued depreciation. This perspective gains significance following the recent trilateral...
Dollar is making a modest recovery in early US session, supported by slightly better-than-expected durable goods orders and recovery in benchmark Treasury yields. However, the overarching direction of the greenback for the near term remains uncertain, largely dependent on shifting risk sentiments. Current stock futures are showing mixed opening,...
Australian Dollar is having a robust, broad-based rally today, boosted by unexpectedly strong CPI data. This inflation report is particularly notable given the unexpected reacceleration in monthly CPI in March, which contributed to the quarterly figure not slowing as much as anticipated. Meanwhile, both services and domestic inflation remain...
Sterling and Euro rebound broadly today, bolstered by encouraging PMI data that suggests continued recovery momentum in both UK and Eurozone. For the Pound, the latest PMI readings indicate that UK's recovery from last year's recession is gathering pace. Meanwhile, rising cost pressures, particularly in the services sector, are...
Australian Dollar trades broadly higher today, lifted partly by resurgence in risk sentiment, as well as robust PMI data reflecting the cyclical recovery in Australian economy. Improvement in the economic outlook reduces the immediate need of a rate cut by RBA. Judo Bank, who complied the PMI data, warned...
British Pound faced broad selloff today, continuing its decline in response to comments made last Friday by BoE Deputy Governor Dave Ramsden. Ramsden expressed he is now much less worried about inflation, and expects upcoming data to show significant slowdown in April. More importantly, he emphasized that UK inflation...
Commodity currencies rises broadly in Asian session today, buoyed by slight improvement in risk sentiment after a relatively quiet weekend in the Middle East. This contrasted with the performance of typically safe-haven assets such as Swiss Franc, Japanese Yen, and Dollar, all of which traded mildly lower. Gold also...
It was a dramatic week in the global financial markets with rapid shifts in investor sentiment triggered by heightened geopolitical tensions in the Middle East. While calm was eventually restored somewhat, the volatility served as a clear indicator of the underlying vulnerability in investor confidence.
Amidst this geopolitical backdrop, the...
Financial markets have steadied following a brief period of heightened volatility triggered by fears of escalating conflict in the Middle East. Initial concerns about a full-scale confrontation were alleviated. Both Israel and Iran played down the significance of recent explosions near an Iranian military base, suggesting a broader conflict...
Significant volatility was seen in Asian session, following the news of Israel's missile strike in retaliation against Iran. This geopolitical development initially led to steep decline in Asian stocks and concurrent surge in oil prices and safe-haven assets like Swiss Franc, Yen, and Dollar. Nevertheless, fund flows started to...
The forex markets are still generally staying in consolidative mode today, showing minimal reaction to the latest economic data and comments from central bank officials. Commodity currencies, along with Swiss Franc, are displaying relative strength. Meanwhile, Euro, Dollar, and Yen are on the weaker side.
In the broader financial markets,...
The forex markets are rather subdued in today's Asian session, with major currency pairs and crosses largely trading within yesterday's ranges. Australian Dollar strengthened slightly, ignoring significantly weaker-than-anticipated job data. Instead, it's lifted by rebound in Asian stock markets and stabilizing risk sentiment. However, the momentum behind Aussie's rebound...
Sterling is having a volatile trading day, initially gaining ground after UK CPI data which indicated slower pace of disinflation than anticipated. Despite this, the currency struggled to maintain its momentum as the data did not substantially alter the broader expectation that BoE) will delay interest rate cuts until...
Dollar's rally appeared to be slowing a little despite extended rally in benchmark treasury yields, the selloff in US stocks could be stabilizing too. Fed Chair Jerome Powell's comment that interest rate could stay at current level for longer if inflation persist triggered little reactions in the market. This...
Euro rises broadly today, lifted by significant improvement in economic sentiment indicators from Germany and the broader Eurozone. Despite these positive signals, current situation assessment remains subdued. While the worst may be over for Germany's economy, in particular the manufacturing sector, recovery is still in its nascent stages and...
Dollar is capitalizing on its strong position and extends its rally om Asian session today, as risk aversion grips global markets. US stocks, which initially showed gains overnight, ultimately closed significantly lower as Treasury yields climbed in response to robust economic data. The sentiment continued in Asia, with major...
Dollar bounces slightly in early US trading following unexpectedly strong retail sales data. However, there is no clear follow through buying in the greenback for now. The only exception is USD/JPY which continues to make new 34-year highs. Against others, Dollar might extend its consolidation phase for a while...