Mon, Jun 21, 2021 @ 04:35 GMT
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Market Overview

Dollar Spikes Higher after Strong Inflation, But No Follow Through Buying Yet

Dollar rebound strongly in early US session after much stronger than expected consumer inflation data. But Canadian Dollar is even stronger with help from extended rebound in oil price. Sterling is the third strongest, as supported by stronger than expected GDP. On the other hand, New Zealand and Australian...

Dollar Recovers But Not Turning Around Yet, Sterling Firm

Dollar recovers broadly today even though Fed officials sung a chorus emphasizing patience in monetary policy. Canadian Dollar is also firm with help from rebound in oil prices. On the other hand, Australian Dollar is trading generally lower together with Kiwi. Nevertheless, for the week so far, Sterling remains...

Euro Up on Strong Economic Sentiment, Global Stocks in Deep Red

Tech led global equities selloff is a major theme today, spreading from Asia to Europe to the US. In the background, there seems to be heightened concerns on inflation over surging commodity prices. European indexes are all in deep red while NASDAQ future is down another -1.6%. The reactions...

Asian Stocks in Deep Selloff, But Yen and Dollar Remain Weak

While US stocks hit another record high overnight, the path reversed with the three major indexes closing lower, with particular heavy selling in NASDAQ. Bearish sentiment continues in Asia session today, with Nikkei and Hong Kong HSI in deep red. Reactions in currency markets are mild, however, with commodity...

Sterling Extends Rally, Yen Diving Continues, Euro Down on ECB Comments

Sterling rises strongly today, and overpowers Australia and New Zealand Dollar. On the other hand, Yen's selloff continues while Dollar is following closely behind. Despite strong investor confidence data, Euro is indeed under heavy selling pressure against the Pound and Aussie. Comments from ECB chief economist Philip Lane suggests...

Yen Broadly Lower, Sterling Rises, as a Relatively Light Week Starts

Dollar stabilizes mildly as another week starts, as selling focus temporarily turns to Yen. Both are weak nonetheless and stay near term bearish as least. Meanwhile, Sterling is trading slightly stronger in Asian session with help from recovery in crosses against Euro and Swiss Franc. But commodity currencies, as...

Dollar Tumbled Broadly, Stocks Hit Record, as Data Affirmed Fed’s Patient Approach

Dollar dropped broadly last week and ended sharply lower, as the huge non-farm payroll miss gave a strong node to Fed's patient approach. Progress could only be consider substantial as seen in realized economic data, rather than projected outlook. It's right that Fed is not even in a position...

Dollar Dives on Huge NFP Miss, European Majors Jump

Dollar dives sharply in early US session after huge employment data miss. Canadian Dollar is slightly weaker, also on job data disappointment. Euro and Swiss Franc are quick to jump on assaulting the greenback. But Yen is not too far behind, as stocks could be under some pressure after...

DOW Hit Record, Dollar Sold off, Focus Turns to Non-Farm Payrolls

Return of risk-appetite pushed DOW to new record overnight while Asian markets also firm up. Dollar was under some selling pressure, but it's still kept in range against except versus Swiss Franc and Canadian Dollar. Focus will turn to non-farm payroll report from today. A strong set of data...

Swiss Franc and Euro Rise in Mixed Market, Little Reaction to Jobless Claims and BoE

Swiss Franc and Euro jump in overall mixed markets. There were little reaction to better than expected job data from the US. BoE's slowing of asset purchases, and surprising voting prompted brief rally in the Pound, but there is no follow through momentum. Australian Dollar quickly pared back the...

Aussie Mildly Lower on Tensions with China, Sterling Steady ahead of BoE

Australian Dollar trades generally lower today, after China announced to "indefinitely" suspended all  activities under the China-Australia Strategic Economic Dialogue. But the spike on Aussie was relatively shallow and short-lived. Traders are quick to remember that the tariffs by China on some Aussie products didn't had much material impacts...

Canadian Dollar Higher With Commodity Currencies, Euro Weakens

Commodity currencies continue to trade as the stronger ones entering into US session. In particular, Canadian is helped by extended rally in oil prices. New Zealand Dollar continues to receive support from better than expected job data. Overall sentiments are positive with European stocks staging a rebound, while US...

Kiwi Rebounds on Strong Job Data, Dollar and Yen Soften

Trading continues to be relatively subdued in the forex markets. US Treasury Janet Yellen's comments prompted selloff in stocks overnight. But reactions in currencies were just mild, with most pairs and crosses range bound. Strong job data from New Zealand is giving the Kiwi a lift, while Aussie is...

Dollar and Yen Extending Consolidations, Trading Mildly Higher

Dollar and Yen rebound notably today as consolidative trading continues, with help from mixed sentiments. European indices are mixed while US futures point to lower open. Major global trading yields are trading lower, with US 10-year yield below 1.6 handle. New Zealand Dollar is leading Australian Dollar lower, followed...

Australian Dollar Steady after RBA, Dollar Firmer in Consolidations

The forex markets are staying in consolidative mode this week so far. Aussie is steady in tight range after RBA stood pat as widely expected, even though GDP forecast was upgraded. Dollar is recovering again as the retreat overnight didn't last long. Canadian Dollar and Yen also trade with...

Markets Back in Risk on Mode, Dollar Softens Mildly

Markets seem to be back in mild risk on mode in Europe, shrugging off the selloff in Asia. US futures also point to higher open, as the record run could resume this week. The currency markets are relatively mixed. Yen is stabilizing into US session after earlier selloff. Dollar...

Yen Selloff Continues Despite Risk Aversion in Asia

The forex markets are relatively quiet in Asia, with Japan and China on holiday. Main theme is extended selloff in the Japanese Yen despite steep decline in Hong Kong and Singapore stocks. Aussie and Kiwi are the mildly firmer ones while Swiss Franc is softer. Also, a major talking...

Canadian Dollar Rally to Continue after a Strong Week, But Medium Term Strength Uncertain

Canadian Dollar ended last week as the strongest ones on a couple of factors. With some near term resistance taken out, such rally will likely continue for the near term. Swiss Franc ended as the second strongest. While Dollar was pressured for most of the week, it staged a...

Dollar Rebounds after Strong PCE Inflation, Euro Retreats on Mixed GDP

Dollar rebound in early US session after much stronger than expected PCE inflation data. Though, at this point, Canadian Dollar remains slightly firmer, as supported by GDP data. Yen is also recovering with mild retreat in German and Japan yields, as well as mild risk aversion. European majors are,...

Asian Markets in Mild Risk-Off Mode Despite Japan and China Data

The financial markets are trading with a mild risk-off tone in Asia today, despite the resilience in US overnight. Solid economic data from Japan and China provided little support to sentiment. The region is generally in deep worry over record coronavirus infections in India. As for the currency markets,...