Market Overview
Dollar Marches On With Negative Risk Sentiment
Risk sentiment appeared to have turned negative after this week's strong inflation data as well as hawkish comments from central bankers, not limited to Fed. Dollar is set to end as the best performer on expectations of higher terminal interest rate and risk aversion. But Euro is not too...
Dollar Breaking to the Upside, Europeans Relatively Resilient
Dollar appears to be finally staging a broad based upside breakout today, with help from mild risk aversion. This week's inflation and retail sales data suggested that risk to Fed tightening is more on the upside, and interest rate would at least stay high for longer. For now, Euro...
Yields Up, Stocks Down after US PPI, Dollar Trying Breakout Again
Dollar is apparently trying for a breakout in early US session after strong PPI inflation data. US futures also tumble while 10-year yield jumps. Still, The greenback is staying in range so far except versus Yen. As for the week, Yen is still the worst performer followed by Kiwi...
Dollar Failed Breakout for Now, Yen Weak, Euro Resilient
Despite another rally attempt overnight, Dollar failed to break through near term range against others except versus Yen. The Japanese currency was licking wounds in Asian session but remains the worst performer for the week, following extended rebound in US and European benchmark yields. Canadian is the next weakest...
Dollar Rises after Strong Retail Sales, Finally Committing to Rally?
Dollar might finally be committing to a rally after stronger than expected retail sales data. Consumer markets appeared to remain robust despite persistently high inflation. Talks of a higher terminal rate for Fed is also growing. On the other hand, Sterling was knocked down earlier today after lower than...
Yen Weakness Continues, Sterling Ready For More Upside
Yen's weakness is currently a clearer development in the rather indecisive markets. Germany and UK benchmark yields are extending near term rally while US 10-year yield stands firm above 3.7%. On the other hand, 10-year JGB yield is still capped by BoJ imposed ceiling. Dollar is mixed for now...
Dollar Struggles after CPI, Sterling Supported by Job Data
Dollar is rather indecisive in early US session. US consumer inflation slowed less than expected in January, support Fed to continue tightening, probably for longer. However, positive risk sentiment is offsetting the boost to the greenback. Sterling, on the hand, was lifted by solid job data while FTSE hitting...
Dollar Turns Soft, CPI Awaited
Dollar is trading on the softer side again as focus turns to CPI report from the US today. While the markets are finally buying in that federal fund rates would peak above 5% level, there are already some bets on a higher terminal rate. Meanwhile, the bets on a...
Yen Selloff Continues, Sterling Rises Ahead of Key Data
Selloff in Yen continues today even though 10-year JGB yield closed above BoJ's 0.5% cap. Traders are probably positioning for a not-that-hawkish BoJ governor nomination by the government tomorrow. Dollar also softens as major European indexes rise, together with US futures. Sterling firms up ahead of a string of...
Dollar Rises as Focus Turns to CPI This Week, Yen Down ahead of BoJ Nomination
Dollar rises broadly in Asian session as helped by mild risk aversion. Nikkei hits a 2-week love as heavyweight technology stocks slip. Yen softens at the same time, after a former staff of the top runner for BoJ Governor Kazuo Ueda said he's neither hawkish nor dovish, but data...
Dollar Mixed Despite Bet on Fed Peaking at 6%
While the economic calendar was relatively light, the week was full of surprise. The biggest one was the big wagers that put on Fed interest rate peaking at 6%. Rumors and speculations about the next BoJ Governor triggered some volatility. Meanwhile, the blockbuster Canadian job data came in and...
Canadian Dollar Surges on Strong Job Data, Yen Jitters on BoJ Rumors Again
Canadian Dollar steals the show in early US session after astonishingly strong employment data. It's followed by Yen, which had some jitters regarding new rumors about BoJ Governor nomination. European majors, on the other hand, are the weaker ones for today, in order of Euro, Swiss Franc and Sterling...
Focus Turns to UK GDP and Canada Employment for Direction
The markets are overall staying in directionless mode for now. Dollar's selloff overnight didn't last, as risk rally faded quickly. The greenback in actually the strongest one in Asian session, while Aussie and Kiwi are the weakest, indicating some risk aversion. As for the week, Sterling is so far...
Dollar Sellers Back in Control, Risk Rally Resumes
Dollar sellers are back in control today, as markets appear to turn back into risk-on mode. In particular, FTSE is hitting another record high. The greenback is still inversely coupled to risk sentiment. Swiss Franc and Canadian are trailing Dollar as the next weakest. On the other hand, Kiwi...
Euro Broadly Weak in Indecisive Markets, Dollar Might Have More Upside
Price actions in Asian session remain indecisive. Euro is staying as the worst performer today, weighed down by cross selling against Swiss Franc and, to a lesser extent, Sterling. Aussie and Kiwi are the stronger ones but overwhelmed by the Franc. Dollar and Yen are mixed for now awaiting...
Markets Tread Water in Slow Day, Sterling Recovering
The markets are quiet today with a light economic calendar and slow news flows. European majors are generally higher, in particular with Sterling and Euro paring some earlier losses. Commodity currencies turned softer, but Yen is the weaker one. Dollar is mixed in between. Trading could remain subdued till...
Dollar Turned Softer after Fed Powell, Euro and Sterling Staying Weak
Dollar is slightly on the softer side in Asian session today. Fed Chair Jerome Powell's affirmed the markets overnight that disinflation process has started. The comments give risk sentiment a lift and pulled the greenback lower. It remains to be seen if Dollar is just digesting the near term...
Sterling Tumbles Broadly While Dollar Turned Mixed
While Dollar is now the strongest one for the week, buying remains not too committed, except versus the weak Pound. The greenback is indeed mixed, awaiting more guidance from Fed Chair Jerome Powell's speech. Yen is currently the strongest one for today,. Australian Dollar is trailing as the impact...
Aussie Bounces after Hawkish RBA Hike, Dollar Hesitates ahead of Fed Powell
Australian Dollar recovered broadly today following hawkish RBA rate hike, which signals more tightening ahead. The rebound in Aussie also takes New Zealand Dollar higher. On the other hand, Dollar is once again consolidating overnight gains. The rally in the greenback is not too committed this week so far....
Dollar Staying Firm But Lacks Follow-Through Momentum
Dollar is staying generally firm today but lacks clear-cut momentum to extend last week's rally. Overall sentiment is mildly on the risk-off side, with major European indexes and US futures in red while benchmark treasury yields jump. For now, Yen remains the worst performer for the day, followed by...