Swiss Franc Rises as Risk-On Sentiment Fades, Dollar Recovering
Swiss Franc rises broadly today as yesterday's risk-on sentiment quickly faded. Dollar is also recovering together with Canadian while Yen is also slightly higher. On the other hand, Sterling is under some pressure, in particular against European majors. Australian and New Zealand Dollar are not far behind. In other...
Dollar Down on Risk-On Sentiment, But Selling Not Too Committed Yet
Dollar was sold off broadly overnight, following risk-on sentiments. Investors appeared to welcome the results of US mid-term election so far. But the decline in the greenback is not too committed so far. Dollar is still holding on to near term support levels against European majors, and even Aussie....
Forex Markets Tread Water, Bitcoin Tumbles
Markets continue to tread water today, having basically no reaction to economic data and comments from central bankers. For now, European majors are the slightly stronger ones, as led by Sterling. Commodity currencies are the weaker ones, with the Loonie being the softest. Dollar and Yen are mixed for...
Dollar Recovering Slightly in Consolidative Markets, Breakout Awaited
The currency markets are generally quiet, without committed directions. Dollar is recovering broadly, ahead of near term support against European majors. Commodity currencies are softening while Yen is mixed. Some focuses be on US mid-term elections, as well as a Bundesbank symposium. But overall trading activities might remain subdued...
Sterling Leads Europeans Higher in Quiet Trading
European majors are the stronger ones for today, with help from better than expected investor confidence data. Sterling is leading the way, followed by Swiss Franc and Euro. While risk sentiment appears to be mildly positive, there is no clear buying in commodity currencies. Instead, they are the softer...
Asia Extends Rebound, But Aussie Not Following… Yet
The forex markets are rather steady in Asia today. While stocks in China and Hong Kong extending last week's strong rebound, Aussie and Kiwi are not following for now. Some traders are on guard to rumors of reopening in China, in particular with a district in Guangzhou still extending...
Rumor of China Reopening Overwhelmed Other Heavy Weight Events
The rumor of earlier reopening in China seemed to have overwhelmed other heavy weight events in the markets last week, including Fed's hawkish rate hike and non-farm payroll report. Late rally in stock markets helped commodity currencies secured the winning places, with New Zealand Dollar having an edge over...
Canadian Dollar Skyrockets after Stellar Job Data, Dollar Gets No Support From Solid NFP
Canadian Dollar surges broadly after employment blows past expectations. While US non-farm payroll growth was solid, Dollar reacted more to improving risk sentiment and fall sharply. Yen is the second weakest for the day following the greenback. European majors are gaining against the greenback but are all under heavy...
Dollar Pares Gain ahead of NFP, Canadian Employment also Featured
Asian markets are very mixed today, with Nikkei trading lower, following US stocks overnight. But strong rebound is seen in Hong Kong and China. As a result, Dollar is paring some of the post-FOMC gains while commodity currencies recover. It's also possible that traders are lighting up their positions...
Sterling Dives after Dovish BoE Hike, Dollar Accelerates up
Sterling dives sharply after dovish BoE rate hike, which saw two doves dissented. Aussie and Kiwi are following as next weakest as risk-off sentiment persists. Dollar's post-FOMC rally is accelerating, partly supported by expectation of a higher terminal rate for Fed, and partly by risk aversion. Yen is following...
Dollar Surged as Fed Powell Indicated Higher Terminal Rate, BoE Next
After initial jitters, Dollar rose broadly overnight as Fed Chair Jerome Powell indicated the possibility of higher terminal rate in the current tightening cycle. US stocks ended notably lower and risk-off sentiment carried on in Asian session. Yen is also rising on risk aversion. Nevertheless, markets are taking a...
Markets Tread Water ahead of Fed Hike and Guidance
The financial markets are all very steady today, awaiting FOMC rate decision. A 75bps hike a done deal, and the key is whether Fed Chair Jerome Powell would signal slower tightening pace ahead. For now, Dollar is the weaker one for today, followed by Euro and Sterling. On the...
Dollar Softens as FOMC Awaited, Yen Firms Up
Dollar is trading mildly lower in Asian session today, but manages to maintain most of this week's gain so far. The greenback will look into today's FOMC rate decision, where a 75bps hike is well priced in. Today's Fed meeting is not about today, but how Chair Jerome Powell...
Dollar Dragged Down by Falling Yields, Kiwi Extends Rally
Dollar is back under some selling pressure today as 10-year yield dips back below 4% handle. Broad risk sentiment is also mildly positive. European majors are generally weaker too, together with Canadian. Yen rebounds on falling yields, but it's outshone by New Zealand Dollar. Kiwi is supported additionally by...
Aussie Higher after RBA Hike, Except Versus Kiwi
Australian Dollar trades higher today, following recovery in Asian stock markets. RBA hikes by 25 bps as widely expected and indicates more tightening to come ahead. There is little reaction as the message is well digested by the markets already. Nevertheless, Aussie is slightly outperformed by New Zealand Dollar...
Dollar Rebounds, Aussie Weakens ahead of RBA
Dollar rebounds broadly today as US futures turn south, pointing to a lower open. Yen is back under some selling pressure. But Euro is also weak despite stronger than expected consumer inflation data, while Sterling and Swiss Franc are also soft. Commodity currencies are mixed with Canadian Dollar on...
Yen Mildly Lower in Quiet Trading; RBA, Fed and BoE to Hike This Week
Yen trades generally lower in quite Asian session today, but markets are relatively steady elsewhere. Stock markets are mixed with Nikkei closing higher, following the rebound in the US last Friday. But China is weighed down by poor PMI data. Generally speaking, traders are cautious ahead of many key...
Sterling Jumped on Political Stabilization, Dollar Lost Ground ahead of Fed
Dollar ended as the worst performer, followed by Yen and Swiss Franc. The US stock markets traded with risk-on sentiment, on talks that Fed would start slowing down tightening pace after one more 75bps hike. But it should be noted that such sentiment was not seen everywhere in the...
Dollar Recovers after Inflation Data, Yen Turns Weak
Dollar rises broadly in early US session. Stubbornly high inflation reading might be a factor. But the recovery could also be due to traders paring their positions ahead of the weekend, and next week's FOMC. Yen is back under some broad based pressure but stays in familiar range. European...
Yen Steady after BoJ, Treasury Yields Extending Correction
The markets are relatively quiet in Asia today. Yen is steady after BoJ stands pat as widely expected. Yet, there is some upside prospect for Yen if global benchmark yields continue to correct lower. Dollar remains the worst performer and today's PCE inflation data is unlikely to save it....