• Add
    Company

Dollar Lower In Steady Markets

Rakuten Securities Australia

As the title line says it was a pretty steady day for financial markets yesterday with little in the way of headline moves to captivate traders, the dollar is back off to lower levels after having had a strong last few days and once again the equity markets had a mixed day, but there was little excitement across the markets. UsdJpy was probably the main mover on the day as it came off nearly 100 pips in line with the general dollar sentiment and the much observed US 10yr yields. The Cad also had a lot of focus as Canadian Retail Sales came out a lot worse than expected leading to some downward pressure on the loonie.

Looking ahead to today’s session and it looks like we’re in for more steady trading conditions, we’ve already had a stronger print in NZ for the Retail Sales data but it’s failed to inspire the Kiwi too much. There is nothing else due in the way of fundamental economic data in Asia today and it’s a similar story in the London time zone. Things could get interesting later in the day as we move towards the weekend and liquidity starts to lessen as we have the Canadian CPI numbers due and then a slew of Fed members due to speak. I expect the to stay in line with most of the rhetoric we’ve heard recently but the risk will sit with the downside for the dollar if any sound more dovish than we expect.

Subscribe to RSA's FX Insight and get access to our daily market commentary.

If you have any questions or queries, please contact the team at info@sec.rakuten.com.au or visit our website.

Rakuten Securities Australia Review

Source: https://sec.rakuten.com.au/?post_type=fx_insight&p=1690&preview=true
Disclaimer
!"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|} !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}