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Latest Analysis
Dollar bears shrug off positive payrolls
12 February, 2026
Good morning. The dollar is edging lower even after yesterday’s stronger-than-expected jobs data drove a hawkish repricing in US growth and monetary policy expectations. Treasury yields are holding steady,...
AUD outperformance
11 February, 2026
• US data. US jobs report supported sentiment. This & ‘hawkish’ comments by RBA’s Hauser helped AUD outperform. AUD at levels last traded in Feb ’23.• Rate repricing. Markets...
Upside payrolls surprise fuels dollar rally
11 February, 2026
After slowing sharply over the last year, the US job creation engine showed signs of accelerating last month, frustrating market expectations for a rapid easing cycle from the Federal Reserve, and allaying...
Dollar softens as US consumers slow spending growth
10 February, 2026
The dollar is weakening and yields are nudging lower after US consumer spending surprisingly flatlined in December, underpinning expectations for more monetary easing in the months ahead. According to...
Political developments roil currency markets
09 February, 2026
Treasury yields are climbing and the dollar is under pressure after Bloomberg reported that Chinese regulators have instructed the country’s commercial banks to cut their holdings of American government...
Risk Reversal
08 February, 2026
• Risk rebound. Strong recovery in US equities. USD lost ground. Backdrop pushed NZD & AUD higher. JPY still under pressure post weekend elections.• Data flow. RBA Deputy Gov speaks (Weds). US retail...
Investors cautiously step into market wreckage seeking bargains
06 February, 2026
After several sessions of violent, whiplash price action in precious metals, cryptocurrencies and high-beta technology stocks, investors are hesitantly stepping back in this morning, driving a mean-reversion...
Currency market fireworks remain subdued as traders process conflicting signals
05 February, 2026
Good morning. Foreign exchange markets are caught between conflicting forces as precious metals extend their decline and a sell-off in technology stocks shows signs of exhaustion. Gold and silver prices...
Push-pull forces
04 February, 2026
• Push-pull. A few equity market wobbles overnight. USD a bit firmer. NZD underperforms. AUD retraces its RBA rate hike induced uptick.• Macro events. ECB & BoE expected to hold rates steady tonight....
Tech washout leaves currency markets directionless
04 February, 2026
Foreign exchange markets are looking somewhat rudderless this morning after a technology-led selloff hammered the biggest US stocks yesterday and dampened global risk appetite. The dollar is extending...