Yen Maintain Gains But Faces Momentum Hurdle, Dollar Indifferent to Weak Durable Goods
As the market transitions into early US session, Yen remains the best performer of the day, riding on Japan's stronger-than-anticipated CPI data. Despite the positive undercurrent, Yen has yet to find decisive buying momentum, suggesting that most traders are still on the sideline. Meanwhile, Australian Dollar trails as the...
Yen Inches Upward as Japan’s CPI Fuels March BoJ Hike Talks
Japanese Yen found modest strength in Asian session today, lifted by stronger than expected consumer inflation data from Japan. At the same time, two-year yield climbed to its highest point since 2011 while Nikkei is steady. The data intensified speculations around BoJ's move to abandon its negative interest rate...
Euro Gains Traction as Markets Eye Japan CPI, Commodity Currencies Lag
The global financial markets are overall very quiet today, marked by a noticeable absence of significant economic data releases or impactful news. Euro emerges as the frontrunner, leading European majors higher, while Yen sees a slight dip in anticipation of Japan's CPI data set to be released tomorrow. Commodity...
Caution Sets In Ahead of RBNZ, Global Inflation Data to Shake Markets
New Zealand Dollar weakens broadly in Asian session today, reflecting market caution ahead the RBNZ decision later this week, on concerns of less hawkish than expected outcome. The selloff in Kiwi is also dragging down Australian Dollar some what, while Yen and Dollar found some room to recover from...
Continued Euphoria Pushes Global Markets to New Records
The past week marked a significant milestone in global financial markets, as major indices like DOW, S&P 500, DAX, CAC, and even Nikkei all reached new record highs, buoyed by the widespread euphoria surrounding artificial intelligence related sectors. This wave of optimism to eclipsed the recalibrated expectations that some...
Yen and Dollar in Weak Positions as Traders Watch US Markets’ Record Rally
As US session gets underway, Yen and Dollar remain the weakest links in the currency markets, reflecting a broader trend of risk appetite among investors. All eyes are now on whether the US stock market can extend its record-setting run. In particular, there is anticipation that NASDAQ could catch...
Market Optimism Hits Highs, Yen and Dollar Falter as Equities Soar to New Heights
The global financial markets is riding a wave of strong risk-on sentiment, propelling DOW and S&P 500 to historical highs overnight, while NASDAQ achieved its best daily gain in over a year. That followed the record closes in DAX, CAC and Nikkei yesterday. This enthusiasm for risk has led...
Yen Falters in Risk-On Environment, Dollar Seeks Comeback With Surging Yields
Global financial markets are currently basking in a robust wave of risk-on sentiment, evidenced by Japan's Nikkei and Europe's Stoxx 600 indices reaching new record highs. The optimism is further bolstered by promising US futures, with the technology sector leading the charge, significantly propelled by Nvidia's impressive results. This...
Japan’s Stock Market Breaks Through the “Iron Coffin Lid”, Yen Broadly Lower
Japanese Yen had a broad-based declined in Asian session today, while Nikkei extended its recent up trend, momentarily reaching a new record high, ending the 34-year wait. This milestone is of considerable psychological significance for Japan, symbolizing the end of over three decades of economic stagnation ensued after the...
Speculations Over Fed’s Next Move Grow Increasingly Complex
Trading activity is relatively subdued today, with most major currency pairs and crosses hovering within the previous day's range. Australian and New Zealand Dollars are showing some resilience, maintaining their position as the firmer currencies, albeit without significant momentum. Swiss Franc has also edged higher in the daily performance...
Kiwi and Aussie Rise on China’s Market Boost, Dollar Weakens Ahead of FOMC Minutes
New Zealand and Australia Dollar rise appreciably in Asian session today, buoyed by a significant rebound in stock markets of China and Hong Kong. This positive momentum is largely attributed to the ripple effects of China's larger-than-expected interest rate cut earlier in the week. Hang Seng Index, in particular,...
Disinflation Progress Spurs Loonie Decline, Euro Climbs on Wage Data
Canadian Dollar weakens broadly in early US session, sparked by data indicating a stronger-than-anticipated progress in disinflation. Headline CPI fell below the 3% mark, accompanied by significant easing in core inflation measures. This development potentially opens the door for BoC to consider an interest rate cut sooner than anticipated,...
China’s Rate Cut Meets Indifferent Markets, Canada CPI Takes Center Stage
The financial markets are rather calm in Asian session today, while major currency pairs and crosses largely engage in a phase of consolidation. This tranquility comes in the wake of China's surprising decision to significantly lower its mortgage reference interest rate, a move designed to provide a much-needed boost...
Subdued Trading and Anticipation for RBA Minutes
Activity in the global financial markets are rather muted today, with major European stock indexes reading water within a narrow range. US futures are also showing little change, reflecting the quietness of US market holiday. In the currency sphere, movements are similarly subdued, with Euro and Swiss Franc ranking...
Services Sector Boost and Shifting RBNZ Rate Forecasts Propel NZD Higher
New Zealand Dollar bounces broadly in quiet Asian session, partly underpinned by notable improvement economic data which showed that the services sector has swung back into expansion at the start of 2024. Additionally, economists are increasingly expecting that more work is needed by RBNZ to cool the economic to...
Market Optimism Endures Through a Week of Economic Paradoxes
This past week showcased a rollercoaster of economic revelations and market responses. Despite a mix of apprehensions, especially surrounding inflation and monetary policies, the prevailing mood remained decidedly risk-on. That culminated in DOW and S&P 500 reaching unprecedented highs, even though both concluded the week on a relatively subdued...
Dollar Finds Footing on Strong PPI Data
Dollar stages a notable recovery in the early US session, buoyed by stronger than expected January PPI figures. The highlight was PPI excluding foods, energy, and trade services, which saw its largest monthly increase in a year, hinting at persistent underlying inflationary pressures upstream. Despite the current rebound rebound,...
Yen Dips as Nikkei Charges Toward Record High
Yen weakens mildly in Asian session today, contrasting with Nikkei's continued up trend towards historical high made in 1990. This development comes amidst diminishing impacts of Japanese officials' verbal interventions aimed at stemming Yen's decline. Without tangible policy measures to back these statements, the currency's depreciation has persisted. Meanwhile,...
Dollar Setback on Poor Retail Sales, Sterling Faces Recession Woes
Dollar's pullback intensifies in early US session, prompted by unexpectedly poor retail sales data for January. This underwhelming performance is reigniting debates about the enduring strength of consumer spending, a critical factor in fueling inflation. Although a single data point does not dictate the broader economic narrative, it nonetheless...
Japan’s Recession Can’t Hold Back Yen’s Recovery and Nikkei’s Surge
Japanese Yen recovers broadly in Asian session today, while Nikkei also soared to a new 34-year high, surpassing the 38k mark. The move came as a rather complex reactions to economic data showing that Japan unexpectedly slipping into recession. The surprised downturn also led to the country's demotion to...