Global stock markets are lifted by the agreement on the EUR 750B Next Generation EU recovery package. Commodity currencies surge broadly with Australian Dollar leading the way. RBA Governor indicated that the current exchange rate is inline with Australia's fundamentals. On the other hand, Dollar, Yen and Swiss Franc...
Euro weakens somewhat today after EU finally reached an agreement on the recovery fund. Traders seem to be taking some profits as expectations become news. Though, New Zealand Dollar is even weaker, partly thanks to cross selling, especially against Aussie. Canadian and Aussie are the strongest ones on risk-on...
While Euro rises initially today it's starting to be overwhelmed by Sterling and Swiss Franc entering into US session. Words from officials regarding the talks of EU recovery fund were positive. European Commission President Ursula von der Leyen said the leaders showed "clear will to find a solution" and...
Euro's rally continues today as, despite some jitters, it appears that EU would agree on a compromised deal of recovery fund. It's reported that after marathon negotiations, the Netherlands, Austria, Denmark and Sweden are satisfied with EUR 390B fund being made available as grants with the rest coming as low-interest...
Euro ended last week as the strongest one, as pushed up by hope of an agreement over EU's post-pandemic recovery fund. The strength was particularly apparent against Swiss Franc and Sterling. Yet, up till the time of writing, there seems to be no consensus reached at the EU summit...
Euro and Swiss Franc rise broadly today but upside is so far limited. Traders are still cautiously awaiting EU leaders's decision on the EUR 750B recovery fund. On the other hand, Sterling suffers notable selling for today, thanks to selling in cross against Euro. Canadian Dollar is following as...
The forex markets are generally stuck inside yesterday's range in subdued trading today. Chinese stocks attempted a recovery at the start of the session, but quickly turned into red again, continuing with Thursday's mini-crash. Other Asian markets are mixed though, with not much reactions to weaker US close overnight....
The sharp reversal in Chinese stocks is somewhat weighing on global sentiments today. European indices are generally in red while US stocks also open mildly lower. Dollar firms up mildly but upside momentum is unclear for now. Euro is also resilient after ECB stands pat as widely expected and...
Dollar is trying to recover today as Asian markets turned into risk-off. Better than expected Q2 GDP data from China is largely ignored. Instead, Chinese stock lead Asia lower on concern of escalating geopolitical tension in South China Sea. Sterling is so the weakest for today as job data...
Markets are in strong risk-on mode again on coronavirus vaccine hopes. Moderna group said earlier that the vaccine candidate produced a robust immune system response in a large group of people. Next will be a decisive clinical trial in July. Major indices in Asia and Europe record strong gains,...
Risk-on trades dominated the US markets overnight, as Fed officials indicated the willingness to keep accommodative measures in place. Yet, sentiments turned mixed in Asian markets. Hong Kong and Chinese stocks are weighed down by US President Donald Trump's decision to end Hong Kong's special status, after China imposed...
Risk sentiments continues to be weak today but selloff in the stock markets is so far limited. Euro rides on the indecisive markets and surges broadly today, with help by strong rally against Sterling. Swiss Franc is following as the second strongest so far. On the other hand, New...
Sentiments seemed to have a turn as surge of coronavirus cases in the US pushed California back into lockdown. Asian markets are under some selling pressure. But the more indicative development was the sharp -2.13% decline in NASDAQ overnight. It remains to be seen if tech index is finally...
Risk appetite is generally firm today with European indices trading in black while US stocks also open higher. Rebound in oil prices help push Canadian Dollar to be the strongest one today, followed by Australian. On the other hand, Yen and Swiss Franc are generally weakest. Though, it's a...
Asian markets open the week with risk-on sentiments, carrying forward the optimism over coronavirus treatment. Dollar and Yen are back under pressure again while Australian Dollar, Euro and Sterling are trading generally higher. Gold also firms up above 1800 handle, riding on Dollar's softness. The economic calendar is rather...
Development of coronavirus pandemic was the main driver in rather dull markets last week. Just when it looked like risk-off was back on second wave of infections, markets were saved by news from Gilead Sciences regarding the test results on redmesivir. NASDAQ has extended its record run, helping treasury...
The financial markets are still refusing to commit to a direction. Major European stocks are generally higher despite broad selloff in Asia. US futures point to lower open while 10-year yield is doing its best to hold on to 0.6% handle. Swiss Franc is currently the worst performing one...
Yen surges broadly today as the financial markets are back in risk-off mode. Or at least, rally in Chinese stocks is having a pause. Investors some what turned cautious ahead of the week. US Secretary of State Mike Pompeo announced sanctions on some Chinese officials, including a Politburo member,...
Sterling continues to trade as the strongest one on stimulus optimism while Europe majors are also firm. On the other hand, Dollar remains the weakest one, even worse than Japanese Yen. Stock market rally might take a breath again today with US futures pointing to flat open. Major European...
Dollar is sold off broadly while Yen is following as the second weakest. Sentiments are apparently lifted by stimulus hopes despite surge in global coronavirus cases. European majors are leading the way higher, with Sterling having a touch more strength. Commodity currencies, on the other hand, somewhat lag behind....