Gold and Bitcoin Lead Market Frenzy, Yen Jumps While Others Tread Cautiously
Gold and Bitcoin are leading the charge in Asian markets today, with Gold breaking to a new record high and Bitcoin surpassing the 40000 mark. This surge contrasts with the mixed performance of Asian equity markets, where indices like Japan's Nikkei and Hong Kong's HSI experienced some pressure. The...
Market Upturn as Inflation Cools; Stocks Climb, Euro and Dollar Falter
Financial markets were dominated by themes of cooling inflation, a slowing economy, and increasing expectations of policy easing by both ECB and Fed last week. This convergence of factors ignited a full risk-on mode among investors, propelling major US stock indexes and Germany's DAX to sharp gains. In tandem,...
Canadian Dollar Rises on Jobs Data, Dollar Soft, Euro Worse
Canadian Dollar is firming slightly up in early US session, bolstered by stronger-than-expected Canadian job growth data. Despite the weakness in oil prices following disappointment over OPEC's production cut decisions, Loonie is displaying resilience. However, in the weekly performance chart, while Canadian Dollar is outshining Australian Dollar, it still...
Dollar and Euro Neck-and-Neck for Weakest Performer, Awaiting ISM Manufacturing Insights
The competition between Dollar and Euro for the title of the week's weakest performer remains intense. Current talking point is particularly on ECB, where economists are increasingly predicting an early rate cut following this week's pivotal inflation data. Goldman Sachs, aligning with this growing consensus, has updated its forecast...
Euro Sell-Off Intensifies Following CPI Miss, Spurring Broad-Based Dollar Rebound
Dollar is staging a broad-based rebound today, driven in part by the selloff in Euro. However, a more significant factor behind Dollar's recovery appears to be the exhaustion of selling momentum as the month draws to a close. This rebound continues after both headline and core PCE inflation data...
Dollar and Euro Slide on Rate Cut Expectations, with US PCE and Eurozone CPI in Focus
Dollar and Euro are emerging as notable underperformers for the week, largely influenced by increasing market anticipation of interest rate cuts by Fed and ECB in the coming year, a sentiment that is also impacting treasury yields. In US, 10-year treasury yield, a key benchmark for market expectations, has...
Dollar Finds Its Footing, Euro Faces Headwinds, Aussie at a Critical Point
Dollar is stabilizing after earlier selloff but remains the weakest performer for the week. Its modest recovery can be partly attributed to a bounce back against Euro, which is currently under pressure due to Germany's lower-than-expected CPI readings. Meanwhile, Australian Dollar is experiencing a delayed reaction to Australia's lower-than-expected...
Fed’s Dovish Tone Pressures Dollar and Yields, RBNZ’s Hawkishness Lifts Kiwi
Dollar's decline finally takes off again overnight, following dovish comments from some Fed officials. In particular, Fed Governor Christopher Waller, typically known for his hawkish views, softened his stance and expressed a level of satisfaction with the current interest rate policy. Chicago Fed President Austan Goolsbee's even raised concerns...
Hesitant Dollar Sellers In Search of Clear Signals for Further Action
The forex markets today are characterized by a lack of decisive direction. Dollar remains generally weak, yet there seems to be a reluctance among sellers to push it further down. Market focus is now shifting to comments from several Fed officials scheduled for today and the rest of the...
Yen Strengthens Amid Speculation of BoJ Policy Shift and Business Sector’s Currency Concerns
Yen has a notable bounce in Asian session today, fueled by a Nikkei report suggesting that BoJ is finally near to the end its negative interest rate policy. This policy shift, which could see interest rates rise as early as the first half of next year, hinges on the...
Dollar Dips, Euro Struggles in Lackluster Market
As US session commences, Dollar is showing a more notable downturn following a rather uneventful day. In the background risk sentiment is steady, with investors and traders largely holding their positions in anticipation of key economic data releases. The upcoming PCE inflation data on Thursday and ISM manufacturing data...
Yen Cautious Rebounds While Gold Rallies Above 2k
Yen is having a moderate rebound today, spurred by slightly stronger-than-expected corporate services price inflation data. However, this uptick in is showing only restrained momentum, especially noticeable even against a weaker Dollar. The limited rise can be attributed to low market activity, as there are no significant events scheduled...
Dollar’s Weak Streak Continues, Sterling and Antipodean Currencies Shine
Dollar ended as the weakest performer last week, with it poor performance aligning with broader rally in both stock and commodity markets, underpinned by growing investor sentiment favoring US economic soft-landing. Furthermore, minutes from FOMC meeting suggested a potential softening of Fed's hawkish stance. As risk-on sentiment seems poised...
Canadian Dollar Rallies on Retail Sales Surprise, Kiwi and Sterling Firm
Canadian Dollar is having a notable rebound in early US session, fueled by unexpectedly robust Canadian retail sales data. This data indicated a surprising resurgence in consumer spending, defying the constraints of high interest rates and ongoing inflation.
Despite this uplift, Loonie was overshadowed by New Zealand Dollar, which also...
Yen Sees Mild Uptick Following Mixed CPI and PMIs, A Signal for Buyers’ Return?
Trading activity is rather subdued in Asian session today, with most major currency pairs and crosses hovering within yesterday's range.
Yen is showing a slight recovery, albeit in the context of mixed inflation and PMI data. While Japan's core CPI remains persistently above BoJ's target, the latest figures haven't provided...
Sterling and Euro Rise on PMI Data in Consolidating Markets
PMI data are the main drivers in the forex markets today, particularly lifting Sterling and, to some degree, Euro to higher positions. The bounce in Sterling is chiefly attributed to UK services sector bouncing back into expansion territory, a sign of economic resilience. Additionally, the severity of manufacturing recession...
Eurozone and UK PMIs Grab the Limelight in Thanksgiving Quietude
Global financial markets are experiencing subdued activity in Asian session today, with market participants scaling back their activity in light of Thanksgiving holiday. Major US stock indexes managed to close higher overnight, yet there's a palpable reluctance among investors to propel these indexes to new highs for the year....
Dollar Extending Recovery as Consolidation Starts, Risks Still Tilted to the Downside
Dollar is extending its near term recovery in the early US session. The latest jobless claims data came in better than expected, offering some support to the greenback. However, this was somewhat offset by weaker-than-anticipated durable goods orders. Overall, the current upswing in may not be entirely rooted in...
Dollar Stabilizes, Yen Retreats, Euro Loses Momentum
As Thanksgiving long weekend approaches, a noticeable tranquility has enveloped the financial markets. The aftermath of FOMC minutes, which revealed a slightly toned-down hawkish stance, has resulted in rather subdued market reactions. Major stock indices have slightly retreated from their recent advances, reflecting a cautious sentiment among investors. Correspondingly,...
Canadian Dollar Remains Weak Post-CPI, as Gold Breaches 2000 Barrier
Canadian Dollar exhibited softness in early US session, a reaction to lower-than-expected consumer inflation readings. This development, indicative of ongoing disinflation, could bolster BoC's confidence to maintain its current policy stance in the upcoming December meeting. Notably, Canadian Dollar has been unique among major currencies in its inability to...