Market Overview
Sterling Rises on Solid Job Data, Dollar Firm on Retail Sales
Sterling rises broadly today with help from solid job data, which eased the concerns over the impact of end of furlough scheme. Dollar is also firm as supported by better than expected retail sales sales. Euro is trying to digest some losses but stays weak on dovish ECB expectations....
Euro Selloff Intensified on Dovish Lagarde, Could EUR/USD Defend 1.13?
Euro tumbled broadly overnight, riding on dovish comments from ECB President Christine Lagarde. In short, Lagarde continued to talk down the need of early stimulus withdrawal and warned of the hurt to recovery for doing so. Swiss Franc is currently the second weakest, followed by Yen. On the other...
Aussie Jumps With Risk Appetite, Dollar Continues to Retreat
Australian Dollar leads other commodity currencies higher today, as supported by solid risk appetite. US futures indicate a much higher open and extended rally could push major indices to new record highs later this week. Dollar and Euro are currently the weakest ones for the day, followed by Yen....
Dollar Retreats Mildly in Asian Session, Yen Lower after GDP
Dollar retreats mildly in quiet Asian session today, but loss is limited. Some consolidations will likely be seen and further rally in the greenback is still likely to follow. Yen is also slightly softer after worse than expected GDP data. On the other hand, Swiss Franc and Euro are...
Dollar Surges as Markets Added to Bets on June Fed Hike
Traders added to the bet of a June rate hike by Fed after stronger consumer inflation reading. Dollar surged across the board with Dollar index taking out an important fibonacci level. Benchmark currency yields staged a strong rebound. But stocks were very resilient despite intensify speculation of an early...
Dollar Digesting Gains, But Remains Strongest for the Week
Overall, trading in the forex market is rather subdued today. Dollar is retreating mildly but remains the strongest one for the week. Yen remains the distant second, while Sterling is third. On the other hand, Australian Dollar is the weakest one, followed closely by New Zealand Dollar. Euro and...
Dollar Extending Broad Based Rally in Quiet Trading
Dollar's broad based rally continues in Asian session today and looks set to have a strong close for the week. Talking about weekly performance, Yen is following the greenback as the next strongest. New Zealand Dollar and Australian Dollar are competing for the worst performing spot. European majors are...
Canadian Dollar Accelerates Down on Weakening Oil, Dollar Staying Strong
Selloff in Canadian Dollar gathers pace today as WTI oil price is quickly heading back towards 80 handle. Other commodity currencies are also weak, with Aussie weighed down by poor job data. On the other hand, Dollar is staying firm without clear sign of loss momentum yet. Yen is...
Aussie Tumbles after Job Data, Dollar Extending Rally
Dollar stays generally firm in Asian session, following the post CPI rally overnight. Yen is some what helped by the selloff in stock markets despite rebound in US yields, and remains firm except versus the greenback. On the other hand, Australian Dollar tumbles sharply following much worse than expected...
Dollar Rises as US CPI Jumped Sharply Again
Dollar rises sharply in early US session after much stronger than expected consumer inflation data, which hit multi-decade high. For now, New Zealand Dollar is the worst performer today, followed by Sterling and then Euro. Yen is retreating against the greenback but stays steady against others.
Technically, despite notable rally,...
Yen Staying in Driving Seat With Falling Yields and Mild Risk-Off Sentiment
Falling global yields and mild risk off sentiment continue to boost Japanese Yen. On the other hand, Australian Dollar is leading other commodity currencies lower. But the forex markets are mixed elsewhere for now. Dollar and European majors are stuck in near term ranges against each other. Eyes will...
Euro Shrugs Improve German Sentiment, Yen Stays Firm
Yen stays general firm after earlier rally today, and Dollar is following. Euro shrugs off better than expected German economic sentiment data. Sterling and Swiss Franc are mixed. Australian and New Zealand Dollar are currently the weakest. Gold is firm but there is no follow through buying through 1833.79...
Yen Resumes Rally, Gold Eyeing Key Resistance
Yen's rally resumes today while overall market sentiments are mixed. Asian stocks are treading water but US benchmark yield takes another dive. Swiss Franc is following as the second strongest for now. On the other hand, commodity currencies are trading broadly lower, as led by Aussie. Euro and Sterling...
Euro Supported by Improving Investor Confidence; USD, JPY and CHF Mildly Lower
Dollar, Yen and Swiss Franc turned slightly weaker in quiet markets today. Euro is supported by better than expected investor sentiment data, while Sterling also recovers. New Zealand Dollar is also trading higher but Australian and Canadian Dollar are lagging behind. Gold is back above 1800 handle but has...
Yen Retreating in Quite Markets, But More Upside Still Likely
The financial markets are rather quiet today. Commodity currencies are paring back some of last week's losses while Yen is retreating. But there is no change in the overall outlook, with the decline in Yen crosses more likely to continue than not. Trading could remain subdued first in European...
Yen and Franc Followed Bonds Higher, Ignored Record Running Stocks
The developments last week were a bit confounding, as both stocks and bonds rallied notably. Yen and Swiss Franc followed the path of falling yields and rose as the biggest winner of the week.
Dollar was not much helped by Fed's tapering and solid job data. Australia Dollar ignored broad...
Dollar Surges after NFP, Breaking Out Against Euro
Dollar rises in early US session after better than expected employment data. It's now attempting a breakout against Euro. Canadian Dollar is also firmer after job data. On the other hand, Sterling remains one of the weakest for the week, as post BoE selloff continues. But Euro and Swiss...
Yen and Franc Strong on Falling Global Yields, Dollar Looks into NFP
Yen and Swiss Franc are currently the strongest ones for the week and remain generally firm. Falling global benchmark treasury yields seem to be supporting both "safe-haven" currencies. Germany 10-year bund yield is back below -0.22, UK 10-year gilt yield is below 0.95 while Japan 10-year JGB yield is...
Sterling Dives as BoE Refrains from Rate Hike, Yen and Franc Firm
Sterling drops sharply after BoE stands pat, disappointing those who expected a hike. Euro is currently following as the second weakest for the day. On the other hand, Yen and Swiss Franc rise broadly, supported by falling benchmark yields in Germany and UK. Dollar is also firm as general...
Stocks Surged, Dollar Mixed after Fed Tapering, BoE Next
US stocks surged to new records overnight despite Fed's tapering announcement. Positive sentiments also continued in general in Asia. Dollar remains mixed for now and traders are probably awaiting tomorrow's non-farm payroll report before taking a commitment. Focus will now turn to BoE rate decision, as Sterling is trading...