Market Overview
Swiss Franc and Yen Resumed Selloff, Markets Mixed Elsewhere
Selloff in Swiss Franc and Yen is the main focus today. But the forex markets are mixed elsewhere. Commodity currencies are mildly firmer as led by Aussie, but major pairs are just bounded in very tight range at the time of writing. Euro, Sterling and Dollar are mixed for...
Currency Trading Subdued, But Risk Aversion Building Up
Huge volatility continues in stock markets as Asian indices dive following the selloff in US overnight. But movements in exchange rates are relatively subdued, and mixed. Swiss Franc, Yen and Euro are currently the weaker ones for the week, followed by Dollar. Australian Dollar is leading other commodity currencies...
Dollar Recovers Despite Sluggish ADP Job Growth, Yields Up Again
Dollar recovers in early US session as sluggish ADP job growth drags down stock futures. Additionally, treasury yields are having a mild rebound. At this point, Sterling is following as the strongest followed the day, then Canadian. New Zealand Dollar is leading Australian Lower, followed by Swiss Franc and...
Aussie Supported by GDP, Dollar Turns Soft in Consolidative Markets
The markets are relatively mixed so far. Dollar's rally attempt was brought to a halt overnight while Euro and Swiss Franc recovered. Commodity currencies also recovered, as led by Aussie, with support from better than expected GDP data. Yet, major pairs and crosses are kept in tight range. In...
Euro Drops on ECB Comments, Swiss Franc Weaker
Euro is under some pressure today after a heavy ECB official indicated the readiness to response to surging yields. But Swiss Franc is not too far behind. The forex markets are mixed elsewhere. Dollar is currently the stronger one, together with Aussie and Sterling. Meanwhile, Kiwi is the weaker...
Aussie Steady after RBA, Yield Retreats, Stocks Mixed
Global treasury yields softened mildly this week, which helped the rebound in US and European stocks yesterday. But the positive sentiment is not much reflected in Asian session today so far. Selloff in Swiss Franc and Yen, and to a lesser extent Euro, appears to be slowing. But these...
Swiss Franc Sold Off Again as Stocks Rebound, Yields Turned Mixed
Swiss Franc is in deep selloff again today as risk sentiment further stabilized in the markets. European indices rebound broadly while US futures point to higher open. Global bond markets also turned mixed for now. Euro and Yen are following as next weakest. Meanwhile, Canadian Dollar is leading other...
Markets Stabilize in Tight Range, Employment and Prices Data in Focus
Commodity currencies and Sterling recover broadly as sentiments in Asian markets stabilized, after mixed economic data. In particular, Nikkei is trading up over 2% at the time of writing, with help from strong PMI manufacturing. On the other hand, Yen turn softer together with Swiss Franc, Dollar and Euro....
A Wild Week of Metals, Yields, Stocks and Dollar
Just after DOW hit new record high in the middle of last week, the rally was choked by skyrocketing treasury yields. Dollar surprisingly ended as the strongest one for the week, followed by Euro and then Sterling. Australian Dollar suffered most as it reversed some of the month's gains....
Dollar Strong as Stocks Stay in Red Even Though Yields Retreat
Even though treasury yields are retreating mildly today, stocks are staying in red in Europe and Asia. US futures point to a recovery but it's unsure if the rebound could sustain before close. Investors are digesting comments from central bank officials regarding surging real long term rates and inflation....
Yields Up, Stocks Down, Dollar and Yen Rebound
US stocks suffered steep selling overnight on sharp rally in treasury yields, and the selloff carried forward to Asian markets. Yen and Dollar ride on the turn in risk sentiments and rebounded, together with Dollar. Australian and New Zealand are in deep pull back, together with Sterling. Euro and...
Euro Attempts a Come Back, Global Yields Surge Continues
Surging global yields remain the major focus today, with Germany 10-year bund yield hitting as high as -0.234, while UK 10-year gilt yield reaching as high as 0.818. Earlier in Asia, Japan 10-year JGB yield closed strongly at 0.152. US 10-year yield is also trading above 1.45. In the...
Team Risk-On Extends Leads as DOW Hits New Records
As DOW hit another record with strong rise overnight, team risk-on is extending the lead over team risk-off in the currency markets. New Zealand Dollar is having a mild upper hand over Australian, Canadian and Sterling for now. But the Loonie is trying to catch up with rising oil...
Yen Under Pressure as Swiss Franc Decline Slows a Bit
Selling focus appears to be turning to Yen as markets enter into US session. Swiss Franc remains weak but the decline is slowing slightly. Dollar and Euro are also soft, but both are supported by buying against Yen and Franc. On the other hand, commodity currencies remain the strongest...
CHF Selloff Intensifies, NZD Rises after RBNZ
New Zealand Dollar rises broadly today after RBNZ stood pat and didn't sound particularly concerned with the strong exchange rate. Though, Sterling remains the strongest one, continued to be supported by lockdown exit optimism. Other commodity currencies are also firm despite steady risk market sentiments. Yen and Swiss Franc...
Sterling Stronger on Reopening Optimism, Dollar Stabilizes
Sterling rises broadly today as UK Prime Minister Boris Johnson said he's "hopeful" and "very optimistic " to end pandemic restrictions on June 21, based on the "one-way road to freedom" roadmap unveiled yesterday. Canadian Dollar is Dollar is following as second strongest, with a little help from oil...
Dollar Soft as Markets Await Fed Chair Powell Testimony, Oil Jumps
Dollar stays generally soft in Asian session today as markets await Fed Chair Jerome Powell's testimony. The topics of inflation and surging treasury yields would be the focuses. For the former, Powell would likely talk down the significance of temporary rise in inflation, and focus on medium term outlook...
Swiss Franc Weak after Brief selloff, Yen and Dollar Also Soft
Swiss Franc was a focus in earlier European session as it suffered brief but deep selloff. Though, it somewhat found some footing quickly, even though it's still the second weakest for today so far. Yen is underperforming again on strong major global benchmark yields. Dollar and Canadian Dollar are...
NZD Surges on Rating Upgrade, Eyes on RBNZ This Week
New Zealand Dollar opens the week higher after ratings upgrade by S&P. The Kiwi would now look into RBNZ's comments on the economy and new economic projections featured later in that week. Elsewhere, overall risk-on sentiments continue to support commodity currencies and Sterling. On the other hand, Yen and...
Aussie Surged With Industrial Metal Prices, More Upside in Favor
Stocks markets took a breather last week while focus turned to surging industrial metal prices and treasury yields. Strength in metals was seen more about supply shortage than recovery in demand. That somewhat also reinforced reflation trades. US 10-year yield was back above 1.3%, German 10-year bund yield at...