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The dollar traded moderately firmer heading into the London interbank open, led by a 0.3% gain in USD-JPY, which logged a three-week high just shy of 110.50. Yen crosses also firmed up, reflecting broader softness in the yen as safe haven premiums unwound amid a caution sense of optimism in global markets about the Trump-Kim summit, which has just ended. Read more
OVERVIEW Markets are in an upbeat mood as Trump and Kim prepare to meet in Singapore. UK data suggests the economy is still struggling for momentum. Big week ahead with Fed and ECB meetings. Canadian Dollar under pressure after G7 row. Turkey's economy surges in Q1 despite weak currency and surging borrowing costs. HIGHLIGHT The Euro rose back above 1.18 versus the US Dollar after Italy's new Economy Minister, Giovanni Tria, said yesterday that the new coalition government has no intention of leaving the Euro and plans to focus on cutting debt levels. Read more
The dollar has traded mixed, and currencies were more generally settled after an initial jolt in early Asia-Pacific trading after the weekend dramatics of President Trump's refusing to sign off on the G7 communique. The biggest mover in early trade was a sharp dip in the Canadian dollar. Read more
Currencies settled after an initial jolt in early Asia-Pacific trading after the weekend dramatics of President Trump's refusing to sign off on the G7 communique. A cautious calm subsequently prevailed, with stock markets lifting out of lows and the yen unwinding some of its safe haven premium. Read more
May data consisted of a strongly positive ISM services index. April data included a decline in factory orders, but an increase in both wholesale sales and inventory. The April JOLTS report included record high job openings, and an increase in both actual hires and quits. Read more
FX trade was quiet in N.Y. to end the week, with the DXY slipping modestly from 93.82 to 93.52 lows. There was little data to drive the FX market, and activity was largely a function of pre-weekend positioning. EUR-USD ranged between 1.1737 and 1.1778, while USD-JPY peaked at 109.60, before bottoming at 109.34. Read more
OVERVIEW Canadian Jobs Data is soft with unemployment rate steady at 5.8%. G7 gets underway with trade tensions served hot. DXY Index up near a two-day high. WTI Oil Futures flat near $66.00 a barrel after touching an 8-week low. HIGHLIGHT The South African Rand dropped to a 6-month low as the emerging-market currency continues to be under pressure. Read more
The dollar has traded mixed, gaining on the euro and underperforming dollar bloc currencies, and to a less extent the pound, while losing ground to the outperforming yen. A risk-off vibe in global markets as markets fret that the weekend's G7 meeting, which will start later today in Canada, will magnify the prevailing discord over trade between the U.S. Read more
The dollar has been trading mixed amid a worsening risk-off tone in global markets, losing ground to the yen while gaining against the euro and dollar bloc currencies. Market participants are wary about the G7 meetings in Canada, which will start later today, and which seems to be mostly seen as a risk event give the escalating hostility over trade. Read more
The dollar chopped around inside of relatively narrow ranges in N.Y. on Thursday, seeing the DXY range between 93.47 and 93.25, before settling near 93.40, about where it opened. EUR-USD opened at its highs at 1.1849, before printing 1.1799 lows, and settling over 1.1810. Read more
