Sterling Firmer in Tight Range, Yen Mildly Higher as US-China Trade Deal Back in Question
Commodity currencies are generally softer today, as led by New Zealand Dollar. Euro also turned softer despite slightly better than expected German ZEW economic sentiment. US-China trade deal appears to be in question again, but reactions are so far mild....
Australian Dollar Steady after RBA Minutes, Markets Staying in Tight Range
The forex markets are staying in tight range in Asian session today. More clarity is needed regarding two of the biggest global risks, before traders commit more. It’s unlikely for a Brexit deal to be reached at the EU summit...
Dollar Directionless after Mixed Non-Farm Payrolls
Dollar is relatively directionless in after mixed job data. The headline number is a slight miss and wage growth disappoints. Yet, unemployment rate dropped to lowest level since 1969. For today, Sterling is the weakest one as it looks like...
Sterling Rebounds as Johnson’s Brexit Plan Got Tories Backing
Sterling rebounds strongly as news emerged that UK Prime Minister Boris Johnson’s new Brexit plan is well received by Conservatives. The news is more than enough to offset poor PMI data released earlier today. New Zealand and Australian Dollars are...
Markets in Risk Aversion on Recession and Trade War Concerns, Yen Strong
Yen remains generally firm in Asian session today as risk aversion dominates. Selloff in US stocks overnight spilled over to other markets. Poor economic data, manufacturing and employment, raised recession concerns. Additionally, US is taking another step in global trade...
Dollar Regains Control With Job Data, But Yen Much Stronger
Dollar regains some control and stays firm after ADP job report. Though, it’s outshone clearly by Yen which is lifted by risk aversion. New Zealand Dollar comes in as second strongest as it’s paring some of recent losses. On the...
Dollar Rally Halted, Focus Turns to ADP Job First
The forex markets are trephining in rather tight range today. Dollar turned mixed overnight after poor ISM manufacturing data. Chance of another Fed cut in October, as priced in by fed fund futures, rose to 63.1%. But outlook could change...
Dollar Rises as Fed Evans Hints that Rate Cut is Done
Dollar surges broadly today after a Fed dove said that the rate cuts delivered are already enough to lift inflation back to target. Euro somewhat shrug off weak inflation and PMI data and follows as second strongest, then Swiss Franc....
Sterling and Euro Broadly Pressured, Dollar Mixed Awaiting Trade Talks
Weakness in Sterling and Euro was the main directions in the forex markets last week. Dollar tried to extend recent rally but ended mixed only. Upside of the greenback was limited by persistent trade uncertainties. While commodity currencies ended higher,...
Sterling Pressured as BoE Hawk Turns Dovish
Sterling weakens generally today after a known BoE hawk Michael Saunders surprisingly turned dovish. The Pound will likely end the weak as the worst performing one. Euro is trying to recover but there is little committed buying so far. The...
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