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Market Overview

Euro Shrugs Strong Investor Confidence, Markets in Subdued Holiday Trading

Overall, the forex markets are relatively mixed today and trading will probably continue to be subdued with US on holiday. Sterling is currently the stronger one, followed by Yen and Aussie. Canadian is the weakest, followed by Kiwi and then Swiss. Eurozone is mixed despite strong investor sentiment data....

Markets Shrug Weak China Services Data, Euro Soft ahead of Investor Confidence

Dollar and Yen recover some ground in mixed Asian session today. Stocks in Japan and Hong Kong are slightly down by China and Singapore are steady. Much weaker than expected services data from China triggered little reactions. Swiss Franc is retreating against other major currencies but losses are limited....

Focus Might Turns to Euro Selling While Dollar Rally Capped by Strong Risk Appetite

Dollar ended as the strongest one last week but Friday's steel fall after solid non-farm payroll job reports suggests that it's rally is already losing steam. It's still a bit early to call a bearish reversal for the greenback. Yet, strong risk-on sentiments could cap Dollar's upside attempts ahead,...

Dollar Struggles to Ride on Strong NFP, Retreating Mildly

Dollar struggles to ride on stronger than expected non-farm payroll growth, and it's indeed retreating notably in early US session. Stocks are also not too enthusiastic so far, with DOW futures up only around 0.2% at the time of writing. Still, the greenback is more likely to finish as...

Dollar Resuming Rally as Focus Turns to Non-Farm Payrolls

Dollar's rally resumes after brief consolidation as focus now turns to non-farm payroll report. While some Fed officials might sound optimistic on their expectation on tapering later this year, it's certain that Fed won't move unless upbeat outlook is realized in economic data. Successive solid job growth for a...

Dollar Soars Against Yen, But Retreats Elsewhere

Dollar surges sharply against Yen today and maintains gain after better than expected job data. Though, the greenback is retreating mildly against other major currencies, as traders are probably lightening up their positions first ahead of tomorrow's non-farm payrolls. Comments from ECB and BoE officials gave Euro and Sterling...

Dollar Rally Taking Shape One Step at a Time

Dollar's rally continues to make progress, one step at a time. Solid job report overnight helped lift the greenback through near term resistance against Euro and Yen. Nevertheless, reaction in stocks were subdued. Focus will now turn to ISM manufacturing today for more inspirations. Meanwhile, commodity currencies and Swiss...

Dollar Up on ADP Job Data, Sterling Lifted by BoE Haldane

Dollar and Loonie rise in early US session after better than expected economic data. Sterling follows closely after hawkish comments from BoE chief economist. As for today, Swiss Franc is currently the worst performing, followed by New Zealand and than Australian Dollars. The greenback is surviving the first data...

Dollar Consolidating Gains as Focus Turns to ADP Employment First

Dollar and Yen are consolidating this week's gains in Asian session today. There is no clear sign of topping in both Dollar and Yen. Yet, there is also no follow through buying to push Dollar through main near term resistance against other major currencies. Fed looks on track to...

Dollar and Yen Surge, Resuming Near Term Rally

Dollar rises sharply today and takes the Japanese Yen higher too. There is no clear stimulus for the moves as other markets are mixed. The technical development suggests that this week's retreat has completed already. New Zealand and Australian Dollar are currently the worst performing. But Euro and Sterling...

Sterling Turning Lower against Dollar and Yen

Dollar and Yen are currently the mildly strong ones this week so far. US stocks ended mixed as S&P 500 and NASDAQ made new record highs, but DOW refused to follow and closed lower. Asian markets are also generally in red. Australian and New Zealand Dollars are notably weaker...

Dollar Buying Picking Up Momentum, Swiss Franc Softens

Dollar is pick up some upside momentum as markets enter into US session. Overall trading is rather subdued though. Economic calendar is near empty today while central bankers' comments are largely ignored. Sterling is currently a firmer one together with the greenback. Swiss Franc is the worst performing one,...

Yen Mildly Higher in Quiet Asia, Heavy Weight Data in the Week

Yen trades mildly higher in quiet Asia today, while trading is also subdued in other markets. Sterling is trying to recover some of last week's losses, but momentum is relatively limited. On the other hand, Swiss Franc and Euro are turning softer, partly due to retreat in crosses against...

Yen and Dollar Drops on Return on Risk Appetite, Sterling Looking Technically Vulnerable

Yen and Dollar ended the week as the worst performing ones, as US stock markets came back with strong rally. Risk-on sentiments pushed commodity currencies broadly higher. Yet, Yen crosses are also held below recent highs despite the rebounds. Dollar's pull back was also relatively weak. Some more time...

Dollar Weakens as PCE Inflation Surged by Missed Expectations

Dollar weakens in early US session, in particular against Yen. PCE inflation showed notable acceleration in May but fell short of expectations slightly. Nevertheless, Sterling is the worst performing ones for today, extending post BoE selloff. The Pound is also pressured by uncertainties over resurgence of coronavirus infections. Commodity...

Stocks Surge on Infrastructure Deal, Dollar and Yen Soften

Dollar and Yen are trading slightly softer in Asian session today, as markets are back on full risk-on mode. S&P 500 and NASDAQ hit new record after US President Joe Biden struck an infrastructure deal with a bipartisan group of senators. Asian stocks also trail higher. Commodity currencies rise...

Sterling Weakens as BoE Gives No Hawkish Surprise, Dollar Softer on Job and Durables

Sterling drops notably today after BoE delivered no hawkish surprise. While it sounded upbeat on the outlook, the MPC, except chief economist Andy Haldane, would prefer to wait until August to take any policy actions. Dollar is also soft after weaker than expected jobless claims and durable goods orders....

Fed Officials Shrugged by Markets, Focus Turns to BoE and US Data

The chorus of Fedspeaks overnight provided little inspirations to the markets. Some policy makers expected tapering in the coming months, followed by rate hike next year. Some remained more cautious on the outlook. That's what we already know from the Fed's dot plot already. Major US indexes closed mixed...

Yen Selloff Continues With Dollar, Commodity Currencies Strong

The forex markets continue to stay in sort of risk-on mode today, with weakness in Dollar and Yen, and strength in commodity currencies as led by New Zealand Dollar. Though, traders in other markets are not too committed yet. European indexes are just mixed while US futures point to...

Yen Extends Decline on Risk-On Markets, Completed Corrective Rebound

Yen dropped notably overnight and stays pressured in Asian session with markets back in risk-on mode. NASDAQ closed at new record high while DOW and S&P 500 also gained. Major Asian indexes follow with solid gains in Hong Kong. Dollar also extended this week's retreat but losses are so...