Market Overview
Asian Markets Surge With Strong Risk Appetite, Yen Under Heavy Selling
Asian markets are trading in strong risk-on mode today, with particular strength seen in Hong Kong. DOW future is also currently up 150 pts, as markets look forward to US Treasury nominee Janet Yellen's confirmation hearing. Yen is back under heavy selling pressure, followed by Dollar and Swiss Franc....
Commodity Currencies Stay Generally Weak While Euro Could Stabilize Temporarily
Commodity currencies remain generally weak today on mixed market sentiments. On the other hand, Yen, Swiss Franc and Dollar are the strongest. Euro remains soft too, but recovery in crosses, in particular against Sterling, is limiting its downside for the moment. Gold also stabilizes back in prior range after...
EUR/USD Pressing 1.2 Key Support as Dollar Lifted by Yellen
Dollar opens the week generally higher, as supported by comments from former Fed chair Janet Yellen. Though, at this point, Yen mildly stronger while Swiss Franc is also firm. The triple argues that there is some underlying cautiousness in investor sentiments, despite solid Q4 China data. That's also reflected...
Dollar and Yen in Driving Seat While Other Markets Turned Mixed
Sterling ended the week as the best performing one. But the late selloff, and rejection by resistance against Dollar and Yen, suggest that the latter too were in the driving seat. Weakness was apparently see in Euro, New Zealand Dollar, and to a lesser extent Australian. Dollar could be...
Yen and Swiss Franc Rise as Sentiments Weighed Down by Weak Data
Yen and Swiss Franc are trading stronger together with Dollar today, as stock markets are pulling back slightly. On the other hand, New Zealand Dollar is leading other commodity currencies lower. US President-elect Joe Biden's new spending package was generally ignored by investors. Instead, worse than expected US data...
Euro Stays Weak, More Downside Before Weekly Close
The forex markets are generally staying in tight range in Asian session today. Dollar is mildly higher even though Fed chair Jerome Powell further talked down stimulus removal. Yen is also strengthening while commodity currencies turn slightly softer. For the week, Sterling remains the strongest one, followed by Canadian....
Euro’s Decline Continues as Italy Yields Jump, Dollar and Yen Mixed
Euro's broad based decline continues today, dragging down the Swiss Franc, and to a lesser extent Sterling too. Italy bench yield jumps sharply on increasing risk of fresh elections in the summer. On the other hand, commodity currencies continue to be strong, as supported by overall solid risk sentiments....
Euro Falls Against Commodity Currencies, Dollar Mixed Despite Pull Back in Yields
Selloff in Euro against commodity currencies appear to be a main theme today, in otherwise mixed markets. Dollar seems not too bothered by the pull back in treasury yields overnight and stays generally inside last week's range. Sterling is struggling to extend gain despite staying as the strongest one...
Sterling Strong in Mixed Markets, Dollar Stabilizes
Sterling strength continues today, in the otherwise mixed markets. UK Prime Minister Boris Johnson told the parliament that restrictions measures are already "starting to have an effect in many parts of the country". Canadian Dollar is following as second strongest for today, lifted slightly by upside acceleration in oil...
Dollar Reversed as Fed Officials Talk Down Tapering, Sterling Strong
Dollar dropped notably overnight and stays weak in Asian session. Some Fed officials toned down the talk of tapering the asset purchase program, or any monetary stimulus removal. Sterling, on the other hand, is extending this week's rally, after BoE talked down negative interest rates. The forex markets are...
Sterling Rises on BoE Comments, Dollar Lost Momentum
Sterling surges broadly today after BoE Governor criticized that negative interest rates have a lot of issues. Commodity currencies are currently the next strongest, reversing some of this week's pull back. On the other hand, Dollar is now the weakest one for the day, as the near term recovery...
Dollar Firm on Upbeat Fedspeaks, at a Near Term Juncture
Dollar remains firm after some Fed officials' upbeat talks about the second half but buying appears to be slowing slightly in Asian session. Gold is also setting in range for now, reflecting some hesitation to push the greenback further higher. Yen and commodity currencies turned mixed, together with the...
Dollar Rises Further, Gold Recovers, Stocks Pare Recent Gains
Dollar's rebound extends further today and remains firm entering into US session. Yen is following as the second strongest. Markets are paring back recent strong risk-on sentiment, on concern of near term deterioration in coronavirus spread and lockdowns. Commodity currencies are generally weakest for now, as led by Australian...
Dollar Continues to Rebound, Coronavirus Worries Might be Coming Back
Dollar trades generally higher today as rebound continues. Yen and Swiss Franc are following as the next strongest so far. Commodity currencies are generally lower as led by Australian Dollar. The picture might imply risk aversion but there is no clear selloff in Asian markets. At the time of...
Dollar Relatively Resilient in Strong Risk-on Market, Setting the Base for a Rebound?
Global investors were all in risk seeking mode in the first full week of 2021. That came despite all the headlines of surges in coronavirus infection and death, return to strict lockdowns, chaos in Washington and Joe Biden's certification as US President-Elect. Dollar didn't perform too well but there...
Dollar Weakens Against on Job Contraction, Downside Limited So Far
Dollar appears to be turning weaker again after non-farm payroll report showed the first contraction since April. Euro is currently following as second weakest for the than, than Canadian, which was also weighed down by employment data. On the other hand, Sterling is starting to reverse some of this...
Dollar Recovers Despite Strong Risk-on Markets, More Rebound after NFP?
Asian markets are staying in full risk on mode, except China, following the record runs in US overnight. However, this time, Dollar is not facing much selling pressure, but recovered instead. The reflation trade and strong rally in treasury yield might finally start to give the greenback a floor....
Dollar Recovering But No Follow Through Buying Seen Yet
Dollar extends recovery in European but there appears to be no follow through buying so far. It remains one of the weakest for the week, together with Yen and Sterling. Australian and New Zealand Dollars are paring some of this week's gains too. The US Senate and House certified...
Dollar Down Trend Continues as DOW Hit Record, Yen Weaker on Yields
Dollar is recovering mildly today but remains one of the weakest for the week, together with Yen and Sterling. Solid risk appetite, with DOW closing strongly at new record overnight, is keeping the greenback and Yen pressured. Yen appears to be slightly weaker with the sharp rally in treasury...
Focus Turns to Yen Selling as Treasury Yields Surge
Yen selling takes center stage today, following strong rise in global treasury yields. In particular, US 10-year yield is trading at 0.99 at the time of writing, after hitting 1.037 earlier. Dollar remains generally pressured, and even the recovery against Yen is weak. The surprised contraction in ADP employment...