Fundamental view: US dollar traded low against the Japanese yen during the trading course of the week. Discovery of coronavirus new variant Omicron created sour market sentiment. This might have created risk aversion market sentiment, in turn favoring the safe haven - Japanese yen. Omicron case reports began to arise from various countries and US [...]
Fundamental view: The British pound traded downside against the greenback. Fed’s Hawkish stance and Omicron variant worries seem to favor the US dollar. The Fed had signaled that it is ready to accelerate its tapering process. A faster reduction of bond-buys implies borrowing costs would move higher earlier than expected, perhaps in May. This hawkish [...]
Fundamental view: The Euro traded high at 1.1382 but failed to retain its gains and fell to 1.1266 at the week end. A number of factors lead to the sour market sentiment this week. The newly discovered coronavirus variant named Omicron was the first factor in this regard, South Africa reported it on November 25, and the [...]
Kiwi trades low against the greenback during Friday early session. This move can be related to the release of China’s Caixin PMI data. The kiwi also shows the sour market sentiment, as well as reacts to the softer data and the Nonfarm payroll data. China’s Caixin Services PMI for the month of November came below [...]
