No Follow Through in Risk Appetite after US Stocks Rebound
US equities staged a impressive rebound overnight and that’s actually the strongest since 2009. DOW closed up 4.98% or 1086.25 pts at 22878.45. S&P 500 rose 4.96% to 2467.70. NASDAQ jumped even more by 5.84% to 6554.36. Reactions in Asia...
Subdued Holiday Trading Continues, Yen and Swiss Franc Pare Gains
The forex markets are generally rather quite today as most major countries remained on holiday. After another day of free fall on Monday, US stocks futures point to higher open. DOW could recover by triple-digit but the sustainability of the...
Yen and Swiss Franc Strong as US Stocks Extend Plunge, Trump Urges to Buy Dip
Yen and Swiss Franc are so far the strongest ones for this holiday week. But trading is rather subdued in Asia, as part of the region are still on holiday. Activity will likely remain low in European session with Germany,...
Stock Markets Correcting 10-Year Up Trend But Fed’s Not to Blame
The global stock markets just turned from bad to worse last week. DOW suffered its worst week since the global financial crisis back in 2008, down the week by nearly -7%. S&P 500, down the month by -11.4%, is also...
Risk Aversion Eased ahead of Holiday, But Yen Remains Strongest
Yen remains the strongest one for today even though risk aversion eased a bit ahead of long holiday weekend. Dollar is following as the second strongest, reversing a lot of post FOMC losses against Euro and Swiss Franc. Commodity currencies...
DOW Dropped to Critical Fib Level, Yield Curve Flattened Further
While risk aversion continued in Asian session, volatility cooled mildly. Major pairs and crosses are staying in relatively tight range. Swiss Franc and Sterling are generally higher while commodity currencies are soft. But the picture for the day could easily...
Dollar Under Pressure But Loss Limited, BoE Dovish Shift Ignored
Dollar remains in the spotlight today as it suffers renewed selling in European session. It could be part of delayed reaction to the dovish FOMC rate hike yesterday. But then, while the greenback is the worst performing one today, loss...
Yen Surges as Markets Tumble on Insufficiently Dovish Fed
US stocks tumbled overnight, extending recent decline, as FOMC raised interest rate and the overall announce was less dovish than expected. Risk aversion also spread to Asian session. Commodity currencies are generally pressured as a result. New Zealand Dollar additionally...
Euro Surges as EU Finally Approved Italian Budget, Dollar Mixed Awaiting FOMC Guidance
Euro rises broadly today as Italy finally got its 2019 budget plan approved by the European Commission. Disciplinary actions are now avoided. Italian 10-yield yields tumbles sharply and is pressing September’s low. For now, Yen follows as the second strongest....
Dollar in Range ahead of FOMC, Preparing for Breakout
Dollar is mildly softer in Asian session as traders turn cautious ahead of FOMC rate decision. But it should be noted that, except versus less, and to a lesser extent Swiss Franc, Dollar isn’t that weak. EUR/USD, GBP/USD and AUD/USD...