Some volatility is finally see in early US session even though there is still a lack of follow through momentum. US equities open lower with DOW losing over 150 pts, back below 24000 handle at the time of writing. Dollar accompanies the fall in DOW with a rally attempt....
CFTC Commitments of Traders
With the exception of natural gas, speculators were bullish over the energy complex in the week ended March 27. Net LENGTH for crude oil futures jumped +12 062 contracts from a week ago to 715 7708. NET LENGTH of heating oil gained +1 948 contracts to...
USDHKD has continued flirting slightly below 7.85, the weak end of its trading band. Since late-February, the market has been speculating about what and when the Hong Kong Monetary authority HKMA, the de facto central bank of Hong Kong, would do to maintain the peg. We judge that the...
The forex markets are rather quiet today as most countries are still on holiday. Yen is trading generally lower but loss is limited so far. Japan Tankan survey posted some disappointing data but was shrugged off. Australian Dollar is also a touch weaker. Mixed data from China and the...
The forex market are starting to ignore economic data release today and tread water, just ahead of long weekend. Dollar is trading in black across the board for the week. But better than expectation job data doesn't the greenback a boost to extend its rally. Canadian Dollar also shrugs...
Dollar jumps broadly overnight but it's rally is starting to lose steam again in Asian session. Instead, while Yen remains the weakest one for the week, it's starting to regain some strength. So far, the Japanese is not benefiting from risk aversion this week. Even though stocks attempted to...
The pattern of risk on/risk off continues today. After opening lower, European indices pare back much losses with FTSE now back in black at the time of writing. US futures also point to slightly higher open. Tech stocks, who were the main reason of yesterday's selloff, recover mildly. Facebook's...
Over the past months, US trade policy has been a major cause of the wax and wane of the financial markets. The White House has triggered a number of investigations under the rarely used 1972 US trade law since Trump took office. All investigations have resulted in tariff imposition,...
There was some volatility seen yesterday in the forex markets. But as dusts settled, Euro is staying as the strongest one for the week, followed by New Zealand Dollar and Sterling. On the other hand, Yen and Dollar are trading as the weakest one, followed not too far away...
After being pressured initially, Dollar staged a strong come back European session. The greenback is now trading as the strongest one for day, followed by Canadian Dollar and then Yen. On the other hand, Sterling and Euro are suffering broad based selling together with Aussie. There is no apparent...
The financial markets responded positively to news that US and China are back on the table for trade negotiation. At least for now, the fear of further escalation in tension is eased. DOW ended yesterday up 669.40 pts or 2.84% at 2420.60. S&P 500 gained 70.29 pts or 2.72%...
Risk sentiments stabilized as markets reacted positively to the possibility of a trade deal between US and China. Major European indices are trading higher even though gains are only at 0.35-0.55% in FTSE, CAC and DAX only, at the time of writing. US futures also point to triple digit...
The financial markets opened the week rather quietly. Nikkei and KOSPI opened lower and turned black as the session went on. But other major Asian indices stayed slightly in red. US is apparent in talk with China on trade agreement. But no one in the markets is cheering for...
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...
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...
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...
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...
BOE voted 7-2 to leave the Bank rate at 0.50%. The members voted unanimously to leave to asset purchase program unchanged at 435B pound. The members were generally positive over the economic outlook, noting that "recent data releases are broadly consistent with the MPC's view of the medium-term outlook...
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...
FOMC's rate hike of +25 bps is not news. What caught market attention the most was the median dot plot (which continued to project 3 rate hikes in 2018) and the upgrades in the economic projections. US dollar plunged from almost a three-week highe after the announcement. The message...