Market Overview
Euro Recovers, Dollar Retreats as Markets Turn Quiet
Dollar's retreat continues in Asian session, but it remains one of the strongest for the week, just next to Sterling. On the other hand, while Euro is recovering, it's still the worst performing one followed by Aussie. Overall, the markets are staying in a near term consolidative phase with...
Euro Recovering in Crosses, But Not Out of the Woods Yet
The forex markets are a bit mixed today while trading is subdued. New Zealand Dollar stays as the strongest on RBNZ rate hike expectations. Swiss Franc and Euro are following, primarily thanks to recovery against Sterling. Yen is currently the weakest one for the day, followed by the Pound...
NZD Rises Mildly on Firm RBNZ Rate Expectations, Euro Still Pressing Key Support
New Zealand Dollar trades mildly higher today, after an RBNZ survey shows firm expectation of more rate hike ahead. On the other hand, Canadian Dollar weakens broadly as WTI crude oil's pull back extends below a near term support level. Overall, Sterling and Dollar remain the strongest ones for...
Sterling Jumps on Strong CPI, Euro Selloff Continues
Sterling jumps broadly today after much stronger than expected consumer inflation data, that raises the chance that BoE will "have to act" on interest rates soon. On the other hand, Canadian Dollar shrugs off strong, but inline with expectation CPI. Dollar is still among the strongest for the week,...
Dollar Extends Rally as Focus Turns to UK and Canada CPI
Dollar's rally extends in Asian session, with EUR/USD breaching 1.13 key support zone. Meanwhile, USD/JPY also breaks 114.86 near term top. Sterling is so far very resilient as markets await inflation data from the UK. Canadian Dollar is just mixed ahead of Canada CPI. Much volatility is likely in...
Sterling Rises on Solid Job Data, Dollar Firm on Retail Sales
Sterling rises broadly today with help from solid job data, which eased the concerns over the impact of end of furlough scheme. Dollar is also firm as supported by better than expected retail sales sales. Euro is trying to digest some losses but stays weak on dovish ECB expectations....
Euro Selloff Intensified on Dovish Lagarde, Could EUR/USD Defend 1.13?
Euro tumbled broadly overnight, riding on dovish comments from ECB President Christine Lagarde. In short, Lagarde continued to talk down the need of early stimulus withdrawal and warned of the hurt to recovery for doing so. Swiss Franc is currently the second weakest, followed by Yen. On the other...
Aussie Jumps With Risk Appetite, Dollar Continues to Retreat
Australian Dollar leads other commodity currencies higher today, as supported by solid risk appetite. US futures indicate a much higher open and extended rally could push major indices to new record highs later this week. Dollar and Euro are currently the weakest ones for the day, followed by Yen....
Dollar Retreats Mildly in Asian Session, Yen Lower after GDP
Dollar retreats mildly in quiet Asian session today, but loss is limited. Some consolidations will likely be seen and further rally in the greenback is still likely to follow. Yen is also slightly softer after worse than expected GDP data. On the other hand, Swiss Franc and Euro are...
Dollar Surges as Markets Added to Bets on June Fed Hike
Traders added to the bet of a June rate hike by Fed after stronger consumer inflation reading. Dollar surged across the board with Dollar index taking out an important fibonacci level. Benchmark currency yields staged a strong rebound. But stocks were very resilient despite intensify speculation of an early...
Dollar Digesting Gains, But Remains Strongest for the Week
Overall, trading in the forex market is rather subdued today. Dollar is retreating mildly but remains the strongest one for the week. Yen remains the distant second, while Sterling is third. On the other hand, Australian Dollar is the weakest one, followed closely by New Zealand Dollar. Euro and...
Dollar Extending Broad Based Rally in Quiet Trading
Dollar's broad based rally continues in Asian session today and looks set to have a strong close for the week. Talking about weekly performance, Yen is following the greenback as the next strongest. New Zealand Dollar and Australian Dollar are competing for the worst performing spot. European majors are...
Canadian Dollar Accelerates Down on Weakening Oil, Dollar Staying Strong
Selloff in Canadian Dollar gathers pace today as WTI oil price is quickly heading back towards 80 handle. Other commodity currencies are also weak, with Aussie weighed down by poor job data. On the other hand, Dollar is staying firm without clear sign of loss momentum yet. Yen is...
Aussie Tumbles after Job Data, Dollar Extending Rally
Dollar stays generally firm in Asian session, following the post CPI rally overnight. Yen is some what helped by the selloff in stock markets despite rebound in US yields, and remains firm except versus the greenback. On the other hand, Australian Dollar tumbles sharply following much worse than expected...
Dollar Rises as US CPI Jumped Sharply Again
Dollar rises sharply in early US session after much stronger than expected consumer inflation data, which hit multi-decade high. For now, New Zealand Dollar is the worst performer today, followed by Sterling and then Euro. Yen is retreating against the greenback but stays steady against others.
Technically, despite notable rally,...
Yen Staying in Driving Seat With Falling Yields and Mild Risk-Off Sentiment
Falling global yields and mild risk off sentiment continue to boost Japanese Yen. On the other hand, Australian Dollar is leading other commodity currencies lower. But the forex markets are mixed elsewhere for now. Dollar and European majors are stuck in near term ranges against each other. Eyes will...
Euro Shrugs Improve German Sentiment, Yen Stays Firm
Yen stays general firm after earlier rally today, and Dollar is following. Euro shrugs off better than expected German economic sentiment data. Sterling and Swiss Franc are mixed. Australian and New Zealand Dollar are currently the weakest. Gold is firm but there is no follow through buying through 1833.79...
Yen Resumes Rally, Gold Eyeing Key Resistance
Yen's rally resumes today while overall market sentiments are mixed. Asian stocks are treading water but US benchmark yield takes another dive. Swiss Franc is following as the second strongest for now. On the other hand, commodity currencies are trading broadly lower, as led by Aussie. Euro and Sterling...
Euro Supported by Improving Investor Confidence; USD, JPY and CHF Mildly Lower
Dollar, Yen and Swiss Franc turned slightly weaker in quiet markets today. Euro is supported by better than expected investor sentiment data, while Sterling also recovers. New Zealand Dollar is also trading higher but Australian and Canadian Dollar are lagging behind. Gold is back above 1800 handle but has...
Yen Retreating in Quite Markets, But More Upside Still Likely
The financial markets are rather quiet today. Commodity currencies are paring back some of last week's losses while Yen is retreating. But there is no change in the overall outlook, with the decline in Yen crosses more likely to continue than not. Trading could remain subdued first in European...