Open trading account 
(BS?) report that China is going to consider yuan devaluation as a weapon in a potential trade war sent the dollar higher against commodity currencies. AUD/USD spent the entire last week in a tight (75 pip) range. At the moment, a break to the downside appears more likely. 0.76 - 0.7625 is the initial support.
al_dcdemoのブログ
Yen the most wanted currency this week
U.S. dollar ended the week lower against European currencies and yen, and higher against the commodity bloc. If we look at these currencies from the yield perspective, it was actually a typical risk-off week, albeit with reduced volatility.
Traders buying yen, franc and dollar into the weekend
We have seen some risk-off in the markets today with equity indices and JPY pairs lower. Yen, Swiss franc and U.S. dollar have been the preferred currencies. Latest Brexit poll showed Leave ahead (55% vs. 45%) and that prompted a 150+ pip decline in Cable and a 200+ pip fall in GBP/JPY.
Commodity currencies have continued yesterday's pullback as did the oil while the gold remains supported. Canadian labour market data came in better than expected but the post-release dip was quickly bought into …
Commodity currencies have continued yesterday's pullback as did the oil while the gold remains supported. Canadian labour market data came in better than expected but the post-release dip was quickly bought into …
Positive risk sentiment continues
While commodity currencies already had a great few days, low-yielders such as euro, yen and franc remained supported up until today. Positive risk sentiment finally impacted them as well while the dollar strengthened across the board.
U.S. (Core) Retail Sales and (Core) PPI reports and especially BOC meeting later in the day are definitely factors behind some position adjustments - particularly in commodity pairs which have become a bit extended, technically.
U.S. (Core) Retail Sales and (Core) PPI reports and especially BOC meeting later in the day are definitely factors behind some position adjustments - particularly in commodity pairs which have become a bit extended, technically.
Kiwi still in range but buying pressure noted
It was a good day for commodity currencies and Kiwi was no exception. It rose to the upper extreme of the February range between 0.6550 and 0.6750.
The pair is currently holding above 50, 100, 200 DMA and 2014 - 2015 trendline, which may encourage buyers to lift it above the aforementioned range and towards 0.69 - 0.70 in the days ahead.
The pair is currently holding above 50, 100, 200 DMA and 2014 - 2015 trendline, which may encourage buyers to lift it above the aforementioned range and towards 0.69 - 0.70 in the days ahead.
Carnage after a quiet start
Quiet start to the week turned into carnage soon after European session got underway, led by stock market falls. The selling continued in North American session and, after a small consolidation, overnight.
The greatest beneficiary of safe haven flows has unsurprisingly been the yen, while the euro and the franc have also benefited. Gold rose to the highest in eight months. Cable and commodity currencies lost to various degrees, not least as a consequence of cross pair selling.
The greatest beneficiary of safe haven flows has unsurprisingly been the yen, while the euro and the franc have also benefited. Gold rose to the highest in eight months. Cable and commodity currencies lost to various degrees, not least as a consequence of cross pair selling.
Dollar bears take some profits after the NFP
A weak week for the dollar ended with dollar strength. Despite the miss in the headline non-farm employment number, it was overall a decent jobs and wages report with unemployment down and average hourly earnings up.
Initial response to the report was to sell the dollar but the moves were soon reversed. Commodity currencies were hit the hardest while the yen is poised to close near unchanged for the day as both stocks and oil sold off.
Initial response to the report was to sell the dollar but the moves were soon reversed. Commodity currencies were hit the hardest while the yen is poised to close near unchanged for the day as both stocks and oil sold off.
Fed holds rates
At its two day meeting that concluded yesterday, FOMC decided to leave Federal Funds Rate in 0.0% - 0.25% range. Disinflationary implications of slowing global growth, oil weakness and US dollar strength are the main reasons why the committee stood pat.
The dollar was sold across the board but it retraced most of its losses against the commodity currencies. Euro was the winner of the day as it rose nearly a cent and a half. Swissie and Cable both moved close to 100 pips on the day and Yen about …
The dollar was sold across the board but it retraced most of its losses against the commodity currencies. Euro was the winner of the day as it rose nearly a cent and a half. Swissie and Cable both moved close to 100 pips on the day and Yen about …