Dollar Ends the Year With Accelerated Selloff
Dollar selloff accelerates further as 2019 is heading to an end. The signing of US-China trade deal phase one should now be confirmed, but that provides little support to the greenback. Instead, Dollar dives through some key technical levels. As for today, Sterling is the strongest one, followed by...
USDJPY to Firm in 1H20, Could Weaken as Uncertainties Resurface Later in the Year
US-China trade war, Brexit drama and concerns over global economic slowdown have resulted in a volatile FX market for most of 2019. Risk aversion raised demand for safe-haven assets, such as Japanese yen. USDJPY declined to as low as 105 in mid-August, recording a loss of about 4% in...
AUD/USD Breaks 0.7 as Dollar Selloff Extends
Dollar's selloff continues on the last trading day of the year, while markets are rather mixed elsewhere. Australian Dollar is the strongest one for now, but it's followed by Japanese Yen. Meanwhile, New Zealand Dollar is the weakest one, followed by Euro and Sterling. Trading will likely become more...
CFTC Commitments of Traders – Crude Oil’s Increase in NET LENGTH Moderated as Price Entered Fourth-Week Rally
According to the CFTC Commitments of Traders report for the week ended December 24. NET LENGTH for crude oil futures gained +13 700 contracts to 550 077 for the week. Speculative long positions added +13 189 contracts while shorts dropped -511 contracts. For refined oil products, NET LENGTH for...
CFTC Commitments of Traders – British Pound Futures Positions Returned to NET LENGTH for First Time since April
As suggested in the CFTC Commitments of Traders report in the week ended December 24. NET LENGTH in USD Index gained +1 535 contracts to 13 231. Speculative long positions added +990 contracts and short positions dropped -545 contracts. Concerning European currencies, NET SHORT for EUR futures rose +7...
Dollar Stays Weak as Focus Turns to Trade, Swiss Franc Firm
Dollar remains the worst performing one today as focuses turned from geopolitical tensions to trade. Euro is following as the second weakest as earlier rally reverses. On the other hand, buying in New Zealand Dollar picks up, followed by Swiss Franc. Sterling is also firm as the third strongest...
Dollar Broadly Lower as Geopolitics Dominates Headlines
Dollar trades generally lower as markets started another holiday shortened week quietly. With an empty calendar in Asia, focuses were mainly on geo-political news, which weren't very much market moving. For now, commodity currencies are the next weakest following the greenback. Yen and Swiss Franc are the mildly stronger...
Dollar Selloff Accelerates, Sterling Staging a Comeback
Dollar's selloff continues today and is accelerating. Solid risk appetite isn't a friend of the greenback this time, nor the Yen which is the second weakest. Sterling is staging a strong rebound as it seems that recent pull back has completed. Commodity currencies are indeed mixed despite persistent strength...
Aussie and Kiwi Strong as Stocks Extended Record Runs
Commodity currencies are extending this week's rallies on strong risk appetite, with US stocks continuing record runs. Solid gains are also seen in oil price and gold. New Zealand and Australian Dollars are set to end as the strongest ones for the week. On the other hand, Yen and...
Sterling Recovers in Quiet Trading, Oil and Gold Strengthen
Trading in the forex markets is generally quiet in Asian session. Sterling's broad based recovery suggests that last week's steep pull back could have completed. Yen crosses are also mildly firmer on optimism over US-China trade deal. These two developments would be the focuses for the rest of the...
Sterling Suffers Renewed Selling, Canadian Lower on GDP
Sterling is trading as the weakest one for today as it suffers renewed selling ahead of holidays. Canadian Dollar is currently the second weakest, weighed down by unexpected contraction in October GDP. Meanwhile New Zealand and Australian Dollars are the strongest ones, lifted by China's move to lower import...
Markets in Holiday Mood, USD/CAD to Decide Next Direction
Australian and New Zealand Dollar strengthen mildly in Asia today. But markets remain quiet overall, very much in holiday mood. Dollar and Canada are the weaker ones. US President Donald Trump's tweet late Friday indicated that US-China trade deal is still on the right track. China also announced to...
CFTC Commitments of Traders – Net Length on USD Index Futures Halved on Improved Risk Appetite
As suggested in the CFTC Commitments of Traders report in the week ended December 17. NET LENGTH in USD Index declined -10 565 contracts to 11 696. Speculative long positions fell -7 706 contracts and short positions gained +2 859 contracts. Concerning European currencies, NET SHORT for EUR futures...
CFTC Commitments of Traders – Bets for Higher Oil Price Remained Though Momentum Eased
According to the CFTC Commitments of Traders report for the week ended December 17. NET LENGTH for crude oil futures jumped +40 838 contracts to 536 377 for the week. Speculative long positions gained +34 897 contracts while shorts declined -5 941 contracts. For refined oil products, NET LENGTH...
Canadian Dollar Tumbles after Poor Retail Sales, Sterling Pares Losses
Canadian Dollar drops sharply in early US session after much weaker than expected retail sales data. Euro and Swiss Franc are also under some selling pressure. On the other hand, Sterling is paring some losses ahead of weekly close while Australian Dollar is generally firm. Over the week, Swiss...
Yen Trying to Rally as 10-Yr JGB Yield Turns Positive
The forex markets are relatively quiet today, with little reactions to the record run in US stock markets overnight. Yen is indeed to trying to rally risk appetite markets, drawing support from 10-year JGB yield which turns positive. Swiss Franc is generally firm as this week's rally is maintaining...
BOE Left Policy Rate Unchanged. Neutral Tone Maintained
At the last BOE meeting headed by Mark Carney, the members voted 7-2 to leave the Bank rate unchanged at 0.75%. The members voted unanimously to maintain the purchase of government bonds at 435B pound and corporate bonds of 10B pound. The members maintained a neutral stance in the...
Yen Higher after Poor US Data, Sterling Tumbles after BoE
Yen is trading broadly higher today as buying rushes in after weaker than expected US economic data. Nevertheless US stocks open mildly higher while 10-year yield is also trading up. Australian Dollar is currently the second strongest for today, still feeling the support from employment data. On the other...
Aussie Rebounds on Strong Job Growth, Sterling Awaits BoE
Australian Dollar recovers broadly today on stronger than expected job data. Though, upside is limited so far as unemployment rate remains a long way from RBA's rate of full employment. New Zealand Dollar is also among the strongest following better than expected GDP growth. Sterling is mixed as focus...
Canadian Dollar Supported by CPI and Oil Price, European Majors Weak
Canadian Dollar is trading as the strongest one for today, as helped by resilience in oil price and solid consumer inflation data. Dollar is currently following closely as the second strongest. On the other hand, European majors are the weakest ones so far, including Swiss Franc. Though, while Sterling...