Dollar Pauses Rebound, Await More Clues from Fed Officials
Dollar found itself hovering within a narrow range during Asian session, as market participants paused to reflect on recent comments from hawkish Fed members hinting at more tightening. Despite these hawkish tones, the overall risk mood found its footing after the US markets displayed resilience, with only a slight...
Dollar Gains as Risk Aversion Spreads, Market Seeks Clarity Amid Global Economic Concerns
As markets across the globe confront a wave of cautious sentiment, Dollar finds itself in a position of strength, capitalizing on a shift in investor mood. European trading sessions have mirrored the apprehensive tone set by Asian markets, although early signs from US pre-markets suggest that the intense selling...
Aussie Dips Post-RBA Hike Amid Softened Hawkish Stance and Weak Risk Appetite
Australian Dollar is taking a surprising dip today despite RBA's anticipated decision to raise the cash rate target by 25bps. Investors have taken this opportunity to lock in profits, influenced by the central bank's softened rhetoric on the immediate need for further rate hikes. It appears RBA is likely...
European Majors Show Strength after Sentix Data, Aussie Consolidates
European majors are maintaining their upward momentum against the Dollar, leveraging last week's rally and finding additional support in the unexpectedly positive Eurozone investor confidence data. Yet, while the data provided a glimmer of positivity, the market remains guarded, unwilling to fully commit to the narrative of an economic...
Forex Markets Hold Steady; Anticipation Builds for RBA Hike on Tuesday
As the new trading week opens, the forex markets present a scene of relative tranquility during the Asian session. Dollar is attempting a modest recovery from last week's downturn, yet the impetus for a decisive rally seems absent. In contrast to the upbeat sentiment in Asian equity markets, spurred...
Dollar Dives on Risk Appetite Revival and Sliding Yields
In a week marked by a significant shift in investor sentiment, Dollar found itself at the bottom of the currency heap. A rapid shift to a risk-on attitude was catalyzed by sharp decline in benchmark Treasury yields, fueling an aggressive uptick in stock prices. The surge in equity investments...
Disappointing NFP Data Fuels Market Optimism Dollar and Yields Tumble
Markets reacted with notable positivity to the latest US. non-farm payroll report, which showed weaker-than-expected growth in jobs, a higher unemployment rate, and subdued wage inflation. Stock futures leaped as the data appeared to assuage investor concerns about further tightening by Fed. In a sharp response, 10-year Treasury yield...
Dollar’s Weakness Persists as Fed and Investors Hope For Goldilocks NFP
Dollar continues to languish as one of the weakest performers of the week, sharing the lower rungs of performance with Yen and Swiss Franc. This dynamic comes in the wake of a robust rally in global stock markets and a pronounced pullback in treasury yields. Investors and policymakers alike...
Sterling Shows Mixed Response to BoE; Dollar Faces Mounting Pressure
In the wake of BoE's decision to maintain interest rates unchanged, Sterling exhibited a mixed performance, gaining against Dollar yet faltering when paired with the Euro and commodity-linked currencies. The voting pattern at the BoE leaned slightly more hawkish than anticipated, but the newly projected rate path suggests the...
Fed’s Aftermath Sees Stocks Ascend, Dollar and Yields Wane; Eyes on Sterling BoE Looms
Dollar experienced a pronounced dip as yields fell and stocks surged overnight, with the selling pressure continuing into Asian session. This comes even though Chair Jerome Powell left the door open for more tightening, after leaving interest rates unchanged. Contrastingly, market participants appear to be leaning even more towards...
US 10-Year Yields Dip Following Treasury Auction Plan, Eyes on FOMC Decision
US 10-year yields is seeing a notable drop after Treasury unveiled its auction plan. In a closely monitored move, the department announced a USD 2B/month increase in 10-year bond sales. This increment was below market's anticipated USD 3B hike. The decision appears to bolster 10-year treasury price, subsequently pressing...
FOMC Anticipation Keeps Dollar in Check; Yen Halts Slide on Verbal Intervention
The forex markets displayed a calm demeanor during Asian session today, with traders eagerly anticipating FOMC rate decision. After experiencing a tumultuous selloff, Yen found some semblance of stability, courtesy of verbal intervention by Japan. Nonetheless, it remains the week's laggard, pausing momentarily with the possibility of further decline...
Yen’s Post-BoJ Selloff Intensifies; Euro Holds Strong Despite Weak Data
Yen continued to face significant pressure in early US session, remaining as the day's weakest performer. Hopes of substantial changes from BoJ were dashed earlier as it made only a minor adjustment to the definition of yield cap. The selling sentiment intensified following revelation that Ministry of Finance refrained...
BoJ’s Language Shift Puts Yen on Defensive; Eurozone and Canadian Data Next
Japanese Yen experienced a sharp decline following BoJ's's (BoJ) subtle adjustment in its language regarding the yield cap. This move has failed to meet market expectations, pushing Yen back below 150 mark against Dollar. Given this backdrop, there's potential for Yen's decline to extend past last week's low, reflecting...
Euro Gathers Steam While Improved Risk Appetite Dims Yen, Franc, and Dollar
Yen, Swiss Franc, and Dollar are weakening in early US session, with a discernible shift in European market sentiment that suggests a mild recovery. Major European stock indexes have inched upwards, and US futures market also indicates a higher opening. Despite early signals suggesting Yen might rebound, likely in...
Markets Quiet in Anticipation: BoJ, Fed, and BoE Coupled with Key Economic Releases
The foreign exchange markets have commenced the week on a relatively quiet note, with major currency pairs and crosses adhering closely to Friday's trading range. Commodity currencies have shown a modest edge, while European majors appear somewhat subdued. Yen and Dollar find themselves in an intermediate position, but overall...
Global Markets in Flux: Gold and Bitcoin Rally, Stocks Stumble, Yield and Dollar Hesitate
It was a week marked by a series of significant headlines that captured the attention of global investors.
Bitcoin led the charge and surged sharply, touching 35k mark, a noteworthy move for the cryptocurrency giant.
At the same time, US 10-year yield demonstrated ambition as it flirted with 5%...
Yen Seeks Revival as Dollar Shrugs PCE Data
As the week draws to a close, the Japanese Yen is exhibiting signs of a tentative comeback, with USD/JPY retreating back below the significant 150 mark. Dollar's response to the latest US personal income and outlays data was relatively subdued. Although the monthly headline PCE price index ticked slightly...
Quiet Asian Markets Brush Off US Stock Decline; All Eyes on US PCE Data
Markets remained relatively subdued in today's Asian trading session with Australian Dollar and Canadian Dollar showing modest strength. The pervasive risk-off sentiment that characterized the overnight U.S. stock market selloff did not extend into Asia, as evidenced by recoveries in both Japan's Nikkei and Hong Kong's HSI. Japanese Yen,...
Euro’s Soft Stance Continues Post-ECB; Strong US GDP Fails to Rouse Dollar
Euro is trading as the worst performer for the today so far, but there is no extended selloff after ECB's decision to hold interest rates unchanged. President Christine Lagarde's press conference reiterated that current rates should be bring inflation down to target in a timely manner if maintained for...