Yen Recovers as Tokyo Steps In, Worst of Selling May Be Past… for Now
Yen recovered modestly in Asian session as Tokyo officials reissued verbal warnings against excessive moves in the currency market. After the week's accelerated selling following Sanae Takaichi’s election as LDP leader, the latest remarks from Finance Minister Katsunobu Kato suggest Japan may be nearing an intervention threshold, at least...
Euro Under Fire Again as France’s Macron Hunts for Sixth Prime Minister in Two Years
Euro came under renewed selling pressure today, particularly in crosses, as investors reacted nervously to deepening political uncertainty in France. President Emmanuel Macron’s search for a new prime minister dominated headlines. His office confirmed that he would appoint a replacement “within 48 hours,” after outgoing Prime Minister Sebastien Lecornu...
Aussie Rises on Regional Tech Rally; Dollar Soft After Cautious Fed Minutes
Australian Dollar advanced in Asian session today, lifted by broad gains across regional equities and improving investor confidence. Japan led the advance, with a technology-driven rally pushing the Nikkei higher. Shares of SoftBank surged over 10% after the company announced plans to acquire the robotics division of Swiss engineering...
Gold Tops 4,000 as Investors Flock to Safety; Focus Turns to FOMC Minutes
Gold stole the spotlight in global markets today, surging past the 4,000 mark for the first time ever as investors poured into the metal amid mounting geopolitical risks and growing conviction that the Fed will deliver another rate cut later this month. The historic milestone marks another powerful leg...
RBNZ Sparks Kiwi Selloff, Yen and Euro Weakness Persists
The New Zealand Dollar fell across the board after the RBNZ surprised some with a 50bps rate cut and adopted an even more dovish tone than markets anticipated. The cut itself was not a shock—markets had speculated for weeks that a half-point move was possible—but positioning in the lead-up...
Dollar Steady Ahead of Fed Speeches, RBNZ Decision Looms
Dollar firmed modestly as markets transitioned into early US session. Despite the resilience, it remain skeptical whether the greenback could stage a breakout. While Dollar continues to outperform the struggling Yen, its strength against other currencies is refrained. Against Loonie, the greenback is losing traction as oil prices stabilize....
Yen Momentum Slows After Slide, But Japan Bond Market Faces Takaichi Test
Volatility across major currency pairs eased in Asian session today, with markets showing a brief pause after several sessions of outsized moves. Yen initially extended losses as the Nikkei 225 surged to another record high for a second straight day, but later steadied as profit-taking emerged following the sharp...
Euro Weakens as French Government Implodes, Macron Faces New Crisis
Domestic politics dominated global markets today, driving sharp moves in both European and Asian trading sessions. In Europe, political instability in France rattled sentiment, while in Japan, optimism over new leadership sparked a broad equity surge and a dramatic selloff in the Yen.
In European, CAC 40 slumped and Euro...
Yen Nosedives as Nikkei Surges on Takaichi Optimism; Asia in Holiday Lull
Japan occupies the spotlight in otherwise subdued Asian trading, with much of the region quiet due to Mid-Autumn Festival holidays. Nikkei 225 jumped sharply to another record high, powered by euphoria surrounding Prime Minister-in-waiting Sanae Takaichi, whose pro-growth agenda and fiscal expansion plans have ignited investor optimism.
That optimism came...
Shutdown Fails to Shake Risk Appetite; Dollar Slips, Not Sinks
A week with political paralysis in Washington ended with record highs on Wall Street — a telling sign of how investors are prioritizing Fed policy over fiscal drama. The U.S. government shutdown, now in effect after Congress failed to pass a funding bill, has frozen major data releases and...
Loonie Sinks as WTI Oil Nears $60, OPEC+ Hike Looms
Canadian Dollar remains the weakest major currency this week, pressured by a combination of falling oil prices and dovish stance of the BoC. Canada’s key export driver slumped to a four-month low with WTI crude threatening to break below 60 handle. That decline comes just as the BoC’s own...
Yen Pulls Back on Profit-Taking Ahead of LDP Vote, Dollar Steadies
Yen is paring back after a week of strong gains, as profit-taking sets in and domestic risk appetite strengthens. Japanese equities rallied sharply, driven by Hitachi’s announcement of a partnership with OpenAI to build AI data centers globally, bolstering optimism in the local market and easing demand for safe-haven...
Dollar Slightly Softer as Bessent Warns Shutdown Could Hit GDP
Dollar is slightly softer today but not under heavy selling pressure. US Treasury Secretary Scott Bessent cautioned in a CNBC interview that the current government shutdown could hurt economic performance. “We could see a hit to the GDP, a hit to growth and a hit to working America,” he...
Wall Street Hits Records Despite Shutdown, Yen Strength Continues
The ongoing US government shutdown has done little to rattle investor sentiment so far. Wall Street shrugged off the impasse, with the S&P 500 closing at a fresh record high overnight while DOW and NASDAQ also advanced. In Asia, risk appetite carried through as Hong Kong surged on its...
Dollar Slips as Fed Cut Bets Surge on ADP, Yen and Sterling Firm
Dollar weakened broadly in early US trade after a sharp miss in the ADP employment report. The data amplified concerns that US job growth is faltering, and rate markets reacted swiftly. A quarter-point Fed cut this month is now fully priced in, while the odds of another cut in...
Yen Stays Firm on Tankan Resilience, Broader Markets Subdued
Trading was relatively subdued in Asia today, with China and Hong Kong closed for holidays and little reaction seen across the rest of the region. Equity markets were mixed, reflecting a cautious tone after Wall Street managed to end slightly higher overnight despite a fresh government shutdown in the...
Markets Cautious at Quarter-End, Aussie and Yen Lead FX
Australian Dollar is staying the day’s top performer, rallying after the RBA kept its cash rate unchanged but leaned hawkish in tone. Later at the press conference, Governor Michele Bullock avoided any firm guidance on future cuts, telling reporters she would not “predict what the interest rate is going...
Aussie Surges on RBA Hawkish Tilt, Yen Supported Despite Data Weakness
Aussie rallied broadly after the RBA left policy unchanged at 3.60% but issued a statement that leaned hawkish. Traders were quick to note the Bank’s warning that Q3 inflation may come in stronger than projected in August, a reminder that the disinflation path remains far from assured.
The RBA’s tone...
Yen Leads as BoJ Hawkish Signals Build, Focus Turns to RBA
Yen held firm as the strongest performer heading into the US session, supported by mounting speculation that the BoJ is moving closer to a rate hike. Traders seized on a hawkish shift from a known dove on the Policy Board, a sign that internal momentum is building for further...
Yen Recovers as Nikkei Pulls Back, Dollar Pressured by US Shutdown Risk
Yen jumped broadly in Asian trading today, marking a strong performance on the penultimate session of Q3. The move coincided with a drop in Nikkei, where ex-dividend effects weighed on equities, prompting flows into Yen. The quarter-end context likely amplified positioning shifts.
Beyond equities, anticipation of the BoJ’s upcoming Summary...