Sentiments Saved as Fed Powell Turned Cautious, China Stepped Up Supporting Measures
There were big roller coaster rides in the financial markets last week. Apple’s sales outlook downgrade heightened the concerns over serious slowdown in the Chinese economy. There was the “Currency Flash Crash” which sent through all key technical resistance levels...
Strong Non-Farm Payrolls Lift Sentiments, Dollar Rises With Hesitation
Global stock markets are staging a strong rebound today as China announced to cut bank reserve requirement to help the private sector and small companies. There is also a sense of optimism as China and US finally confirmed that trade...
Asian Markets Stabilized as China Pledges Countercyclical Measures, Yen Continues to Pare Gains
Despite the deep selloff in US stocks overnight, Asian markets are rather calm. Sentiments are somewhat lifted as China pledged to provide more stimulus, in particular to private and small companies. At the time of writing, Yen is trading as...
Dollar Weighed Down by Dovish Fed Comments, Canadian Lifted by Oil Rebound
Dollar received no support from better than expected ADP employment data. Instead, it’s weighed down by dovish comments from a Fed official. The greenback is trading as the second weakest for today in early US session. It’s just slightly better...
Yen in Driving Seat after Currency Flash Crash, Australian Dollar Suffers
Yen is trading as the strongest one for today after what many described as “currency crash”. Key levels in many Yen crosses were breached. or even broken. In particular, USD/JPY just hold on to 2017 low at 104.62 after hitting...
Yen Stays Strongest on Global Risk Aversion and Diving Yields
Yen remains the strongest one for today as the risk aversion dominates the global markets. Major European indices do pare back much of earlier losses. But it’s unsure whether the recovery could sustain. Persistent decline in German 10 year bund...
Yen Jumps as Asian Markets in Deep Selloff to Start the New Year
Yen surges broadly while Australian Dollar is pressured as Asian markets start the new year with deep selloff. Hong Kong HSI is quickly down over -2.3% in initial trading. China Shanghai SSE is down -1.0% and Singapore Strait Times is...
Swiss Franc Shows Power ahead of Weekend, Stocks Rebound in Progress
Just ahead of the weekend, Swiss Franc shows broad based power today as it surges across the board. Yen is trading as the second strongest one, but with much weaker momentum. For now, we’re unsure of the exact reason for...
Asia Shrugs US Stock Rebound Again, Some Dollar Weakness Before Year End
Despite initial setback, US equities extended the post-Christmas historic rebound overnight. DOW ended up 1.14% to 23138.82. S&P 500 rose 0.86% and NASDAQ added 0.38%. But the improvement in sentiments isn’t carried over to Asian session. Nikkei is currently down...
Yen and Swiss Franc Higher as Sentiments Turn Sour Again
While the US markets staged an historic comeback yesterday, sentiments didn’t stay long. After Asian markets turned mixed, European markets are now trading broadly lower. DOW’s over 1000pts rebound yesterday was impressive. But futures suggest that it’s going to give...