Market Overview
Dollar Softens on Negative Rate Talks, US-China Trade Deal Made Progress
Dollar turned weaker overnight as markets on talks that Fed could eventually go into negative interest rates. Safe haven flows also continued to recede in generally, with NASDAQ extending recent rebound, even though DOW's rally was still capped. Australian Dollar continues to surge higher, shrugging off RBA's economic projections....
Yen Dips on Higher Stocks and Oil, Dollar Shrugs Job Numbers
Risk sentiments seem to have firm up again today despite rather poor economic data. Major stock indices in Europe are in black while US futures point to higher open. WTI crude oil is also extending recent rebound, with June contract now above 26.2. Commodity currencies are generally higher as...
Sterling Recovers after BoE, Yen Paring Gains
Sterling recovers mildly today after BoE left monetary policy unchanged as widely expected. Two members voted for an increase in asset purchase but that was shrugged off by the markets. Though, Australian Dollar is even stronger for the moment. Yen weakens mildly together with Swiss Franc. But for the...
Dollar Firm Despite Historic ADP Job Loss, But Yen Stronger
Yen is staying as the strongest one today while the financial markets are generally mixed. Dollar is not too bothered by the ADP report which showed -20m private job losses. It's currently trading as the second strongest, followed by Australian. Sterling is currently the weakest ones with Euro, after...
Yen Surges Through Resistance Against Dollar and Euro
Yen is trading generally higher is Asian session and broke some near term resistance level. Risk sentiments are mixed in major Asian markets. While US stocks ended with gains overnight, the closes in major indices were indeed lower then opens. That's a signal of indecisiveness among the bulls. Commodity...
Euro Tumbles as German Court Judges ECB Bond Buying Partially Contravenes the Law
Euro tumbles broadly today, together with the Swiss Franc, after Germany's constitutional court has ruled that ECB's stimulus program is partly in conflict with the country's law. ECB has to prove that it's QE program isn't providing monetary financing to heavily indebted governments. The German government is also required...
Aussie Follows Stocks Higher, Steady after RBA
Australian Dollar strengthen mildly today following recovery in the stock markets. It remains steady after RBA left monetary policy unchanged as widely expected. Rally in oil price, with WTI crude oil up 6.5% at 21.7, is helping sentiments in general, as well as the Canadian Dollar. On the other...
Euro Weighed Down by Sentiment Indicators, Markets in Mild Risk-Off
US-China tension continues to be a major theme today, driving global stocks and US futures down. Developments are happening on many fronts. There will be proposed law changes to allow private entities to sue China for coronavirus damages. Investment of federal retirement funds in Chinese stocks could be blocked....
Markets in Defense on US-China Tensions, Dollar and Yen Higher
Yen and Dollar trade generally higher in Asian session today. Trading is relatively subdued with Japan and China on holiday. Yet, the theme of US-China tension drives some risk-off moves. May didn't start well as investors seemed to be rushing to reverse April's risk-on moves. As for today, New...
From Coronavirus Lockdown Exit to New US-China Tariff war
Economic data releases have probably never been that meaningless in history. Traders were not too concerned that the Q1, March or even April data were worse than terrible. Instead, hope of lockdown exit, at least partially, have lifted risk markets for the initial part of the week. Risks of...
May Starts in Risk Aversion, Yen and Franc Surge
Yen and Swiss Franc surge broadly today as risk aversion seems to be back as May starts. Warnings from Amazon and Apple are cited as the reason for the decline in US futures. On the other hand, Chinese is trading sharply lower on concerns that US President Donald Trump...
Aussie Turns Lower as Markets Reversing April’s Moves
Australian Dollar is leading commodity currencies broadly lower in Asian session today, as markets seem to be rushing to reverse April's moves. Euro has somewhat taken the lead overnight, pulling Swiss Franc higher too, after initial reactions to non-eventful ECB. Yen is also trading generally lower in relatively quiet...
Dollar Recovering as Risk Appetite Recedes, Euro Turns Softer after ECB
Risk appetite recedes mildly today as European indices turn negative after initial gain, dragging US futures lower too. Euro is originally rather unmoved by ECB's policy decision as well as press conference. But some weakness is seen at the time of writing. Traders seem to be betting more on...
Dollar Shrugs FOMC While Euro Awaits ECB and GDP
Commodity currencies remain the strongest one today as supported by risk appetite. Sentiments are lifted by expectations of lockdown exits as well as optimism on coronavirus treatment. Dollar remains generally weak with Fed providing little inspirations. Euro and Swiss Franc are not much better than the greenback. Euro's weakness...
Dollar Weakness Continues after GDP Contraction, FOMC Next
Dollar's weakness continues today as largest GDP contraction in more than a decade gives no help. A wave of selling is seen in Sterling in European session. Yet there was no sustainable momentum so far. Yen is follow as the third weakest on mild yet solid risk appetite. Commodity...
Aussie Extends Rally on Strong CPI, Weak Dollar Awaits Fed and GDP
Australian Dollar remains the strongest one for the week as stronger than expected CPI data prompted another round of buying in Asia. Other commodity currencies are also firm, but the Japanese Yen is not too far away. Dollar, on the other hand, is the worst performing one for the...
Dollar Under Broad Based Pressure on USD/JPY Downside Breakout
Dollar's broad based decline resumes today with the help from downside break out in USD/JPY. Risk sentiments are firm on reopening optimism, with generally rally in European indices. Swiss Franc is pressured as the third weakest, following Dollar and New Zealand Dollar. Yet, Yen is not too bothered and...
Asian Markets Turned Mixed With Falling Oil and Gold, Kiwi Weakest
Despite extended stock rally in the US overnight, Asian markets turned mixed. Renewed weakness in oil price is a factor weighing on sentiments, as WTI crude oil is down at 11 handle, threatening 10 handle again. Gold also dips below 1700 handle, as Dollar is trying to recover. For...
Stocks Lifted by Lockdown Exit Optimism, Dollar and Swiss Weaken
Dollar and Swiss Franc weaken broadly today on optimism that many countries are heading towards lockdown exit. New Zealanders will return to work on Tuesday as alert level is shifted down at midnight. Even Italy is talking about reopening factories and buildings sites from May 4. New York is...
Yen Mixed after BoJ’s Additional Easing, Aussie and Kiwi Strong
Yen is trading mixed after BoJ announced additional easing measures, following shortened monetary policy meeting. Australian and New Zealand Dollars are the strongest ones. Both countries have been performing extraordinarily well in containing the coronavirus spread and are planning for lockdown exits. On the other hand, Dollar and Swiss...