Market Overview
Dollar Selloff Intensifies after Huge Miss of ADP Job Data
Dollar's selloff intensifies in early US session after ADP job report hugely missed expectations. The strong upward revision in prior month's figure just make the picture looks worse, exaggeration the steep slowdown in labor market rebound. At this point, Yen is following the greenback as then second weakest, then...
Dollar Tumbles as Gold and NASDAQ Hit New Records
Dollar is back in selloff mode again after rebound attempt failed. The broad based trend against the greenback is clear, with gold hitting new record high above 2000 handle. WTI crude oil is also back above 41, pressing 42 handle. Overall risk-on sentiments, with NADSAQ making new record high,...
Dollar Having Another Rebound Attempt, Sterling Pulls Back
Dollar is having another rally attempt today and appears to be making some progress, at least against the relatively weaker Sterling. At this point, Swiss Franc is the strongest one, followed by the greenback. Australian Dollar is also firm after a non-eventful RBA rate decision. On the other hand,...
Aussie Firmer after RBA, Dollar Rebound Fades
Dollar turns soft again after momentum for rebound faded quickly. Euro and Swiss Franc are back in control even though they're still generally range bound. Australian Dollar is following closely after RBA stands pat as widely expected. Recovery is still expected and the central didn't sound concerned with recent...
Dollar Extending Recovery, Turning Around the Corner
Dollar starts the month with a much firmer footing, trading broadly higher as the strongest one so far. The rally is particular against Swiss Franc, which is currently the weakest one. Yet the greenback will firstly need to overcome some near term technical levels to convince traders about its...
Trading Subdued in Cautious Mood, Dollar Still Finding Momentum for Rebound
Trading in forex markets is rather subdued today in overall mixed mood. Better than expected manufacturing data provides little lift to sentiments. Coronavirus curfew in Australia's Victoria state is also shrugged off. Instead, traders are generally cautious ahead of a very busy week. RBA and BoE will meeting while...
Yen, Dollar, Aussie, Gold and Stocks in Focuses in a Busy Week
Dollar's selloff extended last week, after rather uneventful Fed meeting. The decline was particularly serious against generally strong European majors. Sterling ended as the strongest one this time, followed by Euro and Swiss Franc. While the greenback was weak, New Zealand and Canadian Dollar were even worse, with the...
Dollar Recovers Mildly ahead of Monthly Close, CAD Lifted Slightly by GDP
Dollar recovers mildly as markets turned mixed ahead of monthly close, but remains the second weakest for the week. Canadian Dollar is currently still the worst performing, as dragged by oil selloff. But we'll see if better than expected GDP data could give the Loonie a lift before the...
Euro Power Continues ahead of GDP, Dollar Drags Further by Falling Yields
Dollar's broad based selloff continues in Asian session today. There are increasing concerns that momentum of US economic recovery is starting to falter. The pessimism is somewhat reflected in persistent decline in treasury yields too. Though, Canadian Dollar is even worse as pressured by sharp decline in oil prices....
Risk Sentiments Weaken on Record GDP Contractions, Canadian Follow Oil Lower
Commodity currencies are general under pressure today, following global stock markets lower. Record Q2 GDP contraction in Germany and US are weighing on sentiments. Rebound in jobless claims add to concern of double dip recession. US futures also tumble after President Donald Trump floats the idea of delaying 2020...
Yen Crosses Diverge, Dollar Tumbled after Uneventful FOMC
Dollar tumbled again overnight after the rather uneventful FOMC rate decision. But selling slowed a little bit in Asian session today. Nevertheless, the greenback remains the worst performer for the week. Commodity currencies are actually not performing well, with New Zealand and Canadian Dollar down against most for the...
Sterling Rises in Mixed Markets, Dollar Weak ahead of Fed
Sterling surges broadly in rather mixed markets today. Rebound in cross against Euro is seen as a major reason for the Pound's strength. Australian Dollar is following as the second strongest for now, partly listed by cross buying against New Zealand Dollar. Kiwi and Swiss Franc are, on the...
Dollar Soft Awaiting FOMC, Overall Movements Limited
Dollar remains generally weak today as recovery attempts faltered quickly. Though, selling remains centered against European majors and Yen. FOMC monetary policy decision is a focus today but it's unlikely to give the greenback any sustainable support. Overall, major pairs and crosses are bounded inside yesterday's range, though. Gold...
Yen and Franc Rise, Euro and Gold Dip in Consolidative Markets
Yen rises generally today, together with Swiss Franc, in rather subdued consolidative markets. Stocks are trading mildly lower but there is hardly any following selloff for now. Much volatility is seen in Gold and Silver, while retreat notably after initial spike. But both are contained above near term support...
Dollar in Recovery as Markets Digests Recent Losses, Weak Momentum Though
Dollar recovers mildly today as markets start to digest recent broad-based losses. Gold and silver are also in retreats after initial spikes. But the movements are so far rather limited. While some consolidations might be seen, there is no sign for sustainable rebound in the greenback yet. As of...
Euro Power Continues While Gold Extends Record Run
The powerful rallies in Euro and Gold remain the dominate theme for today as traders seems to be focusing on the worsening US-China relations as well as second wave of coronavirus infections in the US and Asia. Swiss franc tumbles sharply, as mainly pressured by the selloff against Euro...
Dollar Tumbles Further as Gold Hits Record, Coronavirus Weighs on Sentiments
Gold's up trend accelerates further and finally makes new record high today. That comes in a time when there are increasing evidence of second wave of coronavirus infections globally. Also, US-China relations deteriorate to a new low for decades. Dollar is extending recent selloff and is trading and the...
Euro Started Medium Term Up Trend With Break of Key Resistance Against Dollar
Euro ended as the strongest one last week as boosted by the agreement on the Next Generation EU recovery fund. It's seen as a landmark deal which would increase cohesion of the EU. The burden on ECB would also be dramatically eased with the fiscal support. Meanwhile, Eurozone PMI...
European Majors Supported By Strong PMIs, Risk Aversion Continues
Yen and Swiss Franc are trading as the strongest ones for today as stock markets are weighed down by escalating US-China tensions. Though, negative sentiments in Europe was partly offset by much stronger than expected Eurozone and UK PMIs. Signs of a V recovery are there even though the...
Risk-Off on Double Dip Worries and Intensifying US-China Tensions
The financial markets are generally in risk-off mode in Asia, following the selloff in US overnight. Worries over a double dip recession increased after initial jobless claims unexpectedly rose for the first time in nearly four months. Selloff was most serious in NASDAQ,, which closed down -2.29% just after...