Dollar Under Renewed Pressure Amid Signs of Cooling Job Market and Easing Price Pressures
Dollar is facing renewed selling pressure in the early US session, as fresh economic data points to a further cooling in the job market. A significant uptick in continuing jobless claims, reaching their highest level in nearly two years, suggests a softening labor environment.
Adding to this, deeper-than-expected decline in...
Aussie Dips Amid Mixed Employment Data and Global Market Cautiousness
Australian Dollar weakens broadly in Asian session, as Australian employment data and shifting global risk sentiment take center stage. The mixed nature of the latest Australian jobs report is causing a rethink among investors regarding RBA's next steps. Despite robust increase in overall employment numbers, a nuanced look reveals...
Sterling Falters Post-UK Inflation Report, Dollar Sees Momentary Respite
Sterling emerged as the standout underperformer today, reacting notably to the latest CPI data from the UK. This data indicated a more rapid deceleration in both headline and core inflation rates than many had predicted. Such a shift in inflation dynamics is feeding into growing belief among market participants...
Dollar Weakness Prevails as Market Bets on Fed Rate Pivot, H1 Cut Expectations Surge
Dollar remains subdued in the aftermath of its significant selloff triggered by CPI release overnight. Market sentiment has swiftly shifted, with the majority now almost ruling out the possibility of further rate hikes by Fed. This shift indicates a growing consensus that current federal funds rate of 5.25-5.50% marks...
Market Jubilation as US CPI Signals Continuing Disinflation, Dollar Plunges
Investor sentiment is riding high in the wake of the latest US CPI report, with a notable surge in the DOW futures, climbing over 300 points, and a marked drop in 10-year yield, plunging from above 4.6% to below 4.5%. The report presented a picture of easing inflation, with...
US CPI to Dictate Dollar’s Path, GBP/JPY Poised Ahead of UK Employment Figure
The financial markets are intently focused on the upcoming US CPI report, a key indicator that could influence Fed's next steps. Expectations are leaning towards further slowdown in headline inflation to 3.3%, while core inflation rate is projected to remain steady at 4.1%. However, there's a growing consensus among...
Sterling and Aussie Bounce Back from Recent Lows, Euro Sees Downside Risk
There's a noticeable lack of a unifying theme in the forex markets today, largely attributed to an empty economic calendar across European and North American regions. Both Australian Dollar and British Pound are seeing a rebound from their recent downturns, particularly noticeable in currency crosses. However, the continuation of...
Yen Nears Multi-Decade Low Against Dollar, Eyes on Japan’s Response
Japanese Yen continues to weaken, accelerating its decline in today's Asian session and edging closer to a multi-decade low against Dollar. The market appears to be gaining confidence that Japan will not intervene at this stage, despite the steep and extended depreciation. But the country's approach to currency intervention...
Dollar Tops Weekly Performance But Next Move Uncertain, Aussie Suffers
Dollar emerged as the best performer last week, fueled by hawkish remarks from Fed Chair Jerome Powell. The greenback's surge raises questions: is this merely a recovery from recent losses, or the beginning of a new uptrend? While Dollar gains support, rising risk-on sentiment in the markets seems to...
Euro Gains Ground as Dollar Hesitates, Cryptos Surge
Today's currency market sees Euro gaining some traction, especially against Japanese Yen, which is underperforming alongside Australian Dollar. Despite RBA's hinting at a potential rate hike, Aussie is struggling, not only against major currencies but also against its commodity-linked counterparts. British Pound, too, is lagging behind despite UK reporting...
Aussie’s Decline Overshadows Hawkish RBA Signal; Sterling Waits for UK GDP Amid Dollar Strength
In today's currency markets, Australian Dollar is notably weaker across the board, a development that comes as a surprise considering the hawkish tone of the latest RBA Statement on Monetary Policy. The statement, which leaned towards the possibility of another rate hike, seemed insufficient to bolster the Aussie. Factors...
Dollar’s Recovery Meets Quiet Markets, GBP/AUD in Focus
As US session unfolds, the Dollar is showing signs of rally, buoyed by recovery in benchmark treasury yield. This modest uplift comes despite a general lack of direction owing to a sluggish risk sentiment across markets. Euro is losing momentum as its earlier recovery falters, whereas other European majors...
Euro Strengthens Amid Market Quietude, Bitcoin’s Rally Poses Tailwind for Tech
Euro is showing signs of fortitude in relatively subdued market conditions today. The overnight rebounds in EUR/USD and EUR/CHF indicate that bearish traders are hesitating to drive the market, while EUR/JPY continues its upward stride. On the other hand, Dollar is engaged in a tight contest with Euro, mostly...
Dollar Facing Headwinds, Swiss Franc Rebounding
Dollar making efforts to continue this week's rebound, but momentum appears to be lacking, except against Yen. Additionally, its ascent is being challenged by Swiss Franc, which currently stands as the day's strongest performer, propelled by substantial buying against Euro and Sterling. Commodity currencies are capitalizing on the stabilizing...
Dollar Pauses Rebound, Await More Clues from Fed Officials
Dollar found itself hovering within a narrow range during Asian session, as market participants paused to reflect on recent comments from hawkish Fed members hinting at more tightening. Despite these hawkish tones, the overall risk mood found its footing after the US markets displayed resilience, with only a slight...
Dollar Gains as Risk Aversion Spreads, Market Seeks Clarity Amid Global Economic Concerns
As markets across the globe confront a wave of cautious sentiment, Dollar finds itself in a position of strength, capitalizing on a shift in investor mood. European trading sessions have mirrored the apprehensive tone set by Asian markets, although early signs from US pre-markets suggest that the intense selling...
Aussie Dips Post-RBA Hike Amid Softened Hawkish Stance and Weak Risk Appetite
Australian Dollar is taking a surprising dip today despite RBA's anticipated decision to raise the cash rate target by 25bps. Investors have taken this opportunity to lock in profits, influenced by the central bank's softened rhetoric on the immediate need for further rate hikes. It appears RBA is likely...
European Majors Show Strength after Sentix Data, Aussie Consolidates
European majors are maintaining their upward momentum against the Dollar, leveraging last week's rally and finding additional support in the unexpectedly positive Eurozone investor confidence data. Yet, while the data provided a glimmer of positivity, the market remains guarded, unwilling to fully commit to the narrative of an economic...
Forex Markets Hold Steady; Anticipation Builds for RBA Hike on Tuesday
As the new trading week opens, the forex markets present a scene of relative tranquility during the Asian session. Dollar is attempting a modest recovery from last week's downturn, yet the impetus for a decisive rally seems absent. In contrast to the upbeat sentiment in Asian equity markets, spurred...
Dollar Dives on Risk Appetite Revival and Sliding Yields
In a week marked by a significant shift in investor sentiment, Dollar found itself at the bottom of the currency heap. A rapid shift to a risk-on attitude was catalyzed by sharp decline in benchmark Treasury yields, fueling an aggressive uptick in stock prices. The surge in equity investments...