Market Overview
Dollar Extending Selloff, Aussie Leads Commodity Currencies Higher
Dollar's post CPI selloff continues today and remains generally weak. For now, Swiss Franc is the second worst performer for the week, followed by Euro. Commodity currencies are the strongest, with Aussie overtaking Canadian. Sterling is mixed for now. Other markets are mixed for now, with Asian stocks lacking...
Dollar Tumbles Broadly as CPI Matched Expectations, Risk Cleared
Dollar tumbles broadly in early US session even though consumer inflation data hit multi-decade highs. The move could be seen as a result of clearing the risk of even worse inflation reading that could force Fed's hand. For now, Canadian Dollar is the strongest one as boosted by rally...
JPY Lower as Risk-On Sentiment Returns, CAD Follows Oil Up
Overall, Fed Chair Jerome Powell's renomination hearings seemed to be well received by the markets. US stocks closed broadly higher overnight, followed by rallies in Asian indexes. Yen and Dollar are both under some selling pressure today. On the other hand, commodity currencies are trading higher. In particular, Canadian...
Yen Softens Again on Positive Market Mood
Overall mood in the market is positive today, major European indexes and US futures trading up. The question is whether US stocks, in particular NASDAQ, could build on yesterday's strong rebound for some more gains. Benchmark treasury yields are firm globally. Gold and Silver also recover. In the currency...
Swiss Franc Down Broadly, Focus Turns to Fed Powell
Overall market sentiment is rather mixed for the moment. Despite the initial steep selloff overnight, major US indexes staged an impressive come back towards the end of the session. NASDAQ even eked out a slight gain. Gold is back above 1800 handle while Bitcoin appears to be supports by...
Yen Striking Back as Stocks Take a Dive
Yen rebounds notably as US futures take a dive just ahead of North American session, while European index also reverse earlier gains. While Dollar is dragged down by Yen, it's somewhat still resilient against others. Selling is mainly seen in Swiss Franc and, to a lesser extent, Euro. Commodity...
Euro Softens in Quiet Trading, Aussie Ticking Up
Euro turns softer in a quiet Asian session together with Swiss Franc, but Yen is even weaker. On the other hand, Aussie is ticking up slightly together with Loonie and Dollar. Overall, trading is rather subdued with major Asian stock indexes treading water in tight range, and Japan is...
Dollar Failing to Ride on Hawkish Fed and Surging Yields
It was a roller coaster ride as traders came back for the new year. Markets were in full risk-on mode as worries over Omicron faded. Yet, sentiment turned after more hawkish than expected FOMC minutes. Major stock indexes were than in deep pull back. Major global benchmark treasury yields...
No Decisive Reaction to Mixed NFP, Dollar Staying Firm
At the time of writing, markets are still figuring out how to react to the mixed US non-farm payroll data. While the headline job grow was very disappointing, unemployment rate improved. More importantly, wages reported another month of strong growth. Canadian Dollar is trading mildly higher after strong job...
Markets Steady as NFP Awaited, EUR/USD Still in Range
Markets are generally steady as focus turns to non-farm payroll from US today. For the week so far, Sterling and Dollar are still the strongest ones, as supported by strong rally in benchmark yields and expectation of hawkish central bank actions. Euro is mixed, pressured by the Pound but...
Yen in Weak Recovery, Dollar and Sterling Still Firm
Yen is trying to recover on weaker risk sentiment today. But momentum is relatively soft against Dollar and Europeans. Aussie and Kiwi follow broader risk markets lower. Sterling and Dollar remain the strongest ones for the week, on expectation of hawkish BoE and Fed. Euro and Swiss Franc are...
Risk Sentiment Turned Sour after Hawkish FOMC Minutes
More hawkish than expected FOMC minutes sent US stocks lower overnight, and the negative sentiment carries on in Asian session. Australian Dollar leads commodity currencies sharply lower. Yen recovers but buying is weak on strong treasury yields. Dollar is also mildly firmer together with Euro.
Technically, we'll look at some...
Dollar Shrugs Strong ADP Job Data, Markets Mixed
Markets turned mixed as traders await FOMC minutes. The much stronger than expected US private job data provides little inspiration to the markets. Dollar pares back some gains but remain the second strongest for the week next to Sterling. Yen is also recovering but remains the worst performing, followed...
Markets Take a Breather ahead of FOMC Minutes, Sterling Strong, Yen Weak
The forex markets turn quiet in Asian session today. While DOW surged to new record high overnight, S&P 500 and NASDAQ closed slower. Asian markets are also mixed. Investors are holding their bets for now, awaiting FOMC minutes and, more importantly, US non-farm payrolls later in the week. For...
Full Risk-On Markets Continues, Yen Continues Downside Acceleration
Global financial markets are in full risk-on mode today. Major European indexes are trading higher while US futures indicates that record run is continuing. In the currency markets, Yen's steep selloff continues and looks unstoppable. Dollar is performing well as supported by rally in treasury yields. Euro, on the...
Yen Dives on Surging Yields, Dollar Strong
Yen selloff is the main theme in the Asian markets today, in particular as USD/JPY breaks out on the upside with acceleration. The move was fueled by strong rally in US treasury yields overnight, as well as rally in Nikkei and benchmark JGB yield. Dollar is currently the strongest...
Yen Weakness Still the Main Theme as US Stocks Might Extend Record Run
Overall outlook in the markets are unchanged, with US futures pointing to slightly higher open. DOW and S&P 500 could continue their record runs. Selloff in Yen remains the main theme while Sterling is strong together with Aussie and Kiwi. Euro and Dollar are both soft and bounded in...
Yen Selloff Continues as DOW Hit Record, Yields Jumped
Selloff in Yen continued as DOW was pushed to new record by risk-on sentiment, while US benchmark treasury yield also jumped. Dollar is also under some pressure together with Canadian and Euro. On the other hand, Sterling continues to be the outperformer, leading Aussie in the race. With easing...
Sterling Firm, Yen Weak, Gold Tumbles in Holiday Mood
The markets are staying in holiday mood today, with little news flow and no important data release. There is nothing to stop Yen's decline. But as risk sentiments turned steady, commodity currencies are paring some gains. Instead, Sterling is outshining others and it's trading mildly higher broadly. Dollar is...
Yen Stays Weak as Risk Rally Takes a Breather
Risk-on sentiment is somewhat taking a breather as S&P closed slightly lower after making new high. But Yen remains overwhelmingly the worst performing one for the week, followed by Kiwi and then Euro. On the other hand, Sterling is currently the strongest one together with Swiss Franc, thanks additional...