Global markets have steadied heading into US session, with equity futures pointing to a flat open after yesterday’s strong rally. Early optimism from Japan and Europe faded through the day, leaving investors cautious but not materially risk-off. The backdrop is one of consolidation rather than clear direction. US jobless claims delivered a notable surprise, falling […]
Dollar attempted a mild recovery in Asia today, but the uptick lacked conviction and failed to alter the broader picture of USD underperformance. The greenback remains the weakest major this week, with selling pressure intensifying after Wednesday’s sharp drop in ADP employment that reinforced concerns about labor-market deterioration. Expectations for a 25bps Fed cut next
Dollar selling intensified again in early US session after another weak ADP employment report, marking the fourth decline in private payrolls over the past six months. The series of negative prints is now being viewed as a clear sign of deterioration in the labor market, prompting markets to extend their bearish repricing of the greenback
Risk sentiment was mixed in Asian trading today. The Nikkei outperformed thanks to a rebound in SoftBank and renewed enthusiasm for tech and AI names, but the index failed to break back above 50,000 psychological level—highlighting lingering hesitation among investors despite the intraday gains. Outside Japan, the tone was considerably weaker, particularly in Hong Kong,
Market sentiment steadied across Asia today, with most assets drifting in tight ranges after Monday’s volatility. The overnight selloff in the US was modest, and fears that Japan-led risk aversion would spill aggressively into global markets did not materialize. While pockets of unease lingered—particularly in the tech space following Bitcoin’s slump—the broader tone has remained
Dollar fell broadly today, though the move lacked a clear single trigger. Fed expectations barely shifted, with December cut bets ticking up only marginally to 87%, not meaningfully different from last week. US yields were also steady to firmer, with 10-year Treasury yields recovering back above the 4% mark, offering no obvious impetus for a
Risk aversion returned to Asia at the start of December, lifting Yen sharply across the board. The shift in sentiment coincided with a notable surge in Japanese government bond yields, with the 10-year jumping nearly 0.07 and breaking above 1.87%, its highest level in more than 15 years. . A key catalyst was Governor Kazuo
Markets were broadly quiet today as holiday conditions dominated trading, with liquidity thinning further after a major technical issue at the Chicago Mercantile Exchange brought several platforms to a halt. The CME said trading had come to a standstill due to a cooling problem at one of its data centers. The outage affected Globex futures
Japan’s data releases were surprisingly strong today, with both industrial output and retail sales showing impressive gains. Combined, they paint a picture of an economy that is slowly regaining momentum on both production and consumption fronts. Yet the Yen remains notably weak, failing to capitalize on the firmer-than-expected numbers. One of the key constraints remains
Trading turned subdued as markets moved into the U.S. session, with activity expected to slow further as Thanksgiving approaches. Liquidity conditions were already thinning in early trade, and the muted tone across majors reflects a market unwilling to take fresh positions before the long weekend. Despite the quieter backdrop, broader directional themes remain unchanged. Dollar
Risk-on sentiment extended through Asian session, from intensifying bets on December Fed rate cut. The shift in sentiment sent US stocks higher overnight, and pushed 10-year yield briefly below 4% handle. Kiwi and Aussie are the biggest beneficiary of this backdrop, with both additionally supported by domestic developments. Kiwi is the standout performer as markets
Dollar is trading on the back foot today as markets add to bets on a December Fed rate cut, extending the repricing that began late last week. The shift was triggered by New York Fed President John Williams, who surprised markets last Friday by saying he sees room for a further “near-term adjustment,” reversing the
Asian trading has been subdued with Japan on holiday. Yen’s sharp rebound at the end of last week has failed to extend, with the currency losing energy amid a lack of fresh catalysts. The pause reflects an uneasy balance. While some investors expect further corrective strength, broader policy expectations continue to lean against the Yen.
Global markets closed last week on an uncertain footing. While bears appeared to have an upper hand, the control was never firmly gripped. Conviction was relatively thin as traders were reluctant to commit decisively. The overall impression was of markets still searching for a coherent theme to latch onto. Equities in major centers reflected the
New York Fed President John Williams delivered the day’s biggest surprise, signaling that he sees scope for another rate cut in the near term. As head of the New York Fed — a permanent FOMC voter and a traditional bellwether for committee consensus — his comments dramatically shifted the policy conversation. Only yesterday markets were
Commodity currencies came back under pressure today as the burst of Nvidia-driven optimism evaporated almost as quickly as it arrived. After a strong start, major U.S. indexes staged a staggering reversal and closed sharply lower — marking the biggest midday turn since April. What triggered the shift remains unclear, but the message from markets was
The services sector in Japan continued to expand in November, and at a steady pace, the latest survey from Jibun Bank revealed on Friday with a services PMI score of 53.1. That’s unchanged from the October reading and it remains above the boom-or-bust line of 50 that separates expansion from contraction. The survey also said
