Dollar Steady Ahead of Fed Speeches, RBNZ Decision Looms
Dollar firmed modestly as markets transitioned into early US session. Despite the resilience, it remain skeptical whether the greenback could stage a breakout. While Dollar continues to outperform the struggling Yen, its strength against other currencies is refrained. Against Loonie, the greenback is losing traction as oil prices stabilize....
Yen Momentum Slows After Slide, But Japan Bond Market Faces Takaichi Test
Volatility across major currency pairs eased in Asian session today, with markets showing a brief pause after several sessions of outsized moves. Yen initially extended losses as the Nikkei 225 surged to another record high for a second straight day, but later steadied as profit-taking emerged following the sharp...
Euro Weakens as French Government Implodes, Macron Faces New Crisis
Domestic politics dominated global markets today, driving sharp moves in both European and Asian trading sessions. In Europe, political instability in France rattled sentiment, while in Japan, optimism over new leadership sparked a broad equity surge and a dramatic selloff in the Yen.
In European, CAC 40 slumped and Euro...
Yen Nosedives as Nikkei Surges on Takaichi Optimism; Asia in Holiday Lull
Japan occupies the spotlight in otherwise subdued Asian trading, with much of the region quiet due to Mid-Autumn Festival holidays. Nikkei 225 jumped sharply to another record high, powered by euphoria surrounding Prime Minister-in-waiting Sanae Takaichi, whose pro-growth agenda and fiscal expansion plans have ignited investor optimism.
That optimism came...
Shutdown Fails to Shake Risk Appetite; Dollar Slips, Not Sinks
A week with political paralysis in Washington ended with record highs on Wall Street — a telling sign of how investors are prioritizing Fed policy over fiscal drama. The U.S. government shutdown, now in effect after Congress failed to pass a funding bill, has frozen major data releases and...
Loonie Sinks as WTI Oil Nears $60, OPEC+ Hike Looms
Canadian Dollar remains the weakest major currency this week, pressured by a combination of falling oil prices and dovish stance of the BoC. Canada’s key export driver slumped to a four-month low with WTI crude threatening to break below 60 handle. That decline comes just as the BoC’s own...
Yen Pulls Back on Profit-Taking Ahead of LDP Vote, Dollar Steadies
Yen is paring back after a week of strong gains, as profit-taking sets in and domestic risk appetite strengthens. Japanese equities rallied sharply, driven by Hitachi’s announcement of a partnership with OpenAI to build AI data centers globally, bolstering optimism in the local market and easing demand for safe-haven...
Dollar Slightly Softer as Bessent Warns Shutdown Could Hit GDP
Dollar is slightly softer today but not under heavy selling pressure. US Treasury Secretary Scott Bessent cautioned in a CNBC interview that the current government shutdown could hurt economic performance. “We could see a hit to the GDP, a hit to growth and a hit to working America,” he...
Wall Street Hits Records Despite Shutdown, Yen Strength Continues
The ongoing US government shutdown has done little to rattle investor sentiment so far. Wall Street shrugged off the impasse, with the S&P 500 closing at a fresh record high overnight while DOW and NASDAQ also advanced. In Asia, risk appetite carried through as Hong Kong surged on its...
Dollar Slips as Fed Cut Bets Surge on ADP, Yen and Sterling Firm
Dollar weakened broadly in early US trade after a sharp miss in the ADP employment report. The data amplified concerns that US job growth is faltering, and rate markets reacted swiftly. A quarter-point Fed cut this month is now fully priced in, while the odds of another cut in...
Yen Stays Firm on Tankan Resilience, Broader Markets Subdued
Trading was relatively subdued in Asia today, with China and Hong Kong closed for holidays and little reaction seen across the rest of the region. Equity markets were mixed, reflecting a cautious tone after Wall Street managed to end slightly higher overnight despite a fresh government shutdown in the...
Markets Cautious at Quarter-End, Aussie and Yen Lead FX
Australian Dollar is staying the day’s top performer, rallying after the RBA kept its cash rate unchanged but leaned hawkish in tone. Later at the press conference, Governor Michele Bullock avoided any firm guidance on future cuts, telling reporters she would not “predict what the interest rate is going...
Aussie Surges on RBA Hawkish Tilt, Yen Supported Despite Data Weakness
Aussie rallied broadly after the RBA left policy unchanged at 3.60% but issued a statement that leaned hawkish. Traders were quick to note the Bank’s warning that Q3 inflation may come in stronger than projected in August, a reminder that the disinflation path remains far from assured.
The RBA’s tone...
Yen Leads as BoJ Hawkish Signals Build, Focus Turns to RBA
Yen held firm as the strongest performer heading into the US session, supported by mounting speculation that the BoJ is moving closer to a rate hike. Traders seized on a hawkish shift from a known dove on the Policy Board, a sign that internal momentum is building for further...
Yen Recovers as Nikkei Pulls Back, Dollar Pressured by US Shutdown Risk
Yen jumped broadly in Asian trading today, marking a strong performance on the penultimate session of Q3. The move coincided with a drop in Nikkei, where ex-dividend effects weighed on equities, prompting flows into Yen. The quarter-end context likely amplified positioning shifts.
Beyond equities, anticipation of the BoJ’s upcoming Summary...
Dollar Dominates as Strong Data Cuts Odds of Aggressive Fed Easing
Currency markets closed last week with a shift in tone, as traders suddenly found themselves recalibrating on Fed's easing path once again. The resilience of the US economy surprised many. Growth, hiring, and investment all showed more strength than anticipated, fueling doubts about whether policymakers truly need to accelerate...
Dollar Steady After PCE, Euro Finds Support on ECB Survey
The forex markets are relatively steady in early US trading, with most pairs consolidating after a week of sharp moves. The latest batch of US data offered few surprises, leaving traders reluctant to push directional bets ahead of next week’s pivotal employment report.
US PCE inflation for August came in...
Trump’s New Tariff Wave Hits Sentiment, PCE Data Eyed
Asian stocks edged lower today as investors digested fresh U.S. tariff announcements from President Donald Trump and tempered expectations for aggressive Fed easing. Risk appetite softened, with trade uncertainty once again colliding with questions over monetary policy.
At the Fed, officials remain hesitant to commit to a firm easing path....
Dollar Soars on Strong US Data, 10-Yr Yield Jumps Toward 4.2%
Dollar rallied broadly at the New York open after a powerful run of data, with Treasury yields surging as investors trimmed Fed cut bets. The 10-year note climbed toward 4.2%, while stock futures dipped modestly, reflecting the possibility that stronger growth could keep policy tighter for longer.
A major catalyst...
BoJ Hawkish Lean Fails to Lift Yen, Franc Outperforms Ahead of SNB
Trading remains subdued in the Asian session, with all major currency pairs locked inside yesterday’s ranges. Directional conviction remains elusive as traders look to fresh catalysts from both data and central bank events.
Minutes from the BoJ’s July meeting leaned hawkish, showing more board members are warming to the idea...