Market Overview
Risk On as Coronavirus Fears Subside, Aussie and Dollar Strong
Australian Dollar remains the strongest one for the week while markets are back in risk on mode. Fears over China's coronavirus seem to have subsided, with S&P 500 and NASDAQ new record highs. 10-year yield also staged a strong rebound, taking Dollar broadly higher too. On the other hand,...
Dollar Surges on Strong ADP Employment, But Aussie Even Stronger
Dollar rises broadly in early US session after strong ADP employment data. But it's outshone by both Australian Dollar and Sterling. The Aussie is apparently helped by return of risk appetite as well as an RBA's governor that's comfortable with current monetary policy. On the other hand, Swiss Franc...
Focus Turns to US Job and Services Data and Coronavirus Fears Recede
The financial markets seem to have stabilized from coronavirus fears. Following the strong rebound in US stocks overnight, Asian indices are also trading generally higher. Yen and Swiss Franc continue to trade as two of the weakest for the week. But Sterling is the worst performing one on Brexit...
Yen and Franc Turns Softer as Markets Stabilized from Coronavirus Fears
Yen and Swiss Franc turn softer today as global markets rebound. China's coronavirus seems to be suddenly off investors mind, at least temporarily. Meanwhile, Australian Dollar is the strongest one for today, as partly supported by RBA's hold, as well as easing risk aversion. Canadian Dollar follows as the...
Aussie Recovers as RBA Gives No Hint of Imminent Rate Cut
Australian Dollar recovers broadly today after RBA stands pat. More importantly, the central bank gives no hint of an imminent rate cut in the accompanying statement. It actually sounds quite comfortable with the current policy. Markets are relatively mixed elsewhere. Sterling turned mixed after yesterday's selloff . Yen also...
Sterling Tumbles on Worries Over Negotiations With EU, Euro Dragged Down
Focuses in the forex markets turned temporarily from China's coronavirus outbreak to Brexit. Both EU and UK expressed strong positions regarding up coming trade negotiations. Their stance reminds traders that risk of cliff-edge Brexit by year end remains. Sterling suffers steep selloff and drags down the Euro. On the...
Risk Aversion Stays as China Back from Holiday, Coronavirus Outbreak Worsens
Risk aversion continues in Asian session as China's coronavirus outbreak continues to worsen. The Shanghai SSE is currently down -8.13%, catching up with others as it's back from holiday. Nikkei is down -1.10%. Singapore Strait Times is down -1.07%. Though, Hong Kong HSI is up 0.09%.
The currency markets, are...
Bets on Fed Cut Surged on China’s Coronavirus Outbreak; Stocks, Yields & Dollar Tumbled
Fear of China's coronavirus outbreak was the major theme in the global markets last week. At the time of writing, number of confirmed cases were close to 12000. While the majority of the infected in China, the virus has spread to at least 23 countries already. And, most important,...
Dollar Mildly Lower after PCE Inflation, But Commodity Currencies Even Weaker
Dollar turns slightly weaker in early US session as core PCE inflation data stayed well below Fed's target. Nevertheless, as risk aversion remains in the markets, commodity currencies continue to be the weakest ones. Sterling continues to rise on post BoE rebound but there is no clear range breakout...
Yen and Swiss France Consolidate ahead of Weekend, Await Coronavirus Outbreak Developments
Sterling remains firm today and continues to trade as one of the strongest after yesterday's BoE hold. Yen and Swiss Franc turn mildly softer but stay as two of the strongest too, on risk aversion. Commodity currencies turned mix, digesting this week's sharp looses. New Zealand Dollar is the...
Sterling Rebounds after BoE Stands Pat, Coronavirus Fears Remain
Sterling surges broadly today after BoE left interest rates unchanged at 0.75%. Only two policymakers, the usual ones, voted for a cut, without additional dove. Swiss Franc and Yen follow as next strongest on coronavirus fears. An Italian cruise ship with 7000 people is held off the coast for...
Risk Aversion Back after a Breather, Coronavirus Cases Top 7700
Risk aversion is back in the markets after taking a breather yesterday, as there remains no sign of containment of China's coronavirus. Yen and Swiss Franc are the strongest ones today, with Yen pressing this week's high against other major currencies. Dollar is mixed shrugging off the non-eventful FOMC...
Dollar & Yen Firmer as Investors Hold Their Hands on Coronavirus Uncertainty
While risk sentiments stabilize today, there is no clear momentum of any meaningful recovery in global stock markets. Investors remain on guard against new developments of China's coronavirus outbreak, which confirmed cases exceed 2003's SARS already. Yen and Dollar trading generally firmer today, as in early US session. Though,...
Aussie Recovers after CPI as Markets Stabilized, FOMC Watched
Sentiments continue to be relatively stable in Asian session today. Hong Kong stocks are back from holiday and tumble sharply. But Nikkei and Singapore Strait times are having mild recovery. Gold is back below 1570 level and WTI crude oil is back at 54. In the currency markets, Australian...
Sterling Under Pressure While Market Sentiments Stabilized for Now
Risk sentiments stabilize some what today as markets are digesting the impact of China's coronavirus outbreak. But there is no clear sign of a turn around in the markets yet. Commodity currencies are just consolidating at low levels. Yen is also staying in tight range close to this week's...
Coronavirus Fear Continues as Confirmed Cases Surge, Forex Markets Taking a Breath
Risk aversion continues in Asian markets as outbreak of China's coronavirus shows now sign of slowing. But the moves in the currency markets seem to have passed a climax. Commodity currencies are consolidating in tight range close to week lows now. Yen, Swiss and Dollar are also digesting some...
Global Stocks in Crash Mode on Coronavirus, Commodity Currencies Pressured
Global stock market could be considered in crash mode as worries over China's coronavirus continues to intensify. Confirmed infections in China jumped to 2835, according to latest information from state media. Death toll continues to stand at 81. WHO Director-General Tedros Adhanom Ghebreyesus is heading to Beijing to offer...
Coronavirus Worries Intensify; Stocks, Oil & Yuan Fall; Yen, Swiss & Gold Jump
The holiday market in Asia is in deep risk aversion as worries on China's coronavirus intensified, after surge in confirmed cases and death tolls. Yen and Swiss Franc jump notably while New Zealand and Australian Dollars weaken. Risk aversion is also clearly seen as gold gaps up, oil price...
Markets Sold Off on Coronavirus Worries, Dollar Momentum to be Capped by Yen Strength
China's new coronavirus overshadowed central bank activities last week and prompted global risk aversion. At the timing of writing, death toll jumped to 41 while more than 1300 people have been infected globally. The virus has already spread from Wuhan to other major cities in China, and globally to...
Euro and Sterling Dip after PMIs, Dollar and Canadian Firmer
European majors are generally weaker today. Stronger than expected UK PMIs add to the case for BoE to stand pat next week. But the Pound shrugs off the data. Euro also receive no particular support from PMIs, which signals that the economy failed to pick up momentum for recovery....