Sterling Rebounds on Brexit Rethinks and Technical Support
Sterling stages a broad based rebound today despite poor PMI services data. The Pound is partly helped by technical support from GBP/USD (at 1.2661) and EUR/GBP (at 0.8939). Additionally, traders are probably reassessing Brexit scenarios. A tricky point is on...
Dollar Regains Ground as Investors Rush from Stocks to Bonds, Aussie Additionally Pressured by GDP Miss
The US stock markets closed sharply lower overnight while treasury yields also dived. Such patterns continue in Asia, seeing major indices pressured while JGB year yields also drop. There are clear flows out of stocks into bonds. Fed has already...
Dollar Broadly Lower as 10 Year Yield Breaks Below 3%
Dollar is under broad based selling pressure on falling treasury yields, globally. In particular, 10 year yield drops below 3% level for the first time since September. Canadian Dollar and Swiss Franc are following as the next weakest. On the...
Yen Surges as Nikkei Tumbles and JGB Yield Falls
Yen jumps broadly today as Asian stocks weaken, moving past the positive catalyst of US-China trade truce quickly. Nikkei closed down -2.39%, more than enough to reverse Monday’s 1.00% gain. Additionally, 10 year JGB yield is down is down -0.010...
Sentiments Supported by Trade Truce, But Sterling Down on Renewed Brexit Worries
The global financial markets are blessed by strong risk appetite today, as US and China agreed on 90 days ceasefire on trade war. US stock futures point to sharply higher open, following strengthen and European and Asian markets. Australian Dollar,...
US-China Trade War Ceasefire, Stocks and Aussie Surge, Dollar and Yen Weaken
US and China agreed not to escalate trade war after meeting between Trump and Xi. A cease-fire agreement was reached. Even though it’s just for 90 days, Asian markets responded positively to the development with all major indices recording solid...
A Look at Market Pricing on Fed Rate Path after Powell’s U-Turn
Fed Chair Jerome Powell’s speech last week was sort of a turning point. Stocks staged a strong rally and helped lifted Kiwi and Aussie as the strongest ones. Nevertheless, despite being sold off steeply, Dollar has indeed reversed much the...
Euro Lower after Inflation Data, Dollar Pare Losses ahead of Trump-Xi Meeting
The forex markets are generally staying in familiar range as traders turn cautious ahead of G20 summit and, of course, the highly anticipated Trump-Xi summit. There are rumors flying around on whether there will be a deal of no deal....
Dollar Recovers after FOMC Minutes, But Overall Markets in Consolidative Mode
Dollar is trying to recover again today, with rather weak momentum so far. FOMC minutes released overnight didn’t prompt renewed selling in the greenback. Instead, traders are turning cautious ahead of the highly anticipated meeting between Trump and China Xi...
Dollar Rebound Attempt Capped by Weaker Core Inflation, Yen Gains ahead of G20
After yesterday selloff triggered by Fed Chair Jerome Powell, Dollar turns mixed today. It did try to regain some grounds in early European session. But the attempt falters after weaker than expected inflation reading from the US. Focus will now...
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