Markets Mixed as Brexit and Trade War Remain Unresolved
Direction isn’t very clear in the financial markets today as they’re generally in consolidative mode. Sterling was lifted briefly overnight by UK Prime Minister Theresa May’s new Brexit plan. But it was quickly back to square one after the plan...
Yen Lower as Investors Relieved by Suspension of Huawei Ban, Sterling Higher on Short Covering
Risk aversion eased mildly today as markets respond positive to US decision to delay the sanctions of Huawei for 90 days. After some initial hesitation, Yen sell-off is picking up momentum in early US session, because of rally in stocks...
Australian Dollar Tumbles as RBA Hints on Rate Cut; Huawei Sanctions Temporarily Eased
Australian Dollar continues to be the spotlight of the week. It’s knocked down by RBA Governor’s comment that they’s going to consider cutting interest rates in June meeting. It’s actually slightly earlier than market expectations of an August cut. The...
US-China Trade War Intensifies with Huawei Isolation, Currency Markets Shrug Risk Aversion
US-China trade war remains a dominant theme in the global financial markets today. Words from both sides continued to indicate hard line stances. It doesn’t quite matter how much close to facts are their rhetorics. What matters most is that...
Australian Dollar Cheers Election Results, Euro and Franc Turn Softer
Australian Dollar open generally higher this week as traders cheer election results over the weekend. Canadian Dollar is also firm after USMCA members reached an agreement to remove steel tariffs and retaliations. Risks sentiments are steady in mixed Asian markets....
CHF, USD & JPY Surged on Deals, Sterling Plummeted
Deal, deal, deals. They’re the main themes in the markets last week. The cross-party Brexit talks in UK collapsed and a high profile Brexiteer is tipped to lead the Brexit process after current Prime Minister steps down. Tensions between US...
Sterling Pressured as Cross-Party Brexit Talks Collapsed, Sentiments also Weighed Down by Trade Worries
Sterling suffers heavy selling today as after Brexit negotiations between the UK government and opposition Labour formally collapsed. More uncertainties lie ahead as Prime Minister Theresa May will lay our the time line for stepping down, whether her Brexit deal...
Yen Mildly Higher as China Said to be Unkeen to Resume Trade Talks with US
Asian markets once again decouple from the US. While US stocks staged a strong rebound overnight, Asian indices are generally mixed. Weakness is indeed seen in China’s Shanghai SSE while Yuan resumes recent free fall. There is some negative reaction...
Sterling Extends Decline, Markets Shrug Trumps Huawei Threats
Market sentiments are generally steady today. Better than expected job and housing data lift Dollar mildly higher in early US session. Yen and Swiss Franc are trading of the softer side, paring some of this week’s gains. While US moves...
Yen Firm as Risk Aversion Remains, Australian Dollar Lower on Unemployment Rate
US stocks recovered overnight on talks that Trump is going to delay auto tariffs decision, due May 18, by up to 6-months. All major stock indices staged mild recovery. German DAX also reversed earlier losses to close higher. However, such...
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