Market Overview
Aussie Follows Stocks Higher, While RBA Stands Pat
Australian dollar jumps broadly today after RBA kept monetary policies unchanged as widely expected. Aussie is additionally helped by the strong rally in US stocks overnight, even though the rise in Asia markets is relatively muted. Also, China, the origin of the coronavirus pandemic, is set to end the...
Stocks Rebound as Germany Prepares Lockdown Exit But Japan Readies State of Emergency
Global stocks strength in general as major coronavirus epicenters seem to be starting to flatten the curve. It's reported that Germany is even planning for lockdown exit. However, it remains uncertain when this coronavirus pandemic is going to end, and the world would return to normal. Risk in second...
Markets Recover Mildly as Coronavirus Deaths Slow, But Sterling Weak
Asian markets are trading up mildly as the week starts, after coronavirus deaths in New York State fell for the first time. Italy also reported the fewest deaths in more than two weeks. However, investors remain cautious as it's still almost impossible to forecast the full impact of the...
Dollar Jumped as Markets Started Q2 With Risk Aversion, But Oil Rebounded
The financial markets didn't start the second quarter with a bang even though coronavirus pandemic carried on. Globally, confirmed cases surged through 1.1m level but that's now more of an indication of the speed of tests. Death toll, on the other hand, remains worrying as it broke 60k handle...
Dollar Remains Firm, Markets Unmoved by Scary NFP
While the US continues to post scary job numbers, the markets couldn't care less. Investors know the numbers would be bad and it doesn't matter how bad they are. The point is, there has to be an end to the coronavirus pandemic, which originated from China. Otherwise, the economy...
Dollar Firm as NFP Awaited, Euro Broadly Weak
Dollar is currently trading as the strongest one for the week, followed by Yen. On the other hand, Euro and Swiss Franc are both the weakest ones for now. Overall sentiments in the market are mildly risk averse but there is no committed move. Oil price was given a...
Muted Reactions to Jobless Claims, Dollar Picking Up Some Buying, Euro Weak
It seems that the markets are not having a clue on what to do next. While US initial jobless claims doubled to 6.6m, reactions are rather muted. DOW futures are staying positive for now, while European indices are mixed. Dollar seems to be picking up some buying after the...
Dollar and Yen Rally Still Lack Conviction, Range Trading Continues
US stocks suffered the worst start to a quarter in history overnight. But Asian markets are generally steady after initial weakness. Other markets are generally stuck in familiar range. Dollar and Yen remain the strongest one for the week but there is still no clear follow through buying. Oil...
Dollar and Yen Back in Driving Seat as Risk Aversion is Coming Back
Dollar and Yen are trading as the stronger ones today as risk aversion seems to be coming back as another quarter starts. Commodity currencies are thew weakest ones as led by Canadian Dollar for now. Private job data from the US were not as bad as expected. But just...
Markets Remain in Quiet Mood, Dollar Rebound Lost Momentum
Markets are starting another with rather quiet mood. Some economic data might be not as bad as expected, but they're giving no lift to sentiments. Dollar attempted for a rebound overnight but there was apparently no follow through buying. Gold's dip was a positive sign for the greenback but...
Dollar Showing Signs of Rebound While Other Markets Consolidate
Markets continue to staying in tight range today as consolidations continue. There is still no end in sight regarding the coronavirus pandemic, with confirmed cases breaking 800k handle, and deaths above 39k. Movements in the major stock indexes are mild based on recent standard. WTI crude oil is back...
Chinese Data Fail to Lift Sentiments, Markets Locked Down in Range
Markets are generally directionless in Asian session today. Strong rebound in China PMIs somewhat fails to lift sentiments. As the origin of the coronavirus pandemic, China could be the first country to come out of it. Yet, one month of data is insufficient to confirm recovery, as the world...
Dollar Recovers as Risk Sentiments Turn Soft, Still Early to Call Bottom
Global financial markets are generally quiet today. Stocks quickly pared back some of initial losses even though major indices are staying in red. US futures suggest that there is no clear direction for now. Dollar recovers generally and appears to be gathering momentum entering into US session. Yen, Swiss...
Asian Markets Lower as US Gives Up Easter Coronavirus Target, Yen Firmer
Asian markets open the week generally lower as there is no sign of even a slowdown in coronavirus pandemic. The US has also given up hope for returning to normal by Easter. Yen strengthens generally, followed by Dollar. Meanwhile, Sterling and Euro are giving up some gains. Movements in...
As Recovery in Stocks Lose Momentum, Could Dollar Strike Back?
While the coronavirus pandemic continued to worsen globally, investor sentiment somewhat stabilized after governments and central banks rushed to push out tighter lockdown measures, fiscal stimulus and monetary easing. Dollar suffered massive selling on easing risk aversion, improving funding conditions, as well as Fed's QE infinity. Canadian Dollar ended...
Markets in Profit Taking Retreat, Yen and Dollar Recovering Grounds
European stocks and US futures turn softer today, apparently on pre-weekend profit taking again. FTSE is additionally pressured, possibly as Prime Minister Boris Johnson was tested positive for coronavirus. In the currency markets, Yen regains some ground together with Swiss Franc and Dollar. Commodity currencies are mildly lower. However,...
US Coronavirus Infections and Stocks Surge, Dollar Weakens
Dollar is set to end the week as the week as the worst performing as corrections in the financial markets extend. Asian indices are generally higher following another day of strong close in the US overnight. Yen follows Dollar as the second weakest naturally as risk aversion eased. Meanwhile,...
Dollar Stays Soft after Shocking Jobless Claims, BoE Stands Pat
Dollar softens mildly again today as consolidation extends. The shock delivered by initial jobless claims is actually rather well expected. The greenback dips slightly after Fed chair Jerome Powell's comments, but that's it. BoE keep monetary policies unchanged at the scheduled meeting today, which also triggered little reactions. Yen...
Risk Rebound Fades as Focus Turns to Jobless Claims and BoE
Asian markets turn softer today as boost from US stimulus package fades very quickly. Focus will instead turn to BoE rate decision and US jobless claims. In particular, the latter would reveal how serious the initial impact of coronavirus outbreak in the US is. In the currency markets, commodity...
Markets Turned Mixed after Stimulus Rally, Dollar Staying in Consolidations
The stimulus deal in US Congress gave markets just a very brief lift. European indices turned mixed after initial rally while US futures are essentially flat. Trading in the currency markets is subdued too with Australian Dollar leading commodity currencies higher. Yen, Swiss Franc and Dollar remain soft. Gold...