Cromwell FX Market View

Strong Energy and Commodities Dominate

The Yen selloff continued through the week as a broader risk on strategy was adopted which spilled over into USD pressure. With little economic announcements the market was left to it’s own devices and the continued strength in energy and commodity prices pushed the main commodity backed currencies higher.  The USD long term strength remains…

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Cromwell FX Market View

NFP disappoint but USD remains in control

Despite a disappointing NFP on Friday the Dollar remained generally in control during the week. Yen lost across the board as treasury yields continued to rally. New Zealand dollar lost ground despite the RBNZ delivering its anticipated rate hike. Euro lost ground again as inflation pushed up to 3.4% YoY. Eurozone had expected higher inflation…

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Cromwell FX Market View

Greenback Returns to Dominance

The USD gained across the board as stocks continued to falter. This led to a broader stronger greenback. NZD was the worst performer as further lockdowns due to rising COVID infections led to traders pushing back the chance of a rate hike from October to later in the year. The Canadian Dollar continued to gain…

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Cromwell FX Market View

Yen loses as Fed remains Hawkish

The USD was mostly flat against European pairs as continued issues around gas supply and the risk of inflation muted any gains against the greenback. Yen was the largest winner as a hawkish FOMC meeting accelerated treasury yields. The Canadian Dollar was the weeks best performer helped in most by a continuing strong oil price,…

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Cromwell FX Market View

USD Ascendancy Continues China’s Worries

USD and JPY were the key winners as risk of sentiment in stock continued throughout the week. China’s Evergrande continued to worry equity markets with a risk off theme playing out throughout the week. Evergrande is China’s second-largest property developer by sales, and has managed to rack up some $300 billion in debts. Doubts are…

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