Perhaps surprisingly, the top performing major currency this year has been AUD. This has taken place despite a major selloff in global stocks, a still relatively dovish RBA and general broad dollar strength. But it is the very strong bid …
The euro didn’t receive a lot of love from a record inflation print this morning. The region looks to be heading into potential stagflation – where growth slows while price pressures increase ever higher. Economists reckon headline CPI could rise …
The Bank of Canada is fully expected to raise rates by 25bps for the first time in this tightening cycle at its meeting tomorrow. Of course, increased geopolitical risk following the Russian offensive into Ukraine will loom over policymakers’ decision …
GBP had held up quite well in the current risk-off environment. But Thursday’s events saw a sharp downturn enhancing its status as a more-risk sensitive currency. Surging gas and energy prices will no doubt push the Bank of England towards …
Russia’s offensive in Ukraine continues into a second day and has seen a classic investor demand for safe haven currencies. The yen and dollar have been bid, even though we have seen some fading of yesterday’s gains. The about-turn on …
The dollar is showing off its safe haven characteristics today, especially against the European majors. The risk backdrop is very grim and the flight to quality is in full effect as the yen, swissie and gold among other assets, outperform …
EUR/CHF has become something of a risk sentiment gauge in Europe due to its high exposure to the Russia-Ukraine crisis. The market is trying to understand the ongoing impact of the Russian escalation as the West “keeps it powder” in …
It’s been all change for the kiwi since we wrote about it just a week ago, when price action looked to be rolling over. The widespread deleveraging in equity markets and risk in general has not hit pro-growth currencies, like …
USD/CHF falls to one-month low and 200-day SMA This major has been trading a fairly random fashion over the last several months. Highs have not been sustained much above 0.9274, while 0.91 has more or less capped the downside. The …
Markets are in zig-zag mode as random geopolitical headlines determine near-term price action. Safe havens currently battle with more pro-cyclical, growth currencies, but we may not know who wins for some time as skirmishes and diplomatic noises potentially come to …
