Market Overview
Yen Crosses Trading Up as US Stocks Hit New Records
Yen decline continues overnight and stays soft on the back of solid risk-on markets. DOW closed just shy of 35k handle overnight, but the three major indexes ended at record highs nonetheless. Solid buying is also seen in Asia, with Hong Kong HSI staging and impressive rebound. Australian and...
Markets Lack Clear Direction, Dollar and Yen Recover in Range
Overall markets lack clear direction today. Major European indexes are mixed in tight range. DOW future is down over -100 pts at the time of writing, but NASDAQ futures are up. Dollar recover mildly together with Yen and commodity currencies are the softer ones. But overall, major pairs and...
Dollar and Yen Soft in Subdued Asian Trading, Three Central Banks to Meet This Week
Dollar and Yen remain generally soft in quiet Asian session today. Nikkei staged a strong 2.2% rebound but there is little reaction in the currency markets. Major pairs and crosses are generally stuck inside Friday's range. Trading could remain subdued today with an ultra light economic calendar, without any...
Dollar and Yen Could Turn Weaker Again as Risk Bulls Didn’t Give Up
Market bears had multiple chances to probe a bearish reversal last week, riding on talks like Fed's tapering, spread of Delta variants, and China's crackdown on its own technology stocks, as well as foreign IPOs. Yet, the optimists just refused to give up and pushed US indexes to new...
Market Reversing Prior Moves, Canadian Dollar Supported by Job Data
The markets are now reversing prior moves in the week, with Dollar, Yen and Swiss Franc trading generally lower. Canadian Dollar is supported by strong job data, while Aussie and Kiwi also recover. Major European indexes are trading slightly up as DOW futures is also up over 260 pts....
Euro Losing Downside Momentum Against Dollar as Sentiments Stabilized
Yen and Swiss Franc turn softer today as overall sentiments stabilized. US stocks once again pared back much of earlier losses overnight and closed just slightly down. Asian markets were just mixed only, with Nikkei also reversing most of earlier losses. Dollar is currently the stronger one for today,...
Swiss Franc and Yen Soar on Deep Risk Averse Sentiment
Risk aversion generally dominates the global markets today. Following selloff in Asia, major European indexes open lower and are trading down around -2%. DOW future is also losing around -500pts. Swiss Franc and Yen are overwhelmingly the strongest ones for the day, as followed by Euro and Dollar. Commodity...
Yen Rises Broadly as Hong Kong Free Fall Triggers Risk Aversion in Asia
US stocks surged to new record overnight, shrugging off FOMC minutes. But Asian markets are walking another path, as led by the free fall in Hong Kong stocks. Yen surges broadly on risk aversion, followed by Swiss Franc. Commodity currencies are generally pressured, with Aussie weighed down by dovish...
Dollar Softens as Risk Sentiments Stabilize, FOMC Minutes Next
The forex markets are generally range bound as traders await FOMC minutes. The main focus will be on discussions on the timing of tapering, which wasn't clearly indicated in the statement and economic projections. Dollar's rise appears to be losing steam as global sentiments stabilized today. DOW futures point...
Dollar and Yen Rebounds, Following Mixed Stocks and Sliding Yields
Yen and Dollar surged strongly overnight, but lost some momentum after on stocks recovered from initial steep selloff. Both are still firm with Asian markets in risk aversion mode. Canadian Dollar is currently the worst performing for the week, followed by Aussie. Focus will now turn to FOMC minutes...
Euro Drops after Germany ZEW, Kiwi and Aussie Maintains Gain
Euro drops broadly today following sharp decline in Germany ZEW economic sentiment. Swiss Franc is following down closely too. On the other hand, New Zealand Dollar remains the strongest on RBNZ rate speculations while Australian Dollar follows as support by RBA tapering. Yen and Dollar are mixed, together with...
Kiwi Surges on RBNZ Hike Talks, Aussie Firm after RBA
New Zealand Dollar is the star winner in Asian session today on RBNZ rate speculations. The Kiwi has taken Aussie higher today, but the latter lost some steam after unsurprising RBA policy decision. Though, Aussie is still maintaining most of gains, together with Sterling. On the other hand, Dollar,...
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...