Market Overview
Markets Back in Risk-on Mode, But Forex Mixed Awaiting Central Bank Meetings
Investors seemed to have already put Omicron risks behind last week, with markets turned back into risk-on mode. But the forex markets were indeed quite mixed. Commodity currencies were the strongest ones, but the rebounds are looking more like corrective. Yen was the worst performer, but the pull-backs were...
Dollar Shrugs Strong CPI Reading, Extending Sideway Trading
The multi-decade high in US CPI reading appears to be failing trigger any move in Dollar. The greenback is staying in very tight range in general. Commodity currencies are indeed trying to regain upside momentum. Yen is set to end as the worst performing, followed by Swiss Franc and...
Markets Turn Quiet ahead of US CPI, Dollar Awaits Range Breakout
The markets generally turn quiet in Asian session as markets are look forward to consumer inflation data from US. Before that UK GDP will also be a major focus. Commodity currencies, in particular Canadian Dollar, are losing much upside momentum even though they're still the strongest ones. Yen's earlier...
Dollar Recovers on Surprisingly Low Jobless Claims
Dollar rebounds mildly entering into US session, as supported by surprisingly good jobless claims report. Risk-on rallies in the stock markets also losing some momentum, helps lift Yen mildly. As for the week so far, Aussie remains the best performer, followed by other commodity currencies. Swiss Franc and Yen...
Aussie Rises Further as Risk-On Sentiment Continues
Market sentiment is generally positive in Asian session today. Australian and New Zealand Dollar are extending near term rebound. Other currencies are mixed, though. Canadian Dollar is paring some gains, after the non-eventful BoC rate decision. Sterling is trying to recover from yesterday's selloff. Dollar and Yen are mixed.
Technically,...
Sterling Tumbles as UK Said to Return to Restrictions, Pfizer News Lifts Sentiments
Much volatility is seen in the markets today, in particular in Sterling. The Pound tumbled sharply on news that the UK Government to going to activate a plan B and impose some restrictions as soon as on Wednesday, due to spread of Omicron. Yet, sentiments recovered After Pfizer said...
Canadian Dollar Strong on Risk-On Sentiment, as BoC Awaited
Following return of risk-on sentiment, commodity currencies are currently the best performers for the week. On the other hand, Swiss Franc and Yen are trading broadly lower, followed by Euro and Dollar. The economic calendar is very light today and main focus will be on BoC policy decision. At...
Risk-on Sentiment Coming Back, Aussie Extending Rebound
Risk-on sentiment is gather steam today with major European indexes trading broadly higher, while US futures point to higher open. WTI crude oil is also up another 2.5% and is back above 70 handle. In the currency markets, Australian Dollar is leading the rebound in commodity currencies, with help...
Yen Crosses Rebounding as Sentiments Turned Positive
Overtone in the markets turned positive with the strong rebound in US stocks overnight, while Asia indexes follow higher. Australian Dollar is recovering broadly after RBA stood pat and gave nothing new to the markets. On the other hand, Yen is trading broadly lower for now, followed by Dollar...
Aussie Recovering Slightly in Range-bound Markets, Yen Softens
Major currencies remain largely in range against each other in quiet trading today. Australian Dollar continues to lead other commodity currencies to recover. But Aussie's recovery could be short-lived if RBA delivers some unexpected dovish surprise in the coming Asian session. Meanwhile, Swiss Franc is turning notably weaker, followed...
Markets in Consolidation as Focus Turns to RBA, BoC and US CPI
The markets are relatively quiet in Asian session today. Major Asian indexes are mixed despite steep selloff last Friday. Currencies are bounded inside tight range, with Swiss Franc and Yen consolidation some of recent gains. Aussie and other commodity currencies also recover mildly. Gold and oil prices are also...
Swiss Franc and Yen Surged after Fed Powell Stirred Up Omicron-Nervous Markets
Just as the world is concerned and confused with the newly discovered Omicron, Fed Chair Jerome Powell stirred up the markets further, by talking up faster tapering. The biggest reactions were found in US treasury yields on strong safe-haven flows. Major stocks indexes also turned sharply lower, solidifying the...
CAD Surges on Strong Job Data, USD Mixed after NFP Miss
Canadian Dollar rises strongly entering into US session, as boosted by much stronger than expected job data. On the other hand, Dollar is struggling to react to mixed non-farm payroll data. As for today, the Loonie is the strongest one, followed by Swiss Franc and Euro. Aussie and Kiwi...
Dollar Slightly Higher as Markets Await US NFP
Dollar rises slightly in Asian session today, as markets await non-farm payrolls report from the US. Commodity currencies are generally lower despite to strong rebound in US stocks overnight. As for the week, Swiss Fran and Yen remain the strongest ones followed by Dollar. Aussie and Kiwi are the...
Commodity Currencies Turning Softer, But Traders Are Still Holding Their Bets
Commodity currencies are turning weaker again in otherwise range trading markets. As for today, European majors are the stronger ones, as lead by Sterling. But there is no clear sign of follow through movements. Omicron seems to have slipped to the backstage. Traders are probably looking through to tomorrow's...
US Stocks Extended Selloff on Faster Fed Tapering, Dollar Mixed
While the US stock extended the near term steep pull back overnight, Asian markets are relatively steady and are just mixed. Major currency pairs and crosses are also stuck in tight range for consolidation. As for the week, Swiss Franc and Yen are the stronger ones on risk off...
Franc and Yen Softer in Consolidations, Gold Presses Channel Support
Global stock markets are recovering slightly today, continuing to stabilize from Omicron worries for now. Major currency pairs are also bounded in consolidative trading in tight range. While Aussie is trying to lead commodity currencies higher, it's lacking clear upside momentum. Swiss Franc and Yen are the softer ones...
Dollar Failed to Rally on Hawkish Powell, Aussie Rebounds after GDP
Dollar attempted for a rally overnight after hawkish comments from Fed Chair Jerome Powell, but momentum quickly faded. Instead, the greenback was dragged down by extended weakness in benchmark treasury yields. Overall market sentiment is stable in Asian session, helping commodity currencies rebound. Aussie is additionally lifted by better...
Risk Selloff Resumes on Omicron, Dollar Vulnerable Against Euro and Yen
Selloff in stock markets resume today, after Moderna Chief Executive Stéphane Bancel foresaw "material drop" in effectiveness of current vaccines on Omicron. Benchmark treasury yields also tumble sharply on safe haven flows. In the currency markets, Canadian Dollar lead commodity currencies lower, as oil price tumble. Dollar is dragged...
Dollar and Yen Stay in Consolidation, Awaiting Next Move
Overall market sentiment is stable, with major Asian indexes mixed, following the recovery in US stocks overnight. Yen and Dollar soften slightly after turning into consolidations, but Swiss Franc is still strong. Commodity currencies are mixed with no follow through buying with the current rebound attempt. In other markets,...