Yen Broadly Lower as European Stocks Surge on Italy, Dollar Mixed after PCE
Improved risk sentiment is the main theme of today. Italian stocks lead other Europeans higher as investors responded well to S&P’s decision to keep Italy’s ratings unchanged, two notches above junk. Additionally, auto shares are lifted by report that China...
Muted Reaction to S&P Rating Review on Italy, UK Hammond’s Budget Speech Awaited
Commodity currencies are trading mildly higher today as Asian markets turned mixed. Australian Dollar is the stronger one, followed by New Zealand. On the other hand, Swiss Franc is the weakest, followed by Euro and Yen. Reactions to S&P’s rating...
Investors Starting to Change Their Mind on Fed Hike Path after Global Stock Market Rout
Global stock market rout intensified last week with major indices ended in deep red. Over the week, Nikkei was the worst performing one and lost -5.98%. S&P 500 was the worst one in the US and dropped -3.94%. NASDAQ closed...
Dollar Firm as Q3 GDP Beat Expectations, Yen Even Stronger as Risk Aversion Intensifies Again
Yen and Dollar are trading as the strongest ones today as risk aversion intensifies again in European session. Stronger than expected Q3 GDP growth in the US is giving Dollar some support. But it’s so far not enough to turn...
Australian Dollar Extends Down Trend, Yen Strong as Asian Stocks Ignore US Rebound
US equities staged a strong rebound overnight with DOW ended up more than 400 pts. But positive sentiment didn’t carry on in Asia as major indices are all in red. Intensification in selloff in the Chinese Yuan is a possible...
Euro Recovers Briefly on Confident ECB Draghi, But Strength Fades Quickly
Euro enjoys a brief recovery after ECB stands pat on monetary. ECB President Mario Draghi expressed his confidence on inflation outlook due to underlying strength of the economy. But together with other European majors, the common currency is quickly under...
Yen Rally Continues as Nikkei Suffers Worst Selloff in Asia, Euro Decline Halts ahead of ECB
Risk aversion is back as the main theme in the global financial markets. The crash in the US overnight has spreaded to Asia. At the time of writing, Japanese Nikkei is down -756 pts or -3.42%, being the worst performer...
Euro Tumbles as PMI Readings Suggest ECB Easing Bias, Dollar Firm With Canadian and Australian
The theme of the markets have switched from risk aversion to selloff in European majors today. In particular, Euro leads other down after weak PMIs point to further slow down in the economy. Even worse, Markit expects that the PMI...
Yen Lower as Risk Aversion Recedes, Canadian Dollar Awaits BoC Hike
Despite initial steep selloff, US equities staged a strong rebound before close and closed just slightly lower. The turnaround in sentiments carried on in Asian session with major indices all trading in black. With receding risk aversion, Australian and New...
Yen Surges as Global Stock Rout Extends, Sterling Lifted by Brexit Rumor
Risk aversion is the main theme in the financial markets today and all major global stock indices are in deep red. DOW futures are also down more than -400 pts at the time of writing. However, Sterling defies gravity and...
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