Market Overview
Sterling Tumbles Broadly While Dollar Turned Mixed
While Dollar is now the strongest one for the week, buying remains not too committed, except versus the weak Pound. The greenback is indeed mixed, awaiting more guidance from Fed Chair Jerome Powell's speech. Yen is currently the strongest one for today,. Australian Dollar is trailing as the impact...
Aussie Bounces after Hawkish RBA Hike, Dollar Hesitates ahead of Fed Powell
Australian Dollar recovered broadly today following hawkish RBA rate hike, which signals more tightening ahead. The rebound in Aussie also takes New Zealand Dollar higher. On the other hand, Dollar is once again consolidating overnight gains. The rally in the greenback is not too committed this week so far....
Dollar Staying Firm But Lacks Follow-Through Momentum
Dollar is staying generally firm today but lacks clear-cut momentum to extend last week's rally. Overall sentiment is mildly on the risk-off side, with major European indexes and US futures in red while benchmark treasury yields jump. For now, Yen remains the worst performer for the day, followed by...
Yen Tumbles Broadly, Dollar Digest Gains
Yen opens the week broadly lower on rumors that current ultra-loose monetary policy would be maintained by the next BoJ governor. Meanwhile, markets are mixed elsewhere. Dollar is paring some gains after initial rally, but stays generally firm. Australian Dollar is trying to recover with other commodity currencies. Swiss...
Dollar Won on Strong Economic Data, Might Decouple from Risk Sentiment for a While
With the help from strong economic data, Dollar struck back to end as the strongest one, after a week full of heavy weight events. Traders might start to give up on fighting the Fed on the topic of terminal interest rate and the timing of a cut, given the...
Dollar Strikes Back on Stellar NFP Data
Dollar rebounds strongly and broadly in early US session after a set of stellar job data that blows past expectations. Stock futures dive on renewed concern that interest rate will stay high for lower while benchmark treasury yield rebounds. The question now is whether the greenback could overwhelm Yen...
Yen in Pole Position as US NFP Awaited
Yen is stealing the show in the week of heavy weight events, powering up broadly with help of broad based decline in US and European treasury yields. Swiss Franc is following together with Euro while Dollar is just mixed. On the other hand, Sterling is the worst perform despite...
Euro and Sterling Down after ECB and BoE, Yen Rises on Falling Yields
Euro retreats notably even after ECB hikes 50bps and expresses the intention to do the same in March. Sterling is also trading lower after BoE hikes by 50bps as expected. Yen is currently the stronger one with help from extended fall in US and European benchmark treasury yields. Dollar,...
Dollar Down on Risk-On Sentiment after FOMC, BoE and ECB Take Center Stage
Dollar weakened broadly overnight, more on risk-on sentiment than FOMC rate decision. Yet, selloff was not particularly fierce except versus Euro and Swiss Franc. In particular, Sterling is clearly lagging behind. Judging from the upside breakout in EUR/GBP, traders are probably guarding against the possibility of a dovish twist...
Dollar Falls after ADP Miss, Gold To Try Breakout ahead of Fed
Dollar falls broadly after ADP job data missed expectations, while traders await FOMC rate decision. There is no doubt that Fed will hike interest rate by 25bps today and signals that tightening is not finished. The key questions about the terminal rate, and how long interest rate will stay...
Sentiment Resilient, Dollar Mixed, Fed Hike Awaited
Dollar is trading in mixed manner as focuses turns to FOMC rate hike today. The recovery attempt in the greenback this week was rather disappointing. In particular, it has conceded much ground against commodity currencies and Swiss Franc. Overall, risk sentiment will likely continue to dictate the moves in...
Dollar Recovering But Could It Last? Euro Mixed after GDP
Dollar attempted to extend recovery today but once again lacked follow through momentum. The greenback is mildly supported by slight risk aversion, but lags behind Yen and Swiss Franc. For now, Australian Dollar remains the worst for the day on poor retail sales data, followed by Canadian and New...
Markets Stay Cautious Shrugging Positive China Data, Dollar and Yen Recover
Yen and Dollar are both in recovery mode in Asian session, as investor continued to turn cautious ahead of the three central bank meetings of Fed, BoE and ECB later in the week. Asian markets shrugged of better than expected PMI data from China, which indicated a return to...
Euro Shrugs Poor German GDP, But Overall Markets Tread Water
Overall, the forex markets are pretty quiet today. Euro rises broadly despite poorer than expected German GDP. Yet, there is no breakout from familiar range. Swiss Franc is tracking Euro closely, followed by Dollar. Australian Dollar is so far the worst performer, without follow through downside momentum. Yen is...
Markets Turning Cautious; Fed, ECB and BoE ahead, With Lots of Data
Sentiment in Asia was mixed today. Most markets have turned cautious ahead of the central bank bonanza this week. At the same time Hong Kong stocks tumble deeply, as led by Chinese tech giants. In the currency markets, Australia Dollar is currently leading commodity currencies lower. Yen is the...
US PCE Inflation Cooled, Markets Steady, Dollar Sluggish
The markets are steady after US data showed further cooling in headline and core PCE inflation. While the decline in Dollar has been slowing somewhat, there is no committed buying for a sustainable rebound. The greenback is likely to end the week mixed. Trade might be relatively subdued for...
Dollar Eyes PCE Inflation Data, Ready for a Bounce?
Risk-on rallies appear to be taking a breather ahead of the weekend. While US stocks jumped overnight, Asian markets are just mixed. Focuses will turn to US PCE inflation data today. Dollar might try to bounce if there is upside surprise in the report. Yet, the big events are...
Solid Data Support Risk Sentiment, Dollar Struggles
US futures trade higher after a batch of solid economic data. Positive risk sentiment are lifting commodity currencies in general, in particular Aussie. Dollar and Yen are turning softer while European majors are mixed, with Euro lagging behind. In the weekly picture, while Aussie is still the strongest, Dollar...
Aussie Staying Strong With Positive Risk Sentiment, Dollar Eyes GDP
Australian Dollar strengthens further with mildly positive risk sentiment in Asia. But other major currencies are sluggish. Yen is still recovery but apparently lacks committed buying. Canadian Dollar is staying soft after yesterday's BoC hike, but selloff is relatively limited. Euro is having a slight upper hand against Dollar,...
Euro Softens Despite Improvement in German Business Sentiment
Australian Dollar remains the strongest one for today, maintaining most of post-CPI gains. But Yen is catching up with broad based recovery. Euro softens despite improvement in German business climate, and Sterling is trading lower too, while Kiwi stays as the worst. Dollar and Canadian are mixed awaiting BoC...