Market sentiments show signs of revival today, appeared to be buoyed by optimism over a potential debt ceiling agreement between US Democrats and Republicans. Over the weekend, Treasury Secretary Janet Yellen delivered upbeat remarks, indicating that negotiations were in full swing and marked by "some areas of agreement."
This optimism...
Yen declines broadly in Asian session, appears to be more of a reaction to rally in Nikkei, which broke through 29500 level for the first time since November 2021, and now seems poised to challenge 30000 psychological level. Dollar, along with its safe-haven counterpart, Swiss Franc, also trended lower...
In the currency markets last week, Dollar, Yen, and Swiss franc Emerged as the standout performers. Conversely, New Zealand and Australian dollars lagged, painting a picture suggestive of risk aversion within the markets. However, this sentiment has not yet manifested itself in the stock markets, at least not with...
Dollar is capitalizing on its recent rebound in early US sessions, bolstered by data that showed a 0.4% month-on-month rise in import prices for April – marking the first increase since late 2022. This resurgence places the Greenback on track to be this week's top performer, trailed by Japanese...
In the wake of comments from BoE Governor Andrew Bailey suggesting a potential pause in rate hikes, Sterling has taken a sharp downward turn overnight. Despite the expected 25bps hike yesterday, Bailey's interview with Bloomberg TV sent ripples through the market, causing a broad sell-off of the Pound. With...
Sterling's response to BoE rate hike has been somewhat ambivalent. Despite BoE's openness to further tightening and a rosier economic outlook, forecast for inflation indicates a marked downturn, with a "material" undershooting expected in the forecast horizon. The voting pattern held no surprises, leaving the Pound now turning its...
As the market holds its breath for today's BoE rate decision and economic projections, Sterling is trading on a softer note, barring against Euro. Overnight attempts to resume the recent rally against Dollar were short-lived, with the Pound returning swiftly to its familiar range. The potential for hawkish and...
Dollar finds itself on the back foot in early US trading as data showed both headline and core CPI slowed in April. This data release has also sent 10-year yield plummeting below 3.5% mark. Japanese Yen is finding some strength, bolstered by the drop in yields. On the other...
Dollar is trading mixed in Asian session today as market participants eagerly anticipate April's consumer inflation data from the US. The much-anticipated meeting between US President Joe Biden and Republican House Speaker Kevin McCarthy unfolded as expected, with no resolution on the government's self-imposed USD 31.4T debt limit. This...
Dollar and Yen are striking back on mild risk-off sentiment while Commodity currencies are paring some gains too. Eyes will be on the meeting between US President Joe Biden and Republican House Speaker Kevin McCarthy on debt ceiling. A final agreement on raising the debt limit is not expected...
Euro continues its descent during Asian trading session, partly due to the optimism expressed by ECB Chief Economist about slowing in inflation ahead. The common currency currently ranks as the worst performer for the month, although it still holds above last month's low against all currencies, barring the Pound....
Eurn turns weaker today after investor confidence data suggests that economic recovery might be faltering. But for now, Yen and Dollar are even weaker. Sterling and Swiss Franc are not much better than Euro too. Commodity currencies are the stars of the day, with New Zealand Dollar leading the...
Dollar weakened broadly during Asian session, as relatively upbeat sentiment in stock markets took hold. Despite Japan's Nikkei being down after holidays, stocks in Hong Kong and China are both making gains. Australian and New Zealand dollars emerged as the stronger performers for now, followed by Euro. Meanwhile, Canadian...
Risk-on, risk-off, and then risk-on. It's a roller-coaster ride for investors last week,with a slew of heavy-weight events. In the end, commodity currencies ended as the best performers, with support from rebound in sentiment. Canadian Dollar held a slight advantage over Australian and New Zealand Dollar. But all have...
Dollar jumps in early US session as lifted by a set of strong non-farm payroll data. But it remains to be seen if buying could sustain. Still, Canadian Dollar looks even stronger for its own robust employment data too. For now, Swiss Franc is the worst performer for the...
Dollar trades broadly lower overnight and remains soft in Asian session. Despite risk-off sentiment in the US, the greenback failed to find support, as market participants bet on an earlier Fed rate cut due to ongoing bank concerns. Meanwhile, Euro is also facing pressure due to falling treasury yields,...
Euro dips initially after ECB stepped down tightening pace with a 25bps rate hike today. But it then quickly recovers after ECB President Christine Lagarde firmly said in the press conference, "We are not pausing. That's very clear… We know we have more ground to cover." Overall though, Euro...
Dollar was sold off broadly overnight after Fed indicated openness to a pause in tightening after raising interest rate by 25bps. Yet, selloff is relatively limited after Chair Jerome Powell ruled out a rate cut this year. Indeed, major stock indexes ended slightly lower, as weighed by persistent concerns...
Dollar remains weak in early US session, despite strong ADP job data, seeing only modest gains the Australian and Canadian Dollars. However, the selloff remains contained, even against strong Yen and Swiss Franc. Traders are evidently holding their bets as they await FOMC rate decision. A 25bps hike to...
Dollar weakens broadly in today's Asian session as markets await what could be the last Fed rate hike in the current cycle. Risk sentiment is on the downside, with stock selloff carrying over from the US to Asia. Despite this, the greenback sees no apparent support. Conversely, Yen benefits...
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