Market Overview
Swiss Franc Ended as Strongest, Aussie as Weakest, But Bitcoin Stole the Show
While Fed minutes started to prepare the markets for discussion on tapering in the coming months, Dollar wasn't give much support. It has indeed ended as one of the worst performers for the week, just next too New Zealand and Australian Dollar. On the other hand, Swiss Franc and...
CAD Rises after Retail Sales, Euro Tumbles
Canadian Dollar rises in early US session after stronger than expected retail sales data. Sterling is also firm after strong PMIs. But Euro had little reaction to the solid PMI data. Instead, the common currency seems to be reacting to ECB President Christine Lagarde's comment that accommodative policies remain...
Dollar Back Around Lows as Eurozone PMIs Eyed
The forex markets still generally range bound for the moment. Dollar weakened mildly overnight, but stays above near term lows against other major currencies. Similarly, Yen is also bounded in very tight range. US stocks' rebound overnight was as positive development for sentiments. Yet, there is no follow through...
Dollar Pare Gains in Quiet Ranging Markets, Euro Stays Strongest
The forex markets are very quiet today, with most major pairs and crosses staying inside yesterday's range. Dollar is paring some post FOMC minutes gains, while Sterling is also soft. On the other hand, Australian and New Zealand Dollar are both recovering mildly. As for the week, Euro is...
Dollar Recovers after FOMC Minutes, But No Technical Levels Broken Yet
Dollar recovered overnight, with help from mild risk aversion and some slight hawkish twists in FOMC minutes. Yet, it couldn't manage to break through any near term technical level yet. Euro remains the strongest one for the week at this point, followed by Yen. Commodity currencies are the generally...
Stocks Fall on Inflation Data and Surging Yields, Dollar Recovering Mildly
Global equities are under selling pressure today with another round of rise in treasury yields. In particular, Germany 10-year yield jumped above -0.1% handle and hit the highest level since mid-2019. The development came after stronger than expected inflation reading from UK, which was later followed by Canada CPI....
Dollar Staying Weak ahead of FOMC Minutes, Canadian Dollar Lost Momentum
Dollar's decline slowed in Asian session today, but remains generally weak, in particular against European majors. Though, indecisive risk sentiment is somehow limiting upside in commodity currencies, with Canadian Dollar following oil prices lower today. There is prospect of more volatility in the markets today, with consumer inflation data...
Dollar Selloff Intensifies, European Majors Winning
Dollar's selloff intensifies today as risk-on sentiment is slowly coming back to the markets. Yen is following as the next weakest. European majors are currently the main winners. Commodity currencies are somewhat lagging behind. In other markets, European indexes are trading slightly higher while US futures also point to...
Sterling Jumps on Reopening Optimism and Job Data, Risk Appetite Returning
Dollar and Yen are both under pressure again today, as broad based risk sentiments improved. In particular, the volatile Nikkei managed to close up more than 2%. New Zealand Dollar is leading other commodity currencies higher too. But Canadian Dollar and Sterling are the strongest ones for the week...
Weak Risk Sentiment Supporting Dollar, For Now
Commodity currencies are trading as the weaker ones for today so far, as risk markets turn softer. Major European indexes are in slight red,. while US futures point to lower open. Yen is currently the stronger ones, followed by Swiss Franc and then Dollar. But overall, major pairs and...
Dollar Recovers Mildly, Gold Extending Rise, Bitcoin in Free Fall
Dollar and Yen recover mildly in a mixed Asian session today, while commodity currencies are mildly today. But major pairs and crosses are all bounded inside Friday's range so far. China data provided some support to Hong Kong and China stocks but Japanese Nikkei is in another sharp decline....
Stocks Stayed in Up Trend, Yields Range Bound, Dollar Lost Downside Momentum
Market debates heated up last week with the influx of some US economic data. On the other hand, the concerns on overheating inflation was legitimate given the much stronger than expected headline and core CPI reading from the US. On the other hand, poor retail sales, and prior week's...
Dollar Down, Futures Pare Gain after Poor US Retail Sales
Dollar is under selling pressure against after rather poor retail sales data. US futures also pare back some earlier gains and look vulnerable. Yen is currently following the greenback as the second weakest, while commodity currencies are the strongest, together with Euro. The question now is, whether Dollar's decline...
Sentiment Further Stabilized as Focus Turns to US Retail Sales
The forex markets are steady in Asian session today as sentiment stabilized, following strong rebound in US stocks overnight. Dollar is currently the second strongest for the week, just next to Sterling. But no key level was taken out with the rebound in the last few days. The greenback...
US Data Show Strong Inflation, Improving Job Market, Sentiment Stabilizing
Overall market sentiment stabilizes mildly entering into US session. Major European indexes pared back much of earlier losses, while US futures also turned positive. Even though US PPI showed stronger than expected reading, slightly better than expected jobless claims is support sentiment, in a way. Dollar attempt to extend...
Inflation Fear Prompted Selloff in Bonds and Stocks, Dollar Extending Recovery
Extremely higher volatility was seen in the markets overnight, with the steep decline in stocks and rally in yields. Bitcoin also had a free fall. Negative sentiments continue in Asia with major indexes trading in deep red. In the currency markets, Australia and New Zealand Dollars are under most...
Dollar Spikes Higher after Strong Inflation, But No Follow Through Buying Yet
Dollar rebound strongly in early US session after much stronger than expected consumer inflation data. But Canadian Dollar is even stronger with help from extended rebound in oil price. Sterling is the third strongest, as supported by stronger than expected GDP. On the other hand, New Zealand and Australian...
Dollar Recovers But Not Turning Around Yet, Sterling Firm
Dollar recovers broadly today even though Fed officials sung a chorus emphasizing patience in monetary policy. Canadian Dollar is also firm with help from rebound in oil prices. On the other hand, Australian Dollar is trading generally lower together with Kiwi. Nevertheless, for the week so far, Sterling remains...
Euro Up on Strong Economic Sentiment, Global Stocks in Deep Red
Tech led global equities selloff is a major theme today, spreading from Asia to Europe to the US. In the background, there seems to be heightened concerns on inflation over surging commodity prices. European indexes are all in deep red while NASDAQ future is down another -1.6%. The reactions...
Asian Stocks in Deep Selloff, But Yen and Dollar Remain Weak
While US stocks hit another record high overnight, the path reversed with the three major indexes closing lower, with particular heavy selling in NASDAQ. Bearish sentiment continues in Asia session today, with Nikkei and Hong Kong HSI in deep red. Reactions in currency markets are mild, however, with commodity...