Market Overview
Dollar Marches On With NATO Showdown and US-China Trade War
Global stocks tumble as US escalated the trade war with China again today, moving on to the process to impose tariffs on additional USD 200B of Chinese goods. On the other hand, Trump is fighting allies of the US in NATO summit in Brussels. At the time of writing,...
Yen and Dollar Surge as US Moves on with Tariffs on $200B in Chinese Imports
Yen and Dollar are both strong as the US announced to move on with 10% tariffs on another USD 200B in Chinese imports. That could come into effect as soon as in September. Asian Markets are broadly in red. At the time of writing, China Shanghai SSE is down...
Dollar Rallies as Euro Pressured by German ZEW Miss, Yen Lower on Risk Appetite
Dollar strengthens broadly today, partly with help from Euro's post data weakness. Much weaker than expected German ZEW economic sentiment is giving some pressure to the common currency. On the other hand, USD/JPY surges through 111.13 temporary top and is now taking on 111.39 key near term resistance. Yen's...
Sterling Stabilized after Wild Ride, Strong Risk Appetite Continues to Pressure Yen
Strong risk appetite is keeping the Japanese Yen broadly weak this week. DOW jumped as impressive 302.11 pts or 1.31% to close at 24776.59, turned positive for 2018. S&P 500 followed by rising 24.35 pts or 0.88% to 2784.17. NASDAQ gained 67.81 pts or 0.88% to 7756.20 and is...
Sterling’s Fortune Reversed after Boris Johnson Resignation
While the reaction to former Brexit Minister David Davis was largely muted, the situation seemed to change drastically after adding former Foreign Minister Boris Johnson. Prime Minister Theresa May wanted to provide certainty to UK businesses with her locked up meeting in the Chequers with cabinet last Friday on...
Sterling Strengthens Broadly as Davis Resignation is Seen as Good For Soft Brexit
Quick update: Sterling drops notably after Foreign Minister Boris Johnson finally resigns. judging from the current price action, Boris's resignation seems to be taken more seriously by the markets than Davis's.
The global stock markets are in positive mood today. Major European indices open higher, following the strengthen in Asian...
Sterling Volatile on Brexit Jitters, Yen Lower as Chinese Stocks Lead Asian Rebound
Yen trades broadly lower today, followed by Dollar, as Asian markets recovered broadly. China's Shanghai SSE composite leads the way by gaining 1.9% and breaches 2800 handle. It looks like some solid support was obtained between 2016 low at 2638 and 2700 psychological. Current momentum warrants a near term...
US, European and Asian Markets Reacted Differently to Start of US-China Trade War
The global markets reacted rather differently as the US-China trade war formally started while there were only signs of further escalations. Over the week, NASDAQ was a star performer and rose 2.37% to 7510.30. S&P 500 rose in tandem by 1.52% to 2759.82. DOW lagged behind but also managed...
Dollar Pullback Resumes as NFP Risks Cleared
Dollar trades notably lower in early US session despite stronger than expected headline NFP number. The rise in unemployment rate and slower than expected wage growth could be the factors. But it's more likely just continuing this week's pull back after NFP risk is cleared. Yen is following as...
Asian Markets Down as US-China Trade War Formally Starts, Dollar Recovers ahead of NFP
Asian markets are trading broadly lower today as the US is set to start the Section 301 tariffs on Chinese imports, and the latter's retaliation is also ready. This would mark an important turning point as the risks of trade war is finally realized. China's Shanghai SSE breached 2700...
Euro Rises Broadly on Hope of Averting US-EU Trade War on Cars
Euro surges broadly today on hope that there will finally be a point of convergence between European Union and the US to avoid a trade war on cars. The optimism is also reflected in stocks as automaker shares led DAX higher, which is up 1.44% at the time of...
Yen Slightly Higher as Markets Stay in Consolidative Mode
Yen is trading slightly higher in Asian session today as the markets are quietly soft. Australian Dollar and Canadian Dollar are the weakest ones. At the time of writing, Nikkei is down -1.0%, HK HSI is down -0.9% while China SSE is down -0.9% too. Some attention will be...
Sterling Jumps after PMI Hat Tricks, Gains Limited in Subdued Market
Activity in the financial markets are relatively muted today with the US on holiday. European indices are mixed in tight range with FTSE dropped -0.2%, DAX down -0.3%, CAC up 0.1% at the time of writing. In the currency markets, Sterling is lifted but a hat-trick of stronger than...
Dollar Broadly in Red ahead of Holiday, Risk Aversion Continues
Investor sentiments remain generally pessimistic. US stocks attempted for rebound in shortened session overnight but failed. DOW ended losing -132.36 pts or -0.54%. S&P 500 dropped -0.49% while NASDAQ declined -0.86%. Safe haven flows limited treasuries with 10 year yield dropped -0.028 to 2.838. Selloff continues in Asia with...
Dollar Pare Gains as Worries on Germany and China Eased
Dollar trades broadly lower today, followed by Swiss Franc and Japanese Yen, as risk aversion eased. News that Germany Chancellor Angela Merkel averted an immediate political crisis is sentiment supporting. But that impact could be mainly confined to Germany or Europe. The more broad based support come from the...
Yen and Dollar Strong on Asian Market Rout, Aussie Steady after RBA
After initial selloff, the US markets staged an impressive rebound overnight. DOW hit as low as 24077.56 but reversed to close at 24307.18, up 0.15%. S&P 500 gained 0.31% while NASDAQ rose 0.76%. However, investor sentiments turned sour again in Asian session as China leads decline again. At the...
Dollar Stays Strong as Sentiment Turns Sour Again on Trump’s Trade Spats
Risk aversions dominate the markets today starting from China, spreading to Asia and Europe. Escalation of trade tensions is the main driving force as the Section 301 tariffs and China's retaliation are set to come to effect this week on July 6. After his threat to impose auto tariffs,...
Dollar Regains Ground as Markets Prepare for an Eventful Week
Dollar strengthens broadly in Asian session, followed by New Zealand Dollar and Japanese yen. On the other hand, Australian Dollar is the weakest, followed by Canadian Dollar and the Euro. But after all, major pairs and crosses are bounded in Friday's range. Movements are so far very limited. Weakness...
Dollar Rally Halts after a Solid Quarter, Stays Bullish on Trade Tensions
Canadian Dollar ended last week as the strongest one. Strength in oil price, with WTI hitting four-year high was a factor. Solid Canadian GDP and Business Outlook Survey also support a July BoC hike. Euro followed as the second strongest as markets cheered EU agreement on migration during the...
Euro to End the Month on a Strong Note, Inflation Data Couldn’t Help Dollar
Euro continues to trade as the strongest one for today as boosted by the EU leader's agreement on immigration. While the common hasn't been the star this month, it's indeed up against all but Dollar. European stocks investors are also happy with the result. At the time of writing,...