Gold Jumps on Ukraine Risks, Swiss Franc Firm and Euro Weak
The forex markets are pretty steady in Asia session today, with major pairs and crosses bounded inside yesterday’s range. Sentiment is mixed as investors are awaiting to see Russia would invade Ukraine on February 16, as media reported. But the...
Yen Takes a Breather after Lavrov Comments, Dollar Firm
While risk aversion still dominates, sentiments appeared to be lifted by comments from Russian Foreign Minister Sergei Lavrov. In a televised exchanged, Lavrov told President Vladimir Putin, “I must say there are always chances… It seems to me that our...
War Fear Overwhelmed Rate Hikes; Oil, Gold, Yen and Franc Surged
War or rate hikes, it’s very clear that investors are worried about the former. Sentiment took a deep dive on Friday on worries over an imminent Russian invasion of Ukraine. WTI crude oil surged to new 7-year high while Gold...
Risk-off Sentiment Dominates as Expectation of 50bps Fed Hike Intensified
Much volatility was seen in the markets overnight, but as dusts settled, risk-off sentiment dominated. Fed funds futures are now pricing in 94.7% chance of a 50bps rate hike by Fed after the strong CPI reading, comparing to just 33.7%...
Aussie Rises on Risk-on Sentiment, Dollar Soft Despite Rising Yields
Australian Dollar rises further again with help from risk-on sentiments in the US and Asia. On the other hand, Dollar turns soft despite rising treasury yields. Canadian Dollar is dragged down slightly by oil prices. Other parts of the forex...
Dollar Strengthens Mildly in Quiet Trading, Gold Recovers Further
Dollar strengthens mildly in Asia today but overall markets have been quiet this week so far. Euro continues to consolidate last week’s sharp gain, ahead of a key near term resistance against the greenback. Commodity currencies are the slightly stronger...
Euro Extending Consolidations Despite Improving Investor Confidence, Dollar also Soft
Australian Dollar is leading commodity currencies higher in relatively quiet trading today. Swiss Franc is also firm, but mainly because Euro is consolidation gains. Sterling is currently the weakest one, followed by Euro and then Dollar, while Yen is mixed....
Euro Retreats ahead of Key Resistance, US CPI the Biggest Event for the Week
The markets are steady in Asia in a quiet start to the week. Euro is softening slightly, paring some of last week’s gain. Aussie and Kiwi also turn weaker on mild risk aversion. On the other hand, Dollar and Canadian...
Euro Flexes Muscle after ECB, Staging Broad-Based Bullish Reversal?
It was a week a surprises. While BoE delivered that a 25bps hike, four of the nine MPC members have indeed voted for a 50bps raise. However, there was no follow through buying as BoE indicated only “modest” tightening would...
Dollar Fights Back on Strong NFP and Wage Growth
Dollar is rebounding strongly in early US session following much better than expected job and wage growth. The greenback is apparently turning the tide against all major currencies, except Euro. The common currency is still the runaway winner for the...