Market Overview
Swiss Franc Jumps While Risk Aversion Eased
Risk aversion seems to have eased a bit today, with recoveries seen in European markets and US futures. Yen and Dollar have both turned into sideway consolidations. But no clear support is seen in Aussie and New Zealand, as both remain under pressured. Meanwhile, Swiss Franc and Canadian Dollar...
Sentiments Stabilized after Selloff, Downside Prospect for Weak Sterling
Risk sentiment appears to have stabilized in Asia a bit. The steep fall in Nikkei was just a post-holiday catch up. Yen and Swiss Franc are digesting gains but remain the strongest for the week. Sterling is indeed the worst performing so far, worse than even commodity currencies. Selling...
Yen Accelerates Further as China Fear Spreads, Dow to Press Key Support
Markets are generally in deep risk-off mode today, as China property fears spread from Hong Kong stocks to European to US. Yen remains the strongest one as rally extends, which Swiss Franc is trying to catch up. Dollar is is losing some ground but stays much better than others....
Yen Surges as Hong Kong Stocks Accelerate Free Fall
Yen jumps broadly in Asian session today as Hong Kong stocks are accelerating its free fall. Dollar is following as the second strongest for now, and then Swiss Franc. Commodity currencies are naturally the weakest, as led by Australian Dollar, but Sterling is not too far away. Four central...
Dollar and Yen the Runaway Leader on Increasing Risk of Correction in Stocks
Dollar and Yen were the runaway leaders in the forex markets last week. While Fed is not quite likely to announce tapering this week, recent solid data argues that November would finally be the date. Stocks in US and Europe have been losing much upside momentum as central banks...
Swiss Franc and Yen Under Some Selling Pressure ahead of Weekly Close
Swiss Franc and Yen are both under some selling pressure today, following rallying major global treasury yields. Sterling is weighed down by weak retail sales while Euro is not too far away. Dollar is mixed and Canadian and Aussie are the relatively stronger ones. The economic calendar is light...
Sterling Dips after Retail Sales, Yen Reversing Gains in Quiet Markets
Overall markets are relatively quiet today so far. Yen continues to reverse this week's gain as risk sentiment appear to have stabilized. Dollar also softens while Sterling dips mildly after poor retail sales data. On the other hand, commodity currencies are recovering, as lead by Canadian, which is then...
Dollar Surges on Unexpected Strong Rise in Retail Sales
Dollar jumps sharply in after data shows strong rise in retail sales, versus expectation of a decline. The data also raises optimism that it's just the start of resurgence in consumer demand, as the world is exiting the pandemic with fast vaccinations. Canadian Dollar is following closely as the...
Yen Stays Firm on Risk Aversion in Asia, But Dollar Holding on to Support
Yen is trading generally firm today as risk sentiment in Asia is decoupling from that of the US. Nikkei is so far rather resiliently holding above 30k handle, despite slight retreat. But Hong Kong HSI is having another day of heavy selling, breaking to a new low for the...
USD/JPY Presses 109.1 Support as Yen Rally Continues, Strong UK and Canada CPI
Rally in Yen and Swiss Franc dominated trading for most of the day, and it stays firm in early US session. Nevertheless, as sentiment of US traders are not too pessimistic, buying in both slows a little bit. On the other hand, Australia, New Zealand and US Dollars are...
Yen Rising as Sentiment Weighed Down by Poor China Retail Sales
The impact of slowing in US inflation was rather short-lived as major indexes turned red after initial rise. Sentiment is further weighed down by poor retail sales data from China. Yen notably overnight on mild risk-off sentiment while Dollar also regained some ground. On the other hand, Australian and...
Dollar Declines on Slowing Inflation, Sterling Upside Breakout
Dollar drops broadly after data shows declining headline consumer inflation in the US, and even quicker fall in core CPI. It's adding to the Fed's case that prior surge in inflation was just transitory. DOW futures responde rather positively to the news. Strengthening risk appetite could put Yen under...
Euro Strengthening Mildly While Dollar Awaits CPI
Overall market sentiment is mildly positive with the strong rebound in DOW overnight, followed by slight gain in Nikkei. European majors are having a small edge over the others but Swiss Franc is still clearly lagging behind. Australia Dollar is leading commodity currencies lower for now, after some cautious...
Selling Turns to Euro and Swiss Franc as Risk-on Rally Returns
Commodity currencies came back to live entering into US session, with help from broad based rally in European indexes and US futures. Canadian Dollar is also lifted as WTI oil price recaptures 70 handle. Dollar turned mixed for now as selling turns to Swiss Franc, Euro and Yen. With...
EUR/USD Breaks 1.179 Support as Dollar Rebound Continues
Dollar rebound continues in Asian session today and trades generally high. Weakness in more notable in Aussie and Euro, as both turn soft in crosses. Overall risk sentiment is slightly negative, with particular deep selloff in Hong Kong stocks, but Nikkei remains resilient. The economic calendar is very light...
Dollar Rebounded as DOW’s Selloff Posts a Warning to Risk Sentiment
Dollar ended as the strongest one last week, with some held from the late selloff in US stocks. Yen was the second strongest on risk aversion while Swiss Franc was not too far away. Commodity currencies, on the other hand, ended generally lower. Traders ignored the dovish tapering of...
CAD Rebounds on Strong Job Data, USD Turning Weaker
Canadian Dollar rebound strongly in early US session after stronger than expected job data. Commodity currencies are also generally firm with European stocks and US futures, followed by Sterling. On the other hand, Yen, Swiss Franc and Dollar are turning softer, but Euro is not too far away. The...
Focuses Turn to UK GDP and Canada Jobs for Guidance
Overall, the forex markets are rather mixed as we're heading towards the weekend. Euro is staying weak in European crosses, but selling slowed against Dollar and Yen. Meanwhile, commodity currencies are trading mildly higher, but remain the worst performers for the week. Dollar turned weaker against Swiss Franc and...
Euro Tumbles in Crosses, No Help from ECB Re-calibration
Euro tumbles notably against European majors and Yen today, and ECB's re-calibration of PEPP purchases provide no support. But Dollar is seen as equally weak. Sterling is currently the star performer for today, followed by Swiss Franc and Yen. Commodity currencies are mixed. Focuses will now turn back to...
Euro Losing Momentum ahead of BoC, Dollar Recovering Further
Commodity currencies are trading generally lower in Asia today, with pull back in Japanese stocks in the background. Canadian Dollar is also soft after BoC's rate decision overnight. Dollar, Yen and Swiss Franc are trading mildly firmer, extending this week's rebound. Euro is following closely, but momentum is starting...