Market Overview
Dollar Rises as CPI Hits Another Four-Decade High
Dollar rises in early US session after data shows that headline consumer inflation accelerated once again in June, to the highest level since 1981. Yen is currently the worst performing one on rise in US and European benchmark yields. But there is prospect for recovery in Yen, except versus...
Sterling in Recovery Supported by GDP, Dollar Eyes CPI
Sterling is in recovery today, and it's supported by better than expected monthly GDP data. Yen is currently the softer one. But overall trading is quiet in the currency markets. RBNZ's rate hike doesn't give any lift to Kiwi. Canadian Dollar is range bound, awaiting BoC rate decision. Meanwhile,...
Dollar Breaches Parity Against Euro, But No Follow Through Buying
Dollar's rally continues today and breached parity against Euro for the first time in two decades. Nevertheless, the greenback seems to be losing some momentum since then, in particular against Yen. There is prospect of a deeper retreat for Dollar as 10-year yield is also weakening slightly. Yen is...
Dollar Staying as the Strongest, But Canadian Resilient Too
Dollar is staying as the strongest major currency in the market for now. Yen and Swiss Franc are not performing too badly, as supported by mild risk-off sentiment. But Canadian Dollar is also resilient, awaiting BoC's decision on whether to deliver a jumbo rate hike. Aussie and Euro are...
Dollar Rally Accelerating, More Upside Breakouts?
Dollar's rally is accelerating as markets enter into US session. Swiss Franc and Canadian are following the greenback. But Australian Dollar is the worst, together with New Zealand Dollar. But Yen is also weak, with little help from risk off sentiment. Euro is mixed even though a market inflation...
Yen Selloff Resumes, RBNZ and BoC to Hike This Week
Yen's selloff resumes in Asian session with USD/JPY making new recent high. The ruling coalition of Liberal Democratic Party and its junior partner Komeito scored a strong victory in Japan's upper house elections. There might be sympathetic votes for the tragic death of former Prime Minister Shinzo Abe. But...
Euro Down on Recession Worries, Could Parity Against Dollar Provide Support for Long?
Euro ended as the worst performer last week on increasing worries of a deeper and longer recession. Selloff in the common currency also dragged down Swiss Franc, which ended as the second worst.
Sterling was originally pressured by stabilized after UK Prime Minister Boris Johnson announced to step down after...
Dollar Rising Again on Strong NFP Data
Dollar rises in early US session after stronger than expected non-farm payroll data. It's also supported by extended rebound in 10-year yield, which reclaims 3%. Euro also follows German yield higher. On the other hand, Canadian Dollar turns softer after poor employment data. Yen is mixed after the tragic...
Dollar Firm in Steady Markets, Awaits NFP
Overall markets are relatively quiet in Asian session today. There is little reaction to the tragic news that former Japanese Prime Minister Shinzo Abe was shot and gravely injured. Dollar and Yen remain the strongest ones for the week while Euro is the runaway loser, followed by Sterling by...
Sterling Recovers as Johnson Resigns as PM
Sterling recovers today, in particular against Euro and Swiss Franc, after Boris Johnson resigns as UK Prime Minister. But Aussie is so far still the strongest for the day. Euro remains generally weak but Dollar and Yen are also paring some recent gains. For the week, Aussie is the...
Aussie Displaying Resilience, Dollar and Yen Staying Firm
The stock markets are starting to display some resilience, despite hawkish FOMC minutes. US stocks managed to close higher after initial selloff. Nikkei is also showing some strength in Asian session. Dollar and Yen are retreating mildly while Aussie and Kiwi are trading higher. As for the week, Euro...
EUR/USD Marching To Parity as Selloff Continues
Selloff in Euro continues today, as it's marching towards parity against the greenback. Some noted that it's a perfect storm for the common currency, with stagflation risks, gas crisis, a prolonged war and fragmentation. Sterling is not too far behind with political uncertainties over Prime Minister Boris Johnson again,...
Euro and Sterling Staying Weak, Dollar and Yen to Decide the Real Winner Soon
Recession fear is currently the main theme in the markets, with Euro and Sterling hardest hit in the currency markets. Canadian Dollar is somewhat a distant third weakest, as dragged down by oil prices. Nevertheless, Aussie and Kiwi are relatively resilient. Yen and Dollar are at par in strength...
Euro Hammered Broadly on Gas Crisis, Dollar and Yen Jump
Euro drops sharply and broadly today on renewed concerns over recession on gas crisis. The common currency is also taking other European majors lower. Dollar and Yen are currently the strongest ones on risk aversion. Commodity currencies are also weak, with Aussie shrugging of RBA rate hike. Nevertheless, Canadian...
Aussie Shrugs RBA Hike, Yen Turning Softer
Aussie is trading in tight range after RBA delivered the 50bps rate hike as expected, and maintained tightening bias. Euro is currently the stronger one for the day, followed by Sterling. On the other hand, Yen is under some selling pressure together with Dollar. The development suggests that risk...
Aussie Recovers ahead of RBA Rate Hike, Overall Trading Subdued
Australian Dollar recovers broadly today, following recovery in European markets. Meanwhile, traders are also preparing for tomorrow's RBA rate hike. New Zealand Dollar is also mildly firmer. On other hand, Yen is turning softer with Swiss Franc and Dollar. Euro and Sterling are mixed for now. Overall, trading is...
Slow Start to a Week with RBA Hike, Fed and ECB Minutes, NFP
It's a rather slow start to the week, with major pairs and crosses stuck inside Friday's range. Trading could remain subdued for the day with the US on holiday. But there are lots of events to look forward to, starting from RBA's rate hike tomorrow. Minutes of Fed and...
Aussie Dived But a Bottom Around the Corner?
Extending fall in commodity prices and recession fears were the main theme in the markets last week. Australian Dollar ended as the worst performer, followed by New Zealand Dollar, and then Sterling. However, Canadian Dollar was surprisingly the strongest one, partly helped by resilient oil prices.
Meanwhile, extended pull back...
Selloff in Aussie Intensifies With Commodity Prices
Selloff in Aussie and Kiwi intensifies today following the steep decline in commodities. Safe-have flows continue to boost the Japanese Yen, which is additionally lifted by extended pull back in US and European benchmark yields. As for the week, Dollar is the strongest one, but the second placed Yen...
Yen Surges on Safe Haven Flow; Stocks, Yields, Oil and Metals Fall
Markets start the first day of the second half dumping risk assets, from stocks to oil to gold and copper. Safe haven flow into treasury has indeed started overnight, pushing US 10-year yield back below 3% handle. In the currency markets, Yen rides on the negative sentiment and rises...