Market Overview
Dollar Pressured on US Stimulus Hope Again, Euro Stays Strong
Dollar is under some selling pressure since overnight as US politicians were still optimistic in closing a fresh stimulus deal by election. This appears to be the most volatility triggering theme for the near term for now. Commodity currencies are trying to recover in Asian session today but Aussie...
Euro and Swiss Franc Rally as Markets Expect More Negative Rates Elsewhere
Markets continue to be dominated by strength of Euro and Swiss Franc today. That comes in spite of surging coronavirus infections in Europe. Meanwhile, the deadlock of Brexit negotiations remain. Traders are apparently adding to bet that more global central banks, like RBA and BoE, are joining the negative...
Aussie Bears in Control on RBA, Euro Strength Continues
Australia's Dollar's decline is resuming today as RBA minutes, as well ass comments from a top official solidify the case for imminent easing in November. Weaker risk sentiments also weigh on commodity currencies in general, after US stocks reversed initial gains to close sharply lower. Euro and Swiss Franc...
Dollar Weakens on Renewed Stimulus Hope, Euro Surges
Dollar and Yen are back under notable selling pressure today. US investors are apparently ignoring continuing surge in global coronavirus infections, which broke 40m mark. Instead, there is renewed hope of fresh fiscal stimulus, as House Speaker Nancy Pelosi said a pre-election deal remains possible. Meanwhile, UK and EU...
Sentiments Lifted Slightly by Upbeat Chinese Data, But Movements Limited
Commodity currencies follow Asian markets slightly higher today, with support from solid economic data from China. On the other hand, Euro and Swiss Franc are softer on concerns over record coronavirus infections and return to lockdown. Additionally, Euro could face more pressure if recent steep decline in German yields...
Chaotic Markets With Many Themes Going On
It's a rather chaotic week with many themes developing. The first October surprise of US President Donald Trump's coronavirus infects seemed to have fade as he's back in election campaign. Just as challenger Joe Biden appeared to be widening lead, according to mainstream polls, another October surprise surfaced with...
Sterling Range Bound after Volatility, Brexit Talks Still Going to Continue
Sterling is a focus today in otherwise relatively quiet markets. Brexit jitters triggered much volatility in the Pound. But it's staying in range as, after all, negations between UK and EU will still continue next week, probably with some intensifications. As for the week, Australian Dollar remains the weakest...
Dollar & Yen Firm, But More Needed to Prove Their Strength
Dollar and Yen remain generally firm in Asian session while Australian and New Zealand Dollars are soft. US stocks pared back much of the initial losses overnight with DOW ended nearly flat. Overall sentiments are also stable and mixed in Asia only. Coronavirus infections and politics, like US election...
Safe Haven Flows Back to Dollar, Yen and Bonds
Risk aversion is currently in driving seat in the markets today. In the US, hope of fresh fiscal stimulus fades for now, most likely not until after elections. In Europe, countries are going back into lockdowns as coronavirus cases hit records. Negative sentiment drive global stock indices lower and...
Aussie Weakens Broadly as RBA Hints on Further Easing, Risk Sentiments Turn Soft
Australian Dollar drops broadly today after RBA hints at more monetary easing next month. It's also weighed down by mixed job data, as well as weaker risk sentiments. It now appears that US politicians won't agree to a new stimulus deal before election. US stock indices struggled to get...
Sterling Powers Up after Initial Dip, Dollar Recovery Fades
Sterling had a roller coaster ride today, dropped notably on concerns over the deadlock in Brexit negotiations. Though, it then rebounded on talks that UK is still going to engage in talks after its self imposed mid-October deadline. Additional the country avoided a national coronavirus lockdown. The Pound is...
Dollar Struggling to Extend Rebound in Indecisive Markets
The markets are overall indecisive or the moment. US indices retreated mildly just ahead of record highs overnight. Mild softness is carried forward to Asian session. G20 finance leaders are seeing a less negative outlook for the global economy. Yet, the path forward remains highly uncertain depending on the...
Sterling Softens on Restrictions and Brexit Deadlock, Aussie Retreats Further
Sterling softens broadly today as UK unemployment rate rose more than expected while the part of the country is returning to restrictions. Additionally, there appears to be no progress on Brexit negotiation ahead of the EU summit later this week. Australian Dollar is the second weakest as China moves...
Dollar Recovering as J&J Paused Vaccine Study, Aussie Tumbles
Dollar is trying to recover in Asian session while Aussie tumbles broadly. Sentiments appear to be turning cautious on news that Johnson & Johnson paused coronavirus vaccine study due to an unexplained illness in a participant. UK also started a tiered system of fresh coronavirus restrictions. WTI crude oil...
Yen Rebounds in Quiet Markets, Politics to Drive the Week
Asian markets are trading in mixed most, decoupling from strong rally from the US on Friday. The forex markets are also steady. Yen is trading broadly higher and could be riding on the rebound against Dollar to strengthen elsewhere. Dollar is the currently the second strongest for today but...
Dollar Tumbled as Investors Hungry for Risks, Down Trend Resuming?
Yen and Dollar ended the week as overwhelmingly the worst performing ones. Despite all the jitters regarding US President Donald Trump's coronavirus infections, stimulus talks stalemate, major stock indices ended the week strongly higher. Yen is additionally pressured by strong rally in treasury yields too.
On the other hand, Canadian...
Canadian Powers Up on Job Data, Dollar Tumbles on Risk-on Markets
Canadian Dollar strengthens against most major currencies in early US session as boosted by stronger than expected job data. That comes in the back ground of this week's strong rally in oil price too. On the other hand, Dollar is under broad based pressure as global stock markets are...
Canadian Dollar Surges With Oil Price, Job Data Eyed
Canadian Dollar surged broadly overnight, following the strong rally in oil prices, partly due to strike in Norway which affect as much as one million barrels a day of crud oil production. The Loonie is also the strongest one for the week so far, awaiting employment data for the...
Euro Heads Lower in Indecisive Markets, Aussie Firmer
Commodity currencies are the main drivers in the markets today, as Australian Dollar leads others higher. European majors, on the other hand turn weaker as led by Euro. Dollar and Yen are mixed for the moments, awaiting the next move in risk markets. Global stock markets seem to have...
Yen Stays Pressured on Surging Stocks and Yields, Dollar Keeps On Defending
Yen continues to feel much selling pressure, partly thanks to strength in treasury yields, and partly due to the strong rebound in US stocks overnight. Asian markets turned mixed, however, with Hong Kong and Singapore in slight red. New Zealand Dollar suffered notable selling on news that RBNZ is...