Market Overview
Sterling Tumbles on Brexit, Investors Cautious on Trade Talks
Investors turned generally cautious again after Bloomberg came back with another report that US is on ways to further scrutinize index providers' decision to add Chinese firms that could be material risks for investors. The administration believed that Americans are harmed by channeling funds into Chinese companies which pose...
Sentiments Improved Mildly as Trade Talks Awaited, Yen and Dollar Softer
Yen weakens generally today in response to rebounds in Asian markets, as China and Hong Kong are back from holidays. Additionally, US 10-year yield closed mildly higher at 2.045 overnight, seemed to be drawing some support from 2% handle. But sentiments are still capped by uncertainties over US-China trade...
Sterling Lower on Brexit Uncertainties, But Ignore Scottish Court Ruling
Sterling trades generally soft today as markets are awaiting Brexit developments. Scotland's Outer House of the Court of Session ruled against the request to force Prime Minister Boris Johnson to seek Brexit delay. But that was only because "government's clearly stated position before the court, there is no need for...
Yen Firmer in Quiet Markets, Eye on US-China Trade Talks
The forex markets are generally quiet today, staying in tight ranges. Trading is subdued with China and Hong Kong on holiday. Yen, Euro and Dollar are the mildly firmer ones. Australian Dollar, Sterling and Swiss Franc are the relatively weaker ones. US-China trade talks and Brexit will be the...
Dollar Ended Lower on Recession Fear and Fed Cut Bets, Awaits Trade Talks
Dollar ended last week generally lower, except versus Swiss Franc and Canadian Dollar. The greenback was pressured as poor economic data raised recessions fears while traders added to bet of Fed cut this month. Though, there is no clear sign of bearish reversal in the greenback yet, except versus...
Dollar Directionless after Mixed Non-Farm Payrolls
Dollar is relatively directionless in after mixed job data. The headline number is a slight miss and wage growth disappoints. Yet, unemployment rate dropped to lowest level since 1969. For today, Sterling is the weakest one as it looks like EU is not so happy with UK's new Brexit...
Dollar Soft ahead of Non-Farm Payroll, 10-Year Yield Dived
Dollar trades generally softer today as markets turned cautious ahead of non-farm payroll report. After a string of weak economic data from the US this week, recession fears intensified. NFP today could be a make-or-break point for investor sentiments in general. For now, Swiss Franc is the weakest for...
Sterling Rebounds as Johnson’s Brexit Plan Got Tories Backing
Sterling rebounds strongly as news emerged that UK Prime Minister Boris Johnson's new Brexit plan is well received by Conservatives. The news is more than enough to offset poor PMI data released earlier today. New Zealand and Australian Dollars are following as second strongest for today, paring some of...
Markets in Risk Aversion on Recession and Trade War Concerns, Yen Strong
Yen remains generally firm in Asian session today as risk aversion dominates. Selloff in US stocks overnight spilled over to other markets. Poor economic data, manufacturing and employment, raised recession concerns. Additionally, US is taking another step in global trade war, by raising tariffs on EU after WTO ruling...
Dollar Regains Control With Job Data, But Yen Much Stronger
Dollar regains some control and stays firm after ADP job report. Though, it's outshone clearly by Yen which is lifted by risk aversion. New Zealand Dollar comes in as second strongest as it's paring some of recent losses. On the other hand, Swiss Franc drops notably after poor CPI...
Dollar Rally Halted, Focus Turns to ADP Job First
The forex markets are trephining in rather tight range today. Dollar turned mixed overnight after poor ISM manufacturing data. Chance of another Fed cut in October, as priced in by fed fund futures, rose to 63.1%. But outlook could change drastically with upcoming data, including ADP jobs today, ISM...
Dollar Rises as Fed Evans Hints that Rate Cut is Done
Dollar surges broadly today after a Fed dove said that the rate cuts delivered are already enough to lift inflation back to target. Euro somewhat shrug off weak inflation and PMI data and follows as second strongest, then Swiss Franc. Australian Dollar is the weakest one after RBA's dovish...
Aussie Dives after RBA Dovish Rate Cut, Dollar Strong
Australian Dollar drops broadly after RBA cut interest rate as widely expected. The central bank also maintains easing bias, suggesting that the easing cycle might not be over yet. Poor housing data also weight on sentiments. New Zealand Dollar is following as second weakest and then Japanese Yen. On...
Euro Dives Again on Poor German CPI, Dollar Jumps
Euro drops broadly today as pressured by renewed selling following weaker than expected German inflation data. That's more than enough o offset improved unemployment rate. For now, though, Swiss Franc is the weakest one, followed by New Zealand Dollar. On the other hand, Dollar surges broadly, with the help...
Sentiments Weighed Down by Risk of US-China Financial Decoupling, Kiwi Falls on Business Confidence
The markets are trading in mild risk averse mode ahead of quarter end. There are some worries of financial decoupling of US and China even though it's just at very preliminary stage. But selloff is limited with support from improvements in Chinese PMIs. Yen is trading generally firmer. On...
Sterling and Euro Broadly Pressured, Dollar Mixed Awaiting Trade Talks
Weakness in Sterling and Euro was the main directions in the forex markets last week. Dollar tried to extend recent rally but ended mixed only. Upside of the greenback was limited by persistent trade uncertainties. While commodity currencies ended higher, they have just merely turned into consolidations and pared...
Sterling Pressured as BoE Hawk Turns Dovish
Sterling weakens generally today after a known BoE hawk Michael Saunders surprisingly turned dovish. The Pound will likely end the weak as the worst performing one. Euro is trying to recover but there is little committed buying so far. The common currency is set to end the week. as...
Dollar Firm after Breaking Key Resistance Against Euro
Dollar stays firm in rather quiet pre-weekend trading today. EUR/USD's break of 1.0926 support is a clear sign of greenback's strength. Yet, we'd still prefer to seen more buying in other Dollar pairs to confirm. For the week, European majors are generally the weakest as led by Sterling. Dollar...
EUR/USD Makes New 2019 Low But No Follow Through Selling Yet
Forex traders remain rather uncommitted today. Euro was weighed down by renewed weakness in German 10-year bund yield, which hit as low as 0.594. The common currency hit new 2019 low against Dollar but there is no follow through selling. Australian Dollar also recovers notably after initial weakness. On...
Dollar Buying Lost Momentum ahead of Key Resistance
The forex markets remain in rather indecisive mode for now. Dollar buying attempted to take off yesterday, but quickly lost momentum. The greenback pares back some of yesterday's gains in Asian session. Similarly, there was no follow through selling in Australian and New Zealand Dollar so far. Yen is...