Sterling Lifted by Services PMI But Buyers Hesitate
Sterling is so far the strongest major currency today. Better than expected UK services PMI raised the chance of an August BoE hike. But there is no follow through buying in the Pound yet. BoE’s decision will be heavily data...
Dollar Higher as US Yields Rebound, Aussie Pares Gain as Neutral RBA Stands Pat
Dollar trades broadly higher today as helped by the rebound in US treasury yields. 10 year yield closed up 0.042 at 2.937 overnight. With a base formed at 2.759 last week, TNX will likely head higher to 3.000 handle. The...
Dollar Under Broad Based Pressure as Correction Extends, Aussie Hold Gains ahead of RBA
Australian Dollar remains the strongest one today as helped by strong risk appetite. At the time of writing, TSE is trading up 0.55%, DAX up 0.25% and CAC Is up 0.33%. US futures also point to another day of rally....
Australian Dollar Higher on Retail Sales, Trade Tensions Shrugged by the Markets
Australian dollar opens the week higher as lifted by stronger than expected retail sales today. That’s followed by Euro as the second strongest as European political risks receded. As sentiments improved, Yen stays soft against all others, followed by the...
A Look at Why Dollar Failed to Surge on Strong US Job Numbers
It was a roller coaster week with political turmoil in Italy dominated the first half of the week. The formation of the populist Italian government after acceptance by President Sergio Mattarella marked the end of the episode. Trade war then...
Dollar Jumps on All Round Better than Expected NFP
Dollar surges in early US session after non-farm payroll report beat market expectation on all front. The job market grew 223k in May, above expectation of 190k. Unemployment rate dropped to 3.8%, beat expectation of 3.9%. That’s also the lowest...
US-World Trade War Formally Starts as EU, Canada and Mexico Ready Retaliation
Trade war is the dominate theme for the market at the moment after US starts to impose steel and aluminum tariffs on its closest allies in Canada, Mexico and the EU. The move drew strong criticism from these countries and...
Trump Escalates Trade Tension by Imposing Steel Tariffs on Allies EU, Canada and Mexico
Euro has been strong most of the day as Italian political risk temporarily receded. Stronger than expected Eurozone CPI reading also provided some support to the common currency. But it’s Yen that’s taking the spotlight again in early US session...
Dollar Pressured as Focus Turns from Italy to US Steel Tariffs and Trade War
The forex markets are mixed today so far. Easing concerns over Italy political turmoil calmed markets temporarily. But the situation is not solve yet. Meanwhile, the upcoming decision on US steel tariff temporary exemption could turn sentiments around again. For...
Euro Recovers on Revived Hope of Italy Government Formation, Robust German Data
Euro recovers broadly today as markets digest the over-stretched decline. Negative sentiments over Italian political turmoil recedes mildly as there is revived hope of a non-anti-euro government. Italy 10 year yield pull back below 3% handle while German bund yields...
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