Market Overview
Dollar Mixed in Subdued Trading, With Prospect of Recovery Before Close
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....
Dollar Firms Up as Chinese Stocks Drag Others Lower, Euro Firm after ECB
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 Trying to Recovery as Asia Turned Risk-Off, ECB Awaited
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...
Coronavirus Vaccine Hopes Prompt Full Risk-On, Dollar and Swiss Franc Dive
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,...
Dollar Tumbles as Fed Stimulus Hope Boosts Risk-On Trades
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...
Euro Surges in Indecisive Markets, Sterling Stays Weak
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 Turning on Lockdown Concerns, Sterling Down on Weak GDP Rebound
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...
Yen Down Further on Risk Appetite, Sterling Also Weak
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...
Risk-On in Asia, Dollar and Yen Weaken Again
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...
Weekly Report: Coronavirus Drove Markets, Second Wave Concern Offset by Treatment Optimism
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...
Yen Staying Firm But Risk Markets Refuse to Give Up
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...
Aussie Tumbles on Coronavirus Spike, Yen Flies on Risk Aversion
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 Shine While Stocks Take a Breather
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 Selloff Resumes as Euro Powers Up
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....
Gold Surges Through 1800 While Currencies Range Bound
Major forex pairs and crosses are staying inside yesterday's range as trading turned subdued. US futures are nearly flat despite mild weakness in European markets. Europe majors are currently the strongest ones for the week, as led by Sterling. The Pound is paying no attention to the deadlock in...
Commodity Currencies Weaken as Risk Rally Lost Momentum, Sterling Shrugs Brexit Deadlock
Australian Dollar weakens generally today and takes commodity currencies lower too. Risk-on markets have taken a halt this week, with some notably pullbacks in the US markets overnight. But Asian markets are just mixed. European majors are generally firmer for today, as led by Sterling. Brexit negotiations deadlock is...
Sterling Regains Ground as Dollar Lacks Follow Through Buying
Markets are in mild risk-off mode today but losses are so far limited so far. Dollar attempts for a rebound but upside is so far limited. The greenback is somewhat outshone by Sterling, which is regaining so strength, in particular against Euro and Yen. Australian Dollar is currently the...
Aussie Lower as Melbourne Back in Lockdown, RBA Stands Pat
Australian Dollar trades mildly lower today as Asian stocks outside China are paring gains. Also, as coronavirus virus cases surged again in Victoria state, Melbourne is back in lockdown. Meanwhile, RBA stands pat as widely expected and provide little inspirations. As for now, commodity currencies are also weak while...
Markets in Full Risk On, Dollar Tumbles While Euro Surges
Powerful rally in Chinese stock markets push global equities sharply higher today. Europeans indices are all in black, DOW future is up nearly 400 pts while NASDAQ is set to extend record run. Yen and Dollar are both the worst performing ones in risk-on markets. Euro is the strongest...
Euro Jumps as China Markets Extend Powerful Rally
Dollar and Yen are under pressure today as Asian markets opened the week with strong rally. In particular, Chinese stocks are extending last week's powerful rise, taking Hong Kong equities up too. In the currency markets, though, Euro is currently the largest beneficiary and is so far the strongest....