Dollar Selloff Resumes, Sterling in Pole Position
Dollar selloff resumes today on the back of extended rally in the stock markets and decline in treasury yields. Selloff in particularly apparent against Euro and Sterling, and to a slightly lesser extent Aussie. Yen also manages to resumes recent rally against the greenback. But Swiss Franc is lagging...
Markets Staying in Consolidative Trading, Gold Losing Upside Momentum
Overall, the forex markets are bounded in tight range as consolidative trading continues. There is no clear sign of a sustainable rebound in Dollar, and thus, the most is more likely down than up. Yen is clearly soft but selling hasn't really take off yet. Commodity currencies are currently...
Yen Softening, Dollar Recovering With Weak Momentum
Dollar continues to trade mildly higher into US session as consolidations extend. Upside momentum in the greenback is very weak so far. But such consolidations could now extend for a further while. Aussie and Loonie are the next firmest. Yen is currently the worst performer, followed by Kiwi and...
Dollar Licking Wounds in Quiet Trading, EUR/GBP a Focus of the Week
Dollar recovers mildly in quiet trading in Asia, digesting some of last week's losses. Yen and Canadian Dollar are following the greenback, while Swiss Franc leads Europeans lower. But overall, major pairs and crosses are bounded inside Friday's range, suggesting lack of activity. The economic calendar is light today...
Dollar Started Medium Term Correction, But Selling Might Start to Slow Soon
The set of lower than expected consumer inflation data from the US was music of joy for investors. Stocks surged while treasury yield tumbled, on expectation that Fed is ready to start slowing down tightening pace in December. Risk-on sentiment was broad-based with NASDAQ starting to realign with DOW,...
Yen Shines as Dollar and Yield Nose-dived
Dollar is overwhelmingly the worst performer for the week, after yesterday's post-CPI selloff. Yen is the strongest one, with help from the steep decline in US yields too. European majors follow as next strongest, with Swiss Franc having an upper hand against Euro and Sterling. While US stocks surged...
Dollar Dives after Lower than Expected CPI Readings
Dollar dives sharply in early US session after lower than expected CPI readings. CPI might have really started to turn around, and that would support Fed to start slowing the pace of tightening. For now, Sterling, Aussie and Yen are the strongest ones while Swiss Franc and Euro are...
Sentiment Turned Sour, Dollar Awaits US CPI
The selloff in cryptocurrencies spread to global stocks. Commodity currencies tumbled broadly following risk-off sentiment. Swiss Franc and Euro are currently the biggest winner from market sentiment, while Sterling softened notably against European peers. Dollar and Yen are mixed for now. Focuses will turn to US inflation today, which...
Swiss Franc Rises as Risk-On Sentiment Fades, Dollar Recovering
Swiss Franc rises broadly today as yesterday's risk-on sentiment quickly faded. Dollar is also recovering together with Canadian while Yen is also slightly higher. On the other hand, Sterling is under some pressure, in particular against European majors. Australian and New Zealand Dollar are not far behind. In other...
Dollar Down on Risk-On Sentiment, But Selling Not Too Committed Yet
Dollar was sold off broadly overnight, following risk-on sentiments. Investors appeared to welcome the results of US mid-term election so far. But the decline in the greenback is not too committed so far. Dollar is still holding on to near term support levels against European majors, and even Aussie....
Forex Markets Tread Water, Bitcoin Tumbles
Markets continue to tread water today, having basically no reaction to economic data and comments from central bankers. For now, European majors are the slightly stronger ones, as led by Sterling. Commodity currencies are the weaker ones, with the Loonie being the softest. Dollar and Yen are mixed for...
Dollar Recovering Slightly in Consolidative Markets, Breakout Awaited
The currency markets are generally quiet, without committed directions. Dollar is recovering broadly, ahead of near term support against European majors. Commodity currencies are softening while Yen is mixed. Some focuses be on US mid-term elections, as well as a Bundesbank symposium. But overall trading activities might remain subdued...
Sterling Leads Europeans Higher in Quiet Trading
European majors are the stronger ones for today, with help from better than expected investor confidence data. Sterling is leading the way, followed by Swiss Franc and Euro. While risk sentiment appears to be mildly positive, there is no clear buying in commodity currencies. Instead, they are the softer...
Asia Extends Rebound, But Aussie Not Following… Yet
The forex markets are rather steady in Asia today. While stocks in China and Hong Kong extending last week's strong rebound, Aussie and Kiwi are not following for now. Some traders are on guard to rumors of reopening in China, in particular with a district in Guangzhou still extending...
Rumor of China Reopening Overwhelmed Other Heavy Weight Events
The rumor of earlier reopening in China seemed to have overwhelmed other heavy weight events in the markets last week, including Fed's hawkish rate hike and non-farm payroll report. Late rally in stock markets helped commodity currencies secured the winning places, with New Zealand Dollar having an edge over...
Canadian Dollar Skyrockets after Stellar Job Data, Dollar Gets No Support From Solid NFP
Canadian Dollar surges broadly after employment blows past expectations. While US non-farm payroll growth was solid, Dollar reacted more to improving risk sentiment and fall sharply. Yen is the second weakest for the day following the greenback. European majors are gaining against the greenback but are all under heavy...
Dollar Pares Gain ahead of NFP, Canadian Employment also Featured
Asian markets are very mixed today, with Nikkei trading lower, following US stocks overnight. But strong rebound is seen in Hong Kong and China. As a result, Dollar is paring some of the post-FOMC gains while commodity currencies recover. It's also possible that traders are lighting up their positions...
Sterling Dives after Dovish BoE Hike, Dollar Accelerates up
Sterling dives sharply after dovish BoE rate hike, which saw two doves dissented. Aussie and Kiwi are following as next weakest as risk-off sentiment persists. Dollar's post-FOMC rally is accelerating, partly supported by expectation of a higher terminal rate for Fed, and partly by risk aversion. Yen is following...
Dollar Surged as Fed Powell Indicated Higher Terminal Rate, BoE Next
After initial jitters, Dollar rose broadly overnight as Fed Chair Jerome Powell indicated the possibility of higher terminal rate in the current tightening cycle. US stocks ended notably lower and risk-off sentiment carried on in Asian session. Yen is also rising on risk aversion. Nevertheless, markets are taking a...
Markets Tread Water ahead of Fed Hike and Guidance
The financial markets are all very steady today, awaiting FOMC rate decision. A 75bps hike a done deal, and the key is whether Fed Chair Jerome Powell would signal slower tightening pace ahead. For now, Dollar is the weaker one for today, followed by Euro and Sterling. On the...