OVERVIEW Investors are switching to safe haven currencies with new tariffs looming GBP/USD trades around 1.30 handle ahead of UK GDP data NYMEX WTI crude oil steadied around $61.50 a barrel, applying pressure on commodity-linked currencies
The Dollar index fell to seven-session lows of 97.24 in N.Y. on Thursday, coming from opening highs of 97.63. Incoming data was a bit softer than expected, with core PPI a bit cooler, jobless claims a bit higher, and the trade deficit a bit wider. Focus remained on the risk backdrop, where U.S./China trade spat […]
The Dollar majors have remained within their respective Thursday ranges so far, and stock markets in China and most of Asian have risen despite the U.S. having implemented tariff hikes on $200 bln worth of Chinese imports, and threatening more. The reason is that President Trump said that a trade deal with China was still […]
Currency markets have been trading calmly, with the Yen unwinding some of its safe have premium while currencies with higher higher beta characteristics, such as the Dollar bloc and most developing-world units, firmed up. This was seen concurrently with a rise in stock markets in Europe and Asia, led by a 3%-plus surge of the […]
OVERVIEW US dollar Index points lower after soft CPI data Canadian loonie strengthens over solid employment data. NYMEX WTI crude oil moves higher adding firmer support to commodity-linked currencies HIGHLIGHT
The Dollar firmed up slightly in N.Y. trade on Wednesday, though trade was quiet overall. The DXY edged up to 97.68 highs from lows of 97.46. Reports that China is ready to make a trade deal with the U.S.as negotiations continue in Washington on Thursday and Friday, helped Wall Street bounce some, though uncertainty over […]
The Yen continued to rally as risk aversion coursed through global markets. President Trump repeated that China “broke the deal” and would pay for it, with the U.S. set to raise tariffs to 25% from 10% on $200 billion worth of Chinese imports at 12:01 A.M. ET on Friday. China has threatened to retaliate, though […]
A risk-off theme dominated after President Trump repeated yesterday evening at a rally that China “broke the deal” and would pay for it, which saw safe-haven demand drive the Yen to fresh highs against the Dollar and many other currencies. China’s bellwether CSI 300 equity index finished 1.9% for the worse, extending the weekly decline […]
The Dollar moved higher in N.Y. trade on Tuesday, taking the DXY to 97.74 highs from opening lows near 97.55. Safe-haven flows into the USD were behind the modest gains, as U.S./China trade concerns remained front and center, as Wall Street tumbled, and Treasury yields headed lower. EUR-USD slipped under 1.1170 from near 1.1200 at […]
The Dollar has traded softer, reflected by the narrow trade-weighted USD index posting a one-week low at 97.39. The index is now down about 1% from the two-year high seen on April 26. The follows Wall Street’s worst day in two months, with the S&P 500 closing 1.7% for the worse, as markets continued to […]
The Dollar has remained on a softer tack, reflected by the narrow trade-weighted USD index posting a one-week low at 97.39. The index is now down about 1% from the two-year high seen on April 26. The follows Wall Street’s worst day in two months as markets continued to digest looming tariff hikes on imported […]
The Dollar attempted to rally early in the session, though later headed to intra day lows. The DXY fell from 97.70 to 97.47. Trade was nervous in light of the new U.S. tariff threat on China imports, seeing Treasury yields fall along with Wall Street. EUR-USD rallied over 1.1205 from 1.1280 early lows. USD-JPY moved […]
The Australian Dollar rallied strongly after the RBA refrained from cutting interest rates, instead leaving the cash rate at 1.50% following its policy review today. There had been speculation for the central bank to cut by 25 bp following unexpectedly soft Q1 CPI data, though the proximity of the May-18 federal election looks to have […]
The Dollar picked up demand after seeing fresh lows against a number of currencies. The narrow trade-weighted USD index was near net unchanged, at 97.53, heading into the New York interbank open having earlier printed a six-day low at 97.39. EUR-USD concurrently sank back under 1.1200 after earlier pegging a three-session high at 1.1218.
OVERVIEW The greenback remains subdued as the market waits for US-China trade talks to progress GBP/USD trades with a slightly negative tone ahead of new Brexit developments NYMEX WTI crude oil resumes slide and is down 1% on the day
The Yen rotated higher as a risk-off sentiment prevailed in early-week trading after President Trump twittered-threatened China that the U.S. will high tariffs on $200 bln worth of Chinese goods this week and target hundreds of billions more soon. This sent stock markets tumbling, led by a 5.8% rout of China’s CSI 300 index. S&P […]
A risk-off theme took a grip in markets, which underpinned the Yen. Conditions were thin with London markets closed for a UK public holiday. The Japanese currency rotated higher during the Tokyo session as stock markets tumbled after President Trump twittered-threatened China that the U.S. could hike tariffs on $200 bln worth of Chinese goods […]
OVERVIEW The Dollar Index is up 0.2% on a light economic calendar EUR/USD is searching for a new direction, consolidating around the symbolic 1.12 level NYMEX WTI crude oil bounced off the $60 a barrel mark but remains under pressure
OVERVIEW The US Dollar Index moved higher after non-farm payroll data (263,000 jobs created) exceeded market expectations of 181,000 The Euro dropped below the key 1.12 rate as the euro bloc coming to a stall NYMEX WTI crude oil resumes its slump, approaching key $60 a barrel
The Dollar turned briefly higher in N.Y. on Friday, taking a knee-jerk jump higher following the much better non-farm payrolls print. A miss in hourly earnings and average earnings however, saw yields pull back, and the Greenback correct lower as well. In addition, a drop in the services ISM weighed on the USD. The DXY […]
The Dollar rallied modestly in N.Y. on Thursday, with fallout from Fed chair Powell’s “transitory” inflation comment on Wednesday supporting Treasury yields and the Greenback. The DXY made its way to 97/85 highs from opening levels of 97.59. Incoming data were mildly supportive, with jobless claims a bit higher than expected, while Q1 productivity was […]
The Dollar has remained underpinned amid expectations for a solid U.S. April employment report later today, while the Australian and New Zealand Dollars underperformed as market anticipate that both the RBA and RBNZ will cut interest rates at their respective May policy meetings next week. The Euro, meanwhile, also remained a target of dollar bulls, […]
The Dollar has remained underpinned amid expectations for a solid U.S. April employment report later today, while the Australian and New Zealand Dollars underperformed as markets anticipate that both the RBA and RBNZ will cut interest rates at their respective May policy meetings next week. The Euro, meanwhile, posted fresh lows against a number of […]
OVERVIEW The US dollar is trading flat relative to other G10 currencies GBP/USD keeps a strong tone against the greenback, trading near new 10-day high WTI crude oil is supported at $64 a barrel with risks brewing in Venezuela HIGHLIGHT The British Pound is trading near a new 10-day high against the greenback buoyed by […]
The Dollar ended higher in N.Y., but lost ground ahead of the FOMC on the back of softer manufacturing ISM and construction spending data. The Greenback did not get much of a bounce from the better ADP jobs report, as traders played defense ahead of the Fed. After the FOMC announcement, the Dollar chopped around […]
The Dollar saw a rotation higher after initially dipping on a dovishly interpreted FOMC statement, picking up after Fed Chairman Powell cited possible transitory factors behind the current lower than trend inflation. Powell also said global growth and Brexit risks have dissipated. EUR-USD fell from a post-Fed statement high of 1.1264 to a post-Powell low […]
The Dollar has consolidated after rallying late yesterday on the back of Fed Chairman’s hawkishly interpreted remarks, where, to recap, he cited possible transitory factors behind the current lower than trend inflation while adding that global growth and Brexit risks have dissipated. EUR-USD consolidated lower, near 1.1200, following the dive from yesterday’s post-Fed statement high […]