Market Overview
Canadian Dollar Higher With Commodity Currencies, Euro Weakens
Commodity currencies continue to trade as the stronger ones entering into US session. In particular, Canadian is helped by extended rally in oil prices. New Zealand Dollar continues to receive support from better than expected job data. Overall sentiments are positive with European stocks staging a rebound, while US...
Kiwi Rebounds on Strong Job Data, Dollar and Yen Soften
Trading continues to be relatively subdued in the forex markets. US Treasury Janet Yellen's comments prompted selloff in stocks overnight. But reactions in currencies were just mild, with most pairs and crosses range bound. Strong job data from New Zealand is giving the Kiwi a lift, while Aussie is...
Dollar and Yen Extending Consolidations, Trading Mildly Higher
Dollar and Yen rebound notably today as consolidative trading continues, with help from mixed sentiments. European indices are mixed while US futures point to lower open. Major global trading yields are trading lower, with US 10-year yield below 1.6 handle. New Zealand Dollar is leading Australian Dollar lower, followed...
Australian Dollar Steady after RBA, Dollar Firmer in Consolidations
The forex markets are staying in consolidative mode this week so far. Aussie is steady in tight range after RBA stood pat as widely expected, even though GDP forecast was upgraded. Dollar is recovering again as the retreat overnight didn't last long. Canadian Dollar and Yen also trade with...
Markets Back in Risk on Mode, Dollar Softens Mildly
Markets seem to be back in mild risk on mode in Europe, shrugging off the selloff in Asia. US futures also point to higher open, as the record run could resume this week. The currency markets are relatively mixed. Yen is stabilizing into US session after earlier selloff. Dollar...
Yen Selloff Continues Despite Risk Aversion in Asia
The forex markets are relatively quiet in Asia, with Japan and China on holiday. Main theme is extended selloff in the Japanese Yen despite steep decline in Hong Kong and Singapore stocks. Aussie and Kiwi are the mildly firmer ones while Swiss Franc is softer. Also, a major talking...
Canadian Dollar Rally to Continue after a Strong Week, But Medium Term Strength Uncertain
Canadian Dollar ended last week as the strongest ones on a couple of factors. With some near term resistance taken out, such rally will likely continue for the near term. Swiss Franc ended as the second strongest. While Dollar was pressured for most of the week, it staged a...
Dollar Rebounds after Strong PCE Inflation, Euro Retreats on Mixed GDP
Dollar rebound in early US session after much stronger than expected PCE inflation data. Though, at this point, Canadian Dollar remains slightly firmer, as supported by GDP data. Yen is also recovering with mild retreat in German and Japan yields, as well as mild risk aversion. European majors are,...
Asian Markets in Mild Risk-Off Mode Despite Japan and China Data
The financial markets are trading with a mild risk-off tone in Asia today, despite the resilience in US overnight. Solid economic data from Japan and China provided little support to sentiment. The region is generally in deep worry over record coronavirus infections in India. As for the currency markets,...
Yen Dives as Global Yields Surge, Dollar Recovers Mildly after Data
Yen's selloff is a dominant theme in the markets today as major global treasury yields strengthen. In particular, Germany 10-year bund year is back at around -0.18, above -0.2 handle. US 10-year yield is trading at 1.675 at the time of writing, with a take on 1.7 handle before...
Dollar Selloff Resumes after Clearing FOMC Risk, Canadian Powers Up
Dollar's selloff resumed overnight after FOMC risk was cleared. Basically, Fed just reaffirmed it's stance that it's far from considering stimulus exits. Though, for the week so far, Yen is even weaker with strong rebound in global treasury yields. Euro is no far, follow Dollar as third weakest so...
Dollar Staying in Consolidations With Bearish Outlook, FOMC Next
The financial markets are generally steady today as traders are holding their bet ahead of FOMC announcement. US President Joe Biden is set to unveil a USD 1.8T package for family and education, but that's unlikely to trigger much reaction. New Zealand Dollar and Canadian Dollar are currently the...
Aussie Tumbles after CPI, Yen Falls as FOMC Awaited
Australian Dollar tumbles broadly in Asian session after weaker than expected CPI data. Sterling is following as the second weakest , and then New Zealand Dollar. Dollar firms up mildly as traders await FOMC rate decision, but the rebound is mainly centered against Yen and Aussie. Indeed, Yen was...
Swiss Franc Mildly Firmer in Subdued Trading
Trading in the financial markets is rather subdued today. Swiss Franc is the stronger one at the time of writing, followed by Dollar and Sterling. Commodity currencies, on the other hand, turn softer with Australian Dollar leading the retreat. But overall movements in the markets are limited. Gold and...
Canadian Dollar Jumps While Dollar Recovers, Yen Shrugs BoJ
While NASDAQ and S&P 500 closed at new records overnight, there is no follow through risk-on buying in Asian session. Investors are generally still cautious ahead of Fed meeting. Dollar recovers in general but upside momentum is very weak. Canadian is extending gains and is now leading other commodity...
Dollar Mixed after Durable Goods Miss, Aussie Leads Commodity Currencies Higher
Overall market sentiments are steady today. Commodity currencies are currently the strongest ones for today so far, as led by Aussie. Dollar is recovering despite weaker than expected durable goods orders. Euro turns after after slightly weaker than expected Germany Ifo business climate. Yen and other European majors are...
Dollar Selloff Extends as Focus Turns to Fed, BoJ, GDP and Inflation
Dollar's decline continues as another week starts as focus turns to Fed and BoJ, as well as a batch of important economic data. . European majors are also soft even though they managed to gain against the greenback. On the other hand, Australian and New Zealand Dollar are firmer...
Dollar’s Near Term Bearishness Persists, Other Currencies Mixed
Dollar ended as the worst performing one last week as near term bearishness persisted. Q1's rebound should have completed and the main question is whether it's ready for new lows. That is, indeed, in favor unless overall risk-off sentiments were choked off by some unexpected events.
The forex markets were...
Dollar in Fresh Selloff, Yen and Euro Strong
Fresh selloff in seen in Dollar as we enter into US session. Euro was lifted earlier today by strong PMIs. But it could be taken over by Yen before weekly close. Mild risk aversion in Europe is keeping Yen afloat. US futures are mixed at the time of writing,...
Yen Firm in Quiet Markets, Bitcoin Free Fall
While US stocks tumbled overnight, Asian markets are just mixed. Gold and oil are stuck in range too, while the bigger move is found in bitcoin. The forex markets are also generally staying in tight range. Yen is currently the strongest one for the week, followed by New Zealand...