Market Overview
Dollar Selling Taking Off, Aussie and Kiwi Strong
Dollar remains generally pressured in Asian session, as selling appeared to have taken off overnight. J&J's vaccine saga is raising some concerns that it would take longer for US to achieve herd immunity. Or, at least, it's not brightening the outlook. On the other hand, New Zealand Dollar jumps...
Dollar and Stocks Lower on J&J Vaccine Pause, Euro Rises
Dollar trades mildly lower entering into US session, after US FDA and CDC recommend pause of J&J COVID-19 vaccines on blood clot issue. DOW futures also turn south and point to slightly lower open. Meanwhile, UK Prime Minister Boris Johnson also warned that the fall in infections was due...
Yen Softens in Quiet, Directionless Markets, Dollar Regains Ground
The forex markets are generally quite and directionless for the time being. After very brief selloff yesterday, Dollar is regaining some ground in Asian session today. Sterling is mildly firmer too, but there is no follow through buying. Yen is currently the weaker one together with Swiss Franc and...
Dollar Softens ahead of Treasury Auctions, Sterling Staging Strong Recovery
Dollar turns softer entering into US session, as traders await the results of auctions of both 3- and 10-year bonds, worth USD 96B in total. Additionally, there will be auction of USD 24B of 30-year bonds tomorrow, and a total of USD 151B in bills this week. It should...
Dollar and Yen Higher on Mild Risk-Off Sentiment, Kiwi Up ahead of RBNZ
Dollar and Yen trade slightly higher on mild risk-off sentiment in Asia. Australian and Canadian Dollar are the weaker ones for the time being. But overall, most major pairs and crosses are stuck in range. Except that, some extra strengthen is seen in Kiwi against Aussie. Kiwi could be...
Euro Reversed Course on Less Pessimistic European Outlook, Commodity Currencies Ignored Risk Rallies
Swiss Franc and Euro ended as the strongest ones last week, as investors reversed their short positions accumulated in Q1. In particular, such reversals pushed Sterling to be the worst performing one, suffering heavy pressure against both Euro and Franc. The outlook for European looked a bit less pessimistic...
Canadian Dollar Rises on Strong Job Data, Gold Fails Double Bottom Neckline
Canadian Dollar jumps broadly in early US session, with help from much better than expected job data. Dollar is following as second strongest for today, paring some of this week's losses. On the other hand, Yen and Euro, turn weaker, other with Aussie. Overall, it appears that traders are...
Sterling Still Facing Downside Pressure in Quiet Markets
Markets are generally quiet in Asian session today. Sterling is set to end as the worst performing one for the week. And it's still facing much downside pressure against Euro, Swiss Franc and Yen. Dollar is following as the second weakest, but the final position is unsure, as Aussie...
USD/JPY Extends Correction Lower, Dragging Down Other Yen Crosses
USD/JPY's near term correction accelerates lower today and the development drags down other Yen crosses too. There is no apparent reason for the rush into Yen. Stocks, yields, metals, and oil are all steady for now. We'll monitor if the Yen's rally is a prelude to some other developments...
Euro Making Progress as Focus Turns to ECB Accounts
Markets are generally mixed as FOMC minutes overnight delivered basically what have be told. Asian stocks are mixed, following the US session. Gold and oil are both stuck in range. In the currency markets, Euro and Swiss Franc are paring some gains. But both stay as the best performer...
Euro and Franc March on, Sterling Extends Slide
The rallies of Euro and Swiss Franc continue today, with much help by buying in crosses, in particular against Sterling and Aussie. The latter two are currently the worst performing ones, with Sterling as the weakest for the week too. Dollar is actually performing not too badly, down just...
Euro and Franc Strong in Mixed Markets, Dollar Await FOMC Minutes
Euro and Swiss Franc are currently the strongest ones for the week, but overall markets are relatively mixed. The rise in Euro owes a large part to Sterling's pull back, as well as Dollar's weakness for now. While overall risk sentiments are positive, there is no clear strength in...
Sterling Paring Recent Gains, Euro and Swiss Firmer
Positive sentiment sent German DAX to new record high today, while US futures point to a firm open. Investors are becoming more optimistic on the upcoming recovery, as seen in Eurozone Sentix data. IMF also raised growth forecast of the whole world and all advanced economies. The movements in...
Dollar Tumbles as DOW Hits Record, Aussie Shrugs RBA
Dollar trades broadly lower this week so far, following the strong record close in stocks overnight. Nevertheless, Yen and, to a larger extent, Swiss Franc are not following the selloff much. Commodity currencies are trading broadly higher together with Sterling. Aussie yawns RBA rate decision, which provided nothing new...
Sterling Rises in Subdued Markets, Stocks to Extend Record Runs
Sterling rises together with commodity currencies today. Trading has been rather subdued with most markets closed. But activities should come back to life in US session. US futures point to sharply higher open with DOW likely to ride on the sentiment to extend recent record runs. Euro and Dollar...
Dollar Retreats after Jobless Claims, Sluggish Pre-Holiday Trading Elsewhere
Dollar retreats mildly in early US session after weaker than expected job data. Also, treasury yield is retreating mildly while stocks point to higher open, in particular NASDAQ. Pre-holiday trading in the currency markets is generally mixed. Aussie tumbled earlier today but has recovered a large part of the...
Aussie Tumbles in Pre-Holiday Markets, Dollar Awaits ISM
Dollar is generally firm today while selling focus turned to Australian Dollar, and other commodity currencies. It's unsure what's the exact catalyst for the selloff in Aussie. But recent pull back in copper price is likely one of the reasons at least. Euro, Yen and Swiss Franc, recover, except...
Sterling and Loonie Rises, Dollar Shrugs ADP and Awaits Biden
Yen remains generally weak in early US session today. But buying focuses against the Japanese currency has somewhat turned from Dollar to Sterling and Canadian. Both the Pound and Loonie were lifted slightly be better than expected GDP data. On the other hand, Dollar's rally is losing some momentum....
Selloff in Yen and Franc Continues, Euro also Weak
Selloff in Yen and Swiss Franc remain a main theme in the markets in Asia today, while Euro is also weak. Dollar is staying firm but it's struggling to extend gain against commodity currencies and Sterling for now. Indeed, Aussie and Loonie are now trying to reverse some of...
Dollar Surges on Renewed Rally in Yields, Yen and Gold Tumble
Dollar rides on renewed rally in US treasury yields and trades broadly higher today. The greenback's strength is quite overwhelming for now. On the other hand, Yen and Swiss Franc are trading as the weakest ones, followed by commodity currencies. The stock markets are having little reactions so far,...