Market Overview
Euro Cheers EU Agreement on Migration, Yen Dives as Chinese Stocks Rebound
Euro surges broadly today as traders cheer the agreement by EU leaders on migration. Australian Dollar follows as the second strongest as Chinese stocks lead a strong rebound in Asian equities. At the time of writing the Shanghai composite is up 1.2%, Hong Kong HSI is up 1.15% while...
Sterling Downside Breakout Against Dollar and Euro, Risk Aversion Stays
Risk aversion continue to be a main theme in the markets, ahead of quarter end. At the time of writing, major European indices are trading in red. DAX leads again by losing -1.27%, CAC down -0.76% and FTSE down -0.44%. DOW futures also point to more losses. Oil prices...
Dollar Stays Strong after Roller Coaster Ride in Stocks
It was a roller coaster ride in US stocks overnight. The markets cheered Trump's backing down on the hard-line position on curbing Chinese investments in US companies. But White House economic advisor Larry Kudlow spoiled the party said the plan is neither harder nor softer. NASDAQ led the losses...
Dollar and Stocks Cheer as Trump Backs Down on Chinese Investments
Dollar ignores mixed economic data and surges broadly, except versus Canadian in early US session. Sentiments are generally lifted by news that Trump is backing down again on his tough stance on curbing Chinese investments, after backfires from businesses and Republicans. The mixed messages from White Houses are also...
Markets Getting Comfortably Numb on Trade Spats
The forex markets are generally in range today except New Zealand Dollar, which tumbles broadly following business confidence data. The US continued to step up its verbal attack on trade partners, but the financial markets are not too bothered about it. Asian indices are mixed with Nikkei trading nearly...
Forex Markets Staying Corrective Despite Trade Spat Escalations
The stock markets are rather steady today so far even though US continues with its tariff threats on other countries. At the time of writing, European indices are mixed with DAX nearly flat while CAC is up 0.2%. FTSE is indeed registering 0.5% again thanks to the slightly weaker...
Global Stocks Down as White House Sent Confusing Messages on Foreign Investment Curb, Yen Strong
Trade tension and protectionism remain the major theme in the financial markets. Following the selloff in US stocks, Asian indices are generally under pressure today. At the time of writing, Nikkei is trading down -0.52%, Hong Kong HSI is down -0.88%. China's Shanghai composite extends recent steep slide and...
Euro Lifted as German Ifo Marginally Beat Expectation, But Yen Still the Strongest on Trade Threats
Yen remains the strongest one for the day, as risk aversion dominates. Commodity currencies, Australia, New Zealand and Canadian Dollar remain the weakest. But some additional strength is seen in Euro as German Ifo business confidence came is not too badly. At the time of writing, FTSE and DAX...
Yen Rally Continues as Trade Spat Escalates
Yen trades broadly higher today, followed by Dollar and Swiss Franc as sentiments are weighed down by escalating trade rhetorics. Nikkei closed down by -0.79% at 22339.15, after hitting session low at 22312.79. China's Shanghai composite opened higher, as lifted by PBoC's RRR cut, but turned red soon after....
Swiss Franc and Yen Ended as Strongest, Worst of Trade War Yet to Come
The Swiss Franc and Japanese Yen ended last week as the strongest major currencies. Sentiments were hurt deeply by worries on global trade war. Over week, DOW lost -2.03%, S&P 500 lost -0.89%, DAX was down -3.31%, CAC dropped -2.08%, Nikkei lowered by -1.47%. China's Shanghai composite suffered most...
Euro Jumps on Solid PMI, Canadian Dollar Hammered by Retail Sales and CPI
Economic data and improving sentiments are the main drivers in the markets. Australian Dollar and New Zealand Dollar are so far the strongest ones today as European stocks rally. At this time of writing, FTSE is up 1.33%, DAX up 0.42% and CAC is up 0.97%. US futures also...
Sterling Rebound Short-Lived, Risk Aversion Regained Spotlight
The BoE triggered rebound in Sterling was relatively brief. Risk aversion quickly regained the spotlight in the markets. DOW extended its losing streak for the eight day and closed down -196.10 pts or -0.80% at 24461.70. S&P 500 and NASDAQ were down -0.63% and -0.88% respectively. Asian markets follow,...
Sterling Jumps as Chance of August BoE Hike Revived by Haldane
Sterling trades as the strongest one today as markets were surprised by the voting on BoE Bank Rate. With the highly respected Chief Economist Andrew Haldane voted for a hike, the chance of an August move in interest rate is heavily boosted. The statement also showed a lot of...
Sterling and Swiss Mixed ahead of BoE and SNB, Dollar Surges as Lifted by Yields
Dollar overtakes Yen as the strongest current for the week as buying merges today. Overnight's rebound in treasury yield gives the greenback a helping hand. 10 year yield gained 0.035 to close the regular session at 2.928 and it breached 2.95 in Asia. Gold also extends recent slump on...
Forex Markets Calmed in Range, Focus Turns to Central Bankers
The forex markets are relatively steady today as sentiments stabilized a bit. Yen and Sterling are so far the strongest ones today but for different reasons. The Japanese Yen is digesting this week's strong risk aversion move, and seller could gather much momentum. Meanwhile, Sterling trying to pare back...
Yen Retreats Mildly as Sentiments Stabilized, Sterling Weak ahead of BoE
Sentiments somewhat stabilized slightly in Asia as markets digest trade war triggered losses. China's Shanghai composite is losing -0.59% at the time of writing. But Nikkei and Hong Kong HSI are up 0.36% and 0.41% respectively. DOW lost -287.26 or -1.15% to close at 24700.21, but it has already...
Risk Aversion Dominates as Trade War Could Mean More than Tariffs
The financial markets are rocked by Trump's over-the-top escalation in trade spat with China. At the time of writing, FTSE is down -0.4%, DAX down -1.2% and CAC down -1.1%. Dow opens by dropping more than -300%. In the currency markets, Yen and Swiss Franc are the strongest ones...
Yen Continues to Shine as Trade Tension Escalates. AUD, NZD, CAD Suffer
Yen and Swiss Franc continue to dominate the market on risk aversion as trade tensions escalate. The US markets didn't perform too badly indeed. DOW closed just down -103.01 pts or -0.41% overnight at 24987.47. S&P was down -5.91 pts or -0.21%. NASDAQ even managed to gain 0.65 pts...
Swiss Franc and Yen Firmer on Mild Risk Aversion
Swiss Franc and Yen are trading as the strongest ones for today on mild risk aversion. A wave of buying is seen in Euro entering into US session. But for now, Euro is trading up against Dollar, Sterling and Aussie for the day only. Some attributes today's weakness in...
Yen Higher as Sentiments Weighed Down by Trade Tensions and Osaka Earthquake
Yen trades generally higher in Asian session today on mild risk aversion. Escalation of trade tension between US and China is a factor weighing on sentiments. The 6.1 earthquake in Osaka also pressures Japanese stocks. Nikkei is trading down -0.8% at the time of writing. Euro is broadly lower...