Market Overview
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,...
Yen and Franc Consolidate as Market Sentiment Stabilized for Now
The forex markets are staying in consolidative mode today as overall market sentiment stabilized. Major European indexes are paring some of last week's losses while US futures also point to higher open. But it remains to be seen if it's just a dead cat bounce, or a reversal. Canadian...
Markets Staying Heavy on Omicron Worries
Worries about Omicron remains a main theme in the markets. Nikkei takes a dive after Japan announced to close its borders to all foreigners as Prime Minister Fumio Kishida said he's taking measures with a "strong sense of crisis". The forex markets are relatively quiet for now, with Yen...
Investor Confidence Shattered by Omicron Variant, Yen and Swiss Franc Surged
Investor confidence was shattered by the news of the heavily mutated B.1.1.529 coronavirus variant, now called omicron. WHO warned that this variant has a large number of mutations, some of which are concerning. It added that preliminary evidence suggested an increased risk of reinfection with this variant. It may...
Yen and Swiss Franc in Strong Momentum as Risk Aversion Dominates
The new coronavirus variant is the main them in the markets today, sending global stocks and benchmark treasury yields sharply lower. Yen and Swiss Franc are trading sharply higher, followed by Euro. Commodity currencies tumble sharply on risk aversion but Sterling and Dollar are also pressured. For the week,...
New Coronavirus Variant Sinks Investor Sentiment, Yen Marches Higher
Risk-aversion dominates Asian markets today as new coronavirus variant sinks investor sentiment. Australian Dollar is leading other commodity currencies lower. Yen and Swiss Franc surge sharply, followed by Euro and Dollar. Overall, it's flight to safety. The question now is, whether Aussie or Kiwi would eventually end as the...
Dollar Firm in Quiet Holiday Trading, Yen Soft
The forex markets are rather quiet in Asian session today. Trading will probably remain subdued with US on holiday. The greenback remains the strongest one for the week on speculation that the "transitory" yet persistent strong inflation would eventually force Fed to raise interest rate earlier. Canadian Dollar is...
Dollar Rally Continues as Jobless Claims Dropped to Lowest Since 1969
Dollar's rally continues today and stays firm after much better than expected jobless claims data. Yen is following as second strongest on risk-off sentiment, as major European indexes and US futures are in red. On the other hand, New Zealand Dollar remains the worst performing one on post-RBNZ selloff,...
NZD Softens after RBNZ Hike, Dollar Firming Up
New Zealand Dollar weakens in Asian session after RBNZ rate hike, and leads other commodity currencies lower. Dollar firms up mildly as it's ready to extend recent rally, except versus Yen for now. European majors are mixed, with Sterling have a mild upper hand against Euro and Swiss Franc....
Sterling Breaking to the Downside, Euro in Weak Recovery
Markets are trading in mild risk off sentiment, while treasury yields also surge. New Zealand Dollar is leading other commodity currencies lower, and Sterling is week too. On the other hand, Euro and Swiss Franc are currently the stronger ones, followed by Dollar and Yen. But overall, it should...
USD/JPY Upside Breakout after Powell Got Nominated Again, Gold Tumbled
Dollar surged overnight after Fed Chair Jerome Powell was nominated for a second term by US President Joe Biden. The greenback stays firm in Asian session and is ready to extend its near term rally. On the other hand, New Zealand Dollar is trading notably lower, as traders are...