Dollar was sold off broadly overnight after Fed indicated openness to a pause in tightening after raising interest rate by 25bps. Yet, selloff is relatively limited after Chair Jerome Powell ruled out a rate cut this year. Indeed, major stock indexes ended slightly lower, as weighed by persistent concerns...
Dollar remains weak in early US session, despite strong ADP job data, seeing only modest gains the Australian and Canadian Dollars. However, the selloff remains contained, even against strong Yen and Swiss Franc. Traders are evidently holding their bets as they await FOMC rate decision. A 25bps hike to...
Dollar weakens broadly in today's Asian session as markets await what could be the last Fed rate hike in the current cycle. Risk sentiment is on the downside, with stock selloff carrying over from the US to Asia. Despite this, the greenback sees no apparent support. Conversely, Yen benefits...
Forex traders are probably starting to put up guards ahead of the key events in FOMC rate tomorrow, ECB on Thursday, and NFP on Friday. Australian Dollar remains the top performer today, bolstered by RBA's unexpected rate hike. However, there is no follow through buying after the initial spike....
Australian Dollar surges after RBA surprised the markets by resuming rate hike today. In addition, tightening bias is maintained even though the tone is softened. New Zealand and Canadian Dollars trail closely, boosted by a slightly positive risk sentiment. On the other hand, Japanese Yen continues to be the...
Dollar rises against Yen after release of slightly better than expected ISM manufacturing data. But there is no clear pick up in buying against other major currencies. Weakness in Yen remains in the main theme. Overall trading is relatively subdued today, with most markets closed on holiday. But volatility...
The markets experienced surprisingly high volatility in the last week of April, with central bank expectations as the primary driver. Japanese Yen emerged as the worst performer following BoJ's dovish stance, leading bond traders to abandon hopes for any changes to yield curve control. Australian Dollar was the second-worst...
Dollar is facing renewed pressure against European majors in early US trading sessions due to faster-than-expected declines in headline inflation. However, it continues to hold strong against Japanese Yen, which remains the worst performer for both the day and the week. Yen is continuing the post-BoJ selloff, with no...
Yen declined broadly in Asian session as traders discovered that BoJ still has the potential to surprise the market with dovish moves. The selloff was triggered by the central bank's plan to review monetary policy in 12 to 18 months, a major disappointment for those who expected imminent changes...
Dollar shrugs off worse than expected Q1 GDP data and recovers against European majors in early US session. But momentum is so far weak except versus Swiss Franc, which happens to be the worst performer for the day. Australian Dollar and other commodity currencies turned into consolidation, digesting this...
The forex markets appear stable in today's Asian session, with most major pairs and crosses remaining within yesterday's range. Stabilization of US stocks helped calm investors for now, but overall sentiment remains vulnerable. Australian Dollar continues to be the week's worst performer, facing a triple blow of risk aversion,...
Euro is leading European majors higher today, with a little boost from improving consumer sentiment in Germany. However, it is likely that the rise is more due to concerns over regional bank woes in the US, which are triggering some risk-off sentiment. Australian Dollar is the worst performer for...
Risk aversion is intensifying as US stocks tumbled significantly overnight, following First Republic Bank's earnings report, which reignited concerns about the broader banking sector. The troubled regional bank's shares plummeted by nearly half. Concurrently, bonds surged higher, pushing 10-year yield below 3.4% handle. Japanese Yen and Swiss Franc surged...
Selloff in Australian and to a lesser extent Canadian Dollar is the main theme in the markets today, but market directions are not clear elsewhere. Euro's rally attempt against Dollar and Yen faltered following deep retreat in European benchmark yields. But the common currency is making progress in upside...
Euro is making broad gains in Asian session, fueled by hawkish comments from a top ECB official who suggested that the next rate hike could be a 50bps one. Euro's strength is also lifting the Swiss Franc, while Sterling remains firm but lags slightly behind. In contrast, Australian and...
Japanese Yen suffers broad sell-off today, following comments from BoJ Governor Kazuo Ueda that seem to have quashed hopes of even a minor shift in monetary policy this week. Meanwhile, overall market sentiment remains steady, with Australian and Canadian Dollars also facing selling pressure. On the other hand, European...
In today's Asian trading session, Australian and New Zealand dollars extend their decline from late last week, weakening broadly. Concurrently, Japanese Yen is trailing as the next weakest currency. This picture aligns with the steady risk sentiment across Asia, except for Hong Kong stocks. On the other hand, Dollar,...
Last week, market movements centered around central bank policy expectations, with limited clear alternate influences. Comments from Fed officials and recent economic data suggest that Fed's tightening cycle is not over yet. This pushed US Treasury yields higher, but stock market indexes remained relatively stable. The steady market sentiment...
Japanese Yen is extending its rally in the early US session holding on to its gains and emerging as the second strongest currency for the week, just behind Swiss Franc. Despite persistently above-target inflation data, it remains unlikely that BoJ will make a shift in monetary policy next week....
Japanese Yen rose broadly in today's Asian trading session following the release of CPI data, indicating inflation remains persistently above BoJ's target. While it is still early for BoJ to make any changes to monetary policy, a case for a shift later this year is building. Meanwhile, Dollar and...