Market Overview
Dollar Declines on Slowing Inflation, Sterling Upside Breakout
Dollar drops broadly after data shows declining headline consumer inflation in the US, and even quicker fall in core CPI. It's adding to the Fed's case that prior surge in inflation was just transitory. DOW futures responde rather positively to the news. Strengthening risk appetite could put Yen under...
Euro Strengthening Mildly While Dollar Awaits CPI
Overall market sentiment is mildly positive with the strong rebound in DOW overnight, followed by slight gain in Nikkei. European majors are having a small edge over the others but Swiss Franc is still clearly lagging behind. Australia Dollar is leading commodity currencies lower for now, after some cautious...
Selling Turns to Euro and Swiss Franc as Risk-on Rally Returns
Commodity currencies came back to live entering into US session, with help from broad based rally in European indexes and US futures. Canadian Dollar is also lifted as WTI oil price recaptures 70 handle. Dollar turned mixed for now as selling turns to Swiss Franc, Euro and Yen. With...
EUR/USD Breaks 1.179 Support as Dollar Rebound Continues
Dollar rebound continues in Asian session today and trades generally high. Weakness in more notable in Aussie and Euro, as both turn soft in crosses. Overall risk sentiment is slightly negative, with particular deep selloff in Hong Kong stocks, but Nikkei remains resilient. The economic calendar is very light...
Dollar Rebounded as DOW’s Selloff Posts a Warning to Risk Sentiment
Dollar ended as the strongest one last week, with some held from the late selloff in US stocks. Yen was the second strongest on risk aversion while Swiss Franc was not too far away. Commodity currencies, on the other hand, ended generally lower. Traders ignored the dovish tapering of...
CAD Rebounds on Strong Job Data, USD Turning Weaker
Canadian Dollar rebound strongly in early US session after stronger than expected job data. Commodity currencies are also generally firm with European stocks and US futures, followed by Sterling. On the other hand, Yen, Swiss Franc and Dollar are turning softer, but Euro is not too far away. The...
Focuses Turn to UK GDP and Canada Jobs for Guidance
Overall, the forex markets are rather mixed as we're heading towards the weekend. Euro is staying weak in European crosses, but selling slowed against Dollar and Yen. Meanwhile, commodity currencies are trading mildly higher, but remain the worst performers for the week. Dollar turned weaker against Swiss Franc and...
Euro Tumbles in Crosses, No Help from ECB Re-calibration
Euro tumbles notably against European majors and Yen today, and ECB's re-calibration of PEPP purchases provide no support. But Dollar is seen as equally weak. Sterling is currently the star performer for today, followed by Swiss Franc and Yen. Commodity currencies are mixed. Focuses will now turn back to...
Euro Losing Momentum ahead of BoC, Dollar Recovering Further
Commodity currencies are trading generally lower in Asia today, with pull back in Japanese stocks in the background. Canadian Dollar is also soft after BoC's rate decision overnight. Dollar, Yen and Swiss Franc are trading mildly firmer, extending this week's rebound. Euro is following closely, but momentum is starting...
Euro and Swiss Franc Soften in Mixed Markets, Canadian Also Weak
Euro and Swiss Franc weaken mildly in mixed markets today. New Zealand Dollar firms up together with Yen and Dollar. Meanwhile, Canadian Dollar is also soft, awaiting BoC policy decision. Major European indices are trading in red, but losses are limited. US futures also point to slightly lower open....
Canadian Dollar Turns Weaker ahead of BoC, Dollar Extending Rebound
Dollar's recovered continued in Asian session today, partly supported by hawkish comments from a Fed official. Mixed sentiments in the stock markets also stabilized the greenback. Instead, commodity currencies continued to reverse some gains. Main focus today will turn to BoC policy decision but that would likely be a...
Sterling Down as Risk Sentiment Turns Weaker, Dollar Trying to Rebound
Risk sentiment turns a bit weaker today in the stock markets. But benchmark European and US yields are staging a strong rally. In the currency markets, Aussie is sold off is in delayed reaction to RBA's dovish tapering, but Canadian is follow closely with selloff in oil price. Sterling...
Aussie Shrugs RBA, Dollar Recovery Losing Steam
Trading the the forex markets remain rather subdued in Asian session. Aussie basically shrugs off RBA's decision to taper, but extend QE. Dollar is trading slightly softer, as yesterday's recovery lost momentum. European majors are currently the slightly firmer ones. But overall, traders are staying in wait-and-see mode. Risk...
Dollar Paring Some Losses, Aussie Retreats Ahead of RBA
Trading in the currency market is rather subdued today and markets will stay quiet with US and Canada on holiday. Dollar is paring some of last week's large losses but upside momentum is weak. On the other hand, Australia Dollar is turning slightly weaker as tomorrow's RBA policy decision...
Currencies Shrug Strong Rise in Nikkei, Focus Turn to RBA, BoC and ECB
Dollar recovers mildly in quiet Asian session today, but there is no sign of a sustainable rebound yet. Most major pairs and crosses are staying inside Friday's wide range. Strong rally is seen in Japanese Nikkei today, but there is little reaction in FX. Trading could remain subdued with...
Dollar Weakness to Stay after Substantial Setback in Job Recovery
Dollar was under pressure most of the week and selling accelerated again after the big disappointment in employment data. The non-farm payroll report could show that job market recovery had made a "substantial setback" rather than "substantial further progress". A tapering announcement from Fed in September is basically off...
Dollar Spikes Down after Huge NFP Miss, Gold Upside Breakout
Dollar spikes lower in early US session after huge NFP miss. But the selloff is only firm against commodity currencies at the time of writing. In particular, the greenback is trying to recovery against European majors, as well as Sterling. Traders might need a bit more time to make...
Dollar, Yen and Swiss Franc Continue to Decline as Focus Turns to NFP
Overall developments in the markets are unchanged for the week. US stocks continued with recent up trend overnight. Dollar, Yen and Swiss Franc extended near term decline. New Zealand and Australian Dollars are the strongest one, followed by Euro and then Sterling. Main focus will now turn to US...
Risk Sentiment Firms Up after Jobless Claims, Dollar Staying Weak
Risk-on sentiment firms up slightly after better than expected jobless claims from the US. Dollar, Yen and Swiss Franc continue to trade as the weakest ones. On the other hand, New Zealand and Australian Dollars are the strongest. But the moves in risk markets are limited so far. Investors...
Yen Crosses Trading Up But Markets Stay Generally Cautious
While NASDAQ surged to new record high overnight, overall closes were mixed with DOW slightly down. Asia markets also lack a clear direction. Investors appear to remain cautious ahead of US non-farm payroll report tomorrow. So far, New Zealand and Australian Dollars are the strongest ones for the week....