Dollar Soft Despite Solid ADP Job Data, Euro Follow Through Momentum
Dollar is trading as the worst performing for the day, and receive no support from solid ADP private job data. The greenback is somewhat weighed down by extended retreat in benchmark US yields. On the other hand, Euro is supported...
Yen Recovering, Euro Firm, Dollar and Sterling Struggle
It feels like the markets are turning a corner. Euro staged a strong rebound overnight on hope of cease-fire in Ukraine. Focus has then turned to Yen today, which is staging a notable recovery in Asia. On the other hand,...
Euro Rebounds on Peace Hope, Surging German Yield
Euro rebounds strongly today on hope of positive development out of negotiation between Ukraine and Russia. Top Russian negotiator Vladimir Medinsky was quoted saying that talks were constructive and a Putin-Zelenskyy meeting is possible. BBC also quoted Russian deputy defence...
Yen Consolidates as BoJ Defends Yield Cap, Dollar Firming Up
The forex markets are digesting recent moves in mixed Asian session today. Yen is recovering slightly but remains the worst performer for the week. BoJ is still trying hard to defend the 0.25% 10-year JGB yield cap. On the other...
Selling Focus Turns to Sterling as Yen Digests Losses
Yen remains the weakest one today, but there is some short covering as global benchmark treasury yields also retreat. Selling focus is turning Sterling instead. For now, Aussie and Dollar are the strongest one for the day, followed by Canadian....
Yen Selloff Resumes, Euro Follows, Bitcoin Breakout
Yen’s selloff resumes as another week starts on rising treasury yields while Asian stocks are mixed. European majors are also under some selling pressure, with Euro, Sterling and Swiss Franc steady among themselves. Meanwhile, Australian Dollar is performing well together...
Yen Extended Down Trend as US 10-Yr Yield Hit 2.5, Euro Vulnerable Again
Yen was once again the runaway loser last week as global benchmark treasury yields, except JGB, surged. BoJ has clearly put a cap in 10-year JGB yield and the result is widening spread and persistent Yen selloff. Euro showing some...
Euro Weakens after Poor Germany Business Climate, Yen Struggles to Recover
Euro turns slightly softer after poor German business climate reading, in particular against Swiss Franc, Aussie and Loonie. Dollar is also weak except versus Yen. Yen is trying to recover but there is no clear follow through buying. It’s the...
Dollar Turning Softer in Mixed Markets, Gold Extends Rebound
Overall markets are mixed in Asia today. While stocks in Hong Kong are suffering renewed selling, Japan and Singapore are steady. Gold is lifted by general weakness in Dollar. Yen’s selling looks more and more exhausted even though it’s still...
Fed Hawks Send Yield Higher, Yen Lower
There is no change in the overall theme in the forex markets. Yen’s decline continues and there is no sign of slowing yet. Hawkish comments from Fed officials pushed treasury yields further up. Fed Chair Jerome Powell will speak again...