Market Overview
Recovery in Dollar and Yen Capped, Downside Prospects in Euro
The forex markets are staying in mostly consolidation in Asian session. Recovery in Dollar and Yen is so far rather weak, capped by resilient market sentiment. S&P 500 closed at new record high while DOW was not far behind. Major Asian indexes are also trading higher after China's Evergrande...
Yen Recovering, Swiss Franc Rises in Consolidative Markets
Markets are generally in consolidative mode today. Dollar turns weaker against Swiss Franc and Yen despite better than expected jobless claims data. But the greenback is just range bound against other major currencies. Commodity currencies are digesting near term gains but losses are so far very limited. Euro is...
Yen and Dollar Recovering as Asian Stocks Weighed Down by Evergrande
While DOW hit new intraday record high overnight, positive sentiment was not carried forward to Asia. Instead, stocks tumbled as the troubled China's property giant Evergrande failed to close the sale of the controlling stake in its property management business. The company could official go into default next Monday....
Sterling Retreats after CPI, Euro and Swiss Franc Lower Too
European majors turn generally softer today, in particular, with Sterling paring some gains after strong but lower than expected consumer inflation data. Dollar also weakens with treasury yield dipping slightly while Yen is trying to recover. But overall, Kiwi and Aussie maintain their position as the best performer. US...
Yen Sliding Again as DOW Ready to Resume Record Run
Yen continues to be under selling pressure, following the strong rally in US stocks overnight. Yen is additionally weighed down by rally in treasury yields. New Zealand Dollar is leading commodity currencies higher, while Australian and Canadian Dollars are also strong. Euro and Sterling are mixed for the moment,...
Dollar and Yen Heading South Again, Sterling and Kiwi Strong
Selling in Dollar and Yen persists again today. New Zealand Dollar is currently the biggest winner, on increasing expectation of RBNZ rate hikes. While Aussie is also strong, Sterling is slightly stealing the show too, with help from renewed buying against Euro. The cautious comments from ECB policymakers are...
Dollar Selloff Resumes, EUR/USD Breaking Near Term Resistance
Dollar's selloff resumes in Asian session today, while Yen is also trading lower. Risk-on markets in Asia lift New Zealand and Australian Dollar. European majors are mixed for the moment, with Euro trying to recover against Sterling and Swiss Franc. The economic calendar is rather light today, and focuses...
Euro Trading Mildly Higher in Consolidative Markets
The forex markets are generally staying in consolidative mode today, with Euro and Swiss Franc trading mildly higher. Meanwhile, Aussie is leading other commodity currencies for retreats. Dollar is also trying to firm up with 10-year yield breaking above 1.62 handle. Yen, is also mildly higher with help from...
Dollar and Yen Pare Losses, Inflation and PMIs to Highlight the Week
Dollar and Yen recover mildly as the week starts, paring some of last week's losses. Buying momentum in both currencies is rather weak so far, and they don't look like bottoming yet. New Zealand Dollar spiked higher earlier today after much stronger than expected consumer inflation data. But the...
Yen Selloff Accelerated on Strong Energy and Commodity Rallies
Yen's selloff accelerated rather steeply last week, on the back of surging commodity and energy prices. Dollar was also pressured this time, as treasury yields retreated and on late rally in stocks. Euro was not to far away, as pressured by selloff in crosses. On the other hand, commodity...
Sterling Powers Up While Yen Accelerates Lower, Dollar Shrugs Retail Sales
Sterling steals the show today breaking through key resistance levels the Japanese Yen, and a near term low against Euro too. Dollar is trying to strengthen against Euro and Swiss Franc on strong retail sales, but momentum is sluggish elsewhere. There is no change in the selloff in Yen,...
Yen Selloff Looks Unstoppable as Global Stocks Surge
Yen's selloff continues to look unstoppable as global markets are set to end the week on a strong note. Asian stocks are trading broadly higher following the solid rebound in the US overnight. Dollar is also weak, partly weighed down by the extended retreat in treasury yields, but Euro...
CAD, AUD, NZD Rise in Risk-on Markets, JPY Selling in Force
Commodity currencies rise broadly today on the back on risk-on sentiments. Major European indexes are trading up while US futures also point to higher open. Yen is extending recent broad based decline since though treasury yields are in retreat. Dollar and Euro are following as next weakest. Sterling and...
Yen Selloff Resumes, Aussie Shrugs Weak Job Data
Yen's decline resumes in Asian session today, with selling focusing against commodity currencies. Aussie shrugs off slightly weaker than expected job data, and strengthen together with Kiwi and Loonie. On the other hand, Dollar turns slightly softer even though FOMC minutes affirmed tapering to start in November. Euro is...
Dollar Firms Up Slightly after CPI, But No Follow Through Buying Yet
Dollar firms up mildly in early US session as headline CPI was back at multi-decade high, which core CPI remains stubbornly strong. The gain in the greenback is so far limited. Overall markets continue to trade in consolidative mode, with mild weakness seen in commodity currencies while Swiss Franc...
Markets in Consolidation as US CPI and FOMC Minutes Awaited
The markets are trading in consolidative mode in Asia today. Dollar attempted to resume near term rally against Euro overnight, but quickly lost momentum. While Yen remains generally weak, selloff slowed, along with slight retreat in US 10-year yield, and retreat in stocks. Traders will turn their focuses firstly...
Euro Softens on Weak Economic Sentiment, Yen Selloff Remains the Main Theme
There is basically no change in the Yen selloff theme in the markets. But buying focus has shifted to commodity currencies, as led by Aussie and Kiwi, as well as Sterling. Euro is turning a touch weaker after poor German sentiment data, while the Pound is supported by job...
Focus Turns to UK and Germany Data, as Yen Pares Loss
The forex markets turn into consolidative mode in Asian session. Yen recovers mildly, digesting the recent steep selloff. But there is no clear sign of bottoming in the Japanese currency yet. Commodity currencies are also retreating mildly, following some mild selloff in stocks. Euro and Dollar are mixed while...
Yen Stays Pressured, Euro Sluggish on ECB Comments
Overall outlook in the financial market is unchanged, with Yen selloff as the main theme, as major global treasury yields continue to march higher. Euro is second weakest after ECB officials talked down the threat of inflation. Australian Dollar is trading broadly higher, followed by Kiwi. Dollar, Sterling and...
Yen Selloff Continues on Strong Stocks and Yields, Sterling Lifted by Hawkish BoE Comments
Yen's selloff continues as another week starts, backed by rebound in Asian stocks and Japanese yield. Indeed, 10-year JGB yield, currently at 0.093, is on track to 0.1 handle. Sterling is currently the strongest one, as lifted by hawkish comments from BoE officials over the weekend. Australian Dollar is...