Dollar Failed to Rally on Hawkish Powell, Aussie Rebounds after GDP
Dollar attempted for a rally overnight after hawkish comments from Fed Chair Jerome Powell, but momentum quickly faded. Instead, the greenback was dragged down by extended weakness in benchmark treasury yields. Overall market sentiment is stable in Asian session, helping...
Risk Selloff Resumes on Omicron, Dollar Vulnerable Against Euro and Yen
Selloff in stock markets resume today, after Moderna Chief Executive Stéphane Bancel foresaw “material drop” in effectiveness of current vaccines on Omicron. Benchmark treasury yields also tumble sharply on safe haven flows. In the currency markets, Canadian Dollar lead commodity...
Dollar and Yen Stay in Consolidation, Awaiting Next Move
Overall market sentiment is stable, with major Asian indexes mixed, following the recovery in US stocks overnight. Yen and Dollar soften slightly after turning into consolidations, but Swiss Franc is still strong. Commodity currencies are mixed with no follow through...
Yen and Franc Consolidate as Market Sentiment Stabilized for Now
The forex markets are staying in consolidative mode today as overall market sentiment stabilized. Major European indexes are paring some of last week’s losses while US futures also point to higher open. But it remains to be seen if it’s...
Markets Staying Heavy on Omicron Worries
Worries about Omicron remains a main theme in the markets. Nikkei takes a dive after Japan announced to close its borders to all foreigners as Prime Minister Fumio Kishida said he’s taking measures with a “strong sense of crisis”. The...
Investor Confidence Shattered by Omicron Variant, Yen and Swiss Franc Surged
Investor confidence was shattered by the news of the heavily mutated B.1.1.529 coronavirus variant, now called omicron. WHO warned that this variant has a large number of mutations, some of which are concerning. It added that preliminary evidence suggested an...
Yen and Swiss Franc in Strong Momentum as Risk Aversion Dominates
The new coronavirus variant is the main them in the markets today, sending global stocks and benchmark treasury yields sharply lower. Yen and Swiss Franc are trading sharply higher, followed by Euro. Commodity currencies tumble sharply on risk aversion but...
New Coronavirus Variant Sinks Investor Sentiment, Yen Marches Higher
Risk-aversion dominates Asian markets today as new coronavirus variant sinks investor sentiment. Australian Dollar is leading other commodity currencies lower. Yen and Swiss Franc surge sharply, followed by Euro and Dollar. Overall, it’s flight to safety. The question now is,...
Dollar Firm in Quiet Holiday Trading, Yen Soft
The forex markets are rather quiet in Asian session today. Trading will probably remain subdued with US on holiday. The greenback remains the strongest one for the week on speculation that the “transitory” yet persistent strong inflation would eventually force...
Dollar Rally Continues as Jobless Claims Dropped to Lowest Since 1969
Dollar’s rally continues today and stays firm after much better than expected jobless claims data. Yen is following as second strongest on risk-off sentiment, as major European indexes and US futures are in red. On the other hand, New Zealand...