Sun, Jan 17, 2021 @ 03:11 GMT
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Market Overview

Dollar Selloff Returning ahead of FOMC, No Clear Direction Elsewhere

Dollar trade with a generally soft tone today, with strong risk-on markets in the background. But overall, most major pairs and crosses are bounded inside last week's range. The economic calendar is extremely busy for the rest for the week. But there are still a couple of things to...

Sterling Mildly Higher, But Upside Capped by Conflicting Brexit Messages

The forex markets are relatively mixed today. Sterling is generally higher but it's capped by conflicting messages regarding Brexit trade negotiations. Canadian Dollar is currently second strongest, with help from mild strength in oil price. On the other hand, New Zealand Dollar is the worst performing, followed by Euro...

Aussie Tumbles Mildly on Trade Tension, Markets Mixed Elsewhere

Australian Dollar weakest broadly today after China intensified the trade tensions with banning Australia's coal imports. Markets are relatively mixed elsewhere, with some softness in both Yen and Swiss Franc. The Pound's rebound is fading as for now, there is no confirmation on whether there would be a Brexit...

Dollar Breaking Down as Stocks Surge on Vaccines, Sterling Jumps on Brexit Optimism

The global markets are quickly back in risk-on mode today. DOW future is back above 30k handle, as coronavirus vaccine rollout began. There seems to be some progress in the US Congress for fresh fiscal stimulus too. Dollar is under broad based selling pressure, followed by Canadian and Yen...

Sterling Gaps Up as Brexit Talks Go an Extra Mile, But Upside Capped

Sterling opens broadly higher as Brexit trade negotiation is extending through the Sunday deadline. The Pound is taking Euro and Swiss Franc slightly higher today. Nevertheless, it should be noted that no important resistance level is broken by Sterling. Traders are just lighting their shorts. Markets are rather mixed...

Sterling in Free Fall as No-Deal Brexit Could Become Reality… Soon

Sterling was in free fall last week after both UK and EU admitted that a no-deal Brexit is more likely than not. Negotiation deadline was ended to end of Sunday. Euro and Dollar, followed as the next weakest and focus turned to rally in commodity currencies. In particular, Australian...

Sterling Accelerates Lower as No-Deal Brexit Looking Very, Very Likely

Sterling's selloff accelerates further today after leaders from both EU and UK admitted that their negotiations positions are still part. No-deal Brexit is now seen as the most likely scenario, and we should know very soon by the end of Sunday. Dollar and Yen recover mildly today, on mild...

Australian Dollar Accelerates Up with Iron Ore Prices, Euro Capped after Post ECB Rally

Accelerating rally in iron ore prices pushes Australian broadly higher today, on the back of steadily firm risk sentiment. The Aussie is currently the strongest one for the week, followed by New Zealand Dollar, while Canadian is not far away, with help from oil prices. Sterling remains the worst...

Dollar Dives as Jobless Claims Surge, Euro Firm as ECB Delivers

Dollar falls broadly in early US session after much worse than expected jobless claims data, confirming the impact of the current wave of coronavirus pandemic. Yen is not far behind for now as second weakest. But Sterling is also facing some selling pressure on Brexit impasse. Commodity currencies are...

Sterling Softens on Brexit Impasse, Euro Awaits ECB

Sterling softened again after the Brussels meeting ended with nothing more than comments that UK and EU are still far apart. Yet, traders are still holding their bets for now. Yen and Dollar also shrug off the deep pull back in US stocks overnight. Some fresh selling is seen...

Sterling Rebounds ahead of Johnson’s Brussels Trip, Euro and Swiss Soften

Sterling rebounds strongly today on hope that the physical meeting between the leaders of UK and EU would yield some positive progress on post Brexit trade talks. Yet, traders are not too committed on the bullish side yet, after Prime Minister Boris Johnson reiterated his hard-line stance. Australian Dollar...

Markets Returning to Risk-on Mode, Dollar Vulnerable to More Downside

Dollar and Yen are back under some selling pressure today, as markets seem to be returning to risk-on mode. NASDAQ hit another record high overnight, and Asian markets are generally trading in black. The greenback's weakness is also seen as it's vulnerable to breaking a key psychological level against...

Dollar and Yen Turn Softer as Markets Stuck in Range Trading

Trading in the forex markets is rather subdued today. Major pairs and crosses are staying inside yesterday's range for now. Dollar and Yen turn softer. Sterling is in a weak recovery, but lacks follow through buying. It's too hard for traders to commit to a bet on a trade...

Sterling Pares Losses as Johnson Decides to Travel to Brussels on Brexit Talks

Sterling pares back some of its losses as traders refused to add to bet on no-deal Brexit for now. Though, the Pound remains generally weak in Asian session today. Markets are relatively quiet elsewhere with stocks trading in mixed mode. Treasury yields also gave back some of last week's...

Sterling Falls Sharply on Brexit Deadlock, Swiss Franc Surges

Sterling is heavily sold off today as risk of no-deal Brexit is increasing with no major breakthrough in the never-ending negotiations. It's even unsure if talks will be concluded today, or continues till Wednesday. An European Commission spokesman even refused to "speculate on a last chance date" for the...

Sterling Softens as Brexit Talks Drag On, Yen and Swiss Mildly Higher

The forex markets are quiet in a typical Asian session on Monday. Yen and Swiss Franc are trading slightly higher as Asian stocks pull back from recent rally. While exports number from China look strong, imports growth clearly lagged behind. Sterling is currently the weaker one as Brexit negotiations...

Dollar Index Might Find Temporary Support at 90 after Down Trend Resumption

Selloff in the Dollar was the main theme in the currency markets last week. With the arrival of coronavirus vaccines, the global economy looks set to return to normal next year, despite some cautious comments from central bankers. Yen might look worst than Dollar but it is indeed still...

Canadian Dollar Boosted Further by Job Data, Greenback Shrugs NFP

Canadian Dollar is given another boost in early US session after stronger than expected job data. In the background, the Loonie has already risen following higher oil prices. Dollar, on the other hand, has little reaction to much worse than expected non-farm payroll report. For the week, Dollar and...

Canadian Dollar Follows Oil Higher, Dollar Looks Forward to NFP

Canadian Dollar is trading generally higher in Asian session, with support from upside break out in oil prices. But Aussie and Kiwi are soft. Dollar is taking a breather in Asian session after yesterday's selloff, as focus turns to non-farm payrolls report. For the week, Dollar and Yen remain...

Dollar Selloff Accelerates Despite Jobless Claims, Gold Eyes 1850 Resistance

Dollar's selloff accelerates today and better than expected jobless claim data provide no support. European majors are generally firm, with Sterling leading the way this time. But the rally in the Pound is unconvincing so far, with uncertainties over Brexit trade talks. Commodity currencies are relatively mixed, with Canadian...