Markets Sold Off on Coronavirus Worries, Dollar Momentum to be Capped by Yen Strength
China’s new coronavirus overshadowed central bank activities last week and prompted global risk aversion. At the timing of writing, death toll jumped to 41 while more than 1300 people have been infected globally. The virus has already spread from Wuhan...
Euro and Sterling Dip after PMIs, Dollar and Canadian Firmer
European majors are generally weaker today. Stronger than expected UK PMIs add to the case for BoE to stand pat next week. But the Pound shrugs off the data. Euro also receive no particular support from PMIs, which signals that...
EUR/GBP Weak ahead of Eurozone and UK PMIs
Euro continues to trade with a soft tone in Asian session, and there is no sign of recovery after yesterday’s post ECB selloff. Australian Dollar is also weak after poor PMI data, even though markets are pushing RBA cut bets...
Euro Weakens after Uninspiring ECB, Risk Aversion Dominates With Coronavirus Fears
Euro is trading as one of the weakest major currencies, together with Canadian Dollar, for today. There is little inspiration from ECB rate decision and press conference. Canadian Dollar is weak on free fall in oil price, with WTI pressing...
Aussie Recovers on Receding RBA Cut Bet, But Yen Stronger on Coronavirus Worries
Australian Dollar rises broadly today as markets pare back bet on RBA rate cut in February, following better than expected job data. Though, upside is limited by risk aversion while Aussie is just following Yen as the second strongest. Asian...
Sterling Surges on Record Improvement in Business Optimism, Traders Pare BoE Cut Bets
Sterling jumps broadly today as traders pare back bet on an imminent rate cut by BoE next week. Record improvement in quarterly business optimism is seen as a trigger for the sharp change in expectations. Canadian Dollar attempts to rally...
Canadian Dollar Mixed Awaiting BoC and CPI, Dollar Firmer
Yen and Swiss Franc turn mildly softer today as risk aversions receded. Asian stocks recover generally even though upside is limited. Traders remain cautious on coronavirus outbreak in China, which has already spread to the US. Sterling, Euro and Dollar...
Sterling and Euro Rebound on Data, Risk Aversion Remains
Sterling and Euro rebound strongly today as lifted by solid economic data. But overall market sentiments remain weak concern of outbreak of coronavirus in China, ahead of lunar new year mass travel. Commodity currencies continue to trade as the weakest...
Risk Aversion Dominates on Concerns of Coronavirus Outbreak in China
Risk aversion dominates the Asian markets today on concerns of coronavirus outbreak in China. Hong Kong HSI leads the way down, additionally pressured by Moody’s downgrade. In the currency markets, commodity currencies are broadly lower, with Australian Dollar suffering biggest...
Dollar Rises Again after Brief Retreat, EUR/USD Pressing Key Support
Dollar, Canadian and Yen are so far the strongest ones in a relatively quiet day. The greenback is supported by recent data as well as easing trade tension. But as the US economic calendar is ultra light this week, Dollar’s...
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