CAD Falls Broadly after GDP, Markets Lag Direction Elsewhere
Canadian Dollar falls broadly after weaker than expected GDP data. Dollar and Swiss Franc are also weak on steady market sentiment. Australia and New Zealand Dollar are currently the strongest ones, followed by Sterling. But all three are just staying in range against the greenback. Euro is also relatively...
Risk Sentiment Improved Despite China Let-Down, No Decisive Market Actions Yet
Risk sentiment improved slightly earlier in Asian session on rumors that China is going to exit its zero-Covid policy earlier. Yet the announcement of the National Health Commission on speeding up vaccination for the elderly was a big let-down. After all, Dollar, and Swiss Franc are on the softer...
Risk Aversion Continues on China, Euro Support by Yields
Risk aversion is the theme of the day as protests in China spread to multiple cities. There might be talks that pressure is mounting on the government to exit zero-Covid policy early. Investors are clearly more pessimistic on guard of escalations, which could further disrupt the economy. Australian Dollar...
Aussie Down as China Unrest Triggers Risk Aversion
Yen and Dollar rise broadly in Asian session today while Australian Dollar leads commodity currencies lower. Markets are trading with risk-off sentiment, with deeper selloff in China and Hong Kong markets. Large scale protests were carried out in multiple cities in China over the weekend, and the theme has...
Dollar Down as Smaller Fed Hike Affirmed, But Downside Potential Limited
The expectations of a smaller Fed hike in December was affirmed by FOMC minutes last week. Dollar ended as the worst performer, following mild risk-on sentiment. Canadian Dollar was the second worst as dragged down by falling oil prices. Meanwhile, Euro was the third weakest suffering some selloff against...
Euro Ignores Improvement in German Consumer Sentiment, Kiwi Firm after Retail Sales
Overall, the markets are quiet in holiday mood today. Dollar remains the worst performer for the week, followed by Canadian. Next is Euro, which is receiving no support from the slight improvement in Germany consumer sentiment. Sterling is currently the strongest one for the week. New Zealand Dollar follows...
Yen Soars With Falling Yields, Sterling Resilient
Yen rises broadly in quiet trading today, with help from falling US and European benchmark yields. Sterling is following as next strongest, and then Kiwi. On the other hand, Swiss Franc is the worst performer, followed by Dollar, Canadian. Euro and Aussie are mixed for the moment. As the...
Dollar Down as Substantial Majority of Fed Members Judged Slowing Hike Soon Appropriate
Dollar is sold off broadly after FOMC minutes indicated that a "substantial majority" of policymakers judged that slowing rate hike would "soon be appropriate". For now, New Zealand Dollar is the strongest for the week, supported by RBNZ's big rate hike. It's followed by Sterling, and then Swiss Franc....
Sterling Rises Broadly, Shrugging Weak PMI Data
Sterling surges broadly today, shrugging off PMI data which indicates extended weakness in the economy. It's even over-powering New Zealand Dollar, which was lifted by RBNZ's jumbo rate hike. On the other hand, selling is focusing on Dollar, Canadian and Australia, while Yen is also on the weak side....
NZD Rises after RBNZ Jumbo Rate Hike, Pressure Back on Dollar
New Zealand Dollar rises broadly after RBNZ delivered the historical 75bps rate hike as widely expected. Yet, it's staying in near term range against the greenback. For now, Euro is following Kiwi as second strongest for the day, then Swiss Fran and Sterling. Canadian Dollar is the weakest, followed...
NZD Recovers ahead of RBNZ Hike, Dollar and Euro Dip
Dollar and Euro are so far the worst performer in quiet trading today. The greenback is clearly weighed down again by stocks' rise and yield's decline. There are news that China's Shanghai is back in tougher restrictions, but investors are not too bothered. Canadian Dollar is also soft after...
Dollar Rally Stalled Once Again, CAD Looks into Retail Sales
Dollar's rebound stalled once again quickly, as risk markets appear to have stabilized. Overall, Swiss Franc is following the greenback as the second strongest for the week so far, then Canadian. Yen is the worst performer, followed by Aussie and Kiwi. Euro and Sterling are mixed with Sterling having...
Dollar Rebounds Further, But Vulnerable if Risk-on Sentiment Returns
Dollar's broad based rebound continues into early US session, as support by recovery in yields. While overall markets are trading in mild risk-off mode, there isn't much follow through selling in European stocks and US futures. The greenback's rally could be killed off quickly if risk sentiment turns. But...
Dollar Extending Recovery, Euro and Sterling Soften
Dollar opened the week broadly higher, following last week's late recovery. Swiss Franc also picks up some buying, especially against Euro and Sterling. Commodity currencies are mixed for now, with Canadian Dollar having an upper hand. Yen is also mixed as corrective trading continues. The week is relatively light...
Dollar Ready for a Rebound as Risk Rally Loses Momentum
The post-CPI selloff in Dollar and rally in US stocks faded last week, after Fed officials talked down the significance of just one data point. While the greenback still lacked momentum for sustainable recovery, selloff has at least slowed. The greenback ended the week mixed together with Euro.
On the...
Positive Sentiment Boosts NZD, USD Still Bounded in Consolidations
Positive market sentiment boosts Kiwi, Aussie higher but Canadian is lagging far behind as dragged down by falling oil prices. Sterling is also firm after mixed retail sales data. On the other hand, Swiss Franc and Dollar are following Loonie as the next worst performer for the data. But...
Dollar Softens after Short-Lived Recovery, Consolidations Continue
The forex markets continue to stay in consolidative mode in Asian session. Dollar's recovery attempt overnight was rather short-lived. Sterling also regains some ground after initial reaction to the UK government's new budget. Yen is also soft despite strong CPI data from Japan. Overall, New Zealand Dollar is the...
Dollar Recovery Picks Up Momentum, Sterling Lower after Budget
Dollar's recovery is starting pick up momentum in early US session, as risk off sentiment deepens. The development is reflected in broad based selloff in Australian and New Zealand Dollar. Sterling is also weak as mild reaction to UK's new budget statement. Canadian Dollar and Euro are the firmer...
Aussie Dips Despite Solid Job Data, Markets in Consolidations
The forex markets are still engaging in corrective trading in Asian session today. Despite stronger than expected job data, Aussie trades lower following mild risk-off sentiment. Kiwi, Loonie and Sterling are are softer. On the other hand, Dollar, Yen and Swiss Franc are the firmer ones, while Euro is...
Sterling and Loonie Shrug Inflation Data, Markets Tread Water
The financial markets are generally quiet today, with European indexes and US futures trading slightly lower into US session. In the currency markets, most major pairs and crosses are stuck inside yesterday's range, with Yen and Dollar on the softer side, Euro and Swiss Franc on the firmer side....