Market Overview
Asian Markets in Deep Red on Trade War, Dollar Surfs Up
The FOMC rate decision overnight was largely ignored by the markets. Instead, Asian equities plunged sharply today as US formally announced to raise the tariffs on USD 200B of Chinese imports from 10% to 25%. Chinese stocks lead the decline with Shanghai SSE down -2.45% at the time of...
Dollar Pares Gain Despite Strong ADP Employment, FOMC Unlikely to Inspire
Dollar pares back some of today's gain in early US session. The better than expected ADP employment data provides no lift to the greenback. Focus will be turning to ISM manufacturing and FOMC rate decision. Nonetheless, as at the time of writing, Dollar is still the second strongest one...
Dollar Higher as Trade War Heats Up Again, Manufacturing Data and Fed Watched
Dollar trades broadly higher today as talks of trade war heat up again. It's reported that Trump is considering to impose 25% tariffs on USD 200B in Chinese goods, instead of 10%. The greenback is followed by Canadian Dollar and then Yen. Meanwhile, New Zealand Dollar, Australian Dollar and...
Euro Strengthens on CPI Surprise, Yen Extends Post BoJ Selloff
Euro emerges as a strong one today after a number of volatility triggering events. Upside surprise in Eurozone inflation is a key factor lifting the common currency higher. Australian Dollar is also strong, competing with Euro for the biggest gainer today. Meanwhile, stronger than expected GDP data lifted Canadian...
Yen Spikes Lower after BoJ, But No Follow Through Selling Yet
Yen spikes lower broadly after BoJ announced to strengthen the framework for continuous powerful easing. But at this point, there is no follow through selling seen yet. Instead, of raising the target on 10 year JGB yields, BoJ simply allow flexibility to move it in move directions of up...
Unclear Direction in Forex Markets, Yen Softer ahead of BoJ
Euro and Swiss Franc are lifted in earlier today but was then out-performed by New Zealand Dollar. On the hand, Yen and Australian Dollar are trading as the weakest ones, followed by Dollar. Direction in the forex markets is relatively unclear as traders turned a bit cautious ahead of...
Forex Markets Steady, But Volatility Guaranteed in an Unusually Busy Week ahead
Dollar opens the week broadly firmly, followed by Sterling as the second strongest. On the other hand, Australian Dollar is trading with and broad-based soft tone, followed by Canadian Dollar. Nonetheless, all major pairs and crosses are bound in Friday's range only, suggesting that they're in consolidative mode. In...
CAD, JPY and USD Ended as the Strongest in a Week of Trade Talk and Surging Yields
EU-US trade talk and surge in yields in Japan and the US were the two major themes last week. But it was Canadian Dollar which quietly ended as the strongest one last week. US holding off car tariffs is definitely a positive for Canada and could clear the way...
Dollar Firm But Lacks Upside Momentum after Solid Yet Unspectacular GDP
Dollar stays firm in early US session after US delivered a solid yet unspectacular GDP report. While the greenback attempts strengthen today, so far, it's held in range against all other major currencies. There is no committed buying in Dollar up to this point. Yen is trading as the...
Yen Firm as JGB Yield Rally Persists, Dollar Looks into Q2 GDP
Yen remains generally firm today with help from strength in JGB yields. 10 year JGB yields hit as high as 0.113 and is now hovering at around 0.10. Nonetheless, Yen is outperformed by Canadian Dollar, which is lifted by NAFTA optimism. While the greenback is softer today, downside is...
Euro Mildly Lower after Balanced Yet Uninspiring Draghi, Dollar Picking Up Strength Slightly
Euro weakens slightly against Dollar after ECB left monetary policy unchanged as widely expected. President Mario Draghi delivered a balanced yet Uninspiring press conference. Fresh buying is seen in Dollar in early US session and the greenback has overtaken Yen as the strongest major currency for today. But it's...
Euro & Dollar Softer after Trade Talk Breakthrough, Canada Emerges as Clear Winner
While it appeared that there was a breakthrough in EU-US trade negotiation, the news provide no lift to Dollar nor Euro. Both are trading mixed in Asian session. Indeed, Dollar is the weakest one for the week so far, followed by Euro as the second weakest. On the other...
Dollar and Euro Soft With Master of Deal vs Brutal Killer on the Card
Dollar and Euro are trading generally lower today, except versus Australian Dollar. The meeting between Donald "master of deal" Trump and Jean-Claude "the brutal killer" Juncker is closely watched. But it's highly unlikely to yield any results on trade. Trump's recent threat on tariffs on all Chinese products, the...
Daily Report: Euro and Dollar Mixed ahead of the Juncker-Trump Meeting
Sterling appears to be lifted by the news that UK Prime Minister Theresa May has taken over Brexit negotiation. That raised the chance of some speedier conclusions as well as more unified position, as least in front of the EU. The pound is trading as the strongest one for...
Euro Gain Capped by Lackluster PMIs, Dollar Turns Soft
While the Japanese Yen is staying generally firm, Dollar fail to hold on to earlier gains and turns softer. While Euro strengthens mildly against Dollar, it's upside is limited by lackluster PMI data. On the other hand, thanks to strong global risk appetite Australian and New Zealand Dollar regain...
Treasury Yields Continue to Support Yen and Dollar, Risk Appetite Ignored
Yen and Dollar are trading as the strongest ones for today and the week, as boosted by treasury yields. In particular, the Yen shrugs off strong risk appetite in Asia, as led by Chines stock markets. 10 year JGB yield opened higher at 0.088 and stays firm at around...
Yen Pares Gain While Dollar Attempts Rebound
Yen is paring some gain in early US session but remains the strongest one for today, followed by Swiss Franc. Meanwhile, Australian Dollar overtakes Dollar as the weakest one. Euro follows as the second weakest as pressured in crosses. Dollar is trying to recover against other but there is...
Sharp Rally in 10 Year JGB Yield Takes Yen Higher, Dollar Stays Weak
Yen trade broadly higher today as boosted by the steep rally in 10 year JGB yield. That also sends Nikkei sharply lower as it's down -333 pts or -1.47% at the time of writing. Other Asian markets are steady thought with China Shanghai SSE trading up 0.37% and Hong...
How Did Stocks, Bonds and Dollar React to Trump’s Attack on Fed?
Dollar was sold off sharply on Friday but, after all, it ended the week only as the third weakest. Sterling was the worst performing one after triple data disappointment, most notably CPI. The once done-deal BoE August rate hike is now back on the table. Australia Dollar ended as...
Dollar Sharply Lower as Trump’s Reliable Ally Challenges Him on Tariffs, Canadian Dollar Jumps on Strong Data
Dollar suffers steep selloff in the early US session as WSJ reports that Senate Finance Committee Chairman Orrin Hatch sent a letter to Trump requesting him to reconsider his trade policies. And Hatch warned that GOP senators may be ready to risk a legislative confrontation with Trump if he...