Aussie Tops on Risk-On Wave and China Trade Boost, Dollar in Limbo Before NFP

Range trading continues in most major pairs and crosses for the week so far. Dollar’s selloff was relatively short-lived overnight, as US stocks retreated rather deeply after initial rally. There is sign of profit-taking in equities, which could curb any selling pressure in the greenback in the near term. However, Dollar’s next move remains contingent […]

Canadian Dollar remains the weakest performer for the week at this point. Yet, losses is so far contained, with the recovery after the brief selloff following BoC’s rate cut overnight. While further cuts are anticipated within the year, the likelihood of another immediate adjustment in July is currently seen as unlikely , with market odds […]

Japanese Yen mounted a strong comeback in Asian session today after initial dip through 160 psychological support against Dollar. While the moves are exaggerated by today’s thin trading volumes due to public holiday in Japan, the strong rebound is marked by widespread squaring of short positions. Traders are clearly on guard against intervention by Japanese […]