Dollar is trading mildly lower today but remains the overwhelmingly strongest one for the week. The greenback was, on the one hand, pushed higher overnight thanks to the steep post ECB selloff in Euro. Dollar index hit as high as 91.63 and continued to build up the case of...
We've pointed out in the quick comment updates that there was no follow through buying in Euro despite the rebound attempt. That rebound was initially triggered by ECB President Mario Draghi's introductory statement that talked about the "solid and broad-based expansion" despite weaker than expected data. However, there was...
Euro recovers against Dollar after ECB president Mario Draghi tried to play down concerns over recent weak Eurozone data. But his usual cautiousness is so far capping Euro buying. On the other hand, Dollar's rally also loses some steam, in particular against Yen as 10 year yield dips back...
Dollar retreats mildly in Asian session today but remains the strongest one for the week. US 10 year yield finally took out 3% level overnight with some conviction. TNX hit as high as 3.035 before closing at 3.024, up 0.041. The development helped lifted Dollar Index above key near...
Dollar jumps again today as 10 year yield is having another attempt at 3% handle today. The greenback is trading above yesterday's high against all major currencies except Sterling. And for now, Yen is actually not the weakest one. Instead, commodity currencies and Swiss Franc are the worst performers....
Dollar traded mixed overnight as while 10 year yield breached 3% handle, there was no follow through selling in bonds that kept it above that level. On the other hand, the situation was complicated by the selloff in stocks due to earnings, which propelled Japanese Yen briefly higher. The...
Dollar engages in consolidative trading today as markets digest recent sharp gains. Also, as pointed out before, 10 year yield should a sign of hesitation ahead of 3%, and it might take a bit more time to overcome this level. While housing data is a focus in the US...
Dollar pares back some gains in Asian session today after yesterday's yield driven rally. 10 year yield hit as high as 2.990 during regular trading hour before closing at 2.973, up 0.022. However, that was below open at 2.975 and thus, showed a bit of hesitation ahead of 3%...
Dollar's broad based rally extends today with the support of surging US treasury yield. 10 year yield hit as high as 2.99% in premarket, and is flirting with 3% level. Meanwhile, Japanese yen are trading as the weakest one. Euro suffered some selling earlier today after mixed PMI data....
The financial markets are pretty quiet as another week starts. Despite positive news regarding Korean peninsula, major Asian indices are trading slightly lower. At the time of writing, Nikkei is down -0.28%, HK HSI is down -0.66%. In the currency markets, major pairs and crosses are bounded in Friday's...
Dollar ended broadly higher last week as boosted by surge in treasury yields. 10 year yield finally completed its consolidation that started back in February, and rose through 2.943 high to close strongly at 2.951. That came with the background that recent comments from Fed officials affirmed its gradual...
Dollar's broad based rally continues today and is showing sign of acceleration. In particular, while Euro has been rather resilient, EUR/USD is starting to be dragged down by others as it dips through 1.23. While there is still some way to go, focus is now back o 1.2214 support...
Dollar surged overnight as boosted by the strong rally in US treasury yield. 10 year yield gained 0.047 to close at 2.914, after hitting as high as 2.934. It's now close to a key resistance, February's high at 2.943. The greenback remains firm in Asian session. For the week,...
The major theme in the forex markets isn't too clear today. Sterling dips initially after retail sales missed expectation, but quickly recovered. Canadian dollar also pare back some of the post BoC decline, as lifted by strength in oil price. Australian Dollar gained earlier today but there is no...
Commodity currencies are trading broadly higher today as led by Australian Dollar. Strong rebound in the Chinese stock markets is seen as factor helping the Aussie, as SSE is gaining more than 1% at the time of writing. Canadian Dollar is also recovering some of yesterday's post-BoC loss. Sterling,...
Sterling is the biggest loser today after CPI missed market expectations. Most importantly, it's the steep trend of slow down in inflation, from 3% in January to 2.5% in March that raised doubts on a BoE May hike. The Pound stabilized a bit after initial selloff. For the moment,...
Markets sentiments turned positive as there were now continuous flow of bad news. All three of DOW, S&P 500 and NASDAQ closed higher overnight, with NASDAQ scoring the best performance. Technically, all three have taken out 55 day EMA decisively which suggests more near term upside. Nikkei follow and...
Sterling and Euro strengthened earlier today but both reversed earlier gains after disappointing economic data. On the other hand, Dollar is trying to make a come back as buying accelerates in early US session. It's more a coincidence than a response. But the greenback picks up momentum after US...
Sterling retreats mildly in Asian session today, against Dollar, Euro and Yen. But it remains the strongest one for the week. The breach of 1.4345 resistance in GBP/USD overnight signals medium term up trend resumption. But the rally slowed a little bit above there. For now, GBP/JPY is limited...
Dollar remains general weak in early US session after mixed economic data, in particular against European majors. The greenback does try to rebound against Australian Dollar and Canadian Dollar. But momentum is being capped. Yen also tried to rebound earlier today but quickly lost steam. Sterling is emerging as...