Market Overview
Forex Markets Tread Water as Impact of Oil Rally Fades
The forex markets remain relatively quiet in Asian session today. Canadian Dollar surged briefly yesterday as lifted by rally in oil price. WTI crude oil remains firm in at 65.80, after rising on news that US is ending Iranian oil sanction wavier for eight countries. But the boost to...
Canadian Dollar Pulled Higher by Oil, But Cautious ahead of BoC
Canadian Dollar open the week generally higher, as helped by strong rally in oil price, on supply concern. Though, the Loonie is generally bounded in range only. BoC rate decision and statement this week will be crucial to the next move. For now, risks are mildly on the upside...
Strong Retail Sales and Jobless Claims Boost Dollar, But Yen Outperforms
Dollar jumps broadly in early US session after very strong retail sales and jobless claims. Yen is the only one stronger than the greenback, thanks to pull back in global treasury yields. Euro, as well as benchmark German yield tumble as poor PMIs dent hope for a recovery in...
Eurozone PMIs, Retail Sales from UK, US and Canada Watched
Asian markets turned softer today, ahead of long weekend. Major indices are trading in slightly in red as traders lighten up positions. In the currency markets, Yen is so far the strongest one for today, naturally. Australian Dollar is the second strongest, as lifted slightly by solid employment data....
Canadian Dollar Jumps on CPI, Treasury Yields Rise on China Data
Global treasury yields are boosted by solid data from China today. German 10-year yield hit at high as 0.104 and is now back at around 0.08. US 10-year yield breaches hit 2.614 and it's now trying to own 2.6 handle. These are both signs of improvements in market sentiments...
Aussie Lifted by Strong China Data, Kiwi Tumbles on CPI and RBNZ Bets
Australian and New Zealand Dollars have very different fortunes today. Aussie was boosted higher by stronger than expected Chinese data. On the other hand, Kiwi dived as weaker than expected CPI raises the chance of RBNZ rate cut at next meeting. In between, Euro is the second strongest so...
Funds Flowing Out of Safe Haven Swiss Franc, Gold and Bonds
Funds are flowing out notably from safe haven assets today. Gold dives through 1280 handle and is resuming fall from 1346.71 high. German 10-year yield is up for another day at 0.067. US 10-year yield is also trading stronger at 2.575, possibly targeting 2.6 handle. In the currency markets,...
Australian Dollar Tumbles on Dovish RBA Minutes, New Zealand and Canadian Also Weak
Commodity currencies are generally under some selling pressure today. Australian Dollar is the weakest one as RBA took another step to laid the ground for rate cut by dovish minutes. RBNZ Governor Adrian Orr reiterated the central bank's easing bias. Canadian Dollar was sold off overnight after poor Business...
Forex Markets Turn Mixed as Risk Appetite Cools, More Inspirations Needed
The forex markets turn relatively mixed today and markets lack a general direction. Risk appetite appeared to be firm earlier in Asian session but quickly faded. Major US indices open the day mildly lower. While German 10-year yield is trading up at the time of writing, US 10-year yield...
Risk Appetite Lifted by More US-China Trade Optimism, Eurozone and China Data Watched This Week
Dollar trade mildly lower in Asian session after more verbal attack on Fed by Trump. Australian Dollar follows as second weakest, paring some of last week's gains. On the other hand, New Zealand Dollar is the second strongest one, followed by Sterling. But after all, all major pairs and...
Yields Surged, Yen Tumbled on Receding Global Risks
The financial markets were generally dominated by positive sentiments last week. Major global economic risks seemed to be receding generally, even though some uncertainties remain. The development was best seen in the strong rally in treasury yields. US 10-year yield closed the week up 0.059 at 2.56, above 2.554...
Global Sentiments Boosted by Rebound in Chinese Exports, German & US Yields Surge
Global market sentiments appeared to be given a strong boost by trade data from China. The much larger than expected rise in export is seen as positive sign of global demand. While there were some weak spots in the set of data, investors are enjoying the rally anyway. The...
Euro Picks Up Broad Based Strength Thanks to Rebounds in Crosses
Euro jumps broadly in Asian session today, partly by extended rebound in EUR/AUD, EUR/CAD, and more importantly EUR/CHF. The common currency has clearly left behind the mild dovishness of ECB earlier this week. EUR/JPY also resumed recent rise thanks to broad based weakness in Yen. Stocks markets are mixed...
Dollar Rebounds as Boosted by Jobless Claims, But No Confirmation of Turnaround Yet
Dollar strengthens notably in early US session with help from another set of solid job data. Initial claims is back trending down and hit another low since 1969. 10-year yield is also recovering and could head back to 2.5 handle. Meanwhile, Euro is following as a close second. Canadian...
Sterling Mildly Higher after Brexit Extension, Dollar Mixed after FOMC Minutes
Sterling is given a mild lift after EU grants UK Article 50 delay till October 31. Even though it's still uncertain how Prime Minister Theresa May could get the Withdrawal Agreement through the parliament, the cliff-edge is at least pushed for nearly six months. The Pound is, after all,...
Euro Pressured after ECB, Yen Rises on Falling Treasury Yields
Euro weakens broadly after ECB kept monetary policies unchanged. While president Mario Draghi delivered not much new in the press conference, he did acknowledged that downside risks are materializing. Recovery in EUR/USD and EUR/JPY now look rather short-lived. Meanwhile, Dollar is mixed after CPI data offered nothing for Fed...
Yen Digests Gain as Trade War Threats Continue to Weigh on Sentiments, ECB to Stand Pat
The forex markets are relatively steady in Asian session today. For the week, Yen is so far the strongest, following mild risk aversion. Investors are concerned that the US is going to escalate trade war with EU, while they haven't even finished negotiations with China. The punitive and retaliation...
Trump’s Threat of US-EU Trade War Sends Dollar, Yield and Stocks Lower
Dollar suffers new round of selling in early US session after Trump confirmed his intention to escalate trade war with the EU with his tweet. DOW opens sharply lower and is down -190pts at the time of writing. US 10-year yield also suffers as investors turn cautious again, breaking...
Dollar and Euro Pressured as Trump is Starting US-EU Trade War
Dollar and Euro are trading as the two weakest ones today as pressured by renewed threats of escalation in global trade war. While trade talks with China continue to drag on, US is preparing to start another battle targeting EU. Meanwhile, Sterling is trading generally firm, but bounded in...
Euro Higher as Investor Confidence Improves, Yen also Recovers as Risk Markets Turned Mixed
Euro receives a wave of buying in European session, partly as lifted by improving investor confidence data. EUR/USD's break of last week's high is a positive development. Yet, the rally is not strong enough to warrant near term bullishness yet. Meanwhile, the common currency remains bounded in familiar range...