Sterling Jumps as Euro Bulls Lose Patience on EU Recovery Fund
While Euro rises initially today it’s starting to be overwhelmed by Sterling and Swiss Franc entering into US session. Words from officials regarding the talks of EU recovery fund were positive. European Commission President Ursula von der Leyen said the...
Euro Surges Again on Recovery Fund Progress, Yen Down on Poor Exports
Euro’s rally continues today as, despite some jitters, it appears that EU would agree on a compromised deal of recovery fund. It’s reported that after marathon negotiations, the Netherlands, Austria, Denmark and Sweden are satisfied with EUR 390B fund being made...
Euro’s Rally to be Tested by Outcome of EU Summit on Recovery Fund
Euro ended last week as the strongest one, as pushed up by hope of an agreement over EU’s post-pandemic recovery fund. The strength was particularly apparent against Swiss Franc and Sterling. Yet, up till the time of writing, there seems...
Euro Surges as Traders Await EU Decision on Recovery Fund
Euro and Swiss Franc rise broadly today but upside is so far limited. Traders are still cautiously awaiting EU leaders’s decision on the EUR 750B recovery fund. On the other hand, Sterling suffers notable selling for today, thanks to selling...
Dollar Mixed in Subdued Trading, With Prospect of Recovery Before Close
The forex markets are generally stuck inside yesterday’s range in subdued trading today. Chinese stocks attempted a recovery at the start of the session, but quickly turned into red again, continuing with Thursday’s mini-crash. Other Asian markets are mixed though,...
Dollar Firms Up as Chinese Stocks Drag Others Lower, Euro Firm after ECB
The sharp reversal in Chinese stocks is somewhat weighing on global sentiments today. European indices are generally in red while US stocks also open mildly lower. Dollar firms up mildly but upside momentum is unclear for now. Euro is also...
Dollar Trying to Recovery as Asia Turned Risk-Off, ECB Awaited
Dollar is trying to recover today as Asian markets turned into risk-off. Better than expected Q2 GDP data from China is largely ignored. Instead, Chinese stock lead Asia lower on concern of escalating geopolitical tension in South China Sea. Sterling...
Coronavirus Vaccine Hopes Prompt Full Risk-On, Dollar and Swiss Franc Dive
Markets are in strong risk-on mode again on coronavirus vaccine hopes. Moderna group said earlier that the vaccine candidate produced a robust immune system response in a large group of people. Next will be a decisive clinical trial in July....
Dollar Tumbles as Fed Stimulus Hope Boosts Risk-On Trades
Risk-on trades dominated the US markets overnight, as Fed officials indicated the willingness to keep accommodative measures in place. Yet, sentiments turned mixed in Asian markets. Hong Kong and Chinese stocks are weighed down by US President Donald Trump’s decision...
Euro Surges in Indecisive Markets, Sterling Stays Weak
Risk sentiments continues to be weak today but selloff in the stock markets is so far limited. Euro rides on the indecisive markets and surges broadly today, with help by strong rally against Sterling. Swiss Franc is following as the...