USDCHF kicks off the week with fresh supply.
“Strong sell off kick starts the week for greenback as sentiment is geared towards other assets in the market.” US dollar opened the week with strong supply, touching multi months low as market mood remains geared towards risky assets. While last week’s Nonfarm Payrolls report came in better than expected, it has failed to boost View more
EURUSD towed to the south as data remain depressed.
“Holiday season failed to boost Germany’s consumer spending; towing euro lower.” Euro head towards the south soon after Germany released their economic data which may point towards depressed conditions. For November, both Retail Sales and Factory Orders underperformed even though the country is heading towards the holiday season. Likewise, US ADP latest report shows strong View more
Nasdaq oscillates in a range, waiting for further signal.
“Nasdaq thread water as the market waits for more signals from Federal Reserve.” Nasdaq remains muted following the resumption of trading while investors await more market signal from Federal Reserve. Likewise, worries over China’s economic slowdown continues to weigh on global sentiment as recent boom in Covid cases may bring significant impact over consumer spending View more
S&P500 tunnels through as recession risk rises.
“Inflation continues to stay stubbornly high, further interest rate hike prompt recessionary risks.” S&P500 notched in its worst slide since 2008 as the index fell more than 1% due to selloff on technology, energy, and industrial stocks. Sentiment among investors remain bleak as Federal Reserve continues its fight against stubbornly high inflation since early this View more
Could GBP reject the bearish temptation?
“US posted positive developments in terms of labour market, prompting a shift in market sentiment.” GBPUSD surrendered its gains, sliding down towards multi weeks low after latest data from US lends some support to greenback. According to reports, the number of unemployment benefits filing increased less than expected, signalling tight labour market with more room View more
USDCHF rides low, US data in focus.
“US dollar at the brink while traders turn to risky assets.” US dollar edges lower as traders begin to seek for risky assets, forcing USDCHF to slump lower into the oblivion. The currency took yet another step back even as US consumer Confidence rose to an eight-month high for December. Later today, all eyes will View more
Bulls on EURJPY frightened as BoJ announces surprise tweak.
“Bank of Japan’s latest announcement continues to ripple through the market for second day.” Japanese yen extended its gains for the second day after Bank of Japan announced a surprise move during its policy meeting. On Tuesday, Bank of Japan decided to tweak its yield curve by allowing long-term yields move 50 basis points either View more
NZDUSD towed by bears after business confidence slump further.
“Latest economic data form New Zealand pose worrisome outlook for investors.” NZDUSD lurked in the lower boundaries, off from recent high due to pessimistic economic data from the region. For December, New Zealand’s Business Confidence plummet to record low of -70, spurred by worries towards possible recession in 2023. Nonetheless, its losses were limited as View more
Recession fear triggers selloff on S&P500.
“US equities suffered from significant selloff as recession fear make a comeback.” S&P500 tanked as recession fears grow due to recent release of retail sales data. According to US Census Bureau, Core Retail Sales shrank by -0.2%, way worst than expectation of 0.2%. At the same time, latest survey from New York Federal Reserve Bank View more
USDCHF relinquished as CPI came in softer than expected.
“Soft CPI data from US may derail bulls as Fed might look into softer approach.” Greenback falls through with USDCHF tanking at eight months low after US releases softer than expected CPI data. According to US Department of Labor, Core Consumer Price Index for November came in at 0.2%, lower than expected reading of 0.3%. View more