Market Overview
Chaotic Markets With Many Themes Going On
It's a rather chaotic week with many themes developing. The first October surprise of US President Donald Trump's coronavirus infects seemed to have fade as he's back in election campaign. Just as challenger Joe Biden appeared to be widening lead, according to mainstream polls, another October surprise surfaced with...
Sterling Range Bound after Volatility, Brexit Talks Still Going to Continue
Sterling is a focus today in otherwise relatively quiet markets. Brexit jitters triggered much volatility in the Pound. But it's staying in range as, after all, negations between UK and EU will still continue next week, probably with some intensifications. As for the week, Australian Dollar remains the weakest...
Dollar & Yen Firm, But More Needed to Prove Their Strength
Dollar and Yen remain generally firm in Asian session while Australian and New Zealand Dollars are soft. US stocks pared back much of the initial losses overnight with DOW ended nearly flat. Overall sentiments are also stable and mixed in Asia only. Coronavirus infections and politics, like US election...
Safe Haven Flows Back to Dollar, Yen and Bonds
Risk aversion is currently in driving seat in the markets today. In the US, hope of fresh fiscal stimulus fades for now, most likely not until after elections. In Europe, countries are going back into lockdowns as coronavirus cases hit records. Negative sentiment drive global stock indices lower and...
Aussie Weakens Broadly as RBA Hints on Further Easing, Risk Sentiments Turn Soft
Australian Dollar drops broadly today after RBA hints at more monetary easing next month. It's also weighed down by mixed job data, as well as weaker risk sentiments. It now appears that US politicians won't agree to a new stimulus deal before election. US stock indices struggled to get...
Sterling Powers Up after Initial Dip, Dollar Recovery Fades
Sterling had a roller coaster ride today, dropped notably on concerns over the deadlock in Brexit negotiations. Though, it then rebounded on talks that UK is still going to engage in talks after its self imposed mid-October deadline. Additional the country avoided a national coronavirus lockdown. The Pound is...
Dollar Struggling to Extend Rebound in Indecisive Markets
The markets are overall indecisive or the moment. US indices retreated mildly just ahead of record highs overnight. Mild softness is carried forward to Asian session. G20 finance leaders are seeing a less negative outlook for the global economy. Yet, the path forward remains highly uncertain depending on the...
Sterling Softens on Restrictions and Brexit Deadlock, Aussie Retreats Further
Sterling softens broadly today as UK unemployment rate rose more than expected while the part of the country is returning to restrictions. Additionally, there appears to be no progress on Brexit negotiation ahead of the EU summit later this week. Australian Dollar is the second weakest as China moves...
Dollar Recovering as J&J Paused Vaccine Study, Aussie Tumbles
Dollar is trying to recover in Asian session while Aussie tumbles broadly. Sentiments appear to be turning cautious on news that Johnson & Johnson paused coronavirus vaccine study due to an unexplained illness in a participant. UK also started a tiered system of fresh coronavirus restrictions. WTI crude oil...
Yen Rebounds in Quiet Markets, Politics to Drive the Week
Asian markets are trading in mixed most, decoupling from strong rally from the US on Friday. The forex markets are also steady. Yen is trading broadly higher and could be riding on the rebound against Dollar to strengthen elsewhere. Dollar is the currently the second strongest for today but...
Dollar Tumbled as Investors Hungry for Risks, Down Trend Resuming?
Yen and Dollar ended the week as overwhelmingly the worst performing ones. Despite all the jitters regarding US President Donald Trump's coronavirus infections, stimulus talks stalemate, major stock indices ended the week strongly higher. Yen is additionally pressured by strong rally in treasury yields too.
On the other hand, Canadian...
Canadian Powers Up on Job Data, Dollar Tumbles on Risk-on Markets
Canadian Dollar strengthens against most major currencies in early US session as boosted by stronger than expected job data. That comes in the back ground of this week's strong rally in oil price too. On the other hand, Dollar is under broad based pressure as global stock markets are...
Canadian Dollar Surges With Oil Price, Job Data Eyed
Canadian Dollar surged broadly overnight, following the strong rally in oil prices, partly due to strike in Norway which affect as much as one million barrels a day of crud oil production. The Loonie is also the strongest one for the week so far, awaiting employment data for the...
Euro Heads Lower in Indecisive Markets, Aussie Firmer
Commodity currencies are the main drivers in the markets today, as Australian Dollar leads others higher. European majors, on the other hand turn weaker as led by Euro. Dollar and Yen are mixed for the moments, awaiting the next move in risk markets. Global stock markets seem to have...
Yen Stays Pressured on Surging Stocks and Yields, Dollar Keeps On Defending
Yen continues to feel much selling pressure, partly thanks to strength in treasury yields, and partly due to the strong rebound in US stocks overnight. Asian markets turned mixed, however, with Hong Kong and Singapore in slight red. New Zealand Dollar suffered notable selling on news that RBNZ is...
Yen Plummets Again on Surging Yields, Dollar Awaits FOMC Minutes
Yen had a U-turn today and breaks near term support level against Dollar. Resilience in treasury yield is seen as a factor for Yen's weakness. After a brief set back yesterday, US 10-year yield looks set to extend recent rally through 0.78 handle. German 10-year yield is also trying...
Dollar Rebounds, Stocks Reversed as Trump Pulled Out of Stimulus Talks Abruptly
Dollar and Yen staged strong rebounds overnight, as stocks tumbled after US President Donald Trump halted stimulus talks abruptly. Though, markets somewhat stabilized in Asian session. Swiss Franc and Euro remain the strongest ones for the week for far but both have already pared back much of earlier gains....
Sterling and Aussie Turn Weaker, Dollar and Euro Mixed
Sterling is currently the worst performing one today so far, on the never-ending concerns of coronavirus infections and no-deal Brexit risk. Australian Dollar is closely following as second weakest after RBA indicated more easing ahead to support employment. On the other hand, New Zealand Dollar is currently the strongest,...
Aussie Steady after RBA, Dollar Weak Despite Surging Yields
The forex markets are relatively steady in Asian session today, despite strong moves in stocks and treasury yields overnight. Australian Dollar is treading water after RBA left monetary policies unchanged. It's clear that the central is paving the way for more easing to support the job market. But the...
Euro Firmer on Data, Aussie Cautious ahead of RBA
Dollar and Yen remain generally weak today with main focuses on coronavirus infections news. It's still unsure if US President Donald Trump could be discharged form hospital today, but news regarding his coronavirus is so far positive. European Commission President Ursula von der Leyen had been tested negative for...