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OVERVIEW Brexit continues to give currency investors the jitters. China states it will be would be open to buying US agricultural products, giving new hope of more positive trends to come in US-China trade talks The euro, yen and Canadian dollar are only making modest gains as the USD succumbs slightly to pressure. HIGHLIGHT Play. Read more
OVERVIEW Brexit continues to give currency investors the jitters. China states it will be would be open to buying US agricultural products, giving new hope of more positive trends to come in US-China trade talks The euro, yen and Canadian dollar are only making modest gains as the USD succumbs slightly to pressure. HIGHLIGHT Play. Read more
The dollar took a turn lower concomitantly with news, via Bloomberg sources, that China is open to agree a partial trade deal despite the U.S. blacklisting of Chinese organisations. This saw some unwinding in risk-on position as stock markets in Europe rallied. Read more
The Dollar index rallied to one-week highs in N.Y. on Tuesday, topping at 99.21, and up from 98.86 lows seen immediately following the much cooler than expected U.S. PPI outcome. Safe-haven flows into the USD stepped up following the U.S. blacklisting several Chinese tech companies, blamed for facilitating human rights abuses in China's Xinjiang region. Read more
The dollar has been trading mixed, losing ground to the yen and euro while gaining versus an underperforming pound and the dollar block currencies, which drafted lower as risk appetite dropped away during the European morning session. The yen's habit of inversely tracking stock markets has been on full display today, falling as stocks rose in Asia, where Chinese markets reopened after a week-long hiatus, before firming back as European stock markets turned lower. Read more
The yen has softened concomitantly with a rise in equity markets in Asia amid cautious risk-on positioning. Chinese markets reopened after a week-long hiatus, and its CSI 300 equity index was showing a 0.9% gain as of the time of writing, while Japan's N-225 closed with just over a 1% gain and Australia's ASX 200 with a 0.5% rise. Read more
FX trade was quiet in N.Y. on Monday, with major Dollar pairings sticking to narrow ranges. There was no data to move the markets, though comments from White House adviser Kudlow helped USD sentiment when he said the U.S. is open to a short term trade deal with China. Read more
The dollar has been trading on a steady-to-firmer footing, seeing modest gains versus the euro and more pronounced 0.5% advance against the Australian and New Zealand dollars. The yen outperformed, albeit moderately so, which weighed on USD-JPY a little, while AUD-JPY saw losses of over 0..6%. Read more
AUD-JPY declined as a risk appetite waned, with the good vibes of Friday failing to transfer to Asian markets today, where stock markets continued a sputtering price action (note, Chinese markets are still closed, will reopen tomorrow). A Bloomberg report cited Chinese officials saying that they are increasingly reluctant to agree to a broad trade deal, strengthening market narratives that have been arguing that a limited, and possibly term-limited, trade deal is the most realistic outcome given the course of strategic disengagement that both sides seem to be on. Read more
The Dollar had a rough week, as softer U.S. data weighed broadly. Friday's jobs report was better than some had expected, though following a brief bounce, the DXY slipped back toward lows of the week. The market has about 100% priced in an October rate cut, which should continue to see the USD struggle going forward. Read more
