Market Overview
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...
Aussie and Yen Ended as Strongest as Conoslidative Markets Remained Indecisive
The unimaginable negative oil price was the biggest head-liner last week. But the impact on other markets were relatively short lived. Canadian Dollar was much bothered for most of the week, but eventually it's just the second worst performing, following Sterling. On the other hand, Australian Dollar ended as...
Dollar Dips after Durable Goods Orders Contractions, Euro Pare Losses
The currency markets are relatively quiet today, with major pairs bounded inside yesterday's range. Dollar weakens after poor durable goods orders data, but New Zealand Dollar is even weaker. Euro recovers after yesterday's selloff, followed by Canadian Dollar ans Swiss Franc. For the week, Aussie is the strongest one,...
Euro Stays Weak in Mixed Markets, Canadian Attempting a Rebound
Euro and Swiss Franc remains broadly pressured today even though there is no follow through selling yet. But markets elsewhere are relatively mixed. While Australian and New Zealand Dollar attempted for a rebound, Dollar and Yen are not overwhelmed yet. Canadian Dollar is slightly stronger for now as oil...
Euro Downside Breakout after Terrible PMIs, Dollar Dragged by Jobless Claims
Euro suffers heavy selling in today on terrible PMI data, which suggests that the coronavirus pandemic damage could be far more severe than imaginable. The common currency drags down the Swiss Franc too. Dollar couldn't ride on Euro's weakness and even faces some selling after another set of astronomical...
Euro Awaits PMIs as Markets Need More Guidance
Directions in the markets are relatively unclear for now. US stocks closed higher overnight, but relatively close to opens. Asian markets are mixed with slight gains in Nikkei and HSI. WTI crude oil seems to be stabilizing above 10 handle after horror actions earlier. In the currency markets, Dollar...
Dollar Pares Gains as Oil and Stocks Recover, Yen Softens Too
Dollar pares back some of this week's gains as global risk markets recover. WTI crude oil June contract also trades higher and is back pressing 13 handle. Naturally, Yen follows the greenback as the second weakest for the day. On the other hand, Australian Dollar is the strongest, followed...
Dollar Firm on Risk Aversion, Oil Stays Pressured
Dollar and yen are staying in the driving seats for the week so far, on risk aversion. After the historic horrors of the May WTI oil contract, the markets are now into June contract, which is down at around 10. Asian markets are trading generally down, following the US....
Sterling and Commodity Currencies Pressured as Oil Rout Continues
Risk aversion stays in the markets today as WTI crude oil May future is back in negative territory above a brief stay above zero. Investors also turned cautious on news about critical health condition of North Korean leader Kim Jong-un. Yen and Dollar continue to trade as the strongest...
Negative Oil Price Prompts Risk Off, Dollar and Yen Jump
Markets are generally back in risk aversion, as selloff was sparked by historic move in oil prices. Yen and Dollar strengthen broadly as a result. Canadian dollar was weighed down slightly too but selloff is limited so far. Instead, New Zealand and Australian Dollars are the weakest for now....
Euro Mixed While Risk Markets Dragged By Oil Price, No Clear Direction For Now
Markets are in mild risk averse mode as oil price tanks further. But losses are limited so far based on recent standard. Major currency pairs and crosses are also stuck in Friday's range, except that New Zealand Dollar is lifted by lockdown exit. Canadian Dollar is the weakest one...
Nikkei and Yen Lower as Japan’s Export Hit Hard by Coronavirus
Markets are rather quiet in Asia today. Nikkei is pressured after poor trade data from Japan. But movements in other major Asian centers are muted. New Zealand Dollar appears to be lifted by the country's plan to exit top level lockdown. Dollar is currently the second strongest. On the...
Yen Ended Higher, Dollar Mixed, Despite Risk Rally
Global stock markets were some what supported by talks of staged exit of coronavirus lockdown. There was optimism that finally a cure for the virus too. Nevertheless, the extended rebound in stocks were not much reflected in the currency markets. Yen ended the week as the strongest one, followed...
Markets to End on a High Note? Yen and Oil Might Not Agree
Global markets are set to end the week on a high note. There is optimism that Gilead's coronavirus drug remdesivir could be the cure for the coronavirus. Also, traders responded positively to US President Donald Trump's three-stage reopening plan. Commodity currencies are trading generally higher today. Dollar, Euro and...
Staged Lockdown Exit and March Chinese Data Lift Sentiments, Dollar Softens
Dollar weakens mildly again as risk appetite is lifted by the three-stage plan to exit lockdown in the US. While Q1 GDP contraction in China was deeper than expected, March data also provided some optimism of return to normal. As Asian markets rebound, Yen and Swiss Franc are following...
Dollar Shrugs Poor US Data, Euro Vulnerable to Another Selloff
Global stock markets are mildly firmer in consolidative mode today, with slight gains in major European sessions. Poor US economic data triggered little reactions. Dollar's rebound attempt is somewhat stuck below yesterday's high for now, while Canadian Dollar is recovering. For now, New Zealand Dollar is the weakest one...
Dollar Rebound Lacks Conviction Yet, Aussie Shrugs Job Data
Dollar stays broadly firm in Asian sessions after the recovery overnight. There were signs of bottoming in the greenback but the rally remains unconvincing with no follow through buying yet. Australian and New Zealand Dollars are currently the weaker ones. Better than expected job data is giving little support...
Dollar Rebounds Further on Oil Weakness and Poor US Data
Dollar is striking back today as market turns into risk averse mode, in particular after poor US economic data. Mild weakness in oil price is also weighing down on sentiments. For now, the greenback is the strongest one, followed by Yen and Swiss Franc. Australian Dollar is leading commodity...
Yen Leads Dollar Higher as Risk Rebound Lost Steam
Dollar and Yen recover mildly today as risk appetite somewhat lost steam again. Australian and New Zealand Dollar turn softer. The pattern of risk-on risk-off is rather common in corrective markets. There are signs of improvements regarding the coronavirus pandemic. But with over 2 millions accumulated infections and 126k...
European Majors Rise on Partial Lockdown Exit, Dollar Decline Continues
Dollar's decline continues today on improving risk sentiments. In particular, it's back under pressure against Euro and Swiss Franc despite earlier recovery attempt. Canadian Dollar is not far away with drag from weakening oil price. On the other hand, European majors are generally stronger today, partly with help from...