Dollar strength faded mildly after the stronger-than-expected U.S. non-farm payroll report, as traders showed little appetite to extend the post-data rally. The muted reaction reflects a market that had already repriced aggressively after yesterday’s hawkish FOMC minutes, which pushed expectations for a December rate cut sharply lower. In that sense, much of the adjustment had […]
Investor sentiment turned decisively positive in Asian markets today, even as traders continued dialing back expectations for a December Fed rate cut following the hawkish tone in FOMC minutes released overnight. The shift in rate expectations would normally pressure risk assets, but momentum instead swung in the other direction thanks to a powerful catalyst out
Yen’s selloff accelerated again today despite repeated warnings from top Japanese officials that they are monitoring FX markets with a “strong sense of urgency.” The latest remarks came after Finance Minister Satsuki Katayama met BoJ Governor Kazuo Ueda and Economic Revitalisation Minister Minoru Kiuchi, where all sides reaffirmed their commitment to the 2013 joint agreement
Risk-off sentiment continues to drive global markets this week, but the traditional safe-haven Yen is gaining little traction from the turbulence. The currency’s inability to capitalize on the broad defensive tone reflects an overriding theme: expectations that the BoJ’s long-awaited rate hike will be pushed back once again. Political pressure from the new government has
The value of core machinery orders in Japan was up a seasonally adjusted 4.2 percent on month in September, the Cabinet Office said on Wednesday – coming in at 927.8 billion yen. That beat expectations for an increase of 2.3 percent following the 0.9 percent decline in August. On a yearly basis, core machinery orders
Global markets remain under pressure today as risk sentiment deteriorates further across regions. Europe opened firmly lower, tracking the broad declines seen earlier in Asia, while U.S. futures point to another weak session. Today’s tone is one of cautious de-risking, with markets showing little appetite to buy dips ahead of several major event risks. Technology
Swiss Franc and Yen led the forex board in Asian session today, buoyed by a fresh wave of risk aversion. U.S. equities closed notably lower overnight, with pressure concentrated once again in AI-linked megacaps. The weakness spilled quickly into Asia, lifting traditional safe havens and putting renewed strain on high-beta currencies. Nvidia fell around 2%
Sterling is outperforming in otherwise quiet trading, reversing some of the weakness seen late last week. The Pound and UK bonds were pressured after reports that Chancellor Rachel Reeves had opted to drop tax hikes from next week’s Autumn Budget, a shift that raises fresh questions about the UK’s fiscal shortfall. Today’s recovery in Sterling,
Sentiment in Asian markets started the week on the softer side, though the pullback has been well contained so far. The tone was more cautious than negative, with investors reluctant to take strong positions ahead of a busy global data schedule and the return of U.S. macro releases. The dominant theme is anticipation. With U.S.
Japan’s gross domestic product contracted a seasonally adjusted 0.4 percent on quarter in the third quarter of 2025, the Cabinet Office said on Monday – following the upwardly revised 0.6 percent expansion in the previous three months (originally 0.5 percent). On an annualized basis, GDP was down 1.8 percent following the upwardly revised 2.3 percent
Last week delivered what should have been a moment of relief for global markets: the US finally ended its historic government shutdown, clearing the way for normal economic data flow to resume. Yet instead of sparking a rally, the reopening brought little comfort. U.S. assets struggled across the board. Equities came under pressure as investors
Japan’s tertiary activity index increased for the third straight month in September, according to data from the Ministry of Economy, Trade, and Industry on Friday. The seasonally adjusted tertiary activity index rose 0.3 percent on a monthly basis, following a 0.1 percent increase in August. Among the individual components, transport and postal activities, utilities, real
The forex markets were broadly indecisive today, with major currencies struggling to find convictions in their movements. Sterling initially fell after weaker-than-expected Q3 GDP print but the decline proved short-lived. The markets appeared to have already priced in a December BoE cut following earlier labor data. Instead, the focus has shifted toward the pace of
Australian Dollar strengthened broadly in Asian session today after stronger-than-expected October employment report reinforced confidence in the resilience of Australia’s labor market. The robust job data numbers confirmed that while the labor market is cooling, the adjustment is happening only gradually. The results also vindicated RBA Governor Michele Bullock’s view that September’s weak figures were
Nomura eyes FRTB models expansion for FX desks – FX Markets Skip to main content End of drawer navigation content With rates desks all now on FRTB internal models, markets head says FX is next Nomura is looking to gain approval to use internal models to calculate its foreign exchange desks’ capital requirements under new
Japan’s machine tool orders increased for the fourth straight month in October, preliminary data from the Japan Machine Tool Builders Association, or JMTBA, showed on Wednesday. Machine tool orders climbed 16.8 percent annually in October, faster than the 11.0 percent rise in the previous month. The expected increase was 9.9 percent. Foreign orders logged a
Yen extended its broad decline in Asian session as Japanese Prime Minister Sanae Takaichi doubled down on her call for the BoJ to delay further rate hikes. Addressing parliament, Takaichi said consumer prices—up around 3%—are being lifted mainly by food costs, particularly rice, rather than by wage growth or strong demand. She described the current
