Market Overview
Sterling Reverses after GDP, Dollar Ignores Jobless Claims and CPI
Sterling suffers notable selling today after slightly weaker than expected Q3 GDP data. Though, pull back against Euro could be a bigger driver for the profit-taking. Elsewhere, better than expected US job data and worse than expected Eurozone production data were generally ignored. For now, Aussie is following the...
Yen Paring Losses as Markets Turn to Consolidation, Oil Faces Resistance
The financial markets are staying in consolidative mode. Asian stocks are mixed in tight range, following the mixed closes in US overnight. Gold is trading sideway ahead of key near term support. In the currency markets, Yen and Swiss France are mildly higher, paring some of this week's losses....
New Zealand Dollar Rises after RBNZ, US Yield Resilient
New Zealand Dollar surges broadly today as markets see that RBNZ has less need to cut into negative next year. Kiwi's strength is somewhat taking Aussie higher too. On the other hand, Sterling is paring some of yesterday's strong gain while Dollar is following as second weakest for now....
Sterling Surges on Johnson’s Defeat in Lords, Markets Mixed Elsewhere
Sterling surges broadly today, as traders apparently cheers Prime Minister Boris Johnson's defeat in the Lords regarding his internal market bill. But the forex markets are relatively quiet elsewhere. New Zealand Dollar is currently the second strongest, following the Pound. Swiss Franc is the weakest, followed by Canadian and...
Markets Mixed as Vaccine Boost Fades, Dollar Support by Yields
The forex markets turned mixed in Asian session today as the boost from coronavirus vaccine faded quickly. The close in US stocks overnight was rather disappointing and DOW ended up just 2.95%. NASDAQ has indeed closed with -1.53% loss. In the currency markets, Yen is trying to recover but...
Yen Selling Takes Off as World in Euphoria on Coronavirus Vaccine News
The world, at least the financial markets part, is in euphoria today on news that tens of millions doses of coronavirus vaccine are ready this year, to pull it out of the coronavirus pandemic that took away over 1.2 millions lives. DOW future is in massive rally, up around...
Yen and Dollar Heading Lower as Asian Markets Rally
Yen and Dollar weaken generally in Asian session today as strong risk appetite continues. Notable rally is also seen in gold today, extending its near term rally. New Zealand Dollar is currently leading other commodity currencies higher. European majors are generally mixed. Focus would turn to the neverending Brexit...
Stocks Ready for Upside Breakout, But Yen Crosses Seem Not Agreeing
Politics aside, stock investors were the biggest winners of US presidential elections, while Dollar holders were the losers. The greenback ended as the worst performing one, followed by Yen by a wide margin. Australian Dollar shrugged of RBA easing and ended as the strongest, leading other commodity currencies. European...
Dollar Selling Continues Despite Solid NFP, Euro Surges
Dollar's selloff continues today despite stronger than expected employment data. Though, selling focus has turned to against Euro and Swiss Franc. Australian Dollar is taking a breather, together with global stock markets. There is no doubt that Dollar will end as the worst performing one for the week, followed...
Dollar Remains the Weakest While US Stocks Could Make New Record High
Dollar's decline is slowing a little bit in Asian session but there is no sign of a turnaround. The greenback remains the worst performing one for the week, followed by Yen, on strong risk-on markets. Australian Dollar is the strongest one, followed by other commodity currencies. FOMC meeting overnight...
Dollar Selling Takes Off as Stocks Extend Powerful Rally
Dollar's selloff finally takes off as market enters into US session today. While the final result of US presidential election is still unknown, investors couldn't wait to push stocks higher. At the time of writing, Canadian Dollar is trading as a distant second weakest. Sterling is also relatively weak...
Stocks Surge on US Elections, Dollar and Yen Weak But No Follow Through Selling Yet
Movements in the forex markets in reaction to the US elections were relatively indecisive, comparing to the strong risk-on moves in the stocks. There is no clear follow through selling in Dollar and Yen so far, while commodity currencies are struggling to extend gains. Focuses will now turn to...
Yen and Franc Rise as US Election Has No Clear Winner Yet
Volatility continues today as US Presidential election vote counts are released. The final results are unknown at this point, narrowed down the results of just a few states. At the time of writing, Yen is the stronger one, followed by Swiss Franc. Sterling and Kiwi are the weaker ones....
Roller-Coaster Ride Started Even Before US Election Results
Much volatility was seen in the financial markets in the past 24-hours, as traders were pre-trading US elections results. At the time of writing, the race between Donald Trump and Joe Biden is very tight, totally different from the picture portraited by most main steam media. Overall picture in...
Dollar Broadly Sold Off as Markets in Full Risk-On Mode
Global stocks surge sharply as investors seem to be very optimistic on the result out of US elections. Major European indices are currently up around 2% while DOW future is up 400 pts. Dollar is sold off sharply, together with Yen and Swiss Franc. Australian Dollar left RBA's rate...
Australian Dollar Weakens after RBA Rate Cut, Canadian Rebounds with Oil Price
Asian Markets rebound notably today, following the strong close in US overnight. Canadian Dollar staged a U-turn, following the path of oil price. Australian Dollar is trading generally lower today following RBA's easing announcement. Yet, downside is relatively limited, expect versus a few. Dollar has turned mixed, together with...
Euro and Dollar Turn Mixed as Global Stocks Rebound
Commodity currencies are taking control into US session with help from rebound in European indices. DOW future is also currently up around 450 pts. Canadian Dollar came out of the shadow of steep decline in oil prices, leading Aussie and Kiwi. At the time of writing, Sterling is the...
Dollar Firm into a Week of Election, Fed and NFP
Dollar and Yen strengthen in general in Asian session today even though risk sentiments are not bad, as seen in rally in major indices. Solid data from China was enough to offset the pessimism over lockdowns in Europe, and the steep decline in oil prices. Sterling is currently the...
Key Levels to Watch as US Presidential Election Looms
Global equities tumbled notably last week, partly as coronavirus spread was hitting new record highs. Also of the same importance, US investor had lightened up their positions in preparation for the Presidential elections. Yen and Dollar surged broadly to end as the strongest one. Euro was the worst performing,...
Traders Calm ahead of Pre-Election Weekend, Dollar Pares Gains
Investors are rather calm just ahead of the pre-election weekend. European indices quickly pare back initial losses, while DOW future is down not as much before open. Dollar is also giving up some of this week's gains, despite pretty solid personal income and spending data. On the other hand,...