Dollar Softens Further on Dovish Repricing; Bessent Signals Fed Chair Decision Near
Dollar weakened notably against Euro and Yen in early U.S. session, tracking another leg lower in Treasury yields as markets absorbed softer-than-expected September retail sales. While the report was backward-looking, it reinforced the direction of travel for consumption and added incremental weight to the view that demand is steadily...
Currencies Stay Calm Despite Risk-On Tone; Focus Turns to Delayed U.S. Data
Trading in the currency markets remained largely steady in Asian session, with major pairs and crosses stuck in unusually tight ranges. There was little conviction in either direction, and the mild risk-on tone that followed the strong U.S. close failed to generate follow-through in FX.
The December Fed cut narrative...
Dollar Soft as Fed Doves Lift Cut Odds to 75%; Yen Slumps Again
Dollar is trading on the back foot today as markets add to bets on a December Fed rate cut, extending the repricing that began late last week. The shift was triggered by New York Fed President John Williams, who surprised markets last Friday by saying he sees room for...
Yen Falters After Friday Rebound; UK Budget, RBNZ Cut, U.S. Data Catch-Up
Asian trading has been subdued with Japan on holiday. Yen’s sharp rebound at the end of last week has failed to extend, with the currency losing energy amid a lack of fresh catalysts. The pause reflects an uneasy balance. While some investors expect further corrective strength, broader policy expectations...
Fed Messaging Chaos Nudges Dollar Higher, Not Higher Enough
Global markets closed last week on an uncertain footing. While bears appeared to have an upper hand, the control was never firmly gripped. Conviction was relatively thin as traders were reluctant to commit decisively. The overall impression was of markets still searching for a coherent theme to latch onto....
Williams Rekindles December Fed Cut Bets, Markets Scramble to Reprice
New York Fed President John Williams delivered the day’s biggest surprise, signaling that he sees scope for another rate cut in the near term. As head of the New York Fed — a permanent FOMC voter and a traditional bellwether for committee consensus — his comments dramatically shifted the...
Dollar Holds Firm, Risk Appetite Crumbles as Nvidia Euphoria Fades
Commodity currencies came back under pressure today as the burst of Nvidia-driven optimism evaporated almost as quickly as it arrived. After a strong start, major U.S. indexes staged a staggering reversal and closed sharply lower — marking the biggest midday turn since April. What triggered the shift remains unclear,...
Dollar Eases as Markets Shift to Risk-On Despite Strong NFP
Dollar strength faded mildly after the stronger-than-expected U.S. non-farm payroll report, as traders showed little appetite to extend the post-data rally. The muted reaction reflects a market that had already repriced aggressively after yesterday’s hawkish FOMC minutes, which pushed expectations for a December rate cut sharply lower. In that...
Risk-On Returns, Fed Cut Bets Fade Further, NFP Looms
Investor sentiment turned decisively positive in Asian markets today, even as traders continued dialing back expectations for a December Fed rate cut following the hawkish tone in FOMC minutes released overnight. The shift in rate expectations would normally pressure risk assets, but momentum instead swung in the other direction...
Yen Extends Losses as Japan Floats Tweak to 2013 BoJ Framework
Yen’s selloff accelerated again today despite repeated warnings from top Japanese officials that they are monitoring FX markets with a “strong sense of urgency.” The latest remarks came after Finance Minister Satsuki Katayama met BoJ Governor Kazuo Ueda and Economic Revitalisation Minister Minoru Kiuchi, where all sides reaffirmed their...
Yen Fails to Rally in Risk-Off Trade as BoJ Hike Slips Further Out
Risk-off sentiment continues to drive global markets this week, but the traditional safe-haven Yen is gaining little traction from the turbulence. The currency’s inability to capitalize on the broad defensive tone reflects an overriding theme: expectations that the BoJ’s long-awaited rate hike will be pushed back once again.
Political pressure...
Tech Slide Continues, Yen Still Lacks BoJ Signal
Global markets remain under pressure today as risk sentiment deteriorates further across regions. Europe opened firmly lower, tracking the broad declines seen earlier in Asia, while U.S. futures point to another weak session. Today’s tone is one of cautious de-risking, with markets showing little appetite to buy dips ahead...
Risk-Off Strikes Again, Yen Awaits Signals from Takaichi–Ueda Meeting
Swiss Franc and Yen led the forex board in Asian session today, buoyed by a fresh wave of risk aversion. U.S. equities closed notably lower overnight, with pressure concentrated once again in AI-linked megacaps. The weakness spilled quickly into Asia, lifting traditional safe havens and putting renewed strain on...
Pound Outperforms as Markets Stabilize After Fiscal Headlines
Sterling is outperforming in otherwise quiet trading, reversing some of the weakness seen late last week. The Pound and UK bonds were pressured after reports that Chancellor Rachel Reeves had opted to drop tax hikes from next week’s Autumn Budget, a shift that raises fresh questions about the UK’s...
Sentiment Cautious But Not Negative, US Data Reboot Awaited
Sentiment in Asian markets started the week on the softer side, though the pullback has been well contained so far. The tone was more cautious than negative, with investors reluctant to take strong positions ahead of a busy global data schedule and the return of U.S. macro releases.
The dominant...
Investors Step Back From US Assets Ahead of Data Flood
Last week delivered what should have been a moment of relief for global markets: the US finally ended its historic government shutdown, clearing the way for normal economic data flow to resume. Yet instead of sparking a rally, the reopening brought little comfort.
U.S. assets struggled across the board. Equities...
Franc Leads Safe-Haven Bid, Tech Rout Pressures Sentiment
Risk aversion intensified with markets once again gripped by tech-led weakness. Nvidia slumped in premarket trading, dragging the broader semiconductor and AI complex lower and reinforcing concerns that the sector’s valuation reset still has further to run. The risk-off tone spilled over into cryptocurrencies, where Bitcoin dropped more than...
Risk-Off Rekindled by Fed Pushback and Deepening China Weakness
Risk aversion returned forcefully overnight, with Wall Street suffering its steepest daily decline in a month as investors unwound exposures. The reopening of the U.S. government offered no support to sentiment, with markets instead refocusing on the prospect that a December Fed rate cut is far from assured. Comments...
Indecisive Session as Sterling and Aussie Moves Fizzle
The forex markets were broadly indecisive today, with major currencies struggling to find convictions in their movements. Sterling initially fell after weaker-than-expected Q3 GDP print but the decline proved short-lived. The markets appeared to have already priced in a December BoE cut following earlier labor data. Instead, the focus...
Aussie Soars on Strong Jobs Data; U.S. Shutdown Ends, UK GDP in Focus
Australian Dollar strengthened broadly in Asian session today after stronger-than-expected October employment report reinforced confidence in the resilience of Australia’s labor market. The robust job data numbers confirmed that while the labor market is cooling, the adjustment is happening only gradually. The results also vindicated RBA Governor Michele Bullock’s...