Market Overview
Euro Firm after ECB, Dollar Slightly Lower after Poor Jobless Claims
Both Euro and Swiss Franc are generally firm today after ECB and SNB rate decisions, as not much reactions are being triggered. Though, as for today, Australian Dollar is the strongest one so far. Sterling, on the other hand, pares back some of recent gains as traders lighten up...
Dollar Dives as Fed Might Not Hike Until after 2022, ECB and SNB Next
Dollar was sold off deeply overnight after Fed left interest rate unchanged. Most importantly, Fed chair Jerome Powell indicated that there is no need for any rate hike unless inflation materially surprises on the upside. Considering that Fed projects inflation to be around target through 2022, interest rate might...
Dollar Shrugs Higher Than Expected CPI, Awaits FOMC
Dollar shrugs off slightly better than expected consumer inflation data and weakens mildly in early US session. But loss is limited as focus turns to FOMC rate decision, statement and new economic projections. At this point, European majors are generally weak as markets also look forward to tomorrow's UK...
Sterling Retreats on Last YouGov Poll, Dollar Await CPI and Fed
Sterling trades generally lower today after latest YouGov polls showed there is still possibility of a hung parliament after Thursday's election. Though, loss is relatively limited as a Conservative majority remains the base case. For now, focus will firstly turn to FOMC rate decision and economic projections. As Fed...
Markets Staying in Risk Off Mode Despite News of US-China Tariffs Delay
Global stock markets are generally under pressure today. There is some lift from a WSJ report that US and China are laying the ground work for a delay in December 15 tranche of tariffs But the recovery in sentiment is so far limited. In the currency markets, Australian and...
Markets Staying in Tight Range as UK GDP and German ZEW Awaited
Trading in the forex markets remain quiet in Asian session today, with major pairs and crosses staying in yesterday's range. Canadian Dollar is lifted mildly by positive news regarding USMCA, but gains are so far limited. New Zealand Dollar is, for now, the strongest one, followed by Sterling. On...
Euro Rises Mildly as Investor Confidence Improved, Overall Markets Quiet
Markets continue to trade in rather subdued manner today, awaiting the key events ahead, including three central bank meetings, trade deal and UK elections. Meanwhile, Euro is trading generally higher, slightly, as supported by improvement in investor confidence. Sterling is also firm but fails to extend earlier gains. On...
Sterling Rises as Conservative Extends Lead ahead of Elections
Sterling strengthen broadly in relatively quiet markets today. Ahead of Thursday's election, Conservative's lead over Labour jumped back to 14pts according to a latest poll. Traders continue to be optimistic on a Conservative majority to finally rectify the EU withdrawal agreement for Brexit. While US stocks jumped sharply on...
Trade War, Election, Fed and ECB in a Week of Guaranteed Volatility
It was a rough ride in the financial markets last week. Stocks were initially pressured in concerns over US-China trade negotiations. US President Donald Trump threw the idea that waiting until after 2020 election before closing the phase one deal. Sentiments were additionally weighed down by a string of...
Dollar Jumps on Strong Job Growth, Loonie Pressured after Employment Data
Dollar rebounds broadly in early US session after positive surprise in job data. However, upside is relatively limited at the time of writing, capped by disappointing wage growth. For now the greenback remains the weakest one for the week. Canadian Dollar's fortune reversed after much worse than expected employment...
Dollar Staying Pressured, Looking Non-Farm Payrolls for Savior
Dollar remains the weakest one for the week as markets head towards weekly close. The greenback was weighed down by a string of weaker than expected economic data. Additionally, as December 15 natural deadline looms, it's still uncertain whether US and China could complete the phase one trade deal...
Canadian Dollar Jumps Again on BoC Lane’s Comments, Sterling Also Firm
Canadian Dollar surges broadly again today as a top BoC official's comment further dismiss the chance of rate cut. Sterling is following as the second strongest on election and Brexit optimism. On the other hand Australia Dollar is the weakest on as weighed down by poor retail sales data,...
Dollar Sinks on Poor Data and Trade Uncertainty
Dollar was sold off deeply this week on a string of weaker than expected economic data, as well as uncertainty over US-China trade deal. ISM indices and ADP private jobs all disappointed and the greenback's hope now cling on Friday's non-farm payrolls. There are conflicting reports regarding US-China trade...
Dollar Dives after ADP Job Miss, Sterling Shines
Dollar is under much selling pressure after another data miss in ADP employment. Markets are starting to worry that slowdown in the USA economy is not over. Road ahead could be even more bumpy with persistent trade risks. Bloomberg reported that US and China are still close to the...
Markets in Risk Aversion on US-China Tensions, Yen Jumps Broadly
Markets turn into deep risk averse mode on concerns over US-China relations. . It's not getting more unlikely that the phase one trade deal would be agreed in time to avert tariff escalation on December 15. Political tensions also intensified after House passed the the Uighur Act, just a...
Stocks and Dollar Plummet as Trump Say China Trade Deal May Drag On
US stocks futures and Dollar tumble broadly today after US President Trump indicated that he has no deadline for China trade deal, and could even wait until after 2020 election to make it. If the phase one deal is dragged on, through December 15 "natural deadline", new round of...
Dollar Tumbles on Poor Data and Tariff Threats, Risking More Downside
The US markets were sold off deeply overnight after after poor ISM manufacturing data and renewed tariff threats. Dollar also suffered deep selling pressure, together with Canadian. Though, there was no clear fund flows into the Japanese Yen, as risk aversion was countered by surge in major treasury yields....
Dollar Tumbles after Trump Restore Steel Tariffs on Brazil and Argentina
Market sentiments are generally weighed down by renewed trade concerns after US President Donald Trump's decision to restore steel and aluminum tariffs on Brazil and Argentina. Additionally, China formally started some form of retaliation against US on its support on Hong Kong's democracy movement. Dollar is trading broadly lower...
Yen Lower as Markets Cheer China Manufacturing Data
Yen trades broadly lower while Australian and New Zealand Dollars strengthen in Asia. Stock markets are cheering better than expected manufacturing data from China. Nikkei leads the way higher but gains in Hong Kong and Shanghai are limited. Yen is also additionally pressured by extended rebound in JGB yields....
Sterling Jumped on Election and Brexit Hopes, US Stocks Hit Records ahead of Important December
Sterling ended as the strongest one last week as it looks like Conservative is set to have a majority win in the upcoming elections. If materialized, UK is finally heading for an orderly Brexit next January, clearing all uncertainties. On the other hand, Japanese Yen was the weakest one,...