Market Overview
Sterling Accelerates Lower as No-Deal Brexit Looking Very, Very Likely
Sterling's selloff accelerates further today after leaders from both EU and UK admitted that their negotiations positions are still part. No-deal Brexit is now seen as the most likely scenario, and we should know very soon by the end of Sunday. Dollar and Yen recover mildly today, on mild...
Australian Dollar Accelerates Up with Iron Ore Prices, Euro Capped after Post ECB Rally
Accelerating rally in iron ore prices pushes Australian broadly higher today, on the back of steadily firm risk sentiment. The Aussie is currently the strongest one for the week, followed by New Zealand Dollar, while Canadian is not far away, with help from oil prices. Sterling remains the worst...
Dollar Dives as Jobless Claims Surge, Euro Firm as ECB Delivers
Dollar falls broadly in early US session after much worse than expected jobless claims data, confirming the impact of the current wave of coronavirus pandemic. Yen is not far behind for now as second weakest. But Sterling is also facing some selling pressure on Brexit impasse. Commodity currencies are...
Sterling Softens on Brexit Impasse, Euro Awaits ECB
Sterling softened again after the Brussels meeting ended with nothing more than comments that UK and EU are still far apart. Yet, traders are still holding their bets for now. Yen and Dollar also shrug off the deep pull back in US stocks overnight. Some fresh selling is seen...
Sterling Rebounds ahead of Johnson’s Brussels Trip, Euro and Swiss Soften
Sterling rebounds strongly today on hope that the physical meeting between the leaders of UK and EU would yield some positive progress on post Brexit trade talks. Yet, traders are not too committed on the bullish side yet, after Prime Minister Boris Johnson reiterated his hard-line stance. Australian Dollar...
Markets Returning to Risk-on Mode, Dollar Vulnerable to More Downside
Dollar and Yen are back under some selling pressure today, as markets seem to be returning to risk-on mode. NASDAQ hit another record high overnight, and Asian markets are generally trading in black. The greenback's weakness is also seen as it's vulnerable to breaking a key psychological level against...
Dollar and Yen Turn Softer as Markets Stuck in Range Trading
Trading in the forex markets is rather subdued today. Major pairs and crosses are staying inside yesterday's range for now. Dollar and Yen turn softer. Sterling is in a weak recovery, but lacks follow through buying. It's too hard for traders to commit to a bet on a trade...
Sterling Pares Losses as Johnson Decides to Travel to Brussels on Brexit Talks
Sterling pares back some of its losses as traders refused to add to bet on no-deal Brexit for now. Though, the Pound remains generally weak in Asian session today. Markets are relatively quiet elsewhere with stocks trading in mixed mode. Treasury yields also gave back some of last week's...
Sterling Falls Sharply on Brexit Deadlock, Swiss Franc Surges
Sterling is heavily sold off today as risk of no-deal Brexit is increasing with no major breakthrough in the never-ending negotiations. It's even unsure if talks will be concluded today, or continues till Wednesday. An European Commission spokesman even refused to "speculate on a last chance date" for the...
Sterling Softens as Brexit Talks Drag On, Yen and Swiss Mildly Higher
The forex markets are quiet in a typical Asian session on Monday. Yen and Swiss Franc are trading slightly higher as Asian stocks pull back from recent rally. While exports number from China look strong, imports growth clearly lagged behind. Sterling is currently the weaker one as Brexit negotiations...
Dollar Index Might Find Temporary Support at 90 after Down Trend Resumption
Selloff in the Dollar was the main theme in the currency markets last week. With the arrival of coronavirus vaccines, the global economy looks set to return to normal next year, despite some cautious comments from central bankers. Yen might look worst than Dollar but it is indeed still...
Canadian Dollar Boosted Further by Job Data, Greenback Shrugs NFP
Canadian Dollar is given another boost in early US session after stronger than expected job data. In the background, the Loonie has already risen following higher oil prices. Dollar, on the other hand, has little reaction to much worse than expected non-farm payroll report. For the week, Dollar and...
Canadian Dollar Follows Oil Higher, Dollar Looks Forward to NFP
Canadian Dollar is trading generally higher in Asian session, with support from upside break out in oil prices. But Aussie and Kiwi are soft. Dollar is taking a breather in Asian session after yesterday's selloff, as focus turns to non-farm payrolls report. For the week, Dollar and Yen remain...
Dollar Selloff Accelerates Despite Jobless Claims, Gold Eyes 1850 Resistance
Dollar's selloff accelerates today and better than expected jobless claim data provide no support. European majors are generally firm, with Sterling leading the way this time. But the rally in the Pound is unconvincing so far, with uncertainties over Brexit trade talks. Commodity currencies are relatively mixed, with Canadian...
Yen Down on Surging US Yields, Europeans Stay Strong
Yen trades generally lower today as pressured by surging US treasury yields and mild risk-on sentiments. Dollar and commodity currencies are not too far behind. European majors continue to be strong as led by Euro and Swiss Franc. Sterling is not performing too badly against others as traders are...
Sterling Hammered on Brexit Uncertainty, Swiss Franc Surges
Selloff in Sterling is the main theme for today. UK become the first country to approve Pfizer-BioNTech coronavirus vaccine and shots are due next week. But the good news was overshadowed by Brexit uncertainties. As the negotiation deadline looms it's reported that EU is insisting not rushing to a bad...
EUR/USD Upside Breakout as US Stocks Extend Record Run
Dollar and Yen were solid off broadly overnight as S&P 500 and NASDAQ extended record runs. More importantly, the greenback has finally broke through a key support level against Euro, confirming down trend resumption. European majors are currently the strongest ones as led by the common currency. Australian Dollar...
Stocks Start the Month Strong, But No Downside Breakout in Dollar Yet
Yen and Dollar are generally softer today as markets open December on firm footing. Australia Dollar is following as third weakest as diplomatic tension with China worsens. On the other hand, Euro is leading Swiss Franc higher. Manufacturing data from China and UK indicate sustainable recovery for now, while...
Loonie and Sterling Firmer in Dull Month-End Trading
Overall, the markets are relative quite today, in month end trading. Stocks are struggling in tight range, indifferent to news of Modern's plan to see US and EU clearance for their vaccine. In the currency markets, Sterling is currently the strongest one, awaiting news on Brexit trade talks. Canadian...
Gold Selloff Resumes, Markets Shrug Solid Data from Japan, China and New Zealand
Asian markets are generally mixed despite some solid data from Japan, China and New Zealand. Yen is lifted mildly by the relatively optimistic economic outlook. Sterling is also slightly firmer after UK Foreign Minister Dominic Raab indicated Brexit negotiations are "down to really two basic issues" only. Dollar, Canadian...