Market Overview
Yen and Swiss France Consolidate ahead of Weekend, Await Coronavirus Outbreak Developments
Sterling remains firm today and continues to trade as one of the strongest after yesterday's BoE hold. Yen and Swiss Franc turn mildly softer but stay as two of the strongest too, on risk aversion. Commodity currencies turned mix, digesting this week's sharp looses. New Zealand Dollar is the...
Sterling Rebounds after BoE Stands Pat, Coronavirus Fears Remain
Sterling surges broadly today after BoE left interest rates unchanged at 0.75%. Only two policymakers, the usual ones, voted for a cut, without additional dove. Swiss Franc and Yen follow as next strongest on coronavirus fears. An Italian cruise ship with 7000 people is held off the coast for...
Risk Aversion Back after a Breather, Coronavirus Cases Top 7700
Risk aversion is back in the markets after taking a breather yesterday, as there remains no sign of containment of China's coronavirus. Yen and Swiss Franc are the strongest ones today, with Yen pressing this week's high against other major currencies. Dollar is mixed shrugging off the non-eventful FOMC...
Dollar & Yen Firmer as Investors Hold Their Hands on Coronavirus Uncertainty
While risk sentiments stabilize today, there is no clear momentum of any meaningful recovery in global stock markets. Investors remain on guard against new developments of China's coronavirus outbreak, which confirmed cases exceed 2003's SARS already. Yen and Dollar trading generally firmer today, as in early US session. Though,...
Aussie Recovers after CPI as Markets Stabilized, FOMC Watched
Sentiments continue to be relatively stable in Asian session today. Hong Kong stocks are back from holiday and tumble sharply. But Nikkei and Singapore Strait times are having mild recovery. Gold is back below 1570 level and WTI crude oil is back at 54. In the currency markets, Australian...
Sterling Under Pressure While Market Sentiments Stabilized for Now
Risk sentiments stabilize some what today as markets are digesting the impact of China's coronavirus outbreak. But there is no clear sign of a turn around in the markets yet. Commodity currencies are just consolidating at low levels. Yen is also staying in tight range close to this week's...
Coronavirus Fear Continues as Confirmed Cases Surge, Forex Markets Taking a Breath
Risk aversion continues in Asian markets as outbreak of China's coronavirus shows now sign of slowing. But the moves in the currency markets seem to have passed a climax. Commodity currencies are consolidating in tight range close to week lows now. Yen, Swiss and Dollar are also digesting some...
Global Stocks in Crash Mode on Coronavirus, Commodity Currencies Pressured
Global stock market could be considered in crash mode as worries over China's coronavirus continues to intensify. Confirmed infections in China jumped to 2835, according to latest information from state media. Death toll continues to stand at 81. WHO Director-General Tedros Adhanom Ghebreyesus is heading to Beijing to offer...
Coronavirus Worries Intensify; Stocks, Oil & Yuan Fall; Yen, Swiss & Gold Jump
The holiday market in Asia is in deep risk aversion as worries on China's coronavirus intensified, after surge in confirmed cases and death tolls. Yen and Swiss Franc jump notably while New Zealand and Australian Dollars weaken. Risk aversion is also clearly seen as gold gaps up, oil price...
Markets Sold Off on Coronavirus Worries, Dollar Momentum to be Capped by Yen Strength
China's new coronavirus overshadowed central bank activities last week and prompted global risk aversion. At the timing of writing, death toll jumped to 41 while more than 1300 people have been infected globally. The virus has already spread from Wuhan to other major cities in China, and globally to...
Euro and Sterling Dip after PMIs, Dollar and Canadian Firmer
European majors are generally weaker today. Stronger than expected UK PMIs add to the case for BoE to stand pat next week. But the Pound shrugs off the data. Euro also receive no particular support from PMIs, which signals that the economy failed to pick up momentum for recovery....
EUR/GBP Weak ahead of Eurozone and UK PMIs
Euro continues to trade with a soft tone in Asian session, and there is no sign of recovery after yesterday's post ECB selloff. Australian Dollar is also weak after poor PMI data, even though markets are pushing RBA cut bets from February to April. On the other hand, market...
Euro Weakens after Uninspiring ECB, Risk Aversion Dominates With Coronavirus Fears
Euro is trading as one of the weakest major currencies, together with Canadian Dollar, for today. There is little inspiration from ECB rate decision and press conference. Canadian Dollar is weak on free fall in oil price, with WTI pressing 55 handle now. Australian Dollar continues to be the...
Aussie Recovers on Receding RBA Cut Bet, But Yen Stronger on Coronavirus Worries
Australian Dollar rises broadly today as markets pare back bet on RBA rate cut in February, following better than expected job data. Though, upside is limited by risk aversion while Aussie is just following Yen as the second strongest. Asian stocks trade generally, deeply lower, after China halted travel...
Sterling Surges on Record Improvement in Business Optimism, Traders Pare BoE Cut Bets
Sterling jumps broadly today as traders pare back bet on an imminent rate cut by BoE next week. Record improvement in quarterly business optimism is seen as a trigger for the sharp change in expectations. Canadian Dollar attempts to rally after CPI met expectations. But there is no range...
Canadian Dollar Mixed Awaiting BoC and CPI, Dollar Firmer
Yen and Swiss Franc turn mildly softer today as risk aversions receded. Asian stocks recover generally even though upside is limited. Traders remain cautious on coronavirus outbreak in China, which has already spread to the US. Sterling, Euro and Dollar are currently the stronger ones. Canadian Dollar is mixed,...
Sterling and Euro Rebound on Data, Risk Aversion Remains
Sterling and Euro rebound strongly today as lifted by solid economic data. But overall market sentiments remain weak concern of outbreak of coronavirus in China, ahead of lunar new year mass travel. Commodity currencies continue to trade as the weakest ones, following decline in stock markets. Yen is also...
Risk Aversion Dominates on Concerns of Coronavirus Outbreak in China
Risk aversion dominates the Asian markets today on concerns of coronavirus outbreak in China. Hong Kong HSI leads the way down, additionally pressured by Moody's downgrade. In the currency markets, commodity currencies are broadly lower, with Australian Dollar suffering biggest selloff. Yen and Swiss Franc are the strongest for...
Dollar Rises Again after Brief Retreat, EUR/USD Pressing Key Support
Dollar, Canadian and Yen are so far the strongest ones in a relatively quiet day. The greenback is supported by recent data as well as easing trade tension. But as the US economic calendar is ultra light this week, Dollar's fate is likely on others' hands. Canadian Dollar is...
Dollar Retreats Mildly in Quiet Markets, Three Central Banks to Meet this Week
The financial markets are generally steady in Asian session today. Dollar turns slightly softer against Euro and commodity currencies, but losses are so far limited. Though, Sterling is clearly weak as pressured by speculations of BoE rate cut. The Pound will face some more challenges from economic data this...