Dollar Selloff Accelerates after Failing Resistance, Australian Dollar Strong on Fading Risk Aversion
Dollar trades broadly lower today and selloff accelerates in early US session. EUR/USD’s reversal ahead of 1.1507 key support level is a factor pressing the greenback. The Chinese Yuan is also attempting another rebound after yesterday’s brief setback, with USD/CNH...
Australian Dollar Steady after RBA Stands Pat, Dollar Pare Gains But Stays Firm
The forex markets are rather steady in Asian session today. Dollar is paring some gains and trades slightly lower. But it remains the strongest one for the week together with Canadian Dollar. New Zealand Dollar, however, trades broadly lower as...
Sterling Sold Off on Worries of No-Deal Brexit, Dollar Strong
Sterling is trading as the weakest major currency today as the talks on no-deal Brexit heat up. UK Prime Minister Theresa May’s spokesman tried to tone down the risks but the markets simply don’t listen. Swiss Franc follows as the...
Dollar Gains Broadly, as the Impact of Chinese Yuan Intervention Fades Quickly
Dollar gains broadly in a rather quiet start to the week. Asian stocks are given a lift by China’s move to stabilize the Yuan. But the impact quickly fades. At the time of writing, Nikkei is nearly flat after initial...
Euro as a Casualty as US-China Trade War Turns into Something Bigger
Much volatility was seen in the markets last week with a lot of themes developed. Canadian Dollar ended as the strongest one as strong data boosted chance of August BoC hike. Swiss Franc followed as the second strongest on risk...
Dollar Rally Hits the Wall of Chinese Intervention, Dragged Down by Mixed NFP
In early US session, Dollar is still trading as one of the strongest major currencies for the week, together with Canadian Dollar and Swiss Franc. However, it’s clearly losing some steam today and it’s in red against all others at...
EUR/USD Eyes 1.1574 Minor Support ahead of Non-Farm Payrolls
Sterling stabilizes after yesterday’s post BoE selloff. It’s trying for a recovery in Asian session today but lacks committed buying so far. Nonetheless, renewed selloff in New Zealand Dollar makes it the worst performing one for the week. The Pound...
Sterling Hammered as BoE Paints a Slower Rate Path ahead, Dollar and Yen Strong on Trade War
Sterling falls sharply today even though BoE delivers the highly anticipated rate hike. Selloff comes in after the dovishness as seen in the inflation report is confirmed by Carney’s press conference. Australian Dollar and New Zealand Dollar follow as the...
Asian Markets in Deep Red on Trade War, Dollar Surfs Up
The FOMC rate decision overnight was largely ignored by the markets. Instead, Asian equities plunged sharply today as US formally announced to raise the tariffs on USD 200B of Chinese imports from 10% to 25%. Chinese stocks lead the decline...
Dollar Pares Gain Despite Strong ADP Employment, FOMC Unlikely to Inspire
Dollar pares back some of today’s gain in early US session. The better than expected ADP employment data provides no lift to the greenback. Focus will be turning to ISM manufacturing and FOMC rate decision. Nonetheless, as at the time...
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