Market Overview
Dollar Struggling to Extend Rebound in Indecisive Markets
The markets are overall indecisive or the moment. US indices retreated mildly just ahead of record highs overnight. Mild softness is carried forward to Asian session. G20 finance leaders are seeing a less negative outlook for the global economy. Yet, the path forward remains highly uncertain depending on the...
Sterling Softens on Restrictions and Brexit Deadlock, Aussie Retreats Further
Sterling softens broadly today as UK unemployment rate rose more than expected while the part of the country is returning to restrictions. Additionally, there appears to be no progress on Brexit negotiation ahead of the EU summit later this week. Australian Dollar is the second weakest as China moves...
Dollar Recovering as J&J Paused Vaccine Study, Aussie Tumbles
Dollar is trying to recover in Asian session while Aussie tumbles broadly. Sentiments appear to be turning cautious on news that Johnson & Johnson paused coronavirus vaccine study due to an unexplained illness in a participant. UK also started a tiered system of fresh coronavirus restrictions. WTI crude oil...
Yen Rebounds in Quiet Markets, Politics to Drive the Week
Asian markets are trading in mixed most, decoupling from strong rally from the US on Friday. The forex markets are also steady. Yen is trading broadly higher and could be riding on the rebound against Dollar to strengthen elsewhere. Dollar is the currently the second strongest for today but...
Dollar Tumbled as Investors Hungry for Risks, Down Trend Resuming?
Yen and Dollar ended the week as overwhelmingly the worst performing ones. Despite all the jitters regarding US President Donald Trump's coronavirus infections, stimulus talks stalemate, major stock indices ended the week strongly higher. Yen is additionally pressured by strong rally in treasury yields too.
On the other hand, Canadian...
Canadian Powers Up on Job Data, Dollar Tumbles on Risk-on Markets
Canadian Dollar strengthens against most major currencies in early US session as boosted by stronger than expected job data. That comes in the back ground of this week's strong rally in oil price too. On the other hand, Dollar is under broad based pressure as global stock markets are...
Canadian Dollar Surges With Oil Price, Job Data Eyed
Canadian Dollar surged broadly overnight, following the strong rally in oil prices, partly due to strike in Norway which affect as much as one million barrels a day of crud oil production. The Loonie is also the strongest one for the week so far, awaiting employment data for the...
Euro Heads Lower in Indecisive Markets, Aussie Firmer
Commodity currencies are the main drivers in the markets today, as Australian Dollar leads others higher. European majors, on the other hand turn weaker as led by Euro. Dollar and Yen are mixed for the moments, awaiting the next move in risk markets. Global stock markets seem to have...
Yen Stays Pressured on Surging Stocks and Yields, Dollar Keeps On Defending
Yen continues to feel much selling pressure, partly thanks to strength in treasury yields, and partly due to the strong rebound in US stocks overnight. Asian markets turned mixed, however, with Hong Kong and Singapore in slight red. New Zealand Dollar suffered notable selling on news that RBNZ is...
Yen Plummets Again on Surging Yields, Dollar Awaits FOMC Minutes
Yen had a U-turn today and breaks near term support level against Dollar. Resilience in treasury yield is seen as a factor for Yen's weakness. After a brief set back yesterday, US 10-year yield looks set to extend recent rally through 0.78 handle. German 10-year yield is also trying...
Dollar Rebounds, Stocks Reversed as Trump Pulled Out of Stimulus Talks Abruptly
Dollar and Yen staged strong rebounds overnight, as stocks tumbled after US President Donald Trump halted stimulus talks abruptly. Though, markets somewhat stabilized in Asian session. Swiss Franc and Euro remain the strongest ones for the week for far but both have already pared back much of earlier gains....
Sterling and Aussie Turn Weaker, Dollar and Euro Mixed
Sterling is currently the worst performing one today so far, on the never-ending concerns of coronavirus infections and no-deal Brexit risk. Australian Dollar is closely following as second weakest after RBA indicated more easing ahead to support employment. On the other hand, New Zealand Dollar is currently the strongest,...
Aussie Steady after RBA, Dollar Weak Despite Surging Yields
The forex markets are relatively steady in Asian session today, despite strong moves in stocks and treasury yields overnight. Australian Dollar is treading water after RBA left monetary policies unchanged. It's clear that the central is paving the way for more easing to support the job market. But the...
Euro Firmer on Data, Aussie Cautious ahead of RBA
Dollar and Yen remain generally weak today with main focuses on coronavirus infections news. It's still unsure if US President Donald Trump could be discharged form hospital today, but news regarding his coronavirus is so far positive. European Commission President Ursula von der Leyen had been tested negative for...
Asia Cheers Trump’s Health Improvement, Dollar Down
Yen and Dollar weaken in general as Asia markets recover on positive news on the situation of US President Donald Trump's coronavirus infection. Australian and Canadian Dollars are firm, but there slightly overshadowed by the Swiss Franc. But after all, movements in the markets are relatively limited, with most...
More Risk Aversion Likely after First October Surprise
Investors could have been anticipating an October surprise. But none could have expected it to come that early, with US President Donald Trump's coronavirus infections. The world has been in historically high level of uncertainty ever since the virus outbreak in Wuhan of China half a year ago. And...
Mixed NFP Data Overshadowed by Trump’s Coronavirus Infection, Yen Staying Strong
Global markets are clearly staying in risk-off mode before weekly close. Mixed US job data was largely ignored. Eyes are staying on the development regarding US President Donald Trump's coronavirus infections, and the impact on the Presidential election which is just around a month away. Yen is currently the...
Risk-Off on First October Surprise, Trump Tested Positive for COVID
Markets suddenly turned into a risk-off mode on the first October surprise. US President Donald Trump and wife Melania had tested positive for coronavirus. Both were going to quarantine with Trump's scheduled cleared of all travels. Yen surges broadly as reaction. While Dollar follows higher, it's quickly losing momentum...
Dollar Decline Paused after Better than Expected Data
Dollar attempted to edge lower earlier today but the bears are still not too committed. Selling has indeed turned to Yen in early US session, after some better than expected US data. The stocks markets are also lacking a clear direction as European indices open higher, but quickly reversed...
Dollar and Yen Pressured after Unconvincing Stock Rally
Dollar and Yen are generally weak in Asian, after being pressure overnight with a return to risk-on markets. US stocks were lifted on as Treasury Secretary Steven Mnuchin "made a lot of progress in a lot of areas" with House Speaker Nancy Pelosi on fresh stimulus. Yet, there was...