Market Overview
Aussie, Kiwi Slip on Asia Stock Retreat, PMIs Weigh, Dollar Awaits Fed’s Bowman and Powell
Commodity currencies slipped in quiet trading today, with Aussie and Kiwi leading losses as regional equities pulled back. With Japan on holiday, volumes were thin, but risk sentiment deteriorated after both Chinese and Hong Kong tech stocks retreated from a month-long rally.
Australia’s PMI data added further weight to the...
Dollar Rebound Pauses, FX Range-Bound as Markets Awaits Fedspeaks
Trading remained subdued in the forex markets today, with most major pairs consolidating within Friday’s ranges. Dollar has given back some of last week’s gains, though selling momentum remains modest and order flows are light. Market conviction on the Fed outlook remains steady. Futures price a 92% probability of...
Quiet Markets Look to Fed and BoE Commentary
Forex markets started the week on a subdued note, with Asian trading showing little momentum. With no top-tier data scheduled, activity is likely to stay muted until later in the week, leaving traders watching central bank commentary for direction.
Several Fed officials are set to deliver remarks today, their first...
Everybody Happy? Fed’s Decision Calms Markets—for Now
The past week has been anything but quiet for global markets. A long-anticipated Fed rate cut finally arrived, but the message was less dovish than traders had braced for. Instead, policymakers struck a balance — restarting the easing cycle while simultaneously projecting confidence in the economy’s resilience. That left...
Dollar Gains Momentum, Outpaces Peers as 10-Year Nears 4.15%
Dollar’s rebound is gathering strong momentum today, surging broadly across the board as markets continue to realign with the Fed’s message from midweek. After being under pressure earlier in the week, the greenback is now positioned to potentially end as one of the strongest performers. Supporting the move, U.S....
Yen Rebounds as BoJ Tilts Hawkish, Nikkei Retreats From Record
Yen staged a broad rebound today after the BoJ held rates steady at 0.50% but delivered a hawkish signal with two members dissenting in favor of a hike. The shift in the board underlined growing momentum toward policy normalization. At the same time, the Nikkei pulled back sharply from...
Sterling Holds Ground After BoE, Dollar Loses Momentum
Sterling traded steadily mixed today, showing little reaction to the BoE’s decision to hold rates at 4.00%. The 7–2 vote leaned slightly dovish, with Swati Dhingra and Alan Taylor backing a 25bps cut, but the outcome was broadly expected given their well-established dovish leanings. Importantly, the MPC’s statement flagged...
Dollar Finds Relief from Fed, Kiwi Crashes on GDP, BoE Next
Volatility surged overnight as markets digested the Fed’s 25bps cut and updated projections. The Dollar initially sank on confirmation of two more cuts this year, only to rebound sharply as traders judged the overall stance less dovish than expected. The reversal pulled Wall Street and Gold lower from record...
Loonie Steady as BoC Cuts as Expected, Fed Now in Spotlight
The forex markets were steady in early U.S. trading, with the BoC’s widely expected 25bps rate cut to 2.50% generating little reaction. The decision was fully priced in, and the absence of fresh guidance left traders reluctant to adjust positions.
The BoC struck a cautious balance in its statement, offering...
Calm Before the Fed: Dollar Soft, Markets Brace for Guidance
Markets traded with a subdued tone today as investors awaited the Fed’s highly anticipated policy decision. The Fed is expected to cut rates by 25bps, but the real market mover will be the details: how divided the vote is, what the updated projections show, and the signals Chair Jerome...
Dollar Struggles Despite Strong US Retail Sales, EUR/USD Eyes Key 1.1829 Resistance
Dollar remained under pressure today even after U.S. retail sales came in stronger than expected. While the data trimmed expectations of back-to-back Fed cuts in October slightly, with odds dipping yet still holding near 78%, it did little to support the greenback. Markets appear more focused on front-running a...
Markets Rally as Fed Dovish Shift Seen Certain, TikTok Framework Struck
Risk appetite in the U.S. stayed strong overnight, with both S&P 500 and NASDAQ closing at fresh record highs. Traders leaned further into risk assets as confidence grew that the Federal Reserve will restart its easing cycle this week. Additional support came from news that Washington and Beijing had...
Dollar Slump Resumes as Traders Bet on Dovish Fed, Euro Shrugs Off France Downgrade
Dollar’s broad-based selloff resumed today, with Sterling and the Euro leading gains. Investors are positioning ahead of this week’s pivotal FOMC meeting, where debate has intensified over whether the central bank could move more aggressively than expected. Dollar was the weakest major on the day, with the Kiwi also...
Traders Look Past Weak China Data, Eye Fed and Madrid Talks
Forex markets were subdued in Asian session today, with major pairs showing little movement while regional equities held steady. The muted tone comes despite a disappointing run of Chinese economic data, which showed broad weakness in activity. Investors appeared reluctant to extrapolate too much pessimism from the Chinese numbers....
Risk Appetite Anchored by Fed Cut Bets, Aussie Outshines Peers
Markets entered last week with elevated anticipated and left with even sharper convictions. Weak U.S. labor data tilted sentiment decisively toward faster Fed easing, while equity markets used that prospect as a springboard to yet another round of record highs.
Bond markets echoed that view. US 10-year yield broke briefly...
Dollar Recovers Slightly, But Fed Cut Bets Cap Upside
Dollar steadied today, recovering modestly after yesterday's selling, though the move lacked conviction. With investors convinced the Fed will cut rates next week, the greenback remains capped, unable to mount a broader rebound. For now, the greenback is only outperforming Yen and Loonie. Yen remains under pressure from buoyant...
Risk-On Momentum Builds, Aussie Shines
Risk-on sentiment gripped markets on Friday, driving the Nikkei to fresh record highs in Asia after Wall Street’s main indexes closed at record levels overnight. Investors added to bets on faster Fed easing following the sharp jump in U.S. jobless claims, reinforcing the view that back-to-back cuts are on...
ECB and US CPI Underwhelm, Jobless Claims Take Spotlight
Today’s high-profile events turned out to be something of a letdown for traders. Euro dipped after the ECB held its deposit rate steady at 2.00% and published new staff projections, but the move was shallow and short-lived. Markets took note that both headline and core inflation are now projected...
ECB Hold Expected, U.S. CPI Could Move Everything
Asian markets were mixed in quiet trade today, with investors holding back ahead of two key events: the ECB policy meeting and U.S. CPI. The lack of conviction reflects a cautious stance, with traders unwilling to take on fresh positions before clarity emerges.
The ECB decision is much less likely...
Dollar Dips Slightly on Softer PPI, Bigger Bets Deferred Until CPI
Dollar dipped briefly in early American session while U.S. futures rebounded after producer price data showed cost pressures easing modestly. The report emboldened bets on further Fed easing, with odds of a 50bps cut next week edging up to 10% and expectations for a back-to-back October move climbing back...