Market Overview
Dollar Strong in Risk-On Markets, Non Farm Payrolls in Focus
Return of risk-on markets, after some solid economic data, pushed S&P 500 and NASDAQ to new record highs overnight. Yen and Swiss Franc trade broadly lower naturally but Euro was not far behind. Commodity currencies, while firm, are so far overwhelmed by Sterling and Dollar. In particular, the greenback...
Sterling Surges in Acceleration after BoE, Euro Dives
Sterling jumps sharply after BoE indicated that it didn't want to send a signal to the market on adopting negative rates. Dollar is also firm on overall mixed market sentiments. Thanks to the selloff against both the Pound and the greenback, Euro is currently the worst performing one for...
Sterling Softens ahead of BoE, Dollar Maintains Gains
Sterling softens notably today as focus turns to BoE rate decision, and more importantly the stance regarding negative interest rates. Euro and Swiss Franc remain generally weak too. New Zealand and Canadian Dollars are paring some gains as risk markets turned mixed again. But Aussie is somewhat bucking the...
Euro Stays Weak Despite Better CPI, Dollar Shrugs Strong ADP Job Growth
Economic data released today are largely ignored so far. Euro's weakness continues despite stronger than expected inflation reading. Swiss Franc and Sterling are also softening slightly. Dollar, on the other hand, struggles to extend gain after much stronger than expected ADP employment. New Zealand Dollar continues to trade as...
Kiwi Rises on Job Data, Loonie Firm on Oil Price, Euro and Franc Weak
Canadian and New Zealand Dollar are both in the driving seats in the markets this week. Return of risk appetite is providing the base for rally. Meanwhile, Kiwi is lifted by stronger than expected job data while Loonie follows oil prices higher. Aussie is lagging behind on RBA, however....
Euro Tumbles Through Support, Canadian Surges With Oil’s Upside Breakout
Canadian Dollar is currently trading as the strongest one for today, following the upside breakout in oil price. The resilient Sterling is following as second strongest, awaiting BoE to rule out negative interest rates later in the week. On the other hand, Australian Dollar is the worst performing, after...
Australian Dollar Softens after RBA Expands QE, Euro Pressing Key Support Again
Australian Dollar softens mildly after RBA expands asset purchases by another AUD 100B. Also, it pledges to keep interest rate unchanged at current level until at least 2024. On the other hand, New Zealand Dollar and Canadian Dollar are the relatively stronger ones. But for now, both are capped...
Swiss in Broad Based Selloff While Silver Steals the Show
Swiss Franc's selloff is a major focus in the forex markets today, in particular, as it breaks through a key support level against Sterling. The development somewhat drags down the Euro too. The Pound and Dollar are currently the stronger ones while commodity currencies are mixed. Stock markets are...
Sterling Firm as Markets Await BoE, Asian Stocks Up
Asian markets open the week generally higher today, shrugging off the steep selloff in the US on Friday. Australian and New Zealand Dollar firm up mildly. But Sterling is so far the better one, as markets await BoE's affirmation on not using negative rates. Dollar, and Euro turn softer...
Markets Down after Roller-Coaster Rides, Dollar Upside Still Capped
January ended with an exceptionally volatility week. While GME occupied a lot of headlines, there were other important developments like vaccines, US stimulus, and central bank expectations. Sterling ended as the strongest one with traders paring bets on negative interest rate of BoE. The same went for New Zealand...
Canadian Dollar Rebounds on Strong GDP Growth, Dollar Turns Soft Despite Risk-Off
Canadian Dollar rises broadly in early US session, with the help from better than expected GDP data. Euro is also firmer on German and French GDP data. While markets are back in risk-off mode, Yen, and to a lesser extent Dollar and Swiss Franc, turn softer. As for the...
High Volatility Continues in Markets, USD/JPY Upside Breakout
Markets continues to engage very volatile trading, with US stocks and treasury yield staged strong rebounds overnight. Though, the moves are not totally followed by Mixed Asian markets. As for currencies, weakness in Australian and Canadian Dollars appear to be the more persistent near term theme. But Yen is...
Euro Overtakes Dollar Investor Sentiment Stabilized, Near Term Support Defended
Overall, the financial markets are mixed as investor sentiment stabilized. European indices are already reversing initial losses while US futures point to higher open. Commodity currencies are staying generally weak. But buying focus is turning away from Dollar and Yen, to Euro. At the time of writing, the common...
Dollar Jumps on Sentiments U-Turn, But Upside Still Capped
The sharp turn in risk sentiments overnight pushed "safe-haven" currencies generally higher. Among them, Dollar is currently outperforming both Swiss Franc and Yen. On the other hand, Australian Dollar is leading other commodity currencies lower. Euro and Sterling are mixed, with the Pound having a slight upper hand.
Technically, the...
Germany Slashes Growth Forecast, UK Tightens Border, Risk Appetite Recedes
Dollar, Yen and Swiss Franc strength again today, as dragged down by the decline in European stocks. DOW future is also losing -300pts at the time of writing. Sentiments are slightly weighed down by UK's plan to impose tougher border measures. Germany slashed this year's growth forecasts. Commodity currencies...
Dollar Mixed Awaiting FOMC, Sterling Attempting Upside Breakout
Markets are generally staying in consolidative mode for now, except that Sterling appears to be the stronger one. There is no follow through selling in Dollar so far, as traders await some guidance from FOMC statement and press conference today. Australian Dollar has little reaction to stronger than expected...
Dollar Turns Soft as European Stocks Surge, Sterling and Commodity Currencies Jump
European stocks are trading generally higher today but no equivalent strength is see in the US pre-markets. Investors seemed to be lifted by news that EU, with backing from Germany, is going to introduce restrictions on COVID-19 vaccines over sudden supply cuts by AstraZeneca and Pfizer. There is little...
Euro, Sterling and Swiss Interplay Eyed as Volatility in Stocks and Yields Shrugged
The forex markets are very quiet in Asian session today as consolidative trading continues. The sharp decline in US treasury yields overnight, and the pull back in Asian stocks, triggered little reaction in currencies. Dollar and Yen are the slightly firmer ones for today so far, while commodity currencies...
Euro Lost Upside Momentum While Stocks Pull Back after German Ifo
As European stocks turned south after initial trading, US futures also also dragged down. Overall market sentiments turned mixed after a bright start in Asia. Dollar is recovering mildly but commodity currencies remain the strongest one so far, as led by New Zealand Dollar. There is apparently some pressure...
Asia Opens in Risk On Mode, New Zealand Dollar Outperforms
It's the same old story as Asian markets open in risk-on mode. Commodity currencies strengthen broadly, but led by New Zealand Dollar this time. On the other hand, Swiss Franc, Yen and Dollar are the weaker ones, while Euro and Sterling are mixed. Trading could be subdued today with...