The EUR/USD pair moved steadily around 1.1750 during Wednesday's Asian session. Its movement appeared to be holding up after a sharp drop the previous day from its highest level since September 24th. Despite the correction, the overall direction of EUR/USD remains bullish. Market sentiment suggests that selling pressure on the dollar is weakening, giving the euro room to hold its ground. From the US side, the dollar's recovery following the release of the Nonfarm Payrolls (NFP) data is starting to run out of steam. The mixed labor data hasn't been strong enough to change market confidence...
The Japanese yen weakened slightly during the Asian session on Wednesday, as investors remained cautious while awaiting the Bank of Japan (BoJ) policy update. Market focus now turns to the two-day BoJ meeting next Friday, which is expected to provide clues regarding the interest rate path through 2026. Expectations for a BoJ interest rate hike this week are believed to be a supportive factor for the JPY. Investors anticipate a hawkish BoJ stance could boost the yen or at least prevent further depreciation, although more cautious market sentiment has limited the currency's...
The US dollar strengthened slightly and US Treasury bonds pared earlier gains after disappointing US jobs data proved insufficient to convince the market that the Fed would soon cut interest rates again. The dollar strengthened against G10 currencies, most notably against the yen, while the yield on the 10-year US Treasury note rose to around 4.17%. In commodity markets, the movement was much more violent. Oil prices rose about 1.3% after President Donald Trump ordered a blockade of tankers entering and leaving Venezuela, sparking supply concerns from the OPEC member. At the same time,...