OVERVIEW The greenback is steady against the major currencies ahead of US employment data. The Australian Dollar is the strongest despite the back-to-back rate cuts by the RBA. Gold is up by 0.45% as the market expects retaliation over proposed new trade tariffs on EU imports.
The Dollar was narrowly mixed in N.Y. trade on Tuesday, though managed to keep the bulk of Monday’s gains. There was no data to move the markets, though that will change on Wednesday, as traders gear up for the ADP jobs report, trade, jobless claims, and factory data. EUR-USD was range bound between 1.1286 and […]
The Dollar has firmed up amid a strong post-G20 risk-on theme ensued, which has been interpreted by markets as meaning that the Fed is less likely to cut rates aggressively, with narratives promoting the view that latest truce in the U.S.-Chain trade war will at the least kill the possibility for the Fed to cut […]
The Dollar has rotated higher amid a strong post-G20 risk-back-on theme, interpreted by markets as meaning that the Fed is less likely to cut rates aggressively. Many market narratives promoted the view that the latest truce in the U.S.-Chain trade war will at the least kill off any lingering idea that the Fed may cut […]
The Dollar bounced in N.Y. trade on Monday, taking the DXY to eight-session highs of 96.82 from pre-open lows of 96.36. The agreed trade truce over the weekend appeared to have lowered expectations for aggressive Fed easing, which supported the USD through the session. Wall Street opened sharply higher, though bled a good chunk of […]
Narrow ranges have been prevailing among the dollar majors, with activity crimped by the looming G20 meeting and long-awaited meeting between Presidents Trump and Xi. Stock markets in Asia have traded modestly lower, while in forex markets the Yen posted fractional gains. This saw USD-JPY reverse most of yesterday’s gains in printing a low at […]
Jostling for position ahead of the Trump-Xi showstopper has mostly characterised trading so far today, while the Euro saw a rotation higher following some perkier-than-expected inflation readings out of the Eurozone. In equity markets, moderate losses were seen in Asian markets, while moderate gains were seen across European bourses. The Yen posted fractional gains against […]
OVERVIEW The US dollar is in negative territory, down 0.15%, as investors avoid heavy bets. The Canadian dollar surged to a five-month high against the greenback on better-than-expected GDP and crude oil prices. Safe-haven currencies and gold prices retreated on profit-taking activities. HIGHLIGHT
The Dollar managed modest gains in N.Y. on Friday, though for the most part, remained inside of recent trading ranges. The DXY headed to 96.30 highs, up from morning lows of 96.03. Incoming U.S. data was mixed, with income and spending data firmer, while the Chicago PMI slipped under the 50.0 boom/bust line for the […]
The Yen continued to weaken as forex and Asian stock markets opted for risk-on positioning ahead of the G20 summit, betting for some progress between the U.S. and China despite justifiable reasons to be wary, given the recent history for disappointment. AUD-JPY has been the biggest mover out of the main dollar pairings and associated […]
The Yen dipped and then rebounded some as risk appetite in global stock markets went from risk-on, which dominated in Asia today, before turning risk-off during the European AM session, where market narratives become more circumspect about the prospects for meaningful progress between the U.S. and China at the upcoming G20 summit, which seems entirely […]
OVERVIEW The US dollar made a comeback over reports that trade talks between Washington and Beijing are back on track. The Canadian dollar is ignoring a ban on its meat products by China and is trading firm against the USD on strong oil prices. Safe-haven currencies and gold prices are retracting ahead of the G20 summit.
The DXY edged slightly higher through the N.Y. session on Thursday, taking the index to 96.29 highs from opening lows of 96.15. Wall Street bounced some, though Treasury yields remained soft. Incoming data had Q1 GDP unrevised at 3.1%, while jobless claims were a bit higher than expected. U.S./China trade hopes were dashed some as […]
The Dollar has steadied after rising late yesterday at the prompt of remarks from Fed Bullard who, although a dove by reputation, said that a 50 bp rate cut in July would be “overdone.” This was taken by markets as a walk back of aggressive easing expectations. While giving the dollar a lift, the remarks […]
The Dollar has been trading mixed, holding steady against the Euro and Sterling, for instance, while rising about 0.5% against a generally weak Yen, which saw more of its safe-haven premium unwind as stock markets rallied at the prompt of U.S. Treasury Secretary Mnuchin’s assertion that a trade deal with China is 90% complete. USD-JPY […]
OVERVIEW The US Treasury Secretary believes a trade deal is close, which pushed the US dollar to a two-day high. The Canadian loonie consolidates against the USD as officials deal with Chinese meat ban. Gold prices retraced from 2019 highs as risk-on sentiment returns. HIGHLIGHT
OVERVIEW The US Treasury Secretary believes a trade deal is close, which pushed the US dollar to a two-day high. The Canadian loonie consolidates against the USD as officials deal with Chinese meat ban. Gold prices retraced from 2019 highs as risk-on sentiment returns. HIGHLIGHT
The dollar was mixed in N.Y. trade, losing ground to the Euro and CAD, while posting gains versus the Yen, and moving largely sideways against the Pound. Soft U.S. durables and a wider goods trade deficit weighed on USD sentiment, though a rebound in Treasury yields, and a modest Wall Street rally supported USD-JPY, taking […]
The Dollar hit fresh lows against the Euro and Yen, among other currencies, with the Treasury market having continued to price in Fed easing. Fed funds futures are fully pricing-in a 25 bp rate cut at the late July FOMC, and are factoring about 40% odds for a 50 bp move then. The market is […]
The Dollar was fairly steady, though under some pressure in N.Y. morning trade on Tuesday. Softer U.S. consumer confidence and housing data kept stocks and yields down, weighing on USD sentiment. Late, the DXY rallied to intra day highs following comments from Fed chair Powell, topping at 96.23, and up from N.Y. session lows of […]
Both the Dollar and Yen had been softening against most other currencies amid a cautious risk-on sentiment in global markets, underpinned by expectations for more policy accommodation by major central banks and a degree of relief that the U.S. and China have retuned to dialogue ahead of this week’s G20 summit in Japan. Deepening U.S.-Iran […]
The Dollar has started the week on a soft footing, which drove EUR-USD to a new three-month high at 1.1395, despite the sub-forecast German Ifo data. EUR-JPY also saw a new 11-day peak, while the common currency has remained buoyant against other currencies. The German Ifo business survey produced a Q2 headline reading of 98.2, […]
OVERVIEW The greenback is under selling pressure ahead of this week’s G20 meetings. The Canadian loonie continues to strengthen against the US dollar, backed by higher WTI crude oil prices. Gold prices move north of $1,400 amidst growing tensions between the US and Iran.
The DXY fell to three-month lows into the N.Y. open on Monday, later recovering to 96.18 before heading lower again. Treasury yields remained under pressure, with the 10-year note rate holding just over the key 2.00% mark. A softer Dallas Fed index weighed on Dollar sentiment as well. EUR-USD briefly topped the 1.1400 mark, before […]
USD-JPY fell for a third day and posted a fresh five-month low at 107.04. A combo of ramped-up expectations for Fed rate cuts, coupled with a rekindling risk-off vibe in global markets amid concerns about the escalation in U.S.-Iran tensions, pushed the pairing lower. While Wall Street closed higher yesterday amid the continued glow of […]
The Dollar majors have been trading mixed, with the U.S. currency itself consolidating, on net, following a two-day phase of underperformance. EUR-USD lifted out of the intraday low at 1.1283 at the trigger of forecast-beating flash June PMI estimates out of Germany and France, which drove the June flash Eurozone Composite PMI to a seven-month […]
The Dollar index fell to three-month lows of 96.25 in N.Y. trade on Friday, opening the session near 96.65. Fallout from Wednesday’s dovish FOMC outcome remained a driver, though Treasury yields managed small gains after stronger U.S. housing data. EUR-USD advanced to 1.1368 from early lows near 1.1300. USD-JPY traded to highs over 107.70, later […]
The Dollar has rotated lower after the Fed span dovish in its guidance following the FOMC meeting. The USD index has dropped by 0.7% from pre-announcement levels to a low at 96.278, seen earlier in the pre-Europe Asian session, while EUR-USD has concurrently rallied by over 0.5% in making a six-day high at 1.1284. The […]