ECB Winning the Race of Hawkish Surprises, Euro Overpowers Sterling
It looks like ECB is beating BoE in the race of hawkish surprise in a jam-packed day. Sterling spiked higher after four of the nine MPC members have indeed voted for a larger hike of 50bps. However, there was no clear follow through buying as BoE indicated there will...
Markets Steady ahead of ECB and BoE, Dollar Staying Weak
The forex markets are generally steady in Asian session, as traders await ECB and BoE rate decisions. Dollar is staying as the weakest for the week one after yesterday's selloff, followed by Yen. Aussie and Euro are the strongest ones. There is upside prospect for Euro even if ECB...
Euro Jumps on Record Inflation, Dollar Tumbles on Poor ADP Job Data
Dollar tumbles broadly today as markets are staying in risk-on mode. Additional selling pressure is seen on the greenback after shocking poor ADP job data. On the other hand, Euro is lifted by another record reading in consumer inflation data. Sterling is following Euro as markets await tomorrow's BoE...
Sentiment Turns Risk-On as Fed Talks Down 50bps Hike, Dollar Staying Soft
Overall market sentiment turned more positive after Fed officials jumped out to talk down the prospect of a 50bps hike in March. Australia Dollar is trading broadly higher, following risk-on sentiment, and shrugs off cautious comments from RBA Governor. Euro is following as the second strongest for now but...
Dollar Drops Broadly on Positive Market Sentiment, Reversing?
Dollar drops broadly today in rather mixed markets. Firmer risk sentiment might be a factor. Yet, Swiss Franc is currently the strongest, followed by Kiwi and then Aussie. Yen is also just steadily mixed. On the other hand, Canadian Dollar is also weak, without much support from stronger than...
Aussie Dips Mildly on Cautious RBA, Dollar Paring Gains
Australian Dollar dips broadly after RBA sounds surprisingly cautious regarding raising interest rates. But loss is so far very limited, as supported by improving market sentiment following strong rebound in US stocks overnight. Dollar is the second weakest, continuing to pare recent gains while Yen is also heading lower....
Euro Rebounds as German Benchmark Yield Turns Positive, Aussie Firmer ahead of RBA
Euro rebounds notably today as Germany 10-year yield turns positive. Nevertheless, Australian Dollar is even stronger as markets await RBA rate decision. On the other hand, Dollar and Yen are paring some recent gains. Sterling and Canadian Dollar are mixed.
Technically, EUR/GBP appears to be drawing support from 0.8304. Rebound...
RBA, BoE and ECB to Meet; US ISMs and NFP Featured This Week
The markets are generally steady in Asian session. Dollar is paring some recent gains while Yen and Swiss Franc soften. Trading in Asia would likely be subdue for the next few days on Lunar New Year holidays. But volatility is anticipated in the week as a whole considering the...
Dollar Skyrockets on Hawkish Fed, Sterling Trailing Behind
The FOMC meeting turned out to me more hawkish than expected and markets are now pricing in four to five hikes this year, instead of three. Dollar was given a strong boost and surged broadly to end as the strongest one. Nevertheless, reactions in the stock markets, while wild,...
Dollar Digests Gains after PCE Inflation Data, Aussie Broadly Lower
Dollar retreats mildly today after PCE inflation data posted no surprises. While there is some profit taking, the greenback remains the strongest one for the week by some distance. Selling focus has turned from Euro to commodity currencies today, as lead by Aussie. The overall close would still depend...
Dollar Staying Strong, Sterling Trying to Catch Up
Dollar remains overwhelmingly the strongest one for the week, as boosted by intensified Fed hike expectations. Sterling is trying to catch and trading as the next stronger, with special help from buying against Euro. Australian and New Zealand Dollar are taking turns to be the worst performer. Euro and...
Dollar Extends Strong Rally after GDP, Euro Downside Breakout
Dollar's strong post-FOMC rally is given another boost in early US session by much better than expected Q4 GDP data. Latest jobless claims figures also suggest stabilization from the impact of Omicron. But for now, the strength is mainly centered against European majors and Yen. Canadian Dollar is indeed...
Dollar Surges in Full Risk-Off Markets, Sentiment Destroyed by Fed Powell
Investor sentiment was basically destroyed by more hawkish than expected Fed Chair Jerome Powell. US stocks reversed earlier gains and closed mixed. But futures are already pointing to a gap down open today. Major Asia indexes are trading in deep red. Markets are now expecting as many as five...
CAD Dives after No So Hawkish BoC, Stocks Rebounding
Canadian Dollar tumbles notably in early US session after much less hawkish then expected BoC rate decision. The central bank stands pat while lowering both inflation and growth forecasts. Elsewhere in the currency markets, Yen is trading broadly lower with Swiss Franc as stock markets are staging a strong...
Dollar and Yen Firm as Markets Await BoC and Fed
Markets are relatively steady in Asian today, as traders are awaiting main events of BoC and Fed policy decisions. Asian stocks are treading water after weaker close in US overnight. Dollar remains the strongest one for the week, followed by Yen and then Canadian. Swiss Franc is currently the...
Dollar and Yen Rise Against as US Futures Dive, EUR/USD Ready for Downside Breakout?
Dollar and Yen rise again today as US futures point to sharply lower open. Yesterday's strong U-turn seems lacking momentum to extend. But selling focus has somewhat turned to European session, with Swiss Franc leading the way lower. Commodity currencies, except Kiwi, are mixed. In other markets, Gold is...
Sentiment Still Weak Despite Big U-Turn in US Stocks, Dollar Firm With Yen
US stocks staged a strong comeback overnight, with DOW staging the first-ever 1000-point-plus intraday U-turn. It's down -1100 pts at initially trading but closed up 11 pts eventually. Yet, risk-off sentiment remains dominant in Asia. Dollar is currently the strongest, followed by Yen. Sterling is the worst performer, followed...
Swiss Franc, Dollar and Yen on Risk Aversion as Ukraine Tensions Escalate
Swiss Franc, Dollar and Yen rise strongly today on risk-off sentiment as geopolitical tensions around Ukraine escalate. Aussie is currently the worst performing one, followed by Sterling and then Kiwi. Euro and Canadian are mixed. In the back ground, markets are also preparing for some hawkish comments from Fed...
Dollar Mixed Awaiting Fed Guidance, Markets Steady in Asia
The forex markets are pretty steady in Asian session even though others trade with a slight risk-off tone. Major pairs and crosses are stuck inside Friday's range for now. But volatility is guaranteed ahead, with Fed and BoC featured, as well as a large batch of important economic data....
Yen and Franc in Spotlights Again as Earnings Shook Markets
It's not Omicron nor Fed rate hike, but earnings. Bullish investors appeared to have finally gave up after disappointing Netflix report last week. NASDAQ led other major indexes sharply lower, and dragged down cryptocurrencies too. Given that Apple and Tesla will come next, there is risk of even more...