Euro Dives as German Data Prompts Recession Fear, 10-Year Bund Yield Turned Negative
Fears of global recession intensify after shockingly poor German manufacturing data. Major European indices are all trading in red while DOW is down more than 100 pts at initial trading. More importantly, German 10-year bund yield turns negative for the...
Sterling Paring Losses as Brexit Cliff Edge Delayed for Two Weeks
After some roller coaster rides, Sterling is trading broadly higher for today after EU approved a short Brexit extension for UK. But overall, the Pound remains the weakest one for the week. Delaying the “cliff edge” by two weeks is...
Dollar Recovering Post FOMC Loss, BoE and SNB Shrugged
Dollar is trying to recover some of the steep losses triggered by much more dovish than expected FOMC economic projections. The greenback is now trading mixed for the day, and it’s indeed up against Sterling and Canadian for the week....
Dovish Fed, Recession Risks, Prolonged Trade War, Brexit Fatigue
Dollar tumbled sharply overnight as FOMC economic projected turned out to be much more dovish than expected. Selling continues today, in particular against the Japanese Yen, which is lifted broadly on after the sharp decline in US treasury yields, in...
Sterling Dives as Markets Disapprove May’s Short Brexit Extension, Dollar Mixed ahead of FOMC
Sterling suffers another round of selloff today as the markets clearly disapprove of UK Prime Minister Theresa May’s next step on Brexit. In short, she’s just seeking a short delay until June 30. But any date beyond May 23, when...
Dollar Higher But Gain Limited by Risks of FOMC Dovishness
Dollar trade generally higher today as markets await FOMC rate decision. But gain is very limited as traders are guarding against unexpected dovishness in Fed. In particular, such dovishness could be embedded in the new economic projections. Meanwhile, Swiss Franc...
German ZEW Lifts Stocks & Yield But Not Euro, Sterling Still Range Bound
The forex markets are having no clear direction for the moment. In particular, positive data from Europe were generally ignored by currencies even though yields and stocks are lifted. At the same time, there is no clarity regarding Brexit after...
Sterling Confused by Brexit Chaos, Australian Dollar Lower on House Price
The financial markets are generally quiet in Asian session today, with stock indices stuck in tight range. Sterling turned mixed after knee-jerk reactions to new Brexit chaos overnight. The Pound is probably as clueless the UK government on what’s next...
Sterling Softens as Traders Await Brexit Clarity, Aussie Lost Momentum after Initial Rally
Sterling is trading as the weakest one for today so far after suffering some selling in European session. No support is seen for the Pound even though high profile Brexiteer Jacob Rees-Mogg indicated that he might support Prime Minister Theresa...
Australian Dollar Surges as Asian Stocks Rally. Fed, SNB and BoE to Meet This Week
Strong rally in Chinese stocks is lifting Asian markets broadly higher today. Chinese president Xi Jinping is set to visit Italy, France and Monaco from March 21 to 26 this week. While there’s no detail on the visits yet, it’s...
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