Market Overview
Chinese Data Fail to Lift Sentiments, Markets Locked Down in Range
Markets are generally directionless in Asian session today. Strong rebound in China PMIs somewhat fails to lift sentiments. As the origin of the coronavirus pandemic, China could be the first country to come out of it. Yet, one month of data is insufficient to confirm recovery, as the world...
Dollar Recovers as Risk Sentiments Turn Soft, Still Early to Call Bottom
Global financial markets are generally quiet today. Stocks quickly pared back some of initial losses even though major indices are staying in red. US futures suggest that there is no clear direction for now. Dollar recovers generally and appears to be gathering momentum entering into US session. Yen, Swiss...
Asian Markets Lower as US Gives Up Easter Coronavirus Target, Yen Firmer
Asian markets open the week generally lower as there is no sign of even a slowdown in coronavirus pandemic. The US has also given up hope for returning to normal by Easter. Yen strengthens generally, followed by Dollar. Meanwhile, Sterling and Euro are giving up some gains. Movements in...
As Recovery in Stocks Lose Momentum, Could Dollar Strike Back?
While the coronavirus pandemic continued to worsen globally, investor sentiment somewhat stabilized after governments and central banks rushed to push out tighter lockdown measures, fiscal stimulus and monetary easing. Dollar suffered massive selling on easing risk aversion, improving funding conditions, as well as Fed's QE infinity. Canadian Dollar ended...
Markets in Profit Taking Retreat, Yen and Dollar Recovering Grounds
European stocks and US futures turn softer today, apparently on pre-weekend profit taking again. FTSE is additionally pressured, possibly as Prime Minister Boris Johnson was tested positive for coronavirus. In the currency markets, Yen regains some ground together with Swiss Franc and Dollar. Commodity currencies are mildly lower. However,...
US Coronavirus Infections and Stocks Surge, Dollar Weakens
Dollar is set to end the week as the week as the worst performing as corrections in the financial markets extend. Asian indices are generally higher following another day of strong close in the US overnight. Yen follows Dollar as the second weakest naturally as risk aversion eased. Meanwhile,...
Dollar Stays Soft after Shocking Jobless Claims, BoE Stands Pat
Dollar softens mildly again today as consolidation extends. The shock delivered by initial jobless claims is actually rather well expected. The greenback dips slightly after Fed chair Jerome Powell's comments, but that's it. BoE keep monetary policies unchanged at the scheduled meeting today, which also triggered little reactions. Yen...
Risk Rebound Fades as Focus Turns to Jobless Claims and BoE
Asian markets turn softer today as boost from US stimulus package fades very quickly. Focus will instead turn to BoE rate decision and US jobless claims. In particular, the latter would reveal how serious the initial impact of coronavirus outbreak in the US is. In the currency markets, commodity...
Markets Turned Mixed after Stimulus Rally, Dollar Staying in Consolidations
The stimulus deal in US Congress gave markets just a very brief lift. European indices turned mixed after initial rally while US futures are essentially flat. Trading in the currency markets is subdued too with Australian Dollar leading commodity currencies higher. Yen, Swiss Franc and Dollar remain soft. Gold...
Sentiments Boosted By US Stimulus Deal, Dollar, Yen and Swiss Soften
Asian markets generally strengthen today and are given another lift after US politicians finally agreed to a USD 2T coronavirus stimulus deal. Australian Dollar leads other commodity currencies higher. On the other hand, Yen weakens broadly, followed by Yen and then Dollar. Some important economic data will be released...
Markets Shrug Disastrous PMIs, Continue to Digest Recent Moves
PMI data released together generally showed a disastrous picture in the service sectors around the world, due to coronavirus pandemic and the measures to contain it. Nevertheless, these data are generally shrugged off as they're generally expected. Reactions would likely be muted too even if the data come in...
Dollar Softens on Fed QE Infinity, Global PMIs in Focus
While Fed's QE infinity gave no apparent boost to US stocks, Asian markets are responding rather positively. Strong gains are seen in major indices. Dollar has turned broadly weak, followed by Swiss Franc, Yen and Euro. Australian Dollar is leading commodity currencies higher. Gold also ride on greenback's pull...
Sentiments Take a U-Turn as Fed Goes QE Unlimited
Market sentiments take a u-turn today after Fed surprised the markets with another emergency announce. Now, the targets for asset purchases are removed and Fed is going into QE unlimited. US futures turned from limit down to positive while major European indices pared back much of earlier losses. The...
Risk Aversion Continues, RBNZ Cut, NZ & AU Lockdown, US to See Surge in Unemployment
Markets are back in risk averse mode as another week starts, after Spain and Italy suffered the worst days of coronavirus pandemic over the weekend. US Senate failed to advance another aid package on differences between Republican and Democrats. But resolution would be seen soon based on the severity...
Dollar in Strong Rally as Coronavirus Pandemic Worsened, Key Resistance Levels Broken
The anticipated market stabilization didn't happen last week. Instead, despite massive monetary and fiscal stimulus, stocks around the world still ended sharply lower. Nevertheless, as stocks are showing sign of loss of downside momentum. Treasury yield has somewhat stabilized in range. We'd see that the rock bottom in investor...
Markets Staying in Consolidation as Dollar and Yen Turn Mildly Softer
The financial markets are generally staying in consolidative mode today. Global stocks managed to reverse some of this week's loss. in the currency markets, Dollar pares back some of recent gains while commodity currencies recover. Though, these moves are generally seen as profit-taking and position adjust ahead of the...
Markets Digesting Wild Moves, Stabilizing ahead of Weekend
Asian markets are rather quiet finally as the weekend is coming. Currencies are digesting this week's sharp moves for now, with mild recovery seen in commodity currencies and Sterling. Dollar and Yen turn slightly softer. But for the week, the greenback remains strongest, followed by Yen and Swiss Franc....
ECB’s Stimulus Lifted Peripheral Bonds, But Not Stocks Nor Euro
ECB's massive coronavirus pandemic program do have notably impact on peripheral bond markets. In particulars, Italian and Spanish bond yields dropped sharply today, with Italy 10-year yield back below 1.9% currently, Spanish 10-year yield below 0.9%. The boost to other markets is not that apparent though, as European stocks...
No Support from ECB’s Pandemic Emergency Purchase, Nor RBA’s Rate Cut and Bond Buying
Once again, it seems that emergency fiscal and monetary measures by global governments and central banks couldn't be cared less by investors. US Congress' second stimulus package, ECB's massive EUR 750B pandemic emergency purchase program, RBA's rate cut and government bond buying, are all shrugged off. Optimism won't come...
Stimulus Effects Fade, Oil Tanks, Italian Yield Spikes Up
Neither fiscal nor monetary stimulus is able to provide sustainable support to market so far. Stock markets are back under pressure today despite the massive USD 1T stimulus proposal by the US. Additionally, sentiments are pressured by the sudden spike in Italian treasury yields, and break of a key...