Dollar Selloff Continues as China Eases Restrictions, RBA and BoC To Hike This Week
Dollar's selloff continues in Asian session today as overall market sentiment is supported by further restriction easing in China. The improvement in sentiment is also reflected in some weakness in Yen and Swiss Franc. Australian Dollar and Canadian Dollar are trading generally higher, awaiting rate hike by RBA and...
Yen Jumped as Fed Powell Knocked Down Dollar and Yields
The tone of the markets was well set by Fed Chair Jerome Powell's indication of smaller rate hike in the upcoming FOMC meeting. The biggest reactions were found in treasury yields, which decline was surprisingly steep. US stocks ended higher but upside momentum appeared to be diminishing.
Dollar was sold...
Dollar Strikes Back on Solid Job Data, With Strong Wage Growth
Dollar rebounds notably after a set of solid non-farm payroll data, with strong wage growth. US stock futures take a dive in response to the news, while treasury yields recover. Australian Dollar appears to be responding most negatively for now, as pressured by risk-off sentiment too. But Euro and...
Yen Outperforms on Falling US Yields, Focus Turns to NFP
Yen is apparently the biggest winner against the broadly pressured Dollar. Steep declines in US and European benchmark yield gave the Japanese currency much support. Euro is currently the better performer among European majors. Canadian Dollar clearly lags behind other commodity currencies. The greenback will now look into this...
Dollar Selloff Extends after PCE Inflation, Breaking to the Downside
Dollar's selloff picks up momentum in early US session after PCE inflation slowed more than expected in October, while core PCE also declined. The data give a nod to Fed Chair Jerome Powell's comment that smaller rate hikes could start in December. Yen is the better performer as supported...
Sentiment Lifted by Fed Powell, Dollar Down While Stocks Up
Market are back in full risk-on mode after Fed Chair Jerome Powell affirmed that smaller rate hike would be delivered in December. Positive sentiment continued in Asia with China softening some of its pandemic restrictions. Dollar is in broad based selloff, followed by Canadian Dollar and Swiss Franc. Yen...
Little Reaction to US ADP and Eurozone CPI Miss, Consolidations Continue
Overall markets remain steady in consolidative trading today. There is little reaction to lower than expected Eurozone CPI and US ADP job data. Fed Chair Jerome Powell's speech might trigger some volatility, or traders will have to wait for non-farm payrolls on Friday. For now, Dollar is the strongest...
Markets Cautious, Awaiting Eurozone CPI and Development in China
Overall, the forex markets are very cautious for now, awaiting the key events of the week, including Eurozone CPI flash today and US non-farm payrolls on Friday. There is no breakthrough in the unrest in China, with reports of escalation in protests in manufacturing center of Guangzhou. Yen and...
CAD Falls Broadly after GDP, Markets Lag Direction Elsewhere
Canadian Dollar falls broadly after weaker than expected GDP data. Dollar and Swiss Franc are also weak on steady market sentiment. Australia and New Zealand Dollar are currently the strongest ones, followed by Sterling. But all three are just staying in range against the greenback. Euro is also relatively...
Risk Sentiment Improved Despite China Let-Down, No Decisive Market Actions Yet
Risk sentiment improved slightly earlier in Asian session on rumors that China is going to exit its zero-Covid policy earlier. Yet the announcement of the National Health Commission on speeding up vaccination for the elderly was a big let-down. After all, Dollar, and Swiss Franc are on the softer...
Risk Aversion Continues on China, Euro Support by Yields
Risk aversion is the theme of the day as protests in China spread to multiple cities. There might be talks that pressure is mounting on the government to exit zero-Covid policy early. Investors are clearly more pessimistic on guard of escalations, which could further disrupt the economy. Australian Dollar...
Aussie Down as China Unrest Triggers Risk Aversion
Yen and Dollar rise broadly in Asian session today while Australian Dollar leads commodity currencies lower. Markets are trading with risk-off sentiment, with deeper selloff in China and Hong Kong markets. Large scale protests were carried out in multiple cities in China over the weekend, and the theme has...
Dollar Down as Smaller Fed Hike Affirmed, But Downside Potential Limited
The expectations of a smaller Fed hike in December was affirmed by FOMC minutes last week. Dollar ended as the worst performer, following mild risk-on sentiment. Canadian Dollar was the second worst as dragged down by falling oil prices. Meanwhile, Euro was the third weakest suffering some selloff against...
Euro Ignores Improvement in German Consumer Sentiment, Kiwi Firm after Retail Sales
Overall, the markets are quiet in holiday mood today. Dollar remains the worst performer for the week, followed by Canadian. Next is Euro, which is receiving no support from the slight improvement in Germany consumer sentiment. Sterling is currently the strongest one for the week. New Zealand Dollar follows...
Yen Soars With Falling Yields, Sterling Resilient
Yen rises broadly in quiet trading today, with help from falling US and European benchmark yields. Sterling is following as next strongest, and then Kiwi. On the other hand, Swiss Franc is the worst performer, followed by Dollar, Canadian. Euro and Aussie are mixed for the moment. As the...
Dollar Down as Substantial Majority of Fed Members Judged Slowing Hike Soon Appropriate
Dollar is sold off broadly after FOMC minutes indicated that a "substantial majority" of policymakers judged that slowing rate hike would "soon be appropriate". For now, New Zealand Dollar is the strongest for the week, supported by RBNZ's big rate hike. It's followed by Sterling, and then Swiss Franc....
Sterling Rises Broadly, Shrugging Weak PMI Data
Sterling surges broadly today, shrugging off PMI data which indicates extended weakness in the economy. It's even over-powering New Zealand Dollar, which was lifted by RBNZ's jumbo rate hike. On the other hand, selling is focusing on Dollar, Canadian and Australia, while Yen is also on the weak side....
NZD Rises after RBNZ Jumbo Rate Hike, Pressure Back on Dollar
New Zealand Dollar rises broadly after RBNZ delivered the historical 75bps rate hike as widely expected. Yet, it's staying in near term range against the greenback. For now, Euro is following Kiwi as second strongest for the day, then Swiss Fran and Sterling. Canadian Dollar is the weakest, followed...
NZD Recovers ahead of RBNZ Hike, Dollar and Euro Dip
Dollar and Euro are so far the worst performer in quiet trading today. The greenback is clearly weighed down again by stocks' rise and yield's decline. There are news that China's Shanghai is back in tougher restrictions, but investors are not too bothered. Canadian Dollar is also soft after...
Dollar Rally Stalled Once Again, CAD Looks into Retail Sales
Dollar's rebound stalled once again quickly, as risk markets appear to have stabilized. Overall, Swiss Franc is following the greenback as the second strongest for the week so far, then Canadian. Yen is the worst performer, followed by Aussie and Kiwi. Euro and Sterling are mixed with Sterling having...