This week's rebound in global stock markets is losing momentum, as major European indexes and US futures are trading lower. Dollar recovers and lead Yen and Swiss Franc higher. Meanwhile, the rebound in Sterling also appears to have exhausted. Aussie and Loonie are following the Pound and next weakest...
New Zealand Dollar rises broadly in quiet markets today, after RBNZ delivered the 50bps rate hike as widely expected, clearing the doubt that it will follow RBA and opt for a smaller hike. Dollar remains the worst performer of the week, following strong risk rebound in stock markets, while...
European majors are trading generally higher today, as led by Euro this time. In particular, Euro looks set to reclaim parity against Dollar with current rebound. On the other hand, commodity currencies are trading lower together with Yen. Aussie is under renewed selling pressure, as traders continue to assess...
Australian Dollar dips broadly today after RBA delivered a smaller than expected rate hike. But the selloff in Aussie is so relatively limited. New Zealand Dollar follows lower, ahead of tomorrow's RBNZ rate decision. RBNZ is expected to hike by 50bps, but now it's not totally certain given that...
Funds appear to be flowing out of Euro and Swiss Franc, in relatively quiet trading today. Some focuses are on the Euro-denominated bonds issued by Credit Suisse, which dropped to record lows. Investors are concerned about the Swiss bank's restructuring program, due to be announced later in the month....
Sterling strengthens entering into European session, on rumors that UK Prime Minister Liz Truss to preparing to do a U-turn on tax and spending cuts. The talks came after Truss faced heavy scrutiny from Tory rebellions at the Conservative Party Conference. Markets are steady elsewhere, though. Traders are holding...
Sterling surprisingly ended as the best performer last week, as it staged an impressive U-turn after initial selloff. BoE's intervention should have saved the Pound for now. The development also helped Euro rebound while Dollar trailed behind as third. Rally in Dollar looked a bit exhausted as it failed...
Dollar is lifted mildly after stronger than expected core PCE inflation reading. But overall markets are relatively quite in quarter-end trading. Sterling is still keeping its place as the strongest one for the week, but rebound appears to be losing some momentum. Euro is following as second, and then...
Sterling's rebound extended further overnight as sentiment towards it continued to stabilized. Indeed, the Pound is trading up against Aussie and Canadian for the month. Sterling looks set to have a strong close for the week too. Commodity currencies are generally pressured today, together with steep decline in Japan...
The forex markets are generally in consolidation mode today. Risk sentiment is slightly on the off side, but there is no serious selloff in stocks. Treasury yields in US, Germany and UK are trading mildly higher, giving Yen a little pressure. But commodity currencies are the weaker ones. On...
Dollar retreated notably overnight, following the rebound in US stocks and steep pull back in treasury yields. But it's so far staying as the second strongest for the week, next to Swiss Franc, while Euro is third. Sterling stabilized further with another recovery attempt in progress. Commodity currencies are...
In a surprised move, BoE announced to intervene in the gilt markets. While 10-year gilt yield drops notably on the news, the recovery in FTSE is just mild. Sterling also just fluctuates and it's trading as the weakest one for the day. On the other hand, Swiss Franc buyers...
Risk-off sentiment dominates Asian markets today, as the Chinese Yuan's free fall accelerates. The steep depreciation could limit the room for the government to ease monetary policy further to help the economy that's still troubled by pandemic measures. Yen and Dollar are currently the stronger ones in the currency...
Dollar edges mildly higher after better than expected consumer confidence reading, but stays range bound. Overall, the forex markets are in consolidation mode. Sentiment appears to be supported as US stocks open higher, which European indexes are steady. One focus for the rest of the day is US 10-year...
The currency markets have turned into consolidation mode temporarily. Sterling further stabilized after BoE said in a statement that the assessment of the government's growth plan will be done at next "scheduled" meeting, ruling out an emergency meeting. Dollar is also taking a breather even though 10-year yield rose...
Dollar is extending its broad-based rally today. But other positions are somewhat changing. Sterling is now recovering as traders take profit, while awaiting an unconfirmed statement from BoE. Euro is also paring some recent losses. Meanwhile, Swiss Franc, Yen and Canadian soften in general. Australian and New Zealand Dollar...
Sterling's free fall extends into Asian session today, even against the weak Euro which is pressured against all other major currencies. Dollar is currently the strongest one and would likely remain so for now. Yen, Swiss Franc and Canadian Dollar are also firm. Australian and New Zealand Dollar are...
It's such a week of surprises. The biggest one was probably the free fall in Sterling, as markets reaction to the "mini-budget" of the new UK government was overwhelmingly negative. Commodity currencies and Euro were also pressured on risk aversion.
Dollar emerged as the strongest one after hawkish Fed hike,...
Sterling is in free fall today as markets reacted negatively to the "mini-budget" of the new government. Selloff came after Finance Minister Kwasi Kwarteng announced to cancel and planned rise in corporation tax, reverse a recent rise in income tax, and cut taxes for businesses in designated investment zones....
Dollar, Yen and Swiss Franc are currently trading as the strongest ones for the week, as supported by risk-off sentiment. Yen overpowers the other with help from intervention by Japan. Dollar is supported by hawkish Fed while Swiss Franc clearly lagged behind. Nevertheless, the Franc is still up against...