Market Overview
Commodity Currencies Weaken as Risk Rally Lost Momentum, Sterling Shrugs Brexit Deadlock
Australian Dollar weakens generally today and takes commodity currencies lower too. Risk-on markets have taken a halt this week, with some notably pullbacks in the US markets overnight. But Asian markets are just mixed. European majors are generally firmer for today, as led by Sterling. Brexit negotiations deadlock is...
Sterling Regains Ground as Dollar Lacks Follow Through Buying
Markets are in mild risk-off mode today but losses are so far limited so far. Dollar attempts for a rebound but upside is so far limited. The greenback is somewhat outshone by Sterling, which is regaining so strength, in particular against Euro and Yen. Australian Dollar is currently the...
Aussie Lower as Melbourne Back in Lockdown, RBA Stands Pat
Australian Dollar trades mildly lower today as Asian stocks outside China are paring gains. Also, as coronavirus virus cases surged again in Victoria state, Melbourne is back in lockdown. Meanwhile, RBA stands pat as widely expected and provide little inspirations. As for now, commodity currencies are also weak while...
Markets in Full Risk On, Dollar Tumbles While Euro Surges
Powerful rally in Chinese stock markets push global equities sharply higher today. Europeans indices are all in black, DOW future is up nearly 400 pts while NASDAQ is set to extend record run. Yen and Dollar are both the worst performing ones in risk-on markets. Euro is the strongest...
Euro Jumps as China Markets Extend Powerful Rally
Dollar and Yen are under pressure today as Asian markets opened the week with strong rally. In particular, Chinese stocks are extending last week's powerful rise, taking Hong Kong equities up too. In the currency markets, though, Euro is currently the largest beneficiary and is so far the strongest....
Markets Welcome Solid Economic Data and Ignored Coronavirus Numbers
Markets looked rather indifferent to the resurgence of coronavirus infections. Daily new cases surged to new high above 200k. Total cases broke 11m while deaths is closing in to 530k. But traders and investors couldn't care less. Instead, sentiments were lifted by hope of recovery ahead, with Q3 already...
Sentiments Supported Further by China Services Data, Yen and Dollar Soft
Markets are generally trading in risk-on mode today. NASDAQ surged to new record highs overnight following solid US job data. Better than expected China services data continue to support sentiment. Yen, Dollar and Euro are set to end the week as the worst performing ones while Sterling and commodity...
Strong NFP Lifts Stock But Not Dollar, Yen Weakens
Strong employment data from the US boosts market sentiments as DOW future is up over 400 pts at the time of writing. European indices are also extending gains. The greenback however, shrugs of the data and it's trading as the second weakest for today, next to Yen. New Zealand...
Sterling Could Steal the Show From Dollar as Focus Turns to NFP
Dollar and Yen are both trading as the weakest ones for the week for now. FOMC minutes released overnight gave little support to the greenback, nor that ADP job number and ISM manufacturing. Focus is turning to non-farm payrolls report to be released today. Sterling's roller coaster ride continues...
Euro Tumbles in Indecisive Markets, Mildly Risk-off
Markets continue to trade in rather indecisive mode today. DOW futures point to mildly lower open, following European stocks, and is getting not support from solid ADP job data. Yen appears to be rebounding but it's kept well above near term resistance level against others. Swiss Fran, on the...
Yen Up after Poor Tankan, Mixed Markets Await Guidance
The overall markets remain rather mixed so far. Rebound in US stocks overnight didn't carry forward to Asian session. Nikkei is weighed down by poor Tankan survey data. Dollar's rally attempt was somewhat knocked down by up trend resumption in Gold. Recovery in oil prices also dragged down the...
Dollar Firms Up But Yet to Break Resistance Against Weakening Euro
Dollar continues to stay firm in early US session as supported by strength against Sterling, Yen and to a lesser extent Canadian. Yet, the moves are rather indecisive elsewhere. The greenback remains bounded in range against Euro and Aussie, and even Swiss Franc. Euro receives no support from stronger...
Yen and Franc Weaken Broadly, Euro Strength Uncertain
Yen and Swiss Franc are trading as the weakest ones for the week so far, partly due to the strong rebound in stock markets overnight. Sterling is following as the next worst performing as traders continue to price in Brexit uncertainties. Yet, it's unsure which currency is benefiting most...
Euro Lifted By Improve Confidence, and Tumbling Sterling
Sterling tumbles broadly today, appeared to be weighed down by UK Prime Minister Boris Johnson's plan to double down on public investments. The selloff is particularly apparent against Euro, as the latter was lifted mildly by improvements in Eurozone confidence indicators, and better than expected Germany CPI. The developments...
Dollar Turned Mildly Softer in Subdued Trading, Import Data Lie Ahead
The markets opened the week with mild risk aversion, in response to continuously surging global coronavirus cases. Japanese stock was additionally weighed down by poor retail sales data. But outside of Japan, losses are relatively limited. European indices have indeed opened mixed only while US futures are slightly up....
Risk Reversal Building Up on Coronavirus and US-China Tensions
The conditions for risk reversal continued to build up last week and somewhat intensified. On the one hand, daily new coronavirus cases surged to new high for the world world, as well as for the US. Daily global new deaths were steady and the US death tolls trended down....
Sterling Dips, Swiss Franc Rises as Weekly Close Approaches
Sterling appears to be under some selling pressure today, without any special driver. A possible reason is some repositioning ahead of next week's Brexit talks. Meanwhile, Yen appears to be regaining some growth, together with Swiss Franc. There is some upside potential on risk-off traders ahead of the weekly...
Markets Range Bound as Consolidations Continues, Coronavirus Ignored
The markets continue trade in consolidative mode today. US stocks reversed earlier loss to closed higher overnight, ignoring the surge in coronavirus cases. Asian markets are mixed, with mild weakness in Hong Kong HSI. it's weighed down by US Senate's unanimous passage of a bill that could lead to...
Dollar Stays in Familiar Range Despite Rebound Attempt, Markets Turned Mixed Elsewhere
The financial markets turned into mixed mode today. While European indices open broadly lower, they quickly reversed early losses and turned positive. US markets open lower again but loss in DOW is relatively limited. Dollar is trying to extend yesterday's rebound against European majors and Yen. Yet, it struggles...
Dollar Rebounds in Risk-off Markets, Underlying Strength Still in Question
Dollar rebounds broadly as markets turned into risk-off mode overnight. It remains firm in quiet trading in Asia, with China and Hong Kong on holiday. The movements in the forex markets are not decisive enough yet. Major pairs and crosses are back inside last week's range. Job and durable...