Yen Selloff as the Main Theme of the Day
Yen's selloff is the main theme today with USD/JPY hitting the highest level in 24 years, above 140 handle. Australian Dollar quickly turns softer after RBA delivered an expected rate hike. On the other hand, Sterling is getting a lift after Liz Truss is set to become the next...
Aussie Mixed after RBA Hike, Dollar Paring Gains
Australian Dollar is trading mixed, slightly to the soft side, after RBA's expected 50bps rate hike. There is basically no surprise out of the statement. Dollar is paring back some of recent gains while Yen is also soft. On the other hand, Sterling is leading Euro for a rebound...
Euro Staying Weak, But Not Giving Up Yet
Euro remains the worst performer for the day so far, as weighed down by the news that Russia's state-controlled Gazprom would stop gas delivery via the Nord Stream 1 due to a fault. Yet, the common currency is not giving up yet, as losses are relatively limited. Dollar is...
EUR/USD Downside Breakout; Focus on RBA, BoC and ECB This Week
The downside breakout in EUR/USD is finally here as markets focus turns to meetings of RBA, BoC and ECB. Dollar is rising broadly, and risk-off sentiment takes Yen and Swiss Franc higher too. Euro is starting to reverse some of last week's gain while Sterling is staying weak. Commodity...
Dollar and Euro as Joint Winner, Risk Aversion Intensified
Dollar and Euro ended as double winners of the week. The greenback was boosted by solid economic data from the US, including non-farm payrolls, risk aversion, and rising yields. On the other hand, ECB policy makers were singing a hawkish chorus which prompted expectation of a 75bps rate hike...
Dollar Struggles to Gain after NFP, Euro Buying Returns
Dollar is extending recent up trend against Yen after non-farm payroll report, but struggles to gain against others so far. Instead, Euro shines again on news that Russia looks set to resume gas supplies to Europe through Nord Stream 1. The common currency is retaining its number one place...
Dollar Strong ahead of NFP, Time for EUR/USD Breakout?
With risk-off sentiment and rising treasury yields, Dollar is extending recent rally as focus now turns to US non-farm payrolls report. 2-yaer year hit the highest level since 2007 overnight while 10-year yield also breaks above 3.2 handle. While Dollar is strong, Euro is also resilient, holding in range...
Dollar Continuing Rally, Euro Losing Momentum
Dollar's rally continues in early US session as supported by risk aversion and rising yields. On the other hand, Euro is staying to digest this week's gain, and broadly. As for today, Canadian Dollar is currently the second strongest, following the greenback. Aussie and Kiwi follow. Sterling and Yen...
Dollar Back in Control on Risk Aversion and Rising Yields
Dollar is back in control in Asian session, with some help from risk averse sentiment. Euro is staying firm against Sterling and Swiss Franc, and is picking up upside momentum against commodity currencies. In particular, Aussie is sold off on poor manufacturing data from both Australia and China. Yen...
Euro Up Against Europeans after CPI, Dollar Sluggish after ADP Miss
Euro is extending near term rally against Swiss Franc and Sterling after even higher than expected record inflation. But it's struggling to gain against most other currencies. Dollar is also sluggish after ADP employment disappointment, while Yen's is recovering. Commodity currencies are mixed for now. It seems like traders...
Euro Firm as Supported By ECB Hawks, CPI Watched
Euro is staying as the strongest one for the week, as supported by a chorus of ECB hawks. Markets are starting to price in a 75bps rate hike by ECB next week. For now, the strength in Euro is most apparently only against Sterling, Swiss Franc and Yen. It's...
Euro Extending Rally… Against Sterling and Swiss Franc First
Euro is trying to extend recent rally, but the gains also so far concentrated against Sterling and Swiss Franc. Persistent flow of hawkish comments from ECB official is support the common currency nevertheless. Australian Dollar and Yen are currently the stronger ones for the day. The Pound, Franc and...
No Clear Follow Through Buying in Euro Yet
The markets are generally quiet in Asian session today. Euro surged notably yesterday as traders raised their bets on ECB rate hike next week, with some expecting a 75bps increase. But there is no clear follow through buying for now. While Dollar is paring some recent gains, loss is...
Euro Strikes Back on ECB Bets, Dollar Reversing Gains
Euro is staging a strong come back today, as supported by hawkish comments from ECB officials over the weekend. In short, a 50bps rate hike looks like that base case for ECB meeting next week, with some possibility of a 75bps hike. Dollar is reversing some gains in spite...
Dollar Extends Post Powell Rally, Yen Down
Dollar rises broadly in Asian session, extending the post-Powell rally. Risk-off sentiment is a factor giving the greenback another boost. At the same time, 10-year yield is back above 3.1% in Asia, giving Dollar another lift, and hammers Yen at the same time. The trend will likely continue for...
Fed Powell Brought Risk Aversion Back, Dollar Ready for More Upside
In terms of prompting market volatility, Fed Chair Jerome Powell didn't disappoint. Stocks suffered steep selloff after his Jackson Speech. While Australian Dollar was still at top of the chart, most of its earlier gains evaded on Friday, and looks set to weaken further in the near term. Dollar...
Dollar Dips as PCE Inflation Slowed, But Loss Limited So Far
Dollar dips in early US session following lower than expected PCE and core inflation data. But loss is so far limited as traders are holding their bets ahead of Fed Chair Jerome Powell's speech. Euro, Aussie and Swiss Franc are so far the stronger ones for the day, while...
Dollar Mixed Awaiting Fed Powell, Europeans Staying Soft
The forex markets are generally steady in Asian session today, as traders are still holding their bets ahead of Fed Chair Jerome Powell's Jackson Hole speech. US stocks staged a rebound overnight, but there was little reaction elsewhere. For the week, commodity are currently the strongest, led by Aussie....
Aussie Extends Rally, Europeans Weak, Dollar Consolidates
Dollar is staying soft in consolidation today, as traders are clearly still cautiously waiting for rate clues from Fed Chair Jerome Powell's Jackson Hole speech tomorrow. Yen is also mixed despite surging benchmark treasury yields. Movements are mainly found in Aussie and Kiwi, on rallies, which are lifted by...
AUD/JPY Extends Rally, Dollar Turns Softer Again
Dollar turns softer in Asian session today, but stays in familiar range. Traders would likely remain cautious until Fed Chair Jerome Powell's speech at the Jackson Hole Symposium tomorrow. For now, Aussie and Kiwi are the stronger ones for the day. European majors and Canadian Dollar are soft too,...