Dollar Finds Its Footing, Euro Faces Headwinds, Aussie at a Critical Point
Dollar is stabilizing after earlier selloff but remains the weakest performer for the week. Its modest recovery can be partly attributed to a bounce back against Euro, which is currently under pressure due to Germany's lower-than-expected CPI readings. Meanwhile, Australian Dollar is experiencing a delayed reaction to Australia's lower-than-expected...
Fed’s Dovish Tone Pressures Dollar and Yields, RBNZ’s Hawkishness Lifts Kiwi
Dollar's decline finally takes off again overnight, following dovish comments from some Fed officials. In particular, Fed Governor Christopher Waller, typically known for his hawkish views, softened his stance and expressed a level of satisfaction with the current interest rate policy. Chicago Fed President Austan Goolsbee's even raised concerns...
Hesitant Dollar Sellers In Search of Clear Signals for Further Action
The forex markets today are characterized by a lack of decisive direction. Dollar remains generally weak, yet there seems to be a reluctance among sellers to push it further down. Market focus is now shifting to comments from several Fed officials scheduled for today and the rest of the...
Yen Strengthens Amid Speculation of BoJ Policy Shift and Business Sector’s Currency Concerns
Yen has a notable bounce in Asian session today, fueled by a Nikkei report suggesting that BoJ is finally near to the end its negative interest rate policy. This policy shift, which could see interest rates rise as early as the first half of next year, hinges on the...
Dollar Dips, Euro Struggles in Lackluster Market
As US session commences, Dollar is showing a more notable downturn following a rather uneventful day. In the background risk sentiment is steady, with investors and traders largely holding their positions in anticipation of key economic data releases. The upcoming PCE inflation data on Thursday and ISM manufacturing data...
Yen Cautious Rebounds While Gold Rallies Above 2k
Yen is having a moderate rebound today, spurred by slightly stronger-than-expected corporate services price inflation data. However, this uptick in is showing only restrained momentum, especially noticeable even against a weaker Dollar. The limited rise can be attributed to low market activity, as there are no significant events scheduled...
Dollar’s Weak Streak Continues, Sterling and Antipodean Currencies Shine
Dollar ended as the weakest performer last week, with it poor performance aligning with broader rally in both stock and commodity markets, underpinned by growing investor sentiment favoring US economic soft-landing. Furthermore, minutes from FOMC meeting suggested a potential softening of Fed's hawkish stance. As risk-on sentiment seems poised...
Canadian Dollar Rallies on Retail Sales Surprise, Kiwi and Sterling Firm
Canadian Dollar is having a notable rebound in early US session, fueled by unexpectedly robust Canadian retail sales data. This data indicated a surprising resurgence in consumer spending, defying the constraints of high interest rates and ongoing inflation.
Despite this uplift, Loonie was overshadowed by New Zealand Dollar, which also...
Yen Sees Mild Uptick Following Mixed CPI and PMIs, A Signal for Buyers’ Return?
Trading activity is rather subdued in Asian session today, with most major currency pairs and crosses hovering within yesterday's range.
Yen is showing a slight recovery, albeit in the context of mixed inflation and PMI data. While Japan's core CPI remains persistently above BoJ's target, the latest figures haven't provided...
Sterling and Euro Rise on PMI Data in Consolidating Markets
PMI data are the main drivers in the forex markets today, particularly lifting Sterling and, to some degree, Euro to higher positions. The bounce in Sterling is chiefly attributed to UK services sector bouncing back into expansion territory, a sign of economic resilience. Additionally, the severity of manufacturing recession...
Eurozone and UK PMIs Grab the Limelight in Thanksgiving Quietude
Global financial markets are experiencing subdued activity in Asian session today, with market participants scaling back their activity in light of Thanksgiving holiday. Major US stock indexes managed to close higher overnight, yet there's a palpable reluctance among investors to propel these indexes to new highs for the year....
Dollar Extending Recovery as Consolidation Starts, Risks Still Tilted to the Downside
Dollar is extending its near term recovery in the early US session. The latest jobless claims data came in better than expected, offering some support to the greenback. However, this was somewhat offset by weaker-than-anticipated durable goods orders. Overall, the current upswing in may not be entirely rooted in...
Dollar Stabilizes, Yen Retreats, Euro Loses Momentum
As Thanksgiving long weekend approaches, a noticeable tranquility has enveloped the financial markets. The aftermath of FOMC minutes, which revealed a slightly toned-down hawkish stance, has resulted in rather subdued market reactions. Major stock indices have slightly retreated from their recent advances, reflecting a cautious sentiment among investors. Correspondingly,...
Canadian Dollar Remains Weak Post-CPI, as Gold Breaches 2000 Barrier
Canadian Dollar exhibited softness in early US session, a reaction to lower-than-expected consumer inflation readings. This development, indicative of ongoing disinflation, could bolster BoC's confidence to maintain its current policy stance in the upcoming December meeting. Notably, Canadian Dollar has been unique among major currencies in its inability to...
Surging Yen and Yuan in Spotlight ahead of FOMC Minutes and Canada’s CPI
Japanese Yen's rally continued in today's Asian session, breaking through 148 mark against Dollar. This rise raises questions about the reaction of Japanese Finance Minister Shunichi Suzuki, particularly in light of his previous comments during Yen's decline this year. Suzuki had described the decline as "one-sided" and driven by...
Yen’s Strong Rally Reflects Broader Shifts in Global Monetary Policy Expectations
Japanese Yen's remarkable rally has become a focal point in the currency markets today. It's strength is extending into US session. This surge is not an isolated event but a reflection of broader shifts in global monetary policy expectations. A crucial factor propelling Yen upwards is the increasing speculation...
Dollar Weakens, Yen Strengthens, and Nikkei’s New Highs
Dollar's selloff intensified in today's Asian session, underpinned by strong risk-on sentiment prevalent in the market. This move was particularly evident in USD/JPY, which saw broke through an important near-term support level around the 149 mark, signaling the prospect for further decline. Yen's strength was mirrored by Chinese Yuan,...
Dollar’s Descent to Intensify Amid Sustained Global Risk Appetite, Yen Reversal to Exacerbate Pressure
Dollar notably emerged as the weakest performer among global currencies last week. This decline was primarily driven by robust risk-on sentiment pervading global markets and noticeable dip in treasury yields, not just in the US but globally. A key factor influencing this trend is the growing belief among investors...
Yen’s Sharp Rebound Amid Global Yield Dip: Central Bank Rate Cut Bets in Focus
Japanese Yen surged sharply in European session, bolstered by significant dips in Germany's 10-year government bond yield, which reached its lowest level since early September. Concurrently, US 10-year yield also briefly fell below 4.4% mark.
This movement in the bond markets reflects an aggressive stance by traders betting on rate...
Forex Markets in a Lull, Gold Extending Rally, Oil Tumbles
As the trading week draws to a close, the forex markets are experiencing a period of relative calm in today's Asian session. Key developments include Euro's attempted resurgence against Dollar overnight, which, despite initial signs of a rally, lost its momentum and settled back into familiar range. This pattern...