Swiss Franc Extending Rally, Yen Softens as Yields Recover
Swiss Franc is staying as the strongest one for today while markets are rather quiet elsewhere. Yen turns slightly weaker and US and European yields recover. But Dollar is also weak on overall steady sentiment. As for the week, however, Aussie and Kiwi are the worst performers, followed by...
EUR/CHF Extending Decline, Aussie and Kiwi Soft
Overall, the forex markets are pretty much staying in range, except for a few. Aussie and Kiwi are the weaker ones for the week, as weighed down by negative sentiment, as well as falling commodity prices But Dollar isn't too far behind, following the pull back in treasury yields....
Euro Falls on Poor PMIs, Yen Recovering Further
Euro falls broadly today after worse than expectation PMI data. Aussie and Loonie are also weak as commodity prices pull back. On the other hand, Yen and Swiss Franc are rebounding, following the rather deep pull back in US and European benchmark yields. Stock markets are mixed with European...
Yen Recovering, Aussie Follows Commodities Lower
While the stock markets are steady, Aussie, Kiwi, and to a lesser extend Loonie, are trading generally lower. Decline in commodity and energy prices, on concerns over recession, appear to be weighing down on these currencies. Copper prices dropped to the lowest level since March 2021, while iron ore...
CAD and GBP Shrug Strong CPI, USD Awaits Powell
Risk aversion seems to back in indecisive markets today, with major European indexes and US futures trading down. Yen and Swiss Franc are trading mildly higher, followed by Dollar. Sterling and Canadian receive little support from strong consumer inflation reading. But Aussie and Kiwi are the worse performers while...
Sterling Looks into Inflation Data, Risk Sentiment Indecisive
Overall risk sentiment is rather indecisive in the markets. While US stocks staged a strong rebound overnight, there is no follow through buying in Asia. Dollar and Yen are trading mildly higher today, together with Swiss Franc. New Zealand Dollar is leading commodity currencies lower. Sterling is mixed for...
Yen Selloff is Back as USD/JPY Resumes Up Trend
Yen's selloff accelerates today as US stocks are set to stage a rebound after the long weekend. For now, Euro is the strongest one with help from rebound against Sterling and Swiss Franc. It's followed by Canadian Dollar, which is supported by slightly better than expected retail sales data....
NZD Dips after Poor Consumer Confidence, Markets Staying in Consolidations
The markets are rather mixed in Asian session today, engaging in mostly consolidative moves. New Zealand Dollar trades broadly lower following record low consumer confidence data. But Canadian and Australian Dollars are firmer on steady risk sentiment. Dollar is also weak together with Yen while European majors are mixed.
Technically,...
Markets Tread Water With US on Holiday, Dollar and Yen Soft
Markets are generally quiet today, with a near empty European calendar and US holiday. Major European indexes are recovering slightly but lack follow through buying. Gold and oil are staying in tight range. In the currency markets, Aussie and Kiwi recover mildly while Dollar, Yen and Euro are the...
Bitcoin Breaks 20k, Sterling Awaits UK Data
Overall markets are rather steady in Asian session today. Even the free falling crytocurrencies are stabilizing slightly. Major Asian indexes, except Nikkei, are treading water. Dollar and Yen are softening slightly with Sterling. Aussie and Euro and mildly higher. But most major pairs and crosses are just stuck inside...
Markets Reacted Negatively to Rate Hikes, Franc and Dollar Shone
Net reactions of the global markets to Fed's 75bps rate hike were rather negative. Global stocks ended generally lower after initial recovery. Additionally, SNB delivered a surprised 50bps rate hike while BoE's 25bps had a hawkish undertone with three members wanted more. BoJ stayed calm and kept interest rate...
Swiss Franc to End the Week as Strongest, Dollar Staying Second
Swiss Franc remains the strongest one for the week and stays firm into US session. Dollar is also regaining some ground, as the second best. On the other than, commodity currencies are the worst performing one, as led by Canadian. In other markets, European indexes are mildly in black...
Yen Falls Broadly after BoJ Stands Pat, Swiss Franc Staying Strong
Yen trades broadly lower today after BoJ left monetary policy unchanged, including keeping the 10-year JGB yield cap. Selling is not too fierce for now on mixed sentiment in the Asian markets. But if global stocks stage a pre-weekend rebound, the decline in Yen could quickly intensify. Meanwhile, Swiss...
Swiss Franc Skyrockets after SNB Rate Hike, Sterling Firmer after BoE
Swiss Franc surges sharply higher today after surprised rate hike by SNB. Sterling also rises on BoE rate hike with hawkish voting. Yen is following closely on risk aversion but Dollar is lagging slightly behind. The greenback is still digesting post FOMC position adjustments. Risk-off sentiment sends commodity currencies...
SNB and BoE Next after Fed Delivered
US stocks recovered overnight after Fed delivered the 75bps rate hike as market priced in, while Dollar and yields retreated. Asian markets are mixed with some weakness seen in Hong Kong HSI. For the week, the greenback remains the strongest one, except versus Yen which it's paring gains against....
Markets Turn Cautious ahead of FOMC, Fed to Hike 50bps or 75bps?
The forex markets are generally staying inside yesterday's range so far today. Stocks in Europe and US futures are recovering while treasury yields retreat. Traders are clearly turning cautious ahead of FOMC rate decision. The question is whether Fed would deliver 75bps hike as markets priced in, or stick...
Dollar Firm in Right Range as FOMC Rate Hike Awaited
The forex markets are steady in tight range in Asia, while Dollar remains the strongest one for the week. Main focus today is on whether Fed would deliver a 75bps hike as markets fully priced in, or stick to its "original plan" of 50bps hike per meeting. Yen is...
Sterling Selloff Resumes, Dollar Power Continues
Sterling's selloff resumes today, after job data added to expectation that BoE would lag far behind Fed in tightening. Weak market sentiment sends commodity currencies lower. Thanks to buying against the Pound, Euro is so far the strongest one for today, leading Dollar, Yen and Swiss Franc. But still,...
Dollar Rally Still Indecisive Despite Expectations of 75bps Fed Hikes
Dollar is paring some gains today as markets digest near term moves. But the greenback remains the strongest for the week, as markets are adding bets to more aggressive rate hikes by Fed this week, and at next month's meeting. Yen is so far the next strongest, as supported...
Sterling Dives after Unexpected GDP Contraction, Yen and Dollar Surge
Sterling falls broadly today after GDP unexpected contracted for the second month in April. Chance of an overall contract in Q2 is raised while there are few positive signs for Q3 for now. Meanwhile, the remaining chance of a 50bps hike by BoE later this week is basically priced...