Euro Weakens after Poor Germany Business Climate, Yen Struggles to Recover
Euro turns slightly softer after poor German business climate reading, in particular against Swiss Franc, Aussie and Loonie. Dollar is also weak except versus Yen. Yen is trying to recover but there is no clear follow through buying. It's the the runaway loser of the week. Overall, Aussie is...
Dollar Turning Softer in Mixed Markets, Gold Extends Rebound
Overall markets are mixed in Asia today. While stocks in Hong Kong are suffering renewed selling, Japan and Singapore are steady. Gold is lifted by general weakness in Dollar. Yen's selling looks more and more exhausted even though it's still the worst performing one for the week, followed by...
Dollar Higher after Jobless Claims, Yen Weakness Resumes
Yen's selloff resumes in early US session as selloff in bonds resume. Dollar picks up some buying after strong job data. But Swiss Franc is stronger with help from selloff in Euro. On the other hand. commodity currencies are turning weaker together with Euro, but pressure on them is...
Dollar and Yen in Consolidations, Aussie Firm
The forex markets are engaging in sideway trading in tight range in Asia today. The selling climax on Yen should have passed for the near term, with Yen pairs turned into consolidation mode. But the Japanese currency remains the runaway loser for the week, followed by Euro at a...
Sterling Lost Momentum Despite Strong CPI, Yen Paring Some Losses
Yen is finally recovering slightly today, as selloff in bonds ease. That is by no means an indication of reversal. But the Japanese currency should be turning into a consolidation phase after recent massive selloff. Dollar is also firming up slightly too, except versus Yen and Aussie. On the...
Fed Hawks Send Yield Higher, Yen Lower
There is no change in the overall theme in the forex markets. Yen's decline continues and there is no sign of slowing yet. Hawkish comments from Fed officials pushed treasury yields further up. Fed Chair Jerome Powell will speak again today and he's expected to reinforce the message that...
Yen Free Fall Continues, Sterling Jumps
The selloff in Yen remains the major theme in the market today, but both Dollar and Euro are also now under some pressure. For now, New Zealand Dollar is winning the race, followed by Aussie and Sterling. Swiss Franc and Canadian Dollar are mixed. In other markets, major European...
Yen Selloff Re-accelerates, Yields Surge on Fed Powell
Yen's selloff re-accelerates after Fed Chair Jerome Powell hinted at a 50bps rate hike at next meeting in May. Dollar is firming up broadly, but trails Canadian. Loonie is supported by extended rebound in oil price, as well as expectations of more BoC tightening too. Swiss Franc is currently...
EUR/GBP Turning Softer, But Overall Markets Tread Water
The forex markets are mixed in rather quiet trading today. Swiss Franc apparently stronger but there isn't much follow through buying yet. Euro could be turning weaker again but it has to dip more to confirm downside momentum. Other major pairs and crosses are still stuck inside Friday's range....
Markets Start Quiet, But SNB and Some Key Data Lie Ahead
The markets are generally quiet in Asian session today. Dollar is mildly firmer together with Canadian. Sterling and Swiss Franc are soft. But major pairs and crosses are stuck inside Friday's range. Asian stocks are mixed, with Japan on Holiday, while others tread water. Gold is consolidating in tight...
Yen Extended Down Trend on Rise in Yields and Rebound in Stocks
Yen's down trend continued last week and even accelerated against commodity currencies. Persistent rally in benchmark yields, rebound in stocks, and diverging central bank expectations are expected to weigh on Yen further. Meanwhile, expected rate hike by Fed and BoE didn't provide much support to Dollar and Sterling, as...
Euro Reverses ahead of Weekend, USD/JPY Resumes Rally
The tide seems to be turning just ahead of the weekend. Swiss Franc is rebounding notably while Dollar is also firmer up. On the other, Euro reverses earlier gain and trades broadly lower. Nevertheless, Yen's weakness persists and it's extending recent decline against the greenback. Commodity currencies are steady,...
EUR/USD Pressing Resistance, Yen Continues as Biggest Loser after BoJ
Yen remains the weakest one for the week, following the extended rebound in US stocks overnight, and persistent strength in treasury yields. Swiss Franc and Dollar are also soft as distant second and third. Meanwhile, Euro is currently the best week performer, followed by Aussie and then Kiwi. Sterling's...
Sterling Dips after Dovish BoE Hike, Euro Mixed
Sterling dips notably after the dovish rate hike by BoE. Yen is following as second worst for the day, then Dollar. On the other hand, Aussie is leading other commodity currencies higher, support by strong job data. Euro is mixed with Swiss Franc, closely watching developments in Ukraine. In...
Yen Extends Decline as Markets Responded Well to Fed Hike, BoE Next
The financial markets have responded rather well to Fed's rate hike overnight. The close in major US indexes was strong while Asian stocks also follow higher. Yen is clearly pressured and is extending recent decline, following rally in benchmark treasury yields. On the other hand, Australian and Canadian Dollar...
Canadian Dollar Surges on Strong CPI, FOMC Next
Canadian Dollar surges broadly in early US session after stronger than expected consumer inflation reading, which solidifies the case for more tightening from BoC. Though, as for today, Aussie is still the strongest, as helped by the massive rebound in China stocks earlier. Yen is turning soft again but...
Dollar Consolidates as Markets Await FOMC Rate Hike and Projections
Dollar is digesting some of this week's gain as markets are awaiting FOMC rate hike and economic projections. There are a lot questions to be answered given the uncertainty over inflation and the economic impact of Russia invasion of Ukraine. As for today, Aussie and Euro are the stronger...
Yen Decline Exhausted, Euro and Sterling Recover
Euro and Sterling are the relatively stronger ones today, but gains are so far limited. The rallies are still capped by the war uncertainties. Economic data is not really playing a role here, considering the UK job data was solid while German economic sentiment plunged. Meanwhile, Canadian Dollar and...
Euro Extends Rebound, Yen Selloff Continues
Sentiment is mixed overall as Russia invasion of Ukraine is continuing. Asia is split into two world, with Nikkei and Singapore markets steady. But Hong Kong and China stock markets are in steep selloff again, after US warned China of helping Russia of easing the impact of sanction. The...
Euro Recovering as Ukraine Holds Another Talk With Russia
European stocks are recovering mildly as Ukraine is going to have another round of talks. But overall sentiment is vulnerable is Russia continues massive shelling and there is no sign of a real stop in its invasion. In the currency markets, Yen's broad based decline continues today, but Aussie...