Euro Rises Against Yen and Commodity Currencies
Euro is trading as the strongest one today so far, followed by Sterling, Swiss Franc and Dollar. All four currencies are going to have respective central bank meetings this week, and all are expected to hike by 50bps. Australian Dollar is leading commodity currencies and Yen lower. News flow...
Dollar Rises Slightly as Markets Turn Cautious; Fed, ECB, BoE and SNB to Hike
Dollar rises mildly in Asian session as investors turned cautious. Euro is also firmer but Sterling is on the softer side together with Aussie and Kiwi. Market focus are on the four central bank meetings this week, and lots of important indicators. Among them, Fed's new economic projections and...
CAD Down, AUD Resilient, USD Lackluster
Trading in the markets was rather subdued last week. Canadian Dollar was an exception, as it was pressured by falling oil price and a dovish BoC hike. The Loonie just closed marginally higher against Yen, which was also soft. On the other hand, Swiss Franc was the best performer,...
Dollar Holding On in Subdued Trading
Dollar is trying to recover in early US session, with help from 10-year yield which reclaims 3.5% handle. Yet again there is now clear follow through buying. News flow is slow today, without much surprise from US PPI data. As Fed is already in a blackout period, there is...
Dollar Extending Decline, Ready for Downside Breakout?
Dollar is again under some selling pressure in Asian session and looks set to resume recent decline against European majors. Yet, with trading subdued, it's doubtful whether selloff in the greenback would sustain. Traders would more likely hold off large bets until next week's FOMC rate decision and economic...
Aussie Rebounds With Rally in Copper, Dollar Turns South
Australia Dollar leads commodity currencies higher, in otherwise still very quiet markets today. Prospect of further easing of restrictions is probably giving some industrial metals and oil prices a lift. But the positive sentiment is not much reflected in the global stock markets. Dollar is back under selling pressure,...
Dollar Trading Sideway in Dull Markets
Trading in the currency markets continues to be rather subdued. Canadian Dollar remains the weakest together Yen. The dovish rate hike by BoC overnight didn't trigger more selloff, though. Yen is having little reaction to falling US and European benchmark yields. Dollar and Euro are the firmer ones but...
Euro Rises But Capped in Range Against Dollar
Euro and, to a lesser extent, Sterling, are picking up some buying today but both are stuck in range against the greenback. There is no clear unified theme in the markets. Canadian and Australian Dollar are weak, but New Zealand Dollar is strong. Swiss Franc is trailing other Europeans...
Markets Directionless, CAD Awaits BoC
Overall, the markets continue to trade in a mixed manner. US stocks declined for a second day overnight, but the selloff didn't continue in Asia. Sentiment is somewhat supported by optimism of easing restrictions in China. In the currency markets, Yen is currently the worst performer for the week,...
Canadian Dollar Weakens in Otherwise Indecisive Markets
Canadian Dollar is currently the weakest one in otherwise sluggish markets. Falling oil price is a factor dragging down the Loonie, and traders are also cautious on a dovish rate hike by BoC tomorrow. There is still no clear follow through buying in Dollar against others. Aussie is steady...
Aussie Steady after RBA Hike, Dollar Sluggish
Dollar tried to rebound overnight, as risk-on sentiment receded after solid services data. But there is no follow through buying in Asian session with generally mixed mood. Aussie is under mild selling pressure and there is no support from RBA's expected 25bps rate hike. For now, Dollar and Euro...
Euro Rises as Investor Sentiment Improves, Dollar and Yen Down
Euro rises broadly today as supported by improvement in investor sentiment, but Sterling and Swiss Franc are lagging behind. Canadian Dollar also follows oil price high, as China appears to be moving further towards reopening. Australian Dollar is also firm. But Yen and Dollar are on the weaker side...
Dollar Selloff Continues as China Eases Restrictions, RBA and BoC To Hike This Week
Dollar's selloff continues in Asian session today as overall market sentiment is supported by further restriction easing in China. The improvement in sentiment is also reflected in some weakness in Yen and Swiss Franc. Australian Dollar and Canadian Dollar are trading generally higher, awaiting rate hike by RBA and...
Yen Jumped as Fed Powell Knocked Down Dollar and Yields
The tone of the markets was well set by Fed Chair Jerome Powell's indication of smaller rate hike in the upcoming FOMC meeting. The biggest reactions were found in treasury yields, which decline was surprisingly steep. US stocks ended higher but upside momentum appeared to be diminishing.
Dollar was sold...
Dollar Strikes Back on Solid Job Data, With Strong Wage Growth
Dollar rebounds notably after a set of solid non-farm payroll data, with strong wage growth. US stock futures take a dive in response to the news, while treasury yields recover. Australian Dollar appears to be responding most negatively for now, as pressured by risk-off sentiment too. But Euro and...
Yen Outperforms on Falling US Yields, Focus Turns to NFP
Yen is apparently the biggest winner against the broadly pressured Dollar. Steep declines in US and European benchmark yield gave the Japanese currency much support. Euro is currently the better performer among European majors. Canadian Dollar clearly lags behind other commodity currencies. The greenback will now look into this...
Dollar Selloff Extends after PCE Inflation, Breaking to the Downside
Dollar's selloff picks up momentum in early US session after PCE inflation slowed more than expected in October, while core PCE also declined. The data give a nod to Fed Chair Jerome Powell's comment that smaller rate hikes could start in December. Yen is the better performer as supported...
Sentiment Lifted by Fed Powell, Dollar Down While Stocks Up
Market are back in full risk-on mode after Fed Chair Jerome Powell affirmed that smaller rate hike would be delivered in December. Positive sentiment continued in Asia with China softening some of its pandemic restrictions. Dollar is in broad based selloff, followed by Canadian Dollar and Swiss Franc. Yen...
Little Reaction to US ADP and Eurozone CPI Miss, Consolidations Continue
Overall markets remain steady in consolidative trading today. There is little reaction to lower than expected Eurozone CPI and US ADP job data. Fed Chair Jerome Powell's speech might trigger some volatility, or traders will have to wait for non-farm payrolls on Friday. For now, Dollar is the strongest...
Markets Cautious, Awaiting Eurozone CPI and Development in China
Overall, the forex markets are very cautious for now, awaiting the key events of the week, including Eurozone CPI flash today and US non-farm payrolls on Friday. There is no breakthrough in the unrest in China, with reports of escalation in protests in manufacturing center of Guangzhou. Yen and...