Wall Street Hits Records Despite Shutdown, Yen Strength Continues
The ongoing US government shutdown has done little to rattle investor sentiment so far. Wall Street shrugged off the impasse, with the S&P 500 closing at a fresh record high overnight while DOW and NASDAQ also advanced. In Asia, risk appetite carried through as Hong Kong surged on its...
Dollar Slips as Fed Cut Bets Surge on ADP, Yen and Sterling Firm
Dollar weakened broadly in early US trade after a sharp miss in the ADP employment report. The data amplified concerns that US job growth is faltering, and rate markets reacted swiftly. A quarter-point Fed cut this month is now fully priced in, while the odds of another cut in...
Yen Stays Firm on Tankan Resilience, Broader Markets Subdued
Trading was relatively subdued in Asia today, with China and Hong Kong closed for holidays and little reaction seen across the rest of the region. Equity markets were mixed, reflecting a cautious tone after Wall Street managed to end slightly higher overnight despite a fresh government shutdown in the...
Markets Cautious at Quarter-End, Aussie and Yen Lead FX
Australian Dollar is staying the day’s top performer, rallying after the RBA kept its cash rate unchanged but leaned hawkish in tone. Later at the press conference, Governor Michele Bullock avoided any firm guidance on future cuts, telling reporters she would not “predict what the interest rate is going...
Aussie Surges on RBA Hawkish Tilt, Yen Supported Despite Data Weakness
Aussie rallied broadly after the RBA left policy unchanged at 3.60% but issued a statement that leaned hawkish. Traders were quick to note the Bank’s warning that Q3 inflation may come in stronger than projected in August, a reminder that the disinflation path remains far from assured.
The RBA’s tone...
Yen Leads as BoJ Hawkish Signals Build, Focus Turns to RBA
Yen held firm as the strongest performer heading into the US session, supported by mounting speculation that the BoJ is moving closer to a rate hike. Traders seized on a hawkish shift from a known dove on the Policy Board, a sign that internal momentum is building for further...
Yen Recovers as Nikkei Pulls Back, Dollar Pressured by US Shutdown Risk
Yen jumped broadly in Asian trading today, marking a strong performance on the penultimate session of Q3. The move coincided with a drop in Nikkei, where ex-dividend effects weighed on equities, prompting flows into Yen. The quarter-end context likely amplified positioning shifts.
Beyond equities, anticipation of the BoJ’s upcoming Summary...
Dollar Dominates as Strong Data Cuts Odds of Aggressive Fed Easing
Currency markets closed last week with a shift in tone, as traders suddenly found themselves recalibrating on Fed's easing path once again. The resilience of the US economy surprised many. Growth, hiring, and investment all showed more strength than anticipated, fueling doubts about whether policymakers truly need to accelerate...
Dollar Steady After PCE, Euro Finds Support on ECB Survey
The forex markets are relatively steady in early US trading, with most pairs consolidating after a week of sharp moves. The latest batch of US data offered few surprises, leaving traders reluctant to push directional bets ahead of next week’s pivotal employment report.
US PCE inflation for August came in...
Trump’s New Tariff Wave Hits Sentiment, PCE Data Eyed
Asian stocks edged lower today as investors digested fresh U.S. tariff announcements from President Donald Trump and tempered expectations for aggressive Fed easing. Risk appetite softened, with trade uncertainty once again colliding with questions over monetary policy.
At the Fed, officials remain hesitant to commit to a firm easing path....
Dollar Soars on Strong US Data, 10-Yr Yield Jumps Toward 4.2%
Dollar rallied broadly at the New York open after a powerful run of data, with Treasury yields surging as investors trimmed Fed cut bets. The 10-year note climbed toward 4.2%, while stock futures dipped modestly, reflecting the possibility that stronger growth could keep policy tighter for longer.
A major catalyst...
BoJ Hawkish Lean Fails to Lift Yen, Franc Outperforms Ahead of SNB
Trading remains subdued in the Asian session, with all major currency pairs locked inside yesterday’s ranges. Directional conviction remains elusive as traders look to fresh catalysts from both data and central bank events.
Minutes from the BoJ’s July meeting leaned hawkish, showing more board members are warming to the idea...
Dollar Gains, Yen Slips as FX Flows Lack Unified Theme
Dollar strengthened broadly in European session despite limited fresh news flow, but it remains overshadowed by Australian Dollar. Aussie continued to draw support from today’s stronger-than-expected CPI release, which reinforced the view that the RBA will tread cautiously on rate cuts.
There is little sense of a unified theme across...
Powell Dovish Tilt Keeps Dollar in Consolidation, AUD Outperforms
Aussie is leading the performance board today, supported by stronger-than-expected CPI data and t risk-on tone across the region. Headline inflation ticked up to 3.0%, reinforcing the view that the RBA will remain on hold at 3.60% next week. Next week’s statement and press conference could emphasize vigilance on...
European PMIs Shrugged Off, Focus Turns to Aussie CPI
The forex markets remained largely directionless today, with consolidative trading dominating across major pairs. Price action was muted, and the release of PMI data failed to provide much impetus, with investors largely shrugging off the surveys.
Eurozone PMIs offered a mixed picture. Germany showed a promising improvement, but sluggish readings...
Aussie, Kiwi Slip on Asia Stock Retreat, PMIs Weigh, Dollar Awaits Fed’s Bowman and Powell
Commodity currencies slipped in quiet trading today, with Aussie and Kiwi leading losses as regional equities pulled back. With Japan on holiday, volumes were thin, but risk sentiment deteriorated after both Chinese and Hong Kong tech stocks retreated from a month-long rally.
Australia’s PMI data added further weight to the...
Dollar Rebound Pauses, FX Range-Bound as Markets Awaits Fedspeaks
Trading remained subdued in the forex markets today, with most major pairs consolidating within Friday’s ranges. Dollar has given back some of last week’s gains, though selling momentum remains modest and order flows are light. Market conviction on the Fed outlook remains steady. Futures price a 92% probability of...
Quiet Markets Look to Fed and BoE Commentary
Forex markets started the week on a subdued note, with Asian trading showing little momentum. With no top-tier data scheduled, activity is likely to stay muted until later in the week, leaving traders watching central bank commentary for direction.
Several Fed officials are set to deliver remarks today, their first...
Everybody Happy? Fed’s Decision Calms Markets—for Now
The past week has been anything but quiet for global markets. A long-anticipated Fed rate cut finally arrived, but the message was less dovish than traders had braced for. Instead, policymakers struck a balance — restarting the easing cycle while simultaneously projecting confidence in the economy’s resilience. That left...
Dollar Gains Momentum, Outpaces Peers as 10-Year Nears 4.15%
Dollar’s rebound is gathering strong momentum today, surging broadly across the board as markets continue to realign with the Fed’s message from midweek. After being under pressure earlier in the week, the greenback is now positioned to potentially end as one of the strongest performers. Supporting the move, U.S....