Market Overview
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....
Markets Welcome Solid Economic Data and Ignored Coronavirus Numbers
Markets looked rather indifferent to the resurgence of coronavirus infections. Daily new cases surged to new high above 200k. Total cases broke 11m while deaths is closing in to 530k. But traders and investors couldn't care less. Instead, sentiments were lifted by hope of recovery ahead, with Q3 already...
Sentiments Supported Further by China Services Data, Yen and Dollar Soft
Markets are generally trading in risk-on mode today. NASDAQ surged to new record highs overnight following solid US job data. Better than expected China services data continue to support sentiment. Yen, Dollar and Euro are set to end the week as the worst performing ones while Sterling and commodity...
Strong NFP Lifts Stock But Not Dollar, Yen Weakens
Strong employment data from the US boosts market sentiments as DOW future is up over 400 pts at the time of writing. European indices are also extending gains. The greenback however, shrugs of the data and it's trading as the second weakest for today, next to Yen. New Zealand...
Sterling Could Steal the Show From Dollar as Focus Turns to NFP
Dollar and Yen are both trading as the weakest ones for the week for now. FOMC minutes released overnight gave little support to the greenback, nor that ADP job number and ISM manufacturing. Focus is turning to non-farm payrolls report to be released today. Sterling's roller coaster ride continues...
Euro Tumbles in Indecisive Markets, Mildly Risk-off
Markets continue to trade in rather indecisive mode today. DOW futures point to mildly lower open, following European stocks, and is getting not support from solid ADP job data. Yen appears to be rebounding but it's kept well above near term resistance level against others. Swiss Fran, on the...
Yen Up after Poor Tankan, Mixed Markets Await Guidance
The overall markets remain rather mixed so far. Rebound in US stocks overnight didn't carry forward to Asian session. Nikkei is weighed down by poor Tankan survey data. Dollar's rally attempt was somewhat knocked down by up trend resumption in Gold. Recovery in oil prices also dragged down the...
Dollar Firms Up But Yet to Break Resistance Against Weakening Euro
Dollar continues to stay firm in early US session as supported by strength against Sterling, Yen and to a lesser extent Canadian. Yet, the moves are rather indecisive elsewhere. The greenback remains bounded in range against Euro and Aussie, and even Swiss Franc. Euro receives no support from stronger...
Yen and Franc Weaken Broadly, Euro Strength Uncertain
Yen and Swiss Franc are trading as the weakest ones for the week so far, partly due to the strong rebound in stock markets overnight. Sterling is following as the next worst performing as traders continue to price in Brexit uncertainties. Yet, it's unsure which currency is benefiting most...