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Market Overview

Dollar Remains the Weakest While US Stocks Could Make New Record High

Dollar's decline is slowing a little bit in Asian session but there is no sign of a turnaround. The greenback remains the worst performing one for the week, followed by Yen, on strong risk-on markets. Australian Dollar is the strongest one, followed by other commodity currencies. FOMC meeting overnight...

Dollar Selling Takes Off as Stocks Extend Powerful Rally

Dollar's selloff finally takes off as market enters into US session today. While the final result of US presidential election is still unknown, investors couldn't wait to push stocks higher. At the time of writing, Canadian Dollar is trading as a distant second weakest. Sterling is also relatively weak...

Stocks Surge on US Elections, Dollar and Yen Weak But No Follow Through Selling Yet

Movements in the forex markets in reaction to the US elections were relatively indecisive, comparing to the strong risk-on moves in the stocks. There is no clear follow through selling in Dollar and Yen so far, while commodity currencies are struggling to extend gains. Focuses will now turn to...

Yen and Franc Rise as US Election Has No Clear Winner Yet

Volatility continues today as US Presidential election vote counts are released. The final results are unknown at this point, narrowed down the results of just a few states. At the time of writing, Yen is the stronger one, followed by Swiss Franc. Sterling and Kiwi are the weaker ones....

Roller-Coaster Ride Started Even Before US Election Results

Much volatility was seen in the financial markets in the past 24-hours, as traders were pre-trading US elections results. At the time of writing, the race between Donald Trump and Joe Biden is very tight, totally different from the picture portraited by most main steam media. Overall picture in...

Dollar Broadly Sold Off as Markets in Full Risk-On Mode

Global stocks surge sharply as investors seem to be very optimistic on the result out of US elections. Major European indices are currently up around 2% while DOW future is up 400 pts. Dollar is sold off sharply, together with Yen and Swiss Franc. Australian Dollar left RBA's rate...

Australian Dollar Weakens after RBA Rate Cut, Canadian Rebounds with Oil Price

Asian Markets rebound notably today, following the strong close in US overnight. Canadian Dollar staged a U-turn, following the path of oil price. Australian Dollar is trading generally lower today following RBA's easing announcement. Yet, downside is relatively limited, expect versus a few. Dollar has turned mixed, together with...

Euro and Dollar Turn Mixed as Global Stocks Rebound

Commodity currencies are taking control into US session with help from rebound in European indices. DOW future is also currently up around 450 pts. Canadian Dollar came out of the shadow of steep decline in oil prices, leading Aussie and Kiwi. At the time of writing, Sterling is the...

Dollar Firm into a Week of Election, Fed and NFP

Dollar and Yen strengthen in general in Asian session today even though risk sentiments are not bad, as seen in rally in major indices. Solid data from China was enough to offset the pessimism over lockdowns in Europe, and the steep decline in oil prices. Sterling is currently the...

Key Levels to Watch as US Presidential Election Looms

Global equities tumbled notably last week, partly as coronavirus spread was hitting new record highs. Also of the same importance, US investor had lightened up their positions in preparation for the Presidential elections. Yen and Dollar surged broadly to end as the strongest one. Euro was the worst performing,...

Traders Calm ahead of Pre-Election Weekend, Dollar Pares Gains

Investors are rather calm just ahead of the pre-election weekend. European indices quickly pare back initial losses, while DOW future is down not as much before open. Dollar is also giving up some of this week's gains, despite pretty solid personal income and spending data. On the other hand,...

Dollar and Yen Firm in Tight Range, Busy Day Ahead

Forex markets are staying in relatively tight range on mixed market sentiments. Asian indices turn lower despite a weak recovery in US markets overnight. For the week, Yen and Dollar are still the strongest ones. Euro is the weakest one after ECB indicated some policy recalibration in December. Canadian...

Euro Down after ECB, Oil Tumbles, Dollar and Yen Rise

After a brief pause, Dollar and Yen are both extending rally in European session today. Stocks are clearly lacking momentum for even a small recovery. More surprisingly, the selloff in oil prices accelerate with WTI now pressing 35 handle. Euro is currently is the weakest one for today, after...

Dollar and Yen Firm as Asia Stabilizes, Euro Awaits ECB

The forex markets are rather steady in Asian session today, after the sharp moves overnight. Asian stocks are rather immune from the mini crash in the US. Still, for the week, Yen and Dollar are currently the strongest ones on risk aversion. Canadian Dollar is the worst performing, suffering...

Intensifying Worries on Very Serious Coronavirus Situation in Europe, Dollar and Yen Surge on Risk Aversion

Intensifying worries over out-of-control coronavirus spread in Europe push European stocks to 5-month low today. US futures also point to sharply lower open as this week's decline would likely extend. Dollar and Yen jump on risk aversion, followed by Swiss Franc to a slightly smaller extend. Australian Dollar and...

Euro Tumbles on Coronavirus and Lockdown, Yen Riding Higher

European majors are all trading broadly lower today on worsening coronavirus spread and return to lockdowns. Mild risk aversion keeps the Japanese Yen afloat but it's outperformed slightly by Aussie, after slightly stronger than expected Australian CPI reading. Dollar is mixed for the moment, benefitting little from risk aversion....

Dollar Shrugs Strong Durables, Softer in Tight Range

Dollar weakens again today but stay in very tight range as indecisive trading continues. The stronger than expected durable goods orders were are ignored by the markets. White House's comment that stimulus deal will be there in "coming weeks" is also shrugged off. Swiss Franc is following Dollar is...

Currencies Shrug Stocks Selloff, Dollar Rebound Lacks Conviction

Movements in the forex markets remain relatively limited and indecisive. There were little reaction to the steep decline in US stocks overnight, which is followed by broad based weakness in Asia. For now, Dollar, Yen and Kiwi are the firmer ones for the week. Canadian Dollar remains the worst...

Canadian Dollar Drags Down By Oil Price Fall, Dollar Shows Some Firmness

Movements in the forex markets are rather limited in European session, with some firmness seen in Dollar and Sterling. One focus is on the selloff in Canadian Dollar, which is dragged down by the steep decline in oil prices. Euro's mild weakness is also worth a note, as partly...

Dollar Recovers Mildly as Markets Await BoC, BoJ, ECB and GDPs

Dollar recovers mildly in relatively quiet markets today while Aussie and Euro turn softer. But major pairs and crosses are generally keep well inside Friday's range, suggesting limited movements so far. Three central banks will meet this week including BoC, BoJ and then ECB. Lots of heavy weight economic...