Japanese Yen Extends Losses Against Dollar

The yen continues to lose ground against the US dollar. Earlier in the day, the yen weakened to 143.18, its weakest level against the US dollar since July 7th. The yen has plunged 370 basis points since Friday when the Bank of Japan stunned the markets and tweaked its yield control (YCC) policy.

AUDUSD Tumbles and Revisits the Low of July 28

AUDUSD tumbled on Tuesday after the RBA decided to refrain from lifting interest rates, with the pair falling all the way down to the low of July 28 at around 0.6620. Overall, the price structure remains of lower highs and lower lows below the downtrend line drawn from the peak of July 14, which keeps […]

Sunset Market Commentary

The above was the setting markets found themselves in going into the publication of the US manufacturing ISM for July and the JOLTS report for June. Both came in slightly below expectations. Job openings still stand at a historically elevated 9582k vs 9600k expected and down from 9824k the month before.

Can Nonfarm Payrolls Reawaken the US Dollar?

The latest edition of nonfarm payrolls will be released at 12:30 GMT Friday. Early indicators point to another solid employment report, which would reaffirm that the US economy remains far stronger than its competitors. This strength has not been reflected in the dollar lately, as other central banks raced ahead of the Fed in raising rates, although this dynamic seems to be changing. 

US: Manufacturing Sector Activity Continued to Soften in July   

The July ISM Manufacturing Index registered 46.4, a slight improvement over June's 46.0 reading but short of the firming to 46.9 markets had expected.

NZ First Impressions: Labour Market Update, June Quarter 2023

While employment growth was stronger than the RBNZ had expected, developments in both the unemployment rate and wages will likely leave the Bank comfortable with the broad story underpinning the projections in the May Monetary Policy Statement.

Fitch's Decision Unnerves Asian-Pacific Traders

Fitch’s decision unnerves Asian-Pacific traders. In an echo to 2011, risk assets drop but ironically USTs show resilience. US yields gapped lower at the open before paring some of the losses, in longer tenors especially. Japanese stocks underperform with the Nikkei losing 2.5%. In currency markets, the euro is topping the G10 leaderboard, eking out a small gain against the dollar as well.

Japanese Yen Gain Rebounds after Dovish Remarks from BoJ

The Japanese yen has reversed a nasty three-day slide on Wednesday. In the European session, USD/JPY is trading at 142.75, down 0.40%.

New Zealand Dollar Sinks After Soft Jobs Report

The New Zealand labour market has been tight, despite aggressive tightening by the Reserve Bank of New Zealand. Wednesday’s employment report for the second quarter showed some softening, which has extended the New Zealand dollar’s losses.

Major Crypto Market Players Try to Regain Buyers' Trust

Bitcoin fell to $28.6K on Tuesday, hitting lows since June 21 amid market concerns over the Curve Finance hack and a likely drop in liquidity on the AAVE platform. The first cryptocurrency experienced impressive upward momentum, touching $30.0K early Wednesday morning. Although we do not see the realisation of a rapid decline scenario, for Bitcoin now, the 50-day moving average plays the role of resistance. The chances of a rapid decline will increase sharply with Wednesday’s close below $29.2K.