Market Overview
Yen Crosses Rebound as NASDAQ and S&P 500 Made New Records
Yen trades broadly overnight on strong risk appetite, with NASDAQ and S&P 500 closing at new record highs. And it remains generally soft in Asian session. Some selling in seen in Australian Dollar after RBA minutes, but loss is very limited. Other commodity currencies are indeed trying to firm...
Sterling Softens on Possible Reopening Delay, Range Trading Continues
The forex markets continue to be generally quiet today, stuck inside Friday's range. Sterling is mildly lower on talks that UK Prime Minister Boris Johnson is going to delay easing of restrictions due to rise in the Delta variant infections. Yen is also trading lower together with Swiss Franc....
Forex Quiet as FOMC Awaited; Gold, Oil and Bitcoin on Moves
Trading is generally subdued in Asian session today, with little reactions to the G7 summit. Also, China and Hong Kong are on a one-day holiday. Commodity currencies are mildly firmer while Swiss Franc and Yen are softer. But all major pairs and crosses are stuck inside Friday's range. Instead,...
Swiss Franc, Dollar, and Yen Jumped on Falling Global Benchmark Yields
The intra-week rebound in global benchmark treasury yields was rather short-lived. Yields in Germany, US and Japan then turned south after ECB's decision on PEPP purchases. That came even though CPI jumped to 13-year high. It remains to be seen of investors are giving a strong node to central...
Dollar Rises ahead of Weekend, Sterling Firm after GDP
Notable buying is seen in Dollar as markets enter into US session. There is no apparent reason for the rally, except that some traders could be adjusting positions ahead of the high profile G7 summit. Resilience in the Swiss Franc is affirm this pre-emptive risk aversion. Meanwhile, Sterling is...
Swiss Franc Firm as Focus Turns to Sterling
Swiss Franc is generally firm as weekend approaches. Even though there was no follow through buying in Euro after ECB overnight, the common currency is somewhat support mildly by the strength in the Franc. Meanwhile, Yen's selloff faded quickly, together with the rebound attempt in treasury yields. Dollar, Canadian...
Muted Reactions to ECB and US CPI, Yen Lower Following Yield Rebound
There are heavy weights event for Euro and Dollar today, but reactions are so far mild. ECB said it will continue the PEPP purchases at "significantly higher" pace in Q3. Yet, it also upgraded both growth in and inflation forecast for this year and next. Dollar shrug off very...
Euro Softens ahead of ECB, US CPI also Featured
Euro softens broadly today as markets await ECB policy decision. Traders appear to be position for a dovish, or at least cautious, ECB press conference. Nevertheless, Sterling and Dollar are also soft, indicating that the markets are not one sided yet. Meanwhile, commodity currencies are trading mildly firmer today,...
Subdued Trading Continues While Treasury Yields Fall
Major pairs and crosses are bounded inside yesterday's range so far, as quiet trading continues. Dollar is mildly lower but loss is very limited, while Swiss Franc might be picking up some buying again. Stock markets are also treading water in very tight range. Nevertheless, notable weakness is seen...
Canadian Dollar Leading Commodity Currencies Lower, BoC Next
Global financial markets are generally treading water this week so far. Trading in the forex markets is also subdued. Canadian Dollar is currently leading other commodity currencies lower, awaiting BoC policy decision today. On the other hand, Swiss Franc is the strongest one, lifting Euro higher too. In other...
Swiss Franc Rises Broadly, Sterling Weakens
Swiss Franc jumps broadly in otherwise quiet markets today. Canadian Dollar is second strongest, then Dollar, but both are staying inside yesterday's ranges. Sterling is currently the worst performing one, followed by New Zealand Dollar and then Yen. But the selling in the two are far from being clear....
Dollar Recovers After Failing Downside Breakout, Overall Trading Subdued
Trading continue to be relatively subdued this week so far. While Dollar weakened overnight, losses were very limited. The greenback is indeed recovering mildly in Asian session. Australian Dollar also received little lift from strong business conditions data. Gold breached 1900 handle, but lacks the conviction to extend near...
Yen Stronger With Aussie and Kiwi in Mixed Trading
The financial markets continue to be relatively mixed entering into US session. Aussie and Kiwi are currently the strongest one, together with Yen. On the other hand, Dollar and Euro are the weakest ones, together with Loonie. European indexes are trading mildly higher but upside is limited. Gold and...
Dollar Consolidating Losses, But No Momentum for Recovery
Markets are mixed in a quiet Asian session today, with little reaction to China's trade data. Dollar is consolidating last week's late lost but there is no apparent momentum for a rebound. On the other hand, Yen is mildly higher on sluggish stock markets in the region. Gold is...
Aussie Ready to Turn Around after Late Rebound?
Dollar was in a pole position to end as the strong one but was the unfortunately knocked down by solid, but disappointing non-farm payroll report. The data did nothing to alter the base position of Fed officials that, it's only time to talk about talking about tapering for now....
Dollar Fades after Another NFP Miss, US Futures Up
Dollar drops notably in early US session after another NFP miss. It has now reversed all of yesterday's late gains. Canadian Dollar also turns softer after weaker than expectation job data. On the other hand, other commodity currencies strengthen mildly. In other markets, US future turn up on expectation...
Dollar Rebounded Strongly and Broadly as Focus Turns to Non-Farm Payrolls
Dollar rose broadly overnight, following solid job and services data, and remains firm in Asian session. Nevertheless, the real test lies in today's non-farm payroll report. As of now, Yen is the second strongest for the week, following the green back. Canadian Dollar is the third strongest, and will...
Dollar Mildly Higher after Strong ADP Jobs, But Upside Limited
Dollar trades slightly higher in early US session on much better than expected ADP private job data. Though, upside is so far limited, as traders remain cautious ahead of tomorrow's non-farm payrolls report. Sterling is following as the second strongest for today, then Yen. On the other hand, commodity...
Range Trading Continues as Markets Await Breakouts
Major pairs and crosses are still bounded inside last week's range as markets failed to take a decisive direction. While oil price continues to strengthen its rally, there is little reaction from Canadian Dollar so far. Stocks are also range bound while 10-year yield hover around 1.6 handle. Nevertheless,...
Dollar Recovers in Range Bound Markets, No Breakout Yet
The financial markets continue to be range bound today, as traders seem to be holding their bets before Friday's US job report. Dollar is recovering mildly but it's held below next term resistance levels. Sterling is currently the stronger one, while Swiss France is the weakest.
Technically, we're still staying...