Market Overview
Dollar Surges as FOMC Risks Cleared, on Asian Risk Aversion
Dollar surges broadly today partly because FOMC announcement and projections overnight removed the risk of extra dovishness. Also, Hong Kong led decline in Asian stocks is providing extra support to the greenback. Yen is following closely as the second strongest for now. On the other hand, New Zealand Dollar...
Yen Surges as Traders Look Forward to FOMC Projections
Yen rises broadly today as markets are awaiting Fed policy decision. The strength in Yen since last week seems to be related to inflation expectations. It first followed comments from an ECB official that the pandemic impact impact would eventually be demand dominate, and thus deflationary. Such view could...
Dollar Softens Mildly as Focus Turns to FOMC Statement and Projections
Dollar trades generally soft in Asian session but losses are so far limited. The greenback is actually still staying above last week's low against all but Yen and Kiwi. Major focus will turn to FOMC today and traders could finally commit to a direction, after getting Fed's new economic...
Yen Surges Broadly, Dollar and Euro Weak
Dollar trades broadly lower today but there seems to be no clear unified theme in the financial markets. Stocks are in risk-on mode, lifting the Australian Dollar. But Yen is also generally higher despite some mild recovery in treasury yields. Sterling's recovery is understandable as it's digesting some of...
Aussie Rallies as Chinese Data Gives Sentiment Additional Boost
Investors seemed to have put last week's selloff in stocks behind already. Asian markets, except Japan, trade generally higher following the rebound in the US overnight. Additional, upside surprises in data from China boost optimism that it's back on track for stronger rebound for the rest of the year....
Sterling Recovers Mildly ahead of an Eventful Week, Dollar Treads Water
Trading in the forex markets remain generally subdued for now. While US stocks are set for a rebound, currency traders are not to bothered with that. Sterling is so far the stronger one for today, as traders take profits on shorts, ahead of of the string of UK data,...
NZD Mildly Higher on Lockdown Exit, Yen Awaits Breakout
New Zealand Dollar trades generally higher in otherwise quiet markets today. The news of lockdown exit is lift sentiments on Kiwi, even though upside is relatively limited. Other major forex pairs and crosses are bounded inside Friday's range though. Trading could remain subdued due to a light calendar today....
No-Deal Brexit Could Push Sterling Back into Medium Term Down Trend
Sterling's selloff was the most decisive move last week. UK-EU negotiations seemed heading to a dead-end as UK published the so-called internal market bill, which violates part of the Brexit Withdrawal Agreement. WTO style of trade relationship after Brexit looks more likely than ever. Technical developments in Sterling pairs...
Markets Steady ahead of Weekend, USD Shrugs CPI
The markets are generally rather steady today, awaiting weekly close. Major European indices are mixed in tight range. US futures point to mildly higher open, arguing that yesterday's selloff might not extend for now. Commodity currencies are generally firmer today while Dollar and Yen are the weakest. Stronger than...
Euro Rebound Fades Quickly, Sterling Decline Continues
Sterling weakness remains the unified theme in the markets this week. The Pound remain under pressure in Asian session today while recovery attempt was brief and weak. As for the week, Canadian Dollar is currently the second weakest, in tandem with the sharp decline in oil price. Swiss Franc...
Euro Surges as ECB Gives No Red Light to Appreciation
Euro jumps notably as ECB insist that it doesn't target the exchange rate, despite recent appreciation, suggesting that they're still comfortable with the current level. The common currency also takes Swiss Franc higher with it. On the other hand, Sterling is left behind as European majors. The Pound suffers...
Euro Awaits ECB for Next Move, Sterling Weakness Persists
Sterling remains the weakest one for the week, without a doubt in the otherwise mixed forex markets. Overall risk sentiments stabilized with the overnight rebound in US stocks. Dollar has pared back much of this week's gains together with Yen. Euro is currently the stronger one for today, as...
Pound Selloff Continues, Risk Sentiments Stabilized
The Pound's selloff continues today as the UK government's so called internal market bill draws wide criticism, from EU to Scotland and Wales. Traders continue to off-load Sterling on no-deal Brexit risks. European markets, though, somewhat stabilized and recovered from yesterday's selloff. US stocks futures also point to recovery...
Euro Vulnerable Against Dollar and Yen as Risk Aversion Intensifies
Yen remains generally firm as Asian session as deep risk aversion carries forward from US markets. Concerns over coronavirus vaccine development was a major factor weighing on sentiments. Dollar turns softer, digesting yesterday's gains, but remains generally firm. Sterling continues to trade as the weakest one and selloff is...
Risk Aversion Comes Back on Tech Rout, No-Deal Brexit
Risk aversion is back in the markets today. On the one hand, US stocks are set to open sharply lower as they return from holiday. Tech rout is continuing with NASAQ futures down more than -3% at the time of writing. On the other hand, no-deal Brexit worries intensify...
Dollar Firm But No Breakthrough Yet, Except Versus Swiss Franc
Sterling remains generally weaker today, on Brexit concerns. But Swiss Franc is apparently worse for now, dropping through a near term support level against the greenback. On the other hand, Yen and Dollar stay firm in mixed Asian markets. Yen is not too troubled by data that showed deeper...
Pound Decline Accelerates on Brexit Risks, Yen and Dollar Firmer
Sterling's decline gathers some momentum on resurfacing no-deal Brexit risk. The Pound is currently followed by New Zealand Dollar as the second weakest. Canadian Dollar is the third worst performing so far, follow oil price lower. On the other hand, Yen and Dollar and trading firmer today, despite rebound...
Sterling Mildly Lower on Brexit, Dollar Eyes ECB For Next Move
Markets are rather quiet in Asian session today and trading could remain subdued ahead with US and Canada on holiday. Sterling is generally lower on Brexit news but losses are so far limited. Canadian Dollar is dragged down slightly by oil prices but it has been very resilient so...
Dollar Down Trend, Stocks Up Trend Still Intact after Roller-Coaster Ride
Markets experienced a roller-coaster ride in the first week of September. S&P 500 and NASDAQ extended record runs and it looked like DOW was on the way for a catch-up. Then technology stocks led a steep selloff towards the end of the week and pulled all indices sharply lower....
Dollar Rises after NFP, Gold Breaks Trend Line Support
Dollar rises against European majors an Yen as headline non-farm payrolls number came in not far from expectation. Encouragingly, unemployment rate dropped notably while participation rate also rose. Wage growth also some what picked up. DOW future also point to a mildly higher open. The greenback is set to...