Market Overview
Dollar Firm on Risk Aversion, Oil Stays Pressured
Dollar and yen are staying in the driving seats for the week so far, on risk aversion. After the historic horrors of the May WTI oil contract, the markets are now into June contract, which is down at around 10. Asian markets are trading generally down, following the US....
Sterling and Commodity Currencies Pressured as Oil Rout Continues
Risk aversion stays in the markets today as WTI crude oil May future is back in negative territory above a brief stay above zero. Investors also turned cautious on news about critical health condition of North Korean leader Kim Jong-un. Yen and Dollar continue to trade as the strongest...
Negative Oil Price Prompts Risk Off, Dollar and Yen Jump
Markets are generally back in risk aversion, as selloff was sparked by historic move in oil prices. Yen and Dollar strengthen broadly as a result. Canadian dollar was weighed down slightly too but selloff is limited so far. Instead, New Zealand and Australian Dollars are the weakest for now....
Euro Mixed While Risk Markets Dragged By Oil Price, No Clear Direction For Now
Markets are in mild risk averse mode as oil price tanks further. But losses are limited so far based on recent standard. Major currency pairs and crosses are also stuck in Friday's range, except that New Zealand Dollar is lifted by lockdown exit. Canadian Dollar is the weakest one...
Nikkei and Yen Lower as Japan’s Export Hit Hard by Coronavirus
Markets are rather quiet in Asia today. Nikkei is pressured after poor trade data from Japan. But movements in other major Asian centers are muted. New Zealand Dollar appears to be lifted by the country's plan to exit top level lockdown. Dollar is currently the second strongest. On the...
Yen Ended Higher, Dollar Mixed, Despite Risk Rally
Global stock markets were some what supported by talks of staged exit of coronavirus lockdown. There was optimism that finally a cure for the virus too. Nevertheless, the extended rebound in stocks were not much reflected in the currency markets. Yen ended the week as the strongest one, followed...
Markets to End on a High Note? Yen and Oil Might Not Agree
Global markets are set to end the week on a high note. There is optimism that Gilead's coronavirus drug remdesivir could be the cure for the coronavirus. Also, traders responded positively to US President Donald Trump's three-stage reopening plan. Commodity currencies are trading generally higher today. Dollar, Euro and...
Staged Lockdown Exit and March Chinese Data Lift Sentiments, Dollar Softens
Dollar weakens mildly again as risk appetite is lifted by the three-stage plan to exit lockdown in the US. While Q1 GDP contraction in China was deeper than expected, March data also provided some optimism of return to normal. As Asian markets rebound, Yen and Swiss Franc are following...
Dollar Shrugs Poor US Data, Euro Vulnerable to Another Selloff
Global stock markets are mildly firmer in consolidative mode today, with slight gains in major European sessions. Poor US economic data triggered little reactions. Dollar's rebound attempt is somewhat stuck below yesterday's high for now, while Canadian Dollar is recovering. For now, New Zealand Dollar is the weakest one...
Dollar Rebound Lacks Conviction Yet, Aussie Shrugs Job Data
Dollar stays broadly firm in Asian sessions after the recovery overnight. There were signs of bottoming in the greenback but the rally remains unconvincing with no follow through buying yet. Australian and New Zealand Dollars are currently the weaker ones. Better than expected job data is giving little support...
Dollar Rebounds Further on Oil Weakness and Poor US Data
Dollar is striking back today as market turns into risk averse mode, in particular after poor US economic data. Mild weakness in oil price is also weighing down on sentiments. For now, the greenback is the strongest one, followed by Yen and Swiss Franc. Australian Dollar is leading commodity...
Yen Leads Dollar Higher as Risk Rebound Lost Steam
Dollar and Yen recover mildly today as risk appetite somewhat lost steam again. Australian and New Zealand Dollar turn softer. The pattern of risk-on risk-off is rather common in corrective markets. There are signs of improvements regarding the coronavirus pandemic. But with over 2 millions accumulated infections and 126k...
European Majors Rise on Partial Lockdown Exit, Dollar Decline Continues
Dollar's decline continues today on improving risk sentiments. In particular, it's back under pressure against Euro and Swiss Franc despite earlier recovery attempt. Canadian Dollar is not far away with drag from weakening oil price. On the other hand, European majors are generally stronger today, partly with help from...
Dollar Extends Decline as Coronavirus Figures Trend Down, Gold Shines
Dollar is staying under pressure as traders are back from holidays. Risk sentiment is relatively steady with new global coronavirus cases and deaths starting to trend down. The improvements are particularly evident in Spain and Italy since the start of April. There is also hope that the worst is...
Dollar and Loonie Pressured after Poor Job Data
Canadian and US Dollars are both trading as the weakest ones today, after release of job data. US initial claims stood over 6m level for the second week while Canada lost more than 1m jobs in March. Meanwhile, Australian Dollar is trading as the strongest one, following higher stock...
Markets Steady Without Sustained Risk Buying, Aussie Remains Firm
Markets are steadily mixed in Asian session today. US stocks rose notably overnight but major indices actually closed below Tuesday's highs. No apparent follow through risk-on in seen in Asia too. Overall, Yen and Dollar remain the weakest ones for the week. Australian Dollar leads commodity currencies higher. Major...
Euro and European Stocks Soften as EU Fails to Agree on Coronavirus Rescue
Global markets lack a clear direction today. European stocks are generally lower for the moment after EU failed to agree on coronavirus rescue stimulus. But US futures point to higher open. In the currency markets, Sterling is the strongest one for now as Prime Minister Boris Johnson is said...
Dollar Recovers as Risk Rebound Lost Steam, Aussie Lower after Rating Outlook Downgrade
Dollar recovers mildly today as stock rebound somewhat lost momentum. In particular, DOW closed lower after gaining nearly 1000 pts overnight. Asian markets turned mixed despite rally in Nikkei. Investors could be awaiting the results of OPEC++ decision on production cuts before taking another move. Yen is following Dollar...
Dollar Selloff Extends as Stock Rebound Gathers Momentum
Global stock market rebound continues today on optimism the world is finally seeing the coronavirus curve flattening. As US futures point to another day of high open, current rebound is starting to look sustainable. In the currency markets, Australian Dollar continues to lead the way higher, followed by New...
Aussie Follows Stocks Higher, While RBA Stands Pat
Australian dollar jumps broadly today after RBA kept monetary policies unchanged as widely expected. Aussie is additionally helped by the strong rally in US stocks overnight, even though the rise in Asia markets is relatively muted. Also, China, the origin of the coronavirus pandemic, is set to end the...