The dollar and yen traded moderately softer against most other currencies amid a buoyant sentiment in Asian markets, which propelled the MSCI Asia-Pacific ex-Japan stock index hit a new record high. Sterling outperformance was another theme. There have been various positive news, ranging from Covid vaccines and treatments, to encouraging corporate earnings and economic data, […]
The dollar and yen came under pressure as risk-on positioning re-established. Pound outperformance was another theme. The MSCI Asia-Pacific ex-Japan stock index hit a new record high. Europe’s Stoxx 600 pared early gains, leaving last week’s eight-month highs unchallenged, but remained remaining buoyant. S&P 500 E-mini futures were showing a 0.5% gain as of the […]
The Dollar turned broadly higher in N.Y. on Monday, with the better Markit PMI outcomes providing the main driver. USD Short-covering was noted after the unit tumbled through much of the month of November. The DXY recovered from near three-month opening lows of 92.02 to 92.80. In addition, firmer Treasury yields gave some support to […]
The Swiss Franc may continue higher against the US Dollar as technical pressure favors USD/CHF bears. The New Zealand Dollar may have the upper hand against the Franc however after rallying to mult…
The US Dollar Index (DXY) is very near what could amount to a macro make or break spot on the charts.
US Dollar shorts unwind continues, JPY bulls head for exit. GBP shorts grow.
The Euro looks poised to continue gaining ground against the haven-associated counterparts and may reverse higher against the British Pound in the near term.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/CHF-bearish contrarian trading bias.