Market Overview
Risk Rally Pauses in Asia, Forex Markets Await Next Move
Asian markets are relatively quiet as another week starts. There is no follow through from Friday's strong rally in the US. Trade data from China released over the weekend also provide little inspirations. There is also practically no reaction to the massive global "Black Lives Matter" protests, nor intensifying...
Investors in Euphoria, Betting on a V-Shaped Recovery
The global financial markets were basically in euphoria last week. Lockdown restrictions continued to be eased. ECB provided more stimulus by expanding the crisis purchase program. Surprised growth in US and Canadian employment in May argue that the worst of coronavirus pandemic is already behind us. More importantly, investors...
Dollar Trying a Rebound as NFP Grew in May, Yen and Franc Weaken
Dollar attempts to rebound after non-farm payroll employment unexpectedly rebounded while unemployment rate fell. But strength is mainly centered against Yen, Swiss Franc, and to a lesser extent Euro. Commodity currencies continue to be the strongest ones, together with Sterling. Canadian Dollar also firms up on job growth but...
Dollar Stays Weak as Risk Takes a Breather, NFP Unlikely to Rescue
Dollar and Yen remain the overwhelmingly weakest ones for the week even though risk appetite seems to be taking a breather again. In particular, the greenback suffered steep selling after Euro bulls cheered ECB's PEPP expansion. The common currency is one of the strongest one this week, just next...
Euro Welcomes ECB’s PEPP Expansion, Resuming Rally
Euro strengthens again after ECB announced expansion of its crisis asset purchase program PEPP. Euro is also taking Swiss Franc mildly higher too. On the other hand, Sterling is the weakest one as pressured by the selloff against Euro. Canadian Dollar is following as the second weakest for the...
Euro Softens as Markets Await ECB, Dollar in Weak Recovery
Dollar recovers mildly in general as recent selloff is losing some momentum. The recovery is also accompanied by mild retreat in Euro as well as some weakness in Gold. Though, the strength of Dollar's recovery is far from being strong enough to warrant short term bottoming yet. As for...
Investors Sentiment Resilient, But Forex Markets Turning Mixed
There is not much change in the global investor sentiments today, as stock markets continue to rally on lockdown exit optimism. Much better than expected job data from the US also provide something to cheer. Though, in the currency markets, recent moves appear to have been exhausted. Australian Dollar...
Risk Appetite Lifted Further by China Data
Risk appetite continues in Asian session, with help from positive data from China. China's economy appears to be on track for recovery even though the road would remain bumpy. In the currency markets, New Zealand Dollar is leading Australian Dollar higher, followed by Euro. Dollar, Yen, Swiss Franc continue...
Focus Turns to Yen and Franc Selling as Risk Rally Continues
Global stock markets continue with impressive rally today, with focuses on back-to-normal optimism. Germany's DAX is even more impressive, with more than 3.7% against at the time of writing, after a three-day break. It's supported by news that Chancellor Angela Merkel's ruling coalition is working on another massive stimulus...
Aussie Firm as RBA Stands Pat, Risk Appetite Continues
Risk appetite continues today with mild strength in Asian markets, following the slightly higher close in US overnight. It seems that investors completing ignoring the unrest in the US, as well as its tension with China. In the currency markets, Sterling is currently the strongest one for today, followed...
Euro Loses Some Upside Momentum While Risk Appetite Continues
Risk appetite remains generally firm in European session but trading has turned a bit subdued with France, Germany and Swiss on bank holiday. Dollar is trying to recovery entering into US session, but remains one of the weakest, along with Yen and Swiss France. Australian Dollar is leading commodity...
Aussie Surges as Markets in Full Risk-On, All Risks Shrugged
Risk-on mode continues in Asian markets today. Investors, in particular in Hong Kong markets, basically shrugged off US President Donald Trump's announcements regarding China. There is also no reaction to the unrest in US. Instead, traders continued to cheer economy reopening, as well as positive data from China. Australian...
Old and New Risks Ignored So Far, Dollar to Decide Reversal or Not Soon
Some old and new global risks, other than coronavirus, have been (re-)emerging in recent weeks. US-China relation is heading another step towards cold war with US President Donald Trump's new set of measures against China announced on Friday. Unrest that started in Minneapolis quickly spread from Los Angeles to Miami...
Euro Power Continues, Follow by Yen on Mild Risk-Off
Markets are in mild risk off mode before weekly close, awaiting US President Donald Trump's "interesting" and "powerful" measures on China. Though, this time, Euro is boosted as the strongest one, followed by Yen. Dollar and Swiss Franc are the weakest for today. Overall, Euro is staying as the...
Dollar Weakens, Stocks Turn Cautious, Awaiting Trump’s Announcement on China
Dollar remains generally weak in Asian session, with notable selloff against Yen too. Markets generally turned cautious as US President Donald Trump is set to announce his new China policies on Friday. This is in response to China's passing of national security law to forcibly impose on Hong Kong....
Dollar Mildly Lower after Poor Durable Orders, Euro Extending Gains
Dollar is trading a touch softer in early US session after poor durable goods orders. Euro, on the other hand, is trying to extend the EU stimulus triggered gains. Overall, movements in the forex markets today are relatively limited. Yen and the greenback remain the weakest for the week...
Asia Mixed With Eyes on US-China Tensions Over Hong Kong
Asian markets continued to ignore risk rally in US and trade mixed today. Sentiments are mildly weighed down by US-China tensions over Hong Kong. But reactions are so far limited. Euro and Dollar are mildly firmer in Asian session but major pairs and crosses are staying inside yesterday's range....
Euro Flies High on EU New Generation Recovery Plan
Euro surges broadly today as traders more than welcome the new EU pandemic recovery plan. Canadian Dollar is currently the second strongest while the greenback is the third. Strength in Euro appears to have prompted some selloff in Sterling as well as Australian Dollars. The Pound is somewhat weighed...
Dollar Recovers as Markets Turned Mixed, Awaiting Trump’s Very Powerful Response to China
The forex markets turned mixed today, together with major Asian indices. Dollar and Yen are trying to recover but there isn't any conviction in buying. Both remain the worst performing ones for the week so far. News regarding lockdown exits and coronavirus vaccines were generally welcomed. But investors are...
Coronavirus Vaccine News Boost Risk Appetite Again, Dollar in Free Fall
Risk appetite is back driving the global financial markets, after biotech company Novavax said it has started phase 1 human trials of coronavirus vaccine candidate. DOW future points to a breakout from recent rally for rally resumption. Dollar, Yen and Swiss Franc are decisively sold off across the board....