There was no single, dominant theme in currency markets last week. Instead, price action reflected a mix of cross-asset divergences. Dollar ended as the worst performer, despite the fact that Fed expectations barely shifted following high-profile releases of non-farm payrolls and CPI. Meanwhile, US Equities experienced volatility, particularly around renewed AI disruption fears, yet there […]
January’s highly anticipated US non-farm payroll report delivered a decisive upside surprise, with job growth nearly doubling expectations and marking the strongest monthly gain since mid-2025. The data decisively push back against recent concerns that the labor market was deteriorating rapidly. Rather than rolling over, hiring appears to be regaining momentum at the start of
Dollar stayed heavy in early US trade, but muted price action suggested there was little reaction to the disappointing retail sales data. Elsewhere, conditions were also listless. US stock futures edged sideways and broader risk sentiment stayed calm. While the retail sales miss was discouraging, traders appear content to hold positions steady. Attention remains firmly
Dollar is softer across the board today as its recent rebound appears to be losing momentum. The move lacks a single defining trigger, instead reflecting a convergence of sentiment shifts and near-term positioning adjustments. One important backdrop is the stabilization in risk appetite. After markets spent much of last week grappling with AI-related disruption fears
US President Donald Trump today finally named former Fed Governor Kevin Warsh to succeed Jerome Powell as Fed Chair, bringing an end to a prolonged and unusually turbulent succession process. Trump praised Warsh publicly, calling him a future “great” Fed chairman and signaling confidence in his leadership. The announcement removed a major overhang for markets
Dollar found modest support in early US trading, managing a mild recovery as markets position cautiously ahead of the Federal Reserve’s rate decision. The move looked more like a pause in selling than a decisive shift in sentiment, with traders reluctant to press positions before policy clarity. Some stabilization came after comments from US Treasury
The brief reprieve for Dollar has already faded. As markets move into the US session, the greenback is once again under broad selling pressure, undoing the tentative stabilization seen earlier and returning to a defensive footing. There is little in the way of fresh fundamental catalysts today. Instead, the renewed pressure appears to reflect positioning
The forex market has finally slipped into a period of stabilization, with Dollar shifting into consolidation after several volatile sessions. All major pairs and crosses are trading within yesterday’s ranges, signaling a collective pause. Part of the calm reflects a temporary cooling in geopolitical and trade-war rhetoric. Recent fears of an imminent joint US–Japan intervention
Dollar remains generally weak as markets move into the early US session, even though outright selling pressure has eased slightly. The slowdown, however, looks more like consolidation than recovery, with the greenback still exposed to fresh political and policy risks. That vulnerability follows an already bruising period marked by renewed transatlantic trade tensions and the
Greenland dominated global headlines today as geopolitical risk surged back into focus. What had previously looked like an unusual diplomatic dispute escalated sharply over the weekend, forcing markets, governments, and corporates to reassess transatlantic relations and the risk of renewed trade war. The escalation followed a pledge by US President Donald Trump to impose 10%
Dollar gyrates in a tight range and remains an underperformer for the week, showing little reaction to December US consumer inflation data. With no meaningful downside surprise in the data, inflation figures effectively cemented expectations for a policy hold by the Fed at its upcoming meeting. Futures now assign around 95% probability that interest rates
News of a US criminal investigation into Fed Chair Jerome Powell dominated global financial headlines, injecting a fresh dose of political risk into markets. While the investigation itself was unsettling, the sharper jolt came from Powell’s unusually direct response, which framed the episode as part of a broader campaign to pressure the central bank. In
Market conditions have settled after earlier risk-on moves, with European indexes and US futures showing little direction. The absence of follow-through buying suggests traders are shifting toward more cautious trading. With desks fully staffed again, attention is turning to Friday’s December US non-farm payrolls report. Dollar remains broadly on the back foot and will be
Forex markets are trading in mixed fashion, with hesitant tone, as investors continue to digest the controversial US seizure of Venezuelan President Nicolás Maduro over the weekend. While geopolitical risk has clearly entered the equation, price action suggests the response is far from a textbook risk-off move. There are visible safe-haven bids flowing into Dollar
There is little on the economic calendar for the final week of the year, leaving Fed minutes from the December meeting as the lone focal point for markets during the New Year holiday stretch. The minutes are expected to shed light on the internal debate that produced a rare three-way split. Chicago Fed President Austan
The past week delivered no shortage of surprises, yet markets ended it with remarkably little conviction. Key macro data and central bank decisions challenged prevailing assumptions, but follow-through across major assets proved elusive. US economic releases hinted at a faster cooling in both employment and inflation. Under normal circumstances, that combination would have fueled enthusiasm
Dollar ended last week broadly lower, outperforming only the even more beleaguered Yen. That said, the technical deterioration in Dollar is still measured rather than decisive. For now, Dollar’s selling momentum reflects hesitation more than capitulation. Two key forces are shaping this fragile balance. The first is indecisive risk sentiment, which remains unsettled rather than
