Market Overview
Yen, Swiss and Dollar Higher as Markets Rethink US-China Deal in Holiday Trading
Yen, Swiss Franc and Dollar continue to regain some grounds today as markets reassess US-China trade negotiations developments. New Zealand Dollar, Sterling and Australian Dollar are generally softer too. But overall trading is rather subdued with Japan, US and Canada on holiday. Today's price actions are, for now, generally...
Markets Higher But Cautiously Await Brexit and US-China Trade Developments
Asian markets opened higher but there is no clear follow through buying so far. Investors are cautiously assessing the overall developments. Nothing is done until everything is done. Even if, unlike last time, China puts all agreed into texts, it just means no more tariffs escalations at best. Much...
US-China Trade Deal and Brexit Optimism Lifted Sentiments
Global markets were boosted strongly last week as there seemed to be resolution to two major risks finally. UK and Ireland appeared to have found the "pathway" to avoid no-deal Brexit. Meanwhile, US and China agreed an interim trade deal that would avert further tariffs escalation. The improvement in...
Sterling Skyrockets on Brexit Optimism, Canadian Jumps on Job Data
Sterling is overwhelmingly the strongest one on optimism that UK will finally reach a deal with EU for an orderly Brexit. EU Chief Brexit negotiator Michel Barnier is said to be given greenlight for tunnel discussions, paving the way for next week's crucial EU summit. Canadian Dollar is currently...
Sentiments Lifted by Optimism on Brexit and US-China Trade Talks
Sentiments had a drastic turn yesterday as both Brexit and US-China trade talks appeared to show some lights. Sterling rebounded strongly on hope there would finally be a deal to orderly Brexit on October 31. The Pound is set to end the week as the strongest one. Euro is...
Euro Jumps as ECB Accounts Showed Division on Stimulus, Dollar and Yen Weak
Dollar and Yen are generally softer today following notable rebound in German and US treasury yields. ECB meeting accounts confirmed the divided opinion among policy makers on the stimulus package, in particular QE. That gives a strong support in both Euro and German bund yields. Meanwhile, solid core CPI...
Markets Stay Cautious as US-China Trade Talks Awaited
Overall, the forex markets remain generally quiet in very tight range. Australian dollar edged higher in Asian session as lifted by stronger than expected consumer inflation expectations. Yet, there was on follow through buying. Yen and Dollar are both softer as sentiments remain cautious. Traders are very skeptical on...
Consolidation Continues as Markets Await FOMC Minutes and Trade Talks
Consolidative trading continues in the financial markets. US futures point to recovery despite uncertainties over US-China trade talks. Yet, markets are just paring some of yesterday's losses. The currency markets are also generally bounded inside yesterday's range. Dollar is slightly softer, awaiting FOMC minutes. Sterling had a rollercoaster ride...
Sterling Stays Weak on Brexit, Investors Uneased by US-China Tensions
The forex markets are rather steady in tight range in Asian session today. Over the week, Sterling is the weakest as Prime Minister Boris Johnson's Brexit proposal appeared to be unwelcome by EU. And he's facing fresh rebellions from his cabinet. Investors are a bit uneasy as political tensions...
Sterling Tumbles on Brexit, Investors Cautious on Trade Talks
Investors turned generally cautious again after Bloomberg came back with another report that US is on ways to further scrutinize index providers' decision to add Chinese firms that could be material risks for investors. The administration believed that Americans are harmed by channeling funds into Chinese companies which pose...
Sentiments Improved Mildly as Trade Talks Awaited, Yen and Dollar Softer
Yen weakens generally today in response to rebounds in Asian markets, as China and Hong Kong are back from holidays. Additionally, US 10-year yield closed mildly higher at 2.045 overnight, seemed to be drawing some support from 2% handle. But sentiments are still capped by uncertainties over US-China trade...
Sterling Lower on Brexit Uncertainties, But Ignore Scottish Court Ruling
Sterling trades generally soft today as markets are awaiting Brexit developments. Scotland's Outer House of the Court of Session ruled against the request to force Prime Minister Boris Johnson to seek Brexit delay. But that was only because "government's clearly stated position before the court, there is no need for...
Yen Firmer in Quiet Markets, Eye on US-China Trade Talks
The forex markets are generally quiet today, staying in tight ranges. Trading is subdued with China and Hong Kong on holiday. Yen, Euro and Dollar are the mildly firmer ones. Australian Dollar, Sterling and Swiss Franc are the relatively weaker ones. US-China trade talks and Brexit will be the...
Dollar Ended Lower on Recession Fear and Fed Cut Bets, Awaits Trade Talks
Dollar ended last week generally lower, except versus Swiss Franc and Canadian Dollar. The greenback was pressured as poor economic data raised recessions fears while traders added to bet of Fed cut this month. Though, there is no clear sign of bearish reversal in the greenback yet, except versus...
Dollar Directionless after Mixed Non-Farm Payrolls
Dollar is relatively directionless in after mixed job data. The headline number is a slight miss and wage growth disappoints. Yet, unemployment rate dropped to lowest level since 1969. For today, Sterling is the weakest one as it looks like EU is not so happy with UK's new Brexit...
Dollar Soft ahead of Non-Farm Payroll, 10-Year Yield Dived
Dollar trades generally softer today as markets turned cautious ahead of non-farm payroll report. After a string of weak economic data from the US this week, recession fears intensified. NFP today could be a make-or-break point for investor sentiments in general. For now, Swiss Franc is the weakest for...
Sterling Rebounds as Johnson’s Brexit Plan Got Tories Backing
Sterling rebounds strongly as news emerged that UK Prime Minister Boris Johnson's new Brexit plan is well received by Conservatives. The news is more than enough to offset poor PMI data released earlier today. New Zealand and Australian Dollars are following as second strongest for today, paring some of...
Markets in Risk Aversion on Recession and Trade War Concerns, Yen Strong
Yen remains generally firm in Asian session today as risk aversion dominates. Selloff in US stocks overnight spilled over to other markets. Poor economic data, manufacturing and employment, raised recession concerns. Additionally, US is taking another step in global trade war, by raising tariffs on EU after WTO ruling...
Dollar Regains Control With Job Data, But Yen Much Stronger
Dollar regains some control and stays firm after ADP job report. Though, it's outshone clearly by Yen which is lifted by risk aversion. New Zealand Dollar comes in as second strongest as it's paring some of recent losses. On the other hand, Swiss Franc drops notably after poor CPI...
Dollar Rally Halted, Focus Turns to ADP Job First
The forex markets are trephining in rather tight range today. Dollar turned mixed overnight after poor ISM manufacturing data. Chance of another Fed cut in October, as priced in by fed fund futures, rose to 63.1%. But outlook could change drastically with upcoming data, including ADP jobs today, ISM...