Market Overview
Sterling Surges after BoE Rate Hike, Euro Catching Up after ECB
Sterling rises broadly after BoE surprised the markets by raising interest rates and maintains a hawkish tone. Solid risk-on sentiment as well as strong job data boosts Aussie as the second strongest. Euro is not performing badly after ECB announces to end PEPP net purchases in March. Indeed, the...
Dollar’s Post FOMC Rally Choked Off by Risk-On Sentiment; ECB, BoE and SNB Next
Dollar initially surged after Fed decided to double tapering pace and indicated there could be as many as three rate hikes next year. Nevertheless, the rally attempted was choked off by strong risk-on rally in stocks. Investors seemed to be relieved that firstly, Fed is still cautious on the...
Dollar Mixed after Weak Retail Sales, Fed Next
Dollar is trading mixed in early US session after weaker than expected retail sales data. The greenback is extending recent rally against Canadian, but pulls back against Australian. European majors are mixed while Yen is also trading a touch weaker. Other markets are quite too with Gold's selloff taking...
Dollar Firmer in Range as Focus Turns to FOMC
While Dollar is so far the strongest one for the week, there is clearly no follow through buying. The greenback is stuck in range against most others with traders on the sideline ahead of FOMC. Canadian and New Zealand Dollars are the two exceptions, which are already breaking through...
Dollar Shrugs Record PPI, Gold on the Move?
Commodity currencies remain generally weak today on mixed market sentiment. But buying is turned to European majors, with Swiss Franc having an upper hand. Dollar and Yen, on the other hand, soften mildly. The greenback has little reaction to record PPI reading. Meanwhile, it should be noted that major...
Dollar and Yen Rise on Slightly Negative Sentiment, Aussie Tumbles
Dollar and Yen rise following slightly negative risk sentiment. Major Asian indexes are generally lower, following the mild pull back in US overnight. Australian Dollar is leading commodity currencies lower. European majors are mixed with Euro trading a bit firmer than the others. Focuses will firstly turn to UK...
Dollar Mildly Higher as Traders Turn Cautious, CAD Dips
Dollar and Sterling firm up mildly in overall quiet markets today. Commodity currencies are, on the other hand, trading lower. Investors are turning cautious ahead of the wave of central bank meetings later this week, in particular on Fed's decision to faster the tapering pace. Oil prices also dip...
Markets Quiet Ahead of Fed, ECB, BoE, SNB, BoJ, and Lots of Data
The markets are rather quiet in Asian session. Stock indexes are trading higher but no follow through buying is seen. In the forex markets, major pairs and crosses are stuck inside Friday's range, with commodity currencies a touch firmer. Activity could remain subdued with an empty calendar for today....
Markets Back in Risk-on Mode, But Forex Mixed Awaiting Central Bank Meetings
Investors seemed to have already put Omicron risks behind last week, with markets turned back into risk-on mode. But the forex markets were indeed quite mixed. Commodity currencies were the strongest ones, but the rebounds are looking more like corrective. Yen was the worst performer, but the pull-backs were...
Dollar Shrugs Strong CPI Reading, Extending Sideway Trading
The multi-decade high in US CPI reading appears to be failing trigger any move in Dollar. The greenback is staying in very tight range in general. Commodity currencies are indeed trying to regain upside momentum. Yen is set to end as the worst performing, followed by Swiss Franc and...
Markets Turn Quiet ahead of US CPI, Dollar Awaits Range Breakout
The markets generally turn quiet in Asian session as markets are look forward to consumer inflation data from US. Before that UK GDP will also be a major focus. Commodity currencies, in particular Canadian Dollar, are losing much upside momentum even though they're still the strongest ones. Yen's earlier...
Dollar Recovers on Surprisingly Low Jobless Claims
Dollar rebounds mildly entering into US session, as supported by surprisingly good jobless claims report. Risk-on rallies in the stock markets also losing some momentum, helps lift Yen mildly. As for the week so far, Aussie remains the best performer, followed by other commodity currencies. Swiss Franc and Yen...
Aussie Rises Further as Risk-On Sentiment Continues
Market sentiment is generally positive in Asian session today. Australian and New Zealand Dollar are extending near term rebound. Other currencies are mixed, though. Canadian Dollar is paring some gains, after the non-eventful BoC rate decision. Sterling is trying to recover from yesterday's selloff. Dollar and Yen are mixed.
Technically,...
Sterling Tumbles as UK Said to Return to Restrictions, Pfizer News Lifts Sentiments
Much volatility is seen in the markets today, in particular in Sterling. The Pound tumbled sharply on news that the UK Government to going to activate a plan B and impose some restrictions as soon as on Wednesday, due to spread of Omicron. Yet, sentiments recovered After Pfizer said...
Canadian Dollar Strong on Risk-On Sentiment, as BoC Awaited
Following return of risk-on sentiment, commodity currencies are currently the best performers for the week. On the other hand, Swiss Franc and Yen are trading broadly lower, followed by Euro and Dollar. The economic calendar is very light today and main focus will be on BoC policy decision. At...
Risk-on Sentiment Coming Back, Aussie Extending Rebound
Risk-on sentiment is gather steam today with major European indexes trading broadly higher, while US futures point to higher open. WTI crude oil is also up another 2.5% and is back above 70 handle. In the currency markets, Australian Dollar is leading the rebound in commodity currencies, with help...
Yen Crosses Rebounding as Sentiments Turned Positive
Overtone in the markets turned positive with the strong rebound in US stocks overnight, while Asia indexes follow higher. Australian Dollar is recovering broadly after RBA stood pat and gave nothing new to the markets. On the other hand, Yen is trading broadly lower for now, followed by Dollar...
Aussie Recovering Slightly in Range-bound Markets, Yen Softens
Major currencies remain largely in range against each other in quiet trading today. Australian Dollar continues to lead other commodity currencies to recover. But Aussie's recovery could be short-lived if RBA delivers some unexpected dovish surprise in the coming Asian session. Meanwhile, Swiss Franc is turning notably weaker, followed...
Markets in Consolidation as Focus Turns to RBA, BoC and US CPI
The markets are relatively quiet in Asian session today. Major Asian indexes are mixed despite steep selloff last Friday. Currencies are bounded inside tight range, with Swiss Franc and Yen consolidation some of recent gains. Aussie and other commodity currencies also recover mildly. Gold and oil prices are also...
Swiss Franc and Yen Surged after Fed Powell Stirred Up Omicron-Nervous Markets
Just as the world is concerned and confused with the newly discovered Omicron, Fed Chair Jerome Powell stirred up the markets further, by talking up faster tapering. The biggest reactions were found in US treasury yields on strong safe-haven flows. Major stocks indexes also turned sharply lower, solidifying the...