Fri, Aug 23, 2019 @ 15:27 GMT
New Zealand Dollar is clearly the worst performing one today as selloff intensifies after RBNZ's surprised -50bps rate cut. Australian Dollar is also dragged down deeply while Canadian Dollar follows as third weakest so far. Asian markets ignore rebound...
RBNZ surprised the market by reducing the OCR, by -50 bps, to 1%. The market had only anticipated a -25 bps cut. The aggressive rate cut is "necessary" to help support employment and inflation in the country as downside...
Market sentiments stabilized with recoveries seen in European stock markets, while US futures also point to a solid rebound. The China's Yuan also pares back some of yesterday's steep losses on rumors that a PBoC official reassured foreign companies...
Asian markets tumbled sharply earlier today in response to US designation of China as currency manipulator. USD/CNH also jumped to new high at 7.1399. But China's PBoC appeared to be trying to "smooth" Yuan's decline despite hard line rhetorics...
US Treasury Department on Monday labeled as currency manipulator, first time since 1994. Before the announcement, Trump has threatened to label as currency manipulator while the Treasury Department has long placed China in its monitoring list. According to the...
We expect RBNZ to cut the OCR, by -25 bps, to 1.25% in August. Given the disappointment in the inter-meeting data flow, the central bank would likely signal further easing later in the year. Meanwhile, the policy statement might...
Global markets are dragged down by the steep decline in the Chinese Yuan today. Major European indices are all in deep red today, following the selloffs in Asia. DOW future is currently down over -1.4% or -370 pts. Treasury...
Yen and Swiss Franc extends last week's strong rally as risk aversion dominates Asian markets. A key trigger is the free fall in the Chinese Yuan, which dives through psychologically important 7 level against Dollar, in response to trade...
Following two consecutive rate cuts, RBA is widely expected to leave the cash rate unchanged at 1% in August. Incoming economic data since the last meeting have also supported the pause. Yet, given the aggressive target in the longer-term...
The abrupt escalation of US-China trade war overshadowed Fed's rate cut last week. As the trade talks in Shanghai yielded no constructive result, Trump announced to impose 10% on USD 300B in Chinese imports, effective September 1. The list...
As suggested in the CFTC Commitments of Traders report in the week ended August 1, NET LENGTH in USD Index added +1 155 contracts to 30 283. Speculative long positions rose +7 087 contracts while short positions gained +5...
Swiss Franc and Yen continue to trade as the strongest ones for today on risk aversion, as US-China trade war escalates. Global equity markets are under heavy selling pressure, with DOW futures down around -100 pts. German 10-year yield...
Risk aversion dominates the markets as US-China trade war escalates again with Trump's new tariffs. In particular, 10-year yield dived through 2% handle with ease and determination, to close at 1.894, lowest since November 2016. In the currency markets,...
Sterling weakens broadly today and remains the worst performing one for the week. BoE rate decision provided little inspiration while growth forecasts are notably lowered in the Inflation Report. Euro is the second weakest one on expectation of ECB...
Dollar was shot up overnight as Fed's rate cut was, overall, less dovish as expected. At least, Chair Jerome Powell clearly indicated that it's not the start of a lengthy easing cycle. The greenback remains firm in Asian session,...
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks sank -10.14 mmb to 1298.4 mmb in the week ended July 25. Crude oil inventory slumped -8.5 mmb to...
Fed announced to lower the policy rate by -25 bps to 2-2.25% in July. US dollar jumped while Wall Street declined although the decision came in widely anticipated. The market was probably disappointed by the lack of commitment of...
Dollar continues to trade with a soft tone in early US session. Job data from US is slightly better than expected. US-China trade negotiations concluded in Shanghai without any concrete progress. But traders' minds remain on FOMC rate cut...
Dollar trading generally lower today as markets await Fed's highly anticipated rate cut. Though, the greenback is just the second weakest. New Zealand Dollar is the worst performing one for today so far on deteriorating business confidence. Swiss Franc...
Sterling remains the overwhelmingly weakest one on no-deal Brexit concerns. New Prime Minister Boris Johnson is pushing EU to re-open Brexit negotiation. But there is no sign from EU on a position shift yet. Australian and New Zealand Dollars...
- advertisement -