Sterling Jumps on Strong CPI, Euro Selloff Continues
Sterling jumps broadly today after much stronger than expected consumer inflation data, that raises the chance that BoE will “have to act” on interest rates soon. On the other hand, Canadian Dollar shrugs off strong, but inline with expectation CPI....
Dollar Extends Rally as Focus Turns to UK and Canada CPI
Dollar’s rally extends in Asian session, with EUR/USD breaching 1.13 key support zone. Meanwhile, USD/JPY also breaks 114.86 near term top. Sterling is so far very resilient as markets await inflation data from the UK. Canadian Dollar is just mixed...
Sterling Rises on Solid Job Data, Dollar Firm on Retail Sales
Sterling rises broadly today with help from solid job data, which eased the concerns over the impact of end of furlough scheme. Dollar is also firm as supported by better than expected retail sales sales. Euro is trying to digest...
Euro Selloff Intensified on Dovish Lagarde, Could EUR/USD Defend 1.13?
Euro tumbled broadly overnight, riding on dovish comments from ECB President Christine Lagarde. In short, Lagarde continued to talk down the need of early stimulus withdrawal and warned of the hurt to recovery for doing so. Swiss Franc is currently...
Aussie Jumps With Risk Appetite, Dollar Continues to Retreat
Australian Dollar leads other commodity currencies higher today, as supported by solid risk appetite. US futures indicate a much higher open and extended rally could push major indices to new record highs later this week. Dollar and Euro are currently...
Dollar Retreats Mildly in Asian Session, Yen Lower after GDP
Dollar retreats mildly in quiet Asian session today, but loss is limited. Some consolidations will likely be seen and further rally in the greenback is still likely to follow. Yen is also slightly softer after worse than expected GDP data....
Dollar Surges as Markets Added to Bets on June Fed Hike
Traders added to the bet of a June rate hike by Fed after stronger consumer inflation reading. Dollar surged across the board with Dollar index taking out an important fibonacci level. Benchmark currency yields staged a strong rebound. But stocks...
Dollar Digesting Gains, But Remains Strongest for the Week
Overall, trading in the forex market is rather subdued today. Dollar is retreating mildly but remains the strongest one for the week. Yen remains the distant second, while Sterling is third. On the other hand, Australian Dollar is the weakest...
Dollar Extending Broad Based Rally in Quiet Trading
Dollar’s broad based rally continues in Asian session today and looks set to have a strong close for the week. Talking about weekly performance, Yen is following the greenback as the next strongest. New Zealand Dollar and Australian Dollar are...
Canadian Dollar Accelerates Down on Weakening Oil, Dollar Staying Strong
Selloff in Canadian Dollar gathers pace today as WTI oil price is quickly heading back towards 80 handle. Other commodity currencies are also weak, with Aussie weighed down by poor job data. On the other hand, Dollar is staying firm...