Market Overview
Euro Power Continues, Follow by Yen on Mild Risk-Off
Markets are in mild risk off mode before weekly close, awaiting US President Donald Trump's "interesting" and "powerful" measures on China. Though, this time, Euro is boosted as the strongest one, followed by Yen. Dollar and Swiss Franc are the weakest for today. Overall, Euro is staying as the...
Dollar Weakens, Stocks Turn Cautious, Awaiting Trump’s Announcement on China
Dollar remains generally weak in Asian session, with notable selloff against Yen too. Markets generally turned cautious as US President Donald Trump is set to announce his new China policies on Friday. This is in response to China's passing of national security law to forcibly impose on Hong Kong....
Dollar Mildly Lower after Poor Durable Orders, Euro Extending Gains
Dollar is trading a touch softer in early US session after poor durable goods orders. Euro, on the other hand, is trying to extend the EU stimulus triggered gains. Overall, movements in the forex markets today are relatively limited. Yen and the greenback remain the weakest for the week...
Asia Mixed With Eyes on US-China Tensions Over Hong Kong
Asian markets continued to ignore risk rally in US and trade mixed today. Sentiments are mildly weighed down by US-China tensions over Hong Kong. But reactions are so far limited. Euro and Dollar are mildly firmer in Asian session but major pairs and crosses are staying inside yesterday's range....
Euro Flies High on EU New Generation Recovery Plan
Euro surges broadly today as traders more than welcome the new EU pandemic recovery plan. Canadian Dollar is currently the second strongest while the greenback is the third. Strength in Euro appears to have prompted some selloff in Sterling as well as Australian Dollars. The Pound is somewhat weighed...
Dollar Recovers as Markets Turned Mixed, Awaiting Trump’s Very Powerful Response to China
The forex markets turned mixed today, together with major Asian indices. Dollar and Yen are trying to recover but there isn't any conviction in buying. Both remain the worst performing ones for the week so far. News regarding lockdown exits and coronavirus vaccines were generally welcomed. But investors are...
Coronavirus Vaccine News Boost Risk Appetite Again, Dollar in Free Fall
Risk appetite is back driving the global financial markets, after biotech company Novavax said it has started phase 1 human trials of coronavirus vaccine candidate. DOW future points to a breakout from recent rally for rally resumption. Dollar, Yen and Swiss Franc are decisively sold off across the board....
Sentiments Firm Up as Markets Left Hong Kong Tensions Behind, Comforted by PBoC Pledge
Asian markets strengthen generally as investors put Hong Kong tensions behind for the moment. Sentiments are also somewhat lifted as PBoC pledged to continue with targeted easing measures. Commodity currencies are generally higher as led by New Zealand Dollar for now. Yen and Dollar are the weakest ones, followed...
Sterling Mildly Higher in Holiday Markets, Gains Limited
The markets remain generally steady today, with UK and US markets on holiday. Sterling is mildly higher, followed by commodity currencies. On the other hand, Yen, Dollar and Euro are the relatively weaker ones. But after all, major pairs and crosses are stuck inside Friday's range. Investors would probably...
Euro Softer in Quiet Trading, Activity Might Stay Subdued Today
Asian markets are relatively mixed in quiet trading as another week starts. Hong Kong stocks dip mildly following Sunday's protests against the national security laws. But some optimism is seen in Japan with Nikkei's rise. Movements in the stock indices are limited anyway. Sterling is trading mildly higher, followed...
China’s Diplomatic Tensions Overshadow Global Coronavirus Pandemic Exit Optimism
While Dollar and Yen staged notable rebound towards the end of week, they still ended as the worst performing ones. On the other hand, commodity currencies were the best performers despite paring some of the gains. Markets were lifted by optimism that the world is moving closer to lockdown...
Dollar and Yen Firm But No Extra Risk Aversion Outside Hong Kong
Yen and Dollar remains the strongest ones for today while commodity currencies are weakest, led by Aussie. There was no follow through buying in Dollar and Yen beyond Asian session. The panic selloff in Hong Kong stocks didn't spillover to other markets and even US futures are pointing to...
Markets in Risk Aversion Over Hong Kong’s Future, Yen and Dollar Rebound
Yen and Dollar surge in Asian session today as markets are clouded by new uncertainty over Hong Kong's future. The situation carries significance firstly on the direction of US-China trade tension. Secondly, Hong Kong's international financial hub status could be in question, which would limit China's ability to raise...
Dollar Recovery Attempt Falters Quickly, Swiss Franc Dives Again
The financial markets are, generally speaking, a bit mixed today. European stocks are slightly in red while US futures are down. But losses are very limited. Bulls are still in overwhelming control. In the currency markets, Swiss Franc drops sharply as recent volatile trading continues. Dollar attempted for a...
Sterling Soft as Risk Rally Pauses, Focus Turns to PMIs
Dollar recovers mildly in Asian session, together with Yen, as stock rally takes a breather again. But both remains the worst performing over the week. Similarly, Australian and New Zealand Dollars also retreats mildly but remain the strongest one for the week. Investors are generally optimistic on return to...
Sterling Softens after UK Sold Bonds With Negative Yield
Sterling weakens mildly today after UK sold government bond with a negative yield for the first time ever. According to the Debt Management office, It auctioned GBP 3.75B of 3-year bonds at an average rate of -0.003%. Demand was weak too with bid-to-cover ratio at 2.15, lowest since March....
Dollar and Yen Soft, Awaiting Next Move in Risk Markets
While risk market retreats mildly, the developments in currency markets are unchanged. New Zealand and Australian Dollar remain the strongest one for now. In particular, Kiwi is lifted a bit further by RBNZ governor's comment that it doesn't want to go to negative rates for now. Aussie somewhat shrugs...
Euro Surges of Recovery Fund Hope, Yen Tumbles
Yen, Dollar and Swiss Franc remain generally weak today eventual risk rally starts to take a breather in European session. On the other hand, currency market have some what shifted from commodity currencies to Euro and Sterling. Euro is lifted by optimism on the Franco-German recovery fund plan. Sterling...
Sterling Soars on New UK Tariff Regime, Broad Based Risk Appetite Continues
Sterling surges notably today after UK announced new tariff regime after Brexit, allowing 60% of trade to be tariff free. In the background, markets are supported by solid risk appetite, on coronavirus vaccine optimism. New Zealand and Australian Dollar are both strong together with the Pound. On the other...
Investor Cheers Coronavirus Vaccine news, Risk On
Global stock markets surge sharply today on optimism that coronavirus vaccine research took another big step. New Zealand Dollar leads commodity currencies generally higher. On the other hand, Yen, Dollar and Swiss Franc are under broad based pressure. Gold also retreats notably back below 1750 in the risk-on markets....