Sentiments Lifted by Delay of Some US Tariffs on China, But Markets Stay Cautious
Market sentiments staged a strong rebound overnight after US Trade Representative announced to delay tariffs on some Chinese imports. However, there seems to be no committed follow through buying/selling yet. DOW hit as high as 26426.97 but closed at 26279.91,...
Dollar Shrugs Pick-up in CPI Inflation, Swiss Franc Rises on Risk Aversion
Swiss Franc rises broadly today as risk aversion stays in the markets, even though Yen is firm but relatively unmoved. Sterling also recovers with help from stronger than expected wage growth. On the other hand, New Zealand and Canadian Dollars...
Forex Steady Despite Risk Aversion, UK Job Data Watched
The forex markets are rather calm so far despite deep risk aversion elsewhere. Most notably, US 30-year yield plunged sharply by -0.118 to 2.130, closing in to 2.102 historical low. Major Asia indices are all in red, following selloff in...
Markets Remain in Risk Aversion as Yen and Swiss Franc Maintain Momentum
Risk aversion is the main theme even though trading is generally subdued today. Yen is currently the strongest one, followed by Sterling and then Swiss Franc. The Pound is trying to recover upside is so far capped by no-deal Brexit...
Yen and Franc Firm in Quiet Trading, More Upside Ahead
The financial markets are relatively quiet today with Japan and Singapore on holiday. Yen and Swiss franc generally firmer but there is no clear follow through buying to extend last week’s rally yet. On the other hand, Dollar is soft,...
Global Risks Materializing, Stocks and Yields Tumbled, Yen and Franc Surged
US-China trade/currency war, no-deal Brexit, global slowdown and central bank easing were the main themes last week. The perceived risks to global economy were moving closer to materializing. Free fall in Chinese Yuan at the start of the week triggered...
Sterling Tumbles as GDP Contraction Raises Recession Fears
Sterling weakens broadly today as surprised contraction in Q2 UK GDP raised concerns of recession. In the background, risk of no-deal Brexit continues to weigh on sentiments. Canadian Dollar is suffering some renewed selling in early US session after worse...
Sterling Soft as Markets Await UK GDP and Productions
Sterling stays soft in Asian session and remain the second worst performing one for the week. Risk of no-deal Brexit continues to weigh on the Pound. UK GDP and production data could add more selling pressure. For the week, New...
Sterling Under Pressure as Johnson Might Delay General Election after Brexit Date
Sterling is back under pressure again in early US session and is trading as the weakest for today. Prime Minister Boris Johnson urged MPs to keep the promise to people an deliver Brexit on October 31. At the same time...
Markets in Consolidations as China Trade Data Support Sentiments
The forex markets are rather quiet today as major pairs and crosses are stuck in consolidations. Better than expected trade data from China gives sentiments a mild boost. But momentum of recovery is very weak so far. Treasury yields are...
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