Sterling Surges as UK and EU Agreed on Future Relationship, Now Awaits Reactions from May’s Cabinet
In an originally quiet holiday trading day, Sterling surges broadly as UK and EU agreed on the declaration on future relationship. The move, while strong, is relatively limited at this point. There seems to be some hesitation for Sterling bulls....
Focus Turns to ECB Accounts But Markets Are Already in Holiday Mood
Trading is rather subdued in Asian session today as the markets are already in holiday mood. For now, Euro is trading generally higher, followed by Sterling. Australia and New Zealand turned soft again. But most pairs and crosses are just...
Yen Weakens as Stocks Rebound, But Dollar Fails to Capture after Weak Data
Overall, market sentiments stabilized today as started in Asian session. With the help of rebound in Asian and strengthen Europe, US stocks are set to open higher to pare some of yesterday’s steep losses. As a result, New Zealand and...
Risk Sentiments Stabilized in Asia, Brexit and Italy Budget Back in Spotlight
While Asian markets initially opened lower following the US, major indices turned positive after lunch. The development lifted Australian and New Zealand Dollar slightly. But Canadian Dollar is treated differently as weighed down by resumption of free fall in oil...
Risk Aversion Intensifying, Yen and Swiss Franc Rally
Risk aversion dominates the global markets today and is intensifying. Major European indices are trading broadly lower with sign of downside acceleration. US futures also point to lower open, with DOW having triple-digit loss. In the currency markets, Australian Dollar...
RBA Minutes Upbeat, But Australian Dollar Weakens on Risk Aversion
Australian Dollar is under broad based selling pressure today. RBA minutes reiterated the non-urgency for any rate move. IMF report pointed out risks are tilted to the downside in Australia. But risk aversion is more likely the factor driving Aussie...
Swiss Franc Surges While Commodity Currencies Weaken
Swiss Franc is clearly the strongest one for today but the underlying reason is not apparent. There is no clear problem in emerging markets. Meanwhile, Euro is indeed following Swiss Franc, as another strong one. Sterling is a bit mixed...
Sterling Stabilizes as PM May Survived the Weekend, Dollar Recovers But Stays Soft
The forex markets are generally trading in tight range as the week starts. Yen, Dollar and Sterling are generally firmer. Australian Dollar and New Zealand Dollar are the weaker ones, together with Euro. But movements in the markets are very...
Brexit, Italy and Trade War as Focuses in Holiday Shortened Week
Sterling was overwhelming the weakest one last week on Brexit political drama in the UK. It’s now even uncertain for how long Prime Minister Theresa would stay in position, not to mention if there would be an agreement for orderly...
Yen Gathers Stream For Rebound ahead of Close, Sterling Pares Losses
Yen and Sterling are the two strongest ones today, but what they’re doing are very different. Yen is extending this week’s rebound. But Sterling is paring back Brexit triggered losses. Meanwhile, commodity currencies turned generally weaker as they’re paring some...
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