Market Overview
Dollar Firm in Quiet Holiday Trading, Yen Soft
The forex markets are rather quiet in Asian session today. Trading will probably remain subdued with US on holiday. The greenback remains the strongest one for the week on speculation that the "transitory" yet persistent strong inflation would eventually force Fed to raise interest rate earlier. Canadian Dollar is...
Dollar Rally Continues as Jobless Claims Dropped to Lowest Since 1969
Dollar's rally continues today and stays firm after much better than expected jobless claims data. Yen is following as second strongest on risk-off sentiment, as major European indexes and US futures are in red. On the other hand, New Zealand Dollar remains the worst performing one on post-RBNZ selloff,...
NZD Softens after RBNZ Hike, Dollar Firming Up
New Zealand Dollar weakens in Asian session after RBNZ rate hike, and leads other commodity currencies lower. Dollar firms up mildly as it's ready to extend recent rally, except versus Yen for now. European majors are mixed, with Sterling have a mild upper hand against Euro and Swiss Franc....
Sterling Breaking to the Downside, Euro in Weak Recovery
Markets are trading in mild risk off sentiment, while treasury yields also surge. New Zealand Dollar is leading other commodity currencies lower, and Sterling is week too. On the other hand, Euro and Swiss Franc are currently the stronger ones, followed by Dollar and Yen. But overall, it should...
USD/JPY Upside Breakout after Powell Got Nominated Again, Gold Tumbled
Dollar surged overnight after Fed Chair Jerome Powell was nominated for a second term by US President Joe Biden. The greenback stays firm in Asian session and is ready to extend its near term rally. On the other hand, New Zealand Dollar is trading notably lower, as traders are...
Euro Soft But No Fresh Selloff Yet
Euro stays generally soft today even though there is no follow through selling yet. It's reported that Germany's acting Chancellor Angela Merkel urged in a CDU meeting tougher restrictions to combat the fourth wave of coronavirus infection. But the news was shrugged off as the markets have probably priced...
Market Consolidates in Tight Range But Euro Looks Vulnerable
The forex markets are generally staying in tight range in Asian session, digesting last week's moves. Euro remains generally soft and looks vulnerable to extend the near term decline, in particular against commodity currencies and Yen. Sterling is so far resilient, awaiting more BoE officials to speak up their...
Euro Dived on Dovish ECB and Lockdown Fears, More Downside Risks ahead
Euro tumbled broadly and deeply last week, and ended as the run away worst performer. It's firstly weighed down by dovish comments from ECB officials, who talked down the need for policy action to counter inflation. More importantly worries grew after Austria returned to full lockdown.
Daily new COVID-19 infections...
Euro Hammered as Lockdown Returns, Risk Sentiments Turn Sour
Euro's recovery was rather short-lived as selling returns after dovish comments from ECB president. Also, Austria returned to full lockdown while Germany may follow on the fourth wave of COVID-19 infections. Yen rises broadly today as risk sentiments turn sour. For the week, Euro remains the worst performer, followed...
Euro Recovers, Dollar Retreats as Markets Turn Quiet
Dollar's retreat continues in Asian session, but it remains one of the strongest for the week, just next to Sterling. On the other hand, while Euro is recovering, it's still the worst performing one followed by Aussie. Overall, the markets are staying in a near term consolidative phase with...
Euro Recovering in Crosses, But Not Out of the Woods Yet
The forex markets are a bit mixed today while trading is subdued. New Zealand Dollar stays as the strongest on RBNZ rate hike expectations. Swiss Franc and Euro are following, primarily thanks to recovery against Sterling. Yen is currently the weakest one for the day, followed by the Pound...
NZD Rises Mildly on Firm RBNZ Rate Expectations, Euro Still Pressing Key Support
New Zealand Dollar trades mildly higher today, after an RBNZ survey shows firm expectation of more rate hike ahead. On the other hand, Canadian Dollar weakens broadly as WTI crude oil's pull back extends below a near term support level. Overall, Sterling and Dollar remain the strongest ones for...
Sterling Jumps on Strong CPI, Euro Selloff Continues
Sterling jumps broadly today after much stronger than expected consumer inflation data, that raises the chance that BoE will "have to act" on interest rates soon. On the other hand, Canadian Dollar shrugs off strong, but inline with expectation CPI. Dollar is still among the strongest for the week,...
Dollar Extends Rally as Focus Turns to UK and Canada CPI
Dollar's rally extends in Asian session, with EUR/USD breaching 1.13 key support zone. Meanwhile, USD/JPY also breaks 114.86 near term top. Sterling is so far very resilient as markets await inflation data from the UK. Canadian Dollar is just mixed ahead of Canada CPI. Much volatility is likely in...
Sterling Rises on Solid Job Data, Dollar Firm on Retail Sales
Sterling rises broadly today with help from solid job data, which eased the concerns over the impact of end of furlough scheme. Dollar is also firm as supported by better than expected retail sales sales. Euro is trying to digest some losses but stays weak on dovish ECB expectations....
Euro Selloff Intensified on Dovish Lagarde, Could EUR/USD Defend 1.13?
Euro tumbled broadly overnight, riding on dovish comments from ECB President Christine Lagarde. In short, Lagarde continued to talk down the need of early stimulus withdrawal and warned of the hurt to recovery for doing so. Swiss Franc is currently the second weakest, followed by Yen. On the other...
Aussie Jumps With Risk Appetite, Dollar Continues to Retreat
Australian Dollar leads other commodity currencies higher today, as supported by solid risk appetite. US futures indicate a much higher open and extended rally could push major indices to new record highs later this week. Dollar and Euro are currently the weakest ones for the day, followed by Yen....
Dollar Retreats Mildly in Asian Session, Yen Lower after GDP
Dollar retreats mildly in quiet Asian session today, but loss is limited. Some consolidations will likely be seen and further rally in the greenback is still likely to follow. Yen is also slightly softer after worse than expected GDP data. On the other hand, Swiss Franc and Euro are...
Dollar Surges as Markets Added to Bets on June Fed Hike
Traders added to the bet of a June rate hike by Fed after stronger consumer inflation reading. Dollar surged across the board with Dollar index taking out an important fibonacci level. Benchmark currency yields staged a strong rebound. But stocks were very resilient despite intensify speculation of an early...
Dollar Digesting Gains, But Remains Strongest for the Week
Overall, trading in the forex market is rather subdued today. Dollar is retreating mildly but remains the strongest one for the week. Yen remains the distant second, while Sterling is third. On the other hand, Australian Dollar is the weakest one, followed closely by New Zealand Dollar. Euro and...