Sterling Supported by UK Tax Measures Reversal, Yen Weakness Continues
Sterling is trading as the strongest one for today so far, even though there is not clear follow through buying except versus Yen. The Pound is supported by UK Finance Minister Jeremy Hunt's decision that the government will reverse "almost all" the tax measures in the Growth Plan announced...
Dollar Loses Momentum in Quiet Trading, Except Versus Yen
The forex markets are rather steady in quiet Asian session today. Dollar is paring some gains while Euro and Yen are soft too. Sterling is leading the way higher, followed by commodity currencies. But overall, almost all major pairs and crosses are bounded inside Friday's range. The economic calendar...
USD/JPY Closing in 150 as Traders Pricing in Two More 75bps Fed Hike This Year
There were so many important headlines last week. USD/JPY surged to new 32-year high with support from stronger than expected CPI, and as 10-year yield broke 4% handle. Japan maintained their stance that they will act resolutely on market volatility, without actual intervention. DOW staged a historic 1500pts U-turn...
Dollar Makes New 32-yr High Against Yen, Will Japan Intervene?
Dollar regains some growth today, and even rises to new 32-year high against Yen. Momentum is somewhat weak, however, as traders are guarding against intervention by Japan. Meanwhile, markets are mixed elsewhere. Sterling dips after UK Finance Minister Kwasi Kwarteng announced his resignation ahead of Prime Minister Liz Truss's press...
Dollar Fell as Sentiment Reversed, Yen Staying Weakest Despite Unconfirmed Sign of Intervention
Dollar's post-CPI rally faltered quickly, as risk sentiment staged a historic U-turn. For now, Sterling is the strongest one for the week on rumors that UK Prime Minister Liz Truss is going to reverse the mini-budget. New Zealand Dollar is the second strongest, followed by Euro. Yen remains the...
Dollar Soars On Strong CPI Again, But Sterling Overwhelms
Dollar soars broadly in early US session after stronger than expected consumer inflation reading. Futures tumble while 10-year yield is back pressing 4% handle. Nonetheless, the greenback is overwhelmed by Pound on rumors that UK Prime Minister Liz Truss is going to further backtrack on the mini-budget. The eventual...
Dollar Struggling for Momentum, Await CPI for Guidance
The markets are generally steady in Asian session today, as traders await US consumer inflation data. FOMC minutes released overnight basically provided nothing to counter the expectation of a 75bps hike by Fed in November. Today's data might further affirm such expectations. While Dollar is firm, it's struggling to...
USD/JPY Accelerates after BoJ Kuroda Drops No Hint on Intervention
Dollar surges further in early US session against Yen, after BoJ Governor Haruhiko Kuroda dropped no hint on intervention despite today's Yen selloff. Indeed, he noted that Yen depreciation could be could for the economy as a whole, just that speculation driven move is bad. But the greenback is...
Dollar Resuming Rally Against Yen and Sterling
Dollar is trying to extend recent rally again but buying is mostly seen against Yen and Sterling. The Yen finally broke out and fell to new 24-year low against the greenback, and it's on track to take on the level seen back in 1998. Sterling, on the other hand,...
Majority of Dollar Bulls Staying on the Sideline
The majority of Dollar bulls appear to be staying on the sideline today. Despite earlier rally attempt, the greenback starts to pare back some gains into US session. US futures are also trading flat in very tight range. Investors are holding their bet ahead of a wave of speeches...
Dollar Breaking Out Against Commodity Currencies
Dollar extends its near term rally in Asian session, with support from risk-off sentiment, while US 10-year yield is flirting with 4% handle. Yen is also firm, and has the potential to overwhelm the greenback if Japan steps into the markets again. Commodity currencies are the weakest one so...
Aussie Down on Risk Aversion, Poor Service Data
Asian markets trade broadly lower today, extending the risk-selloff late last week. Dollar, Yen and Swiss Franc are trading higher on risk-aversion, as usual. Aussie is currently worst performer, while Kiwi and Sterling are trailing. Euro is mixed for now, but looks vulnerable too.
Technically, one focus is whether EUR/USD...
Rising Oil and Yields, Falling Stocks, Stronger Dollar Ahead
After a brief recovery, risk sentiment turned sour again towards the end of the week. Solid data from the US that solidify expectation for continuous aggressive Fed actions was a factor. Strong rebound in oil price also raised concern of a second wave in inflation. The overall development suggests...
Dollar Jumps as Robust NFP Gives Greenlight to Aggressive Fed
Dollar rises broadly after US published another set of robust non-farm payroll job data. As Fed got a nod from the report for continuing its aggressive tightening, US stock futures are trading knocked down while treasury yields jump. Canadian Dollar is also lifted slightly by solid employment data too....
Consolidative Trading Continues as Dollar Awaits NFP Guidance
The forex markets are still staying in consolidative mode for now, awaiting guidance from US non-farm payrolls. For now, some Fed hawks are rather clear that there's seeing no case for slowing down tightening yet. Fed fund futures are pricing in over 70% chance of another 75bps hike in...
Dollar Mildly Higher in Tight Range, Markets Quiet
The forex markets are very quiet today, with major pairs and crosses stuck inside yesterday's range so far. Dollar is trying to recover but lacks sustained buying. Traders are clearly holding the bets before tomorrow's non-farm payroll report. As for the week, the greenback remains the worst performer, followed...
Dollar Soft With Yen and Franc, Sterling Awaits Next Move
Dollar traded with an undertone in Asian session together with Yen and Swiss Franc. The pull back in US stocks overnight turned out to be shallow and brief. Major indexes managed to pare back much of earlier losses to close just slightly lower. Investors seemed to be just cautious...
Dollar Recovers as Risk Round Lost Steam, Euro Failing Parity
This week's rebound in global stock markets is losing momentum, as major European indexes and US futures are trading lower. Dollar recovers and lead Yen and Swiss Franc higher. Meanwhile, the rebound in Sterling also appears to have exhausted. Aussie and Loonie are following the Pound and next weakest...
NZD Rises after RBNZ Hike, Dollar Stays as Worst Performer
New Zealand Dollar rises broadly in quiet markets today, after RBNZ delivered the 50bps rate hike as widely expected, clearing the doubt that it will follow RBA and opt for a smaller hike. Dollar remains the worst performer of the week, following strong risk rebound in stock markets, while...
Euro Rebounding Higher, Eyes Parity With Dollar
European majors are trading generally higher today, as led by Euro this time. In particular, Euro looks set to reclaim parity against Dollar with current rebound. On the other hand, commodity currencies are trading lower together with Yen. Aussie is under renewed selling pressure, as traders continue to assess...