27th January – Daily Market Review

The dollar edged higher against the euro on Thursday after data showed the U.S. economy maintained a strong pace of growth in the fourth quarter, backing the case for the U.S. Federal Reserve to maintain its hawkish stance for longer. Gross domestic product increased at a 2.9% annualised rate last quarter, the Commerce Department said in its advance fourth-quarter GDP growth estimate. The economy grew at a 3.2% pace in the third quarter. Economists polled by Reuters had forecast GDP rising at a 2.6% rate. A separate report from the Labor Department showed

26th January – Daily Market Review

The dollar held close to an eight-month low against its peers on Thursday, as a gloomy U.S. corporate earnings season stoked recession fears and as traders stayed on guard ahead of a slew of central bank meetings next week. Trading was thin, with Australia out for a holiday and some parts of Asia still away for the Lunar New Year. Downbeat earnings and guidance from U.S.

25th January – Daily Market Review

The dollar edged lower against the euro on Tuesday after data showed euro zone business activity made a surprise return to modest growth in January, while U.S. business activity shrank for a seventh straight month. While U.S. business activity shrank in January, the downturn moderated

24th January – Daily Market Review

The dollar started the week testing a fresh nine-month low as market participants bet on the U.S. Federal Reserve trimming the size of its interest rate hikes for a second straight meeting in February. Fed officials are entering the ‘quiet period’ before their policy meeting on February 1st,

23rd January – Daily Market Review

The euro scaled a nine-month high on the dollar on Monday as more hawkish comments on European interest rates contrasted with market pricing for a less aggressive Federal Reserve. It was aided by European Central Bank (ECB) governing council member Klaas Knot, who said interest rates would rise by 50 basis points in both February and March and continue climbing in the months after. Knot is considered a hawk among poli

20th January – Daily Market Review

The dollar slid on Thursday in choppy trading, as a slew of data continued to show that the U.S. economy was slowing down in the wake of multiple hefty interest rate hikes from the Federal Reserve, with the market anticipating a pause in tightening this year. The yen, on the other hand, rallied due in part to expectations that the Bank of Japan (BOJ) will eventually shift away

19th January – Daily Market Review

Most Asian currencies retreated on Thursday as weak U.S. economic data pushed up fears of a potential recession, while the Japanese yen recouped most of its recent losses on speculation that the Bank of Japan may yet increase its yield control range. The currency had plummeted as much as 2.5% on Wednesday after the BOJ unexpectedly maintained its current course of yield curve control. But speculation that rising inflation will push the bank into eventually altering its ultra-loose policy saw the yen recover sharply from intraday lows. Columbia University academic Takatoshi Ito, who is considered to be a candidate to join the BOJ, said on Thursday that hotter-than-expected inflation could

18th January – Daily Market Review

Japan’s yen, long favoured as a safe-haven and funding currency, has in recent weeks become so enmeshed in market speculation over central bank policy that Wednesday’s decision to retain the status quo set off the steepest yen fall in nearly three years. The yen dropped more than 2% after the Bank of Japan sai

17th January – Daily Market Review

he dollar drifted above multi-month lows on Tuesday, while the yen was perched near seven-month highs as investors held their breath for a potential policy shift at the Bank of Japan. The yen hit a top of 127.22 per dollar during Asia hours on Monday, before steadying around 128.69 on Tuesday. Options trade shows a market braced for sharp moves wh

16th January – Daily Market Review

The dollar fell to a seven-month low against major peers on Monday while the yen surged to an over seven-month peak, as traders ramped up bets that the Bank of Japan may make further tweaks to its yield control policy at its meeting this week. With decades-high inflation in the world’s largest economy showing signs of cooling, investors are now growing i