Mon, Nov 18, 2019 @ 01:39 GMT
US equities closed sharply higher overnight with DOW ended up 2.17%. Optimism carried on in early part of Asian session but couldn't persist. At the time of writing, China's Shanghai SSE reversed earlier gains and is trading down -0.8%,...
Global markets stage a strong rebound today with help from talk of global stimulus. China has already indicated that it will reform rate system to lower lending cost. There were also talks that Germany is considering stimulus measures. Markets...
Indicative votes on Brexit alternatives in the UK House of Commons will catch most attention ahead. Debate is due to start by 1500GMT. We'll see what alternative Brexit path could gain majority in the Parliament. House of Commons Speaker...
Dollar's corrective pull back yesterday was rather brief and shallow. EUR/USD reached 1.1995 but failed to break through 1.2 handle. It's now back at 1.1930. USD/CHF breached parity briefly to 0.9956 and is back above 1.0000 now. GBP.USD continued...
Dollar's selloff accelerates entering into US session today and drags down the Japanese Yen too. Strong employment data may halt the greenback's decline temporary. But it's definitely not enough to trigger a reversal. EUR/USD and GBP/USD are in proximity...
Sterling spiked higher overnight after UK Commons voted to reject no-deal Brexit. But there was no follow through buying as the Pound settles back into familiar range quickly. It's indeed the weakest one for today so far, paring some...
The post CPI selloff in Dollar was relatively shallow and the greenback is regaining some footing today. Similar Sterling stays week after post BoE selling, but loss is so far limited. On the other hand, Canadian Dollar remains the...
Australian dollar tumbles broadly today as wage growth data disappoints. That also add to case for RBA to divergence from global tightening and stand pat ahead. Yen surges broadly as GDP miss pressures Nikkei. But Yen is outperformed by Euro, which surges this week on strong German GDP data. Euro is firm in Asian session and is on course for further rally. More important economic data will be released today. Sterling will look into employment data for some support. Meanwhile, Dollar will look into CPI and retail sales to solidify the case for a December Fed hike.
Dollar is trading as the weakest one for today after it's rally attempt failed. Additional pressure i seen in early US session after retail sales miss. Tension between the US and Saudi Arabia and the risks of sanctions are...
The forex markets are generally locked in tight range today. Canadian Dollar is supported by largely expected consumer inflation data. While Loonie is the second strongest for today so far, USD/CAD is stuck in familiar range. The markets are...
Dollar strengthens mildly in early US session as lifted by solid job data. The ADP report showed impressive growth of 253k in private sector jobs in May, much higher than expectation of 181k. Mark Zandi, chief economist at Moody's Analytics Inc. described the job growth as "rip roaring". And he noted "the current pace of job growth is nearly three times the rate necessary to absorb growth in the labor force. Increasingly, businesses' number one challenge will be a shortage of labor." Moody's helps ADP produce the report.
The forex markets are generally in range today except New Zealand Dollar, which tumbles broadly following business confidence data. The US continued to step up its verbal attack on trade partners, but the financial markets are not too bothered...
Sterling and Brexit was the center of focus during the early part of last week. The parliament vote on Brexit was postponed to at least January. UK Prime Minister Theresa May survived leadership challenge but her position is shaky...
Stock markets staged a strong rally in Asian session as lifted by better than expected manufacturing data from China. Both official and Caixin PMI manufactured climbed back into expansionary region, suggests that the worst could be over. Australian Dollar...
Both Sterling and Euro trade firmer after UK Prime Minister Theresa May got Cabinet support for her Brexit deal. But no significant technical development is seen with these two currencies yet. Instead, Australian Dollar steals the show with strong...
US stocks were once again boosted by optimism on Senate passing the tax bill. DOW gained 331.67 pts or 1.39% to close at 24272.35. S&P 500 rose 21.51 pts or 0.82% to end at 2647.58. Both were at record highs. NASDAQ lagged behind but still gained 49.58 pts or 0.73%. Though, Asian markets don't follow and are trading mixed at the time of writing. It should also be pointed out that treasury yield also staged strong rally. 10 year yield closed up 0.041 at 2.417 and looks very safe from key near term support at 2.273. More positive news on tax bill could push 10 year yield through near term resistance at 2.475, which will give support to Dollar, in particular USD/JPY.
Dollar trades in rather tight range as the markets await the summit between US President Donald Trump and China President Xi Jinping. They will greet each other at Trump's Mar-a Lago retreat in Florida late in the afternoon and dine together. The summit will conclude with a working lunch tomorrow. Pressure is on Trump's shoulder to deliver something concrete out of the meeting. Those would include bringing jobs "stolen" by the Chinese back to the US, ending China's "currency manipulation", push China to use its "great influence" on North Korea, etc. Some market participants might have high expectation on the outcome of the summit. But other might just prefer Trump to move his focus back to tax reform, which is, in our view, more essential in determining the financial markets' direction.
After a strong Q1, risk appetite extended into the first week of Q2. The most notable improvements were seen in the bond markets, as German 10-year yield turned positive again. US 10-year yield also reclaimed 2.5 handle. However, stocks...
The forex markets turns mixed in relatively quiet trading today. Earlier selloff in Asia stocks didn't carry forward to other markets. Yen turned slightly softer, following Australian Dollar as second weakest. Sterling's selloff halted and recovers broadly as consolidations...
Riding on the strong rally in the US on Friday, Asian opened the week generally higher. While major Asian indices maintain gains, there is no follow through buying seen. There seems to be enough risks to keep investors' hands...
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