Dollar Rally Halted, Yen Picking Up Momentum
Dollar's rally was choked off by terrible PMI data, in particular services, overnight. But the greenback is trying to regain some footing in Asian session. It's too early to say that the bullish trend in Dollar has reversed. Traders are just holding their bets for now, awaiting more guidance...
Euro Selloff Continues after Poor PMIs
Euro's selloff continues today after poor PMI data and stays as the worst performer for the week. Swiss Franc is also weak for now, together with Sterling. Dollar remains the strongest one, but struggle to extend gains against commodity currencies. In other markets, major European indexes are soft but...
EUR/USD Breaks to New Low, Good Bye Parity
European majors, including the Swiss Franc, are under much selling pressure currently. EUR/USD dived through parity, and hit a new low. The development came on worries that Russia will further weaponize its natural gas supplies to Europe, adding further weight to the already troubled economy. Dollar is strong as...
EUR/USD Playing with Parity, Risk-Off Intensifies
Risk off sentiment appears to be intensifying today. Selloff in particularly serious in German DAX, while FTSE and CAC are also down. US futures are also pointing to a lower open while 10-year yield is pressing 3% handle. In the currency markets, Euro and Sterling are main losers for...
Markets Steady in Slow Start, Jackson Hole as Highlight of the Week
The markets are rather steady in Asian session today. With a near empty calendar, trading could remain subdued. Activity, however, might start to increase with the wave of flash PMI data to be released tomorrow. For now, Aussie and Kiwi are trying to recover. But Dollar is staying firm....
Dollar Rally Rejuvenated as Risk-on Sentiment Lost Steam, Yields Jumped
Dollar ended as the strongest one, closing notably higher against all other major currencies, as risk-on sentiment lost steam while treasury yields surged. The late momentum was rather impressive and argues that the greenback might be ready for breakouts. While Canadian Dollar ended as the second strongest, it's Swiss...
Dollar Continues Strong Rally, Swiss Franc Catching Up
Dollar rally continues today and it's set to end the week on a high note. Risk aversion and rising benchmark yield are both helping the greenback. Swiss Franc is also strengthening a lot. Selling focuses are mainly concentrated on Sterling, Euro, and Yen, even though commodity currencies are also...
Dollar Buying Picks Up Momentum, Other Currencies Mixed
Dollar's rally has finally made some progress overnight and the momentum continues in Asian session. Other currencies are mixed for now with no clear loser. For the week, Aussie and Kiwi are on the weaker side while Euro and Canadian are the stronger ones. But the picture could easily...
Dollar Rally Not Making Progress as Dull Trading Continues
The markets are generally rather quiet today, with major pairs and crosses trading inside yesterday's range, as well as last week's range. For now, Dollar is the strongest ones, followed by Sterling and then Euro. Australian and New Zealand Dollars are the weakest. Yen and Swiss Franc are mixed...
Aussie Soft after Employment Data, Dollar On the Strong Side in Quiet Trading
Dollar is on the strong side in quiet trading in Asia, together with Yen and Swiss Franc. But the greenback is just staying in familiar range against. On the other hand, Euro and Sterling are the softer ones. Aussie is also trading with an undertone after mixed job data....
Dollar Rises as Risk Sentiment Turns Sour, Sterling Shrugs Strong Inflation
Overall risk sentiment appears to have turned sour again today, with major European indexes trading in red, while US futures point to lower open. Australian Dollar is leading commodity currencies lower. Even New Zealand Dollar wasn't supported by the hawkish RBNZ hike. At the same time, Yen is also...
Kiwi Rebounds after RBNZ, Sterling Awaits Inflation Data
New Zealand Dollar trades broadly higher after RBNZ's rate hike today. But trading is mixed in other currencies. Commodity currencies are generally on the soft side for the week, but there is no follow through selling. Dollar is still the strongest, but it's struggling to extend the near term...
Dollar Remains Firm, But Yen Reversing
While Dollar remains generally firm, Yen is reversing much of this week's gain. The moves come as European benchmark yields are trading generally higher. Major European stock indexes are also in slight positive position. Canadian Dollar is rebounding, responding more to rising core inflation reading. European majors and other...
Dollar and Yen Firmer on Recession Talks
Yen and Dollar are so far stronger for the week, with recession as a main theme in the markets. Yet, their upside is relatively limited, as US stocks managed to extend near term rally overnight. Commodity currencies are generally on the softer side, but Aussie, Kiwi and Loonie are...
Yen Extending Rally on Negative Sentiment
Negative sentiment started earlier in the day following weak economic data from China, and spread particular serious to some commodities like oil and copper. Aussie is currently leading New Zealand and Canadian Dollar down. Yen is trading generally higher, taking Dollar and Swiss Franc up. Meanwhile, Euro and Sterling...
Yen Rises, Commodity Currencies Soften after China Data Miss
Commodity currencies soften mildly in Asian session today, following weaker than expected economic data from China. On the other hand, Yen is leading Dollar and Swiss Franc higher. Euro and Sterling are mixed for now. Overall sentiment is mixed, with notable gains in Nikkei but other Asian indexes are...
Downside Breakouts in Euro and Sterling Crosses to Overshadow Dollar Volatility
Expectations on the size of next Fed rate hike shifted again last week, with stocks cheering lower than expected consumer inflation reading in the US. Dollar ended as the worst performer but it did have a late come back following rebound in benchmark treasury yields. Indeed, it was the...
Sterling Falls Broadly after GDP, Dollar Paring Losses
Sterling falls broadly today while smaller than expected GDP contraction didn't ease recession worry. Euro is also weak following decline in Germany benchmark yield, but Yen was worse. Dollar, on the other hand, is trying to reverse this week's losses, with help from the strong rebound in 10 year...
Dollar Staying Weak, But Yen Turns Lower Too
Dollar remains the worst performing major currency for the week, but the dynamics are shifting. Yen is giving up much of its gain, following the strong rebound in benchmark treasury yields, but Swiss Franc is still firm. Euro and Sterling are somewhat under pressure too, while smaller than expected...
Dollar Selloff Resumes after PPI Miss
Dollar selloff resumes in early US session after lower than expected PPI reading. Aussie and Kiwi are strong as supported by risk-on sentiments but Canadian is lagging behind. Yen is also firm, together with Swiss Franc, thanks to falling yields. Euro and Sterling continue to be mixed. In other...