Imminent threat of full blown US-China trade war is the dominant theme in the global financial markets today. Chinese stocks were hardest hit, down the most in more than three years. Other Asian markets were generally down while Japan...
The market has priced in over 50% chance that the RBNZ would lower the OCR, by -25 bps, to 1.50% in May. Major economic indicators since the last meeting weakened. In particular, disappointing employment report and inflation in the...
Risk sentiments are knocked down heavily in Asia after Trump confused the markets by announcement to push trade war with China to full blown level. Just as investors were told dozens of times by Trump and his administration that...
According to the CFTC Commitments of Traders report for the week ended April 30, NET LENGTH for crude oil futures plunged -23 256 contracts to 524 103 for the week. Speculative long positions fell -6 372 contracts while shorts...
As suggested in the CFTC Commitments of Traders report in the week ended April 30, NET LENGTH in USD Index increased +194 contracts to 28 949. Both speculative long and short positions gained during the week. All other major...
Sterling was the star winner last week as boosted by renewed hope of a Brexit deal between the government and opposition. Poor results for both Conservatives and Labours are piling pressure on both parties to end the Brexit standoff...
Even though US non-farm payroll report came in much stronger than expected. There is no apparent buying in Dollar as initial reactions. Weaker than expected wage growth seems to be a factor that's capping the greenback's strength. On the...
Dollar turns mixed in Asian session today as markets turn their focus to non-farm payroll reports from US. The greenback has indeed been regaining grounds this gradually this week. In particular, it's helped by Fed Chair Jerome Powell who...
BOE voted unanimously to leave the Bank rate unchanged at 0.75% and the asset purchase program at 435B pound. As expected, the central bank delivered a slightly more hawkish tone as Brexit was delayed to October 31, temporarily lowering...
The forex markets are in slow motion today. Major pairs and crosses are bounded inside yesterday's range, with no follow through movement yet. BoE Super Thursday is a high profile event, but triggers no sustainable price actions yet. It's...
The forex markets are generally quiet in Asian session today. Major pairs and crosses are bounded inside yesterday's range. Australian and New Zealand Dollars are mildly firmer while Yen and Canadian are the weakest. Dollar rebound overnight after Fed...
FOMC members decided unanimously to keep the target range for the fed funds rate unchanged at 2.25-2.50%. Meanwhile, the IOER was lowered to 2.35% from 2.4%. The slight change in the accompanying statement showed a more upbeat assessment on...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks surged +12.73 mmb to 1257.33 mmb in the week ended April 26. Crude oil inventory soared +9.93 mmb to...
Economic data released from the US are mixed today. ADP report shows much stronger than expected growth in private sector jobs. However, ISM manufacturing points to deep cool down in the manufacturing sector, with deteriorating new orders, prices and...
Dollar trades broadly lower in thin holiday market as trades await FOMC rate decision. There is no expectation of a change in interest rate nor Fed's patient stance. But Fed chair Jerome Powell's comments on inflation could make or...
Euro surges broadly today as boosted a series of better than expected economic data. GDP beat market expectations and argue that the slowdown wasn't as worse as expected. In particular, strength was also seen in problematic countries like Italy...
S&P 500 and NASDAQ made record highs overnight but sentiments turned around in Asia. Weaker than expected China PMIs raised doubt on the sustainability of the post lunar new year recovery. There is even question on whether slowdown has...
Some positive notes are seen in the first quarter, both domestically and globally. Yet, these are neither sufficient not strong enough to alter BOE’s stance in May, the first monetary policy meeting since Brexit was offered an extension until...
Dollar strengthens mildly in early US session as supported by strong personal spending growth in March. Though, upside is capped by steadily cooling core inflation. For now, today's set of data is not decisive enough to trigger a breakout...
The forex markets are rather quiet in Asia, as Japan starts an ultra-long 10-day holiday ahead of Imperial succession. New Zealand and Australian Dollar extends the corrective recovery started late last week, ignoring initial weakness in Chinese stocks. On...