Market Overview
Dollar and Yen Stay Weak in Quiet Pre-Holiday Trading
Markets are generally rather quiet in Asian session today, with Thanksgiving holiday in the US in sight. Risk markets are taking a breather after the earlier rally, so do the selloffs in Dollar, Yen and Swiss Franc. Nevertheless the trio remain the weakest ones for the week. On the...
Dollar Falling Towards Key Near Term Support Levels after Mixed Data
Dollar's sell-off slowed mildly as stocks turned into consolidation ahead of Thanksgiving holiday in the US. But for now, the greenback remains the second worst performing for the week, just next to Yen, followed by Swiss Franc. Commodity currencies are strongest together with Sterling. Mixed economic data from US...
Full Risk-On Market With Upside Breakout in DOW and Oil
Markets are in full risk-on mode for now, with DOW closing above 30k handle for the first time overnight. Asian stocks are also generally higher, with strong rally in Nikkei and HSI. WTI oil prices powered through a key near term resistance level while Gold is set to break...
Euro Resilient Despite Deterioration Business Expectations, Dollar Mixed
Commodity currencies remain the strongest one for today with help from risk-on markets. Euro is also firm, shrugging off deterioration in business expectations as indicated by Ifo's data. Though, selling is focusing on Swiss Franc and Sterling for now. Dollar dropped notably earlier today but there is no clear...
NZD Surges on RBNZ Expectations, Dollar Rebound Short-Lived
Commodity currencies surge broadly today on the back of strong risk appetite, especially in Japan. New Zealand Dollar is additionally boosted after the government asked RBNZ to considering surging house prices in monetary policy moves. Dollar tried to rebound overnight, with the help from downside breakout in Gold. The...
Sterling Accelerates Higher on Vaccine News, Dollar Resumes Selloff
Dollar's selloff resumes today as stocks rallies on more positive news on coronavirus treatment. British drugmaker AstraZeneca said it's vaccine could be around 90% effective, and as many as 200 millions doses could be ready by year end. The news also lifts Sterling to be the best performer so far...
Sterling Rises on Trade Deal News, Dollar Soft
Sterling opens the week on firm footing as lifted by UK's trade deal with Canada. There's also report on increasing expectation of a deal with EU to be sealed this week. New Zealand Dollar is also firm after strong Q3 retail sales rebound. On the other hand, Dollar, Yen...
Markets Turned into Consolidation, With Conflicting Signals
Markets, including stocks, gold and currencies, were generally bounded in consolidative mode last week. News regarding coronavirus vaccines failed to give sentiments another boost. Instead, investors are waiting for fresh inspirations. Dollar ended as the worst performing one, but stayed inside prior week's range, except versus Kiwi. Euro, and...
Strong Retail Sales Data from Canada and UK Ignored
Dollar would probably end as the worst performing for the week, followed by Yen and Swiss Franc. But they're generally staying familiar range, like other major pairs and crosses. Investors are struggling to decide on a direction, despite the news of vaccines, or the split between US treasury and...
Consolidations Continue in Mixed Markets, Dollar Downside Breakout in Favor
Consolidation trading continues with US stocks closing mildly higher overnight while Asian markets are mixed. Gold also lost some downside momentum just ahead of 1850 key support level. In the forex markets, range trading continues in general with Aussie and Sterling gaining some grounds today. Yen and Canadian are...
Dollar Still in Recovery Despite Rise in Initial Jobless Claims
Dollar rises mildly today despite the first rise in initial jobless claims in five weeks. Euro and Swiss Fran are following closely. Global markets are still engaging in consolidative trading, with mild weakness in European equities and US futures. Australian Dollar is leading New Zealand Dollar lower. Still, there...
Dollar Recovers in Consolidative Markets, Coronavirus Cases and Restrictions Weigh on Sentiments
Consolidative trading continue as Dollar rises in general in Asian session together, followed by Swiss Franc. On the the other hand, Sterling is reversing some of this week's gains together with Aussie and Kiwi. News on coronavirus vaccines are unable to give investor sentiments further lift. Instead, concerns are...
Yen Mildly Higher in Subdued Markets, Dollar and Euro Soft
Dollar and Euro are both trading mildly lower in a relatively subdued, consolidative markets today. Yen and Kiwi are, on the other the stronger ones. There is no clear sing of range breakout yet. Pfizer provided another piece of upbeat news on coronavirus vaccines. The final results from late-stage...
Markets Turned into Consolidations, Gold Weakness Might Help Dollar
The financial markets generally turned into consolidation for now as vaccine boost faded. Commodity currencies are mildly softer in Asian session, together with Dollar. On the other hand, Swiss Franc and Yen are the firmer ones, together with Sterling. For the week, Dollar is the weakest one for now,...
Dollar Recovering as Stocks Digest Gains, But European Majors Stronger
Global stock markets are paring some of yesterday's strong gain, together with slight pull back in oil price. The development translates into mild weakness in commodity currencies. Yet Dollar is not gaining much for now, as it's overshadowed by the rally in European majors and Yen. But for now,...
No Range Breakout in Dollar Yet Despite Vaccine Optimism
Vaccine optimism pushed DOW to new record high overnight and positive sentiment continues in Asian session. Dollar, Yen and Swiss Franc are the weaker ones, while commodity currencies are strongest. Though, major pairs and crosses are generally bounded inside last week's range. That is, Dollar and Yen are holding...
Stocks Cheer Moderna’s Vaccine News, Dollar Mixed
Global investor sentiments are boosted by more good news on coronavirus vaccines. Moderna said it's vaccine was 94.5% effective in preventing COVID-19, based on interim data from a late stage trial. Major European indices are trading up while DOW future is gaining over 450 pts. In the background, solid...
Sentiments Supported by Solid Japan and China Data, Dollar and Yen Soft
Dollar, Yen and Swiss Franc are trading generally lower as the week starts with solid risk-on mode. In particular, Nikkei is up more than 2% after release on stronger than expected GDP data. A batch of solid Chinese data also provides support to overall sentiments. New Zealand and Australian...
Vaccine News Solidify Risk On Mode; But Yen Selling Lacks Conviction
News of coronavirus vaccine readiness was the biggest market mover last week, solidifying near term risk-on sentiments. Subsequent price actions in major global indices were clearly corrective looking, setting the stage for further rally. Swiss Franc and Yen ended as the worst performing ones, followed by Canadian Dollar, which...
Yen Extending Recovery as Treasury Yields Dip
Yen appears to be trying to reverse the losses posted earlier this week, as helped by pull back in treasury yields. US 10-year yield is trading at around 0.88 a the time of writing, well below this week's high at 0.975. German 10-year yield is also back pressing -0.55...