ECB Winning the Race of Hawkish Surprises, Euro Overpowers Sterling
It looks like ECB is beating BoE in the race of hawkish surprise in a jam-packed day. Sterling spiked higher after four of the nine MPC members have indeed voted for a larger hike of 50bps. However, there was no...
Markets Steady ahead of ECB and BoE, Dollar Staying Weak
The forex markets are generally steady in Asian session, as traders await ECB and BoE rate decisions. Dollar is staying as the weakest for the week one after yesterday’s selloff, followed by Yen. Aussie and Euro are the strongest ones....
Euro Jumps on Record Inflation, Dollar Tumbles on Poor ADP Job Data
Dollar tumbles broadly today as markets are staying in risk-on mode. Additional selling pressure is seen on the greenback after shocking poor ADP job data. On the other hand, Euro is lifted by another record reading in consumer inflation data....
Dollar Skyrockets on Hawkish Fed, Sterling Trailing Behind
The FOMC meeting turned out to me more hawkish than expected and markets are now pricing in four to five hikes this year, instead of three. Dollar was given a strong boost and surged broadly to end as the strongest...
Dollar Digests Gains after PCE Inflation Data, Aussie Broadly Lower
Dollar retreats mildly today after PCE inflation data posted no surprises. While there is some profit taking, the greenback remains the strongest one for the week by some distance. Selling focus has turned from Euro to commodity currencies today, as...
Dollar Staying Strong, Sterling Trying to Catch Up
Dollar remains overwhelmingly the strongest one for the week, as boosted by intensified Fed hike expectations. Sterling is trying to catch and trading as the next stronger, with special help from buying against Euro. Australian and New Zealand Dollar are...
Dollar Extends Strong Rally after GDP, Euro Downside Breakout
Dollar’s strong post-FOMC rally is given another boost in early US session by much better than expected Q4 GDP data. Latest jobless claims figures also suggest stabilization from the impact of Omicron. But for now, the strength is mainly centered...
Dollar Surges in Full Risk-Off Markets, Sentiment Destroyed by Fed Powell
Investor sentiment was basically destroyed by more hawkish than expected Fed Chair Jerome Powell. US stocks reversed earlier gains and closed mixed. But futures are already pointing to a gap down open today. Major Asia indexes are trading in deep...
CAD Dives after No So Hawkish BoC, Stocks Rebounding
Canadian Dollar tumbles notably in early US session after much less hawkish then expected BoC rate decision. The central bank stands pat while lowering both inflation and growth forecasts. Elsewhere in the currency markets, Yen is trading broadly lower with...
Dollar and Yen Firm as Markets Await BoC and Fed
Markets are relatively steady in Asian today, as traders are awaiting main events of BoC and Fed policy decisions. Asian stocks are treading water after weaker close in US overnight. Dollar remains the strongest one for the week, followed by...