Yen Overwhelmed Dollar on Falling Benchmark Yields
Dollar ended broadly lower last week, as the worst performer, as hammered by the events of FOMC meeting and GDP release. In short, Fed chair has signalled slower tightening pace ahead and the message was reinforced by another quarterly GDP contraction print. Whether the US was already in recession...
Dollar Recovering after Strong PCE Inflation, But Still The Worst Performer
Dollar is recovering in early US session, follow another print of strong consumer inflation. 10-year yield is also back above 2.7% handle. Still, the greenback is the worst performer for the week together with Euro. Yen is retreating mildly but stays the strongest one for the week, followed by...
Yen Rallies Further on Falling Yields, Dollar and Euro Weak
Yen's rally intensified overnight and continues in Asian session. The move came in particular as US 10-year yield tumbled following the poor GDP report. For now, Dollar and Euro are the worst performing ones for the week, followed by Canadian. Sterling is following Yen as the second strongest and...
Yen Surges after Shocking US GDP Data
Yen rises strongly today, and buying intensifies in early US session, after surprisingly poor US GDP data. Benchmark treasury yield in both the US and Germany tumble sharply, aiding Yen's advance. Swiss Franc is also strong For now, Euro is the worst performer for today, as selling started earlier...
Dollar Broadly Lower as Fed Signals Slower Tightening Ahead
Dollar was sold off broadly overnight and stays weak in Asian session. Markets well received Fed Chair Jerome Powell's message that tightening pace is going to slow ahead. While stocks also rebounded, Yen reacted more to falling benchmark treasury yields. As for the week, the greenback is now the...
Dollar Mixed in Steady Markets, as Fed Hike Awaited
The currency markets continue to be relatively steady today, as traders are holding their bets ahead of Fed's expected 75bps rate hike. Euro is recovering slightly but remains the worst performer for the week, followed by Yen. On the other hand, Canadian Dollar is leading Australian and Sterling higher....
EUR/USD Resilient, But Vulnerable ahead of FOMC
Dollar is trading with a soft tone today, as focus turns to FOMC rate decision. Another 75bps hike is widely expected and Chair Jerome Powell is not expected to deliver any dramatic comments. Traders would likely come back after the event risk is cleared. In the currency markets, Euro...
Euro Under Pressure Again on Gas Worries
Euro is under heavy selling pressure today on renewed worries over cut off of Russia gas supply. It's additionally pressured and Germany 10-year yield breaks below 1% handle again. For now, Sterling appears to be a distant second. On the other hand, Dollar and Yen are gaining most, followed...
Dollar, Yen and Franc Soft in Quiet Cautious Markets
Markets continue to be very quiet in Asian session today. Investors are clearly holding their bets ahead of tomorrow's FOMC rate hike. Dollar is a softer one together with Yen and Swiss Franc. On the other hand, Canadian Dollar is firmer together with Aussie. Euro and Sterling are mixed....
Sterling Jumps, Yen Weakens in Quiet Trading, Euro Shrugs Germany Ifo
Overall sentiment appears to be positive in very quiet trading today. Major European indexes are trading higher while US and Germany benchmark yields are recovering mildly. Aussie is leading commodity currencies higher, as well as Sterling. Yen is currently the weaker one, followed by Swiss Franc and Dollar. Euro...
Dollar Recovers Mildly, But Needs Fed Guidance for Next Move
Dollar recovers mildly in quiet Asian session today, but it's bounded inside Friday's range except versus Canadian. The greenback will most probably wait until Fed Chair Jerome Powell's comment, after another 75bps this week, before taking another firm move. As for today, Euro is so far the firmer ones,...
Yield Curve Inversion and Recession Risks, Dollar the Worst Performer of the Week
Dollar ended as the worst performing one last week. Selloff somewhat intensified on Friday after poor PMIs indicated that the US economy was already in contraction. Deep fall in benchmark treasury yields dragged down the greenback while traders were betting on a lower terminal rate in Fed's tightening cycle....
Yen Surges With Falling Yields, Euro Hammered by Poor PMIs
Yen surges broadly today, together with Swiss Franc, following resumed decline in benchmark yields in US and Germany. Euro is sold off broadly, as the ECB lift faded, and as pressured by poor PMI data. Sterling is following as the second worst. Dollar is also weak on yields. For...
Euro Rally Fades Quickly, Dollar Staying Weak Too
The lift from ECB rate hike to Euro was rather brief yesterday. The common currency remains range bound again most currencies and turns slightly softer today. Dollar, on the other hand, is regaining some ground with Canadian and Swiss Franc. Overall, the greenback is still the weakest one for...
Euro Rises after ECB’s 50bps Hike, But Momentum Not Too Convincing Yet
Euro rises broadly after ECB raising interest rate by 50bps, and front-loads the exit from negative deposit rate. The central bank also maintains tightening bias. Swiss Franc is taken up by Euro too. Meanwhile, New Zealand Dollar is the worst performing one for today, together with Canadian and Yen....
All About Euro as ECB Rate Hike Awaited, BoJ Stands Pat
The forex markets are generally steady in Asian session today, with all major pairs and crosses stuck inside yesterday's range. BoJ's decision to stand pat on policy triggered little reaction. Instead, focus will turn to ECB, with main question on whether a 25bps hike will be delivered as pre-committed,...
Canadian Dollar Softens after CPI Release, Dollar Recovering Slightly
Canadian Dollar softens mildly in early US session after consumer inflation data. While CPI hit another near four-decade high, the reading was far below market expectations. On the other hand, New Zealand and Australian Dollar remains generally firm. Dollar is recovering slightly but stays as the worst performer for...
Kiwi and Aussie Jump on Improving Sentiment, Dollar Correction Continues
New Zealand and Australian Dollar trade broadly higher on the back on improving market sentiment. Asia indexes are tracking US stocks higher. On the other hand, Dollar continues to extend its near term correction, in particular against commodity currencies. Yen is also under some pressure. Meanwhile, European majors are...
Dollar Continues to Correct Lower, Euro Lifted by ECB Talks
Dollar's correction continues today and falls broadly. US stocks point to stronger extended rebound. Yen is also weak. Kiwi is currently the strongest, followed by Australian. Euro and Swiss Franc are next. In particular, Euro is lifted by reports that ECB would consider both a 25bps and 50bps hike...
Aussie Mildly Higher After RBA Minutes, Dollar Continues to Soften
Australian Dollar trades mildly higher in Asian session, after RBA minutes affirmed that further tightening is underway. New Zealand is also supported by somewhat steady risk sentiment. Canadian Dollar is also limited after WTI crude oil rebounded and regained 100 handle. Euro and Dollar are the softer ones for...