North American Summary and Highlights 20 March

March 20, 2025 7:52 PM UTC

Overview - The USD was generally stronger in Europe but stabilized in North America. 

Europe Summary and Highlights 20 March

March 20, 2025 11:16 AM UTC

The USD was generally stronger in a more risk negative market in Europe.

North American Summary and Highlights 19 March

March 19, 2025 7:57 PM UTC

Overview -
The USD advanced into the FOMC decision but slipped back after. Rates and the median dots were left unchanged, but QT was scaled back and growth forecasts revised down, though inflation was seen higher in 2025.

Europe Summary and Highlights 19 March

March 19, 2025 11:08 AM UTC

The USD gained some ground against the riskier currencies through the European morning, primarily due to concerns around developments in Turkey, where Turkish authorities have detained the mayor of Istanbul, one of Erdogan’s main rivals, on charges including corruption and aiding a terrorist group

Asia Summary and Highlights 19 March

March 19, 2025 5:17 AM UTC

BoJ kept rates unchanged

Asia Open - Overnight Highlights

March 19, 2025 12:00 AM UTC

EMERGING ASIA
EM currencies perform individually against the USD as the global market remains choppy. The biggest winners are INR by 0.27%, followed by THB 0.11%, TWD 0.04% and CNY 0.01%; while the largest losers are KRW 0.48, IDR 0.15%, SGD 0.03% and CNH & PHP 0.01%.
USD/CNH is trading higher at 7.22

North American Summary and Highlights 18 March

March 18, 2025 7:28 PM UTC

Overview - The USD was mostly softer but edged higher against the commodity currencies as equities struggled. 

Europe Summary and Highlights 18 March

March 18, 2025 11:05 AM UTC

The USD was mostly weaker through the European morning.

North American Summary and Highlights 17 March

March 17, 2025 7:48 PM UTC

Overview - The USD was mostly softer though USD/JPY rebounded from early losses supported by UST yields.  

Europe Summary and Highlights 17 March

March 17, 2025 11:28 AM UTC

The USD fell back across the board through the European morning, dropping around 0.25%.

Asia Summary and Highlights 17 March

March 17, 2025 5:14 AM UTC

USD opened higher on Monday
US Treasury Secretary Bessent's comment not comforting
Zhejiang trade-in subsidy program offering up to 15,000 RMB for new electric vehicle (EV) purchases and 13,000 RMB for gasoline-powered cars
Shenzen announced eased housing finance rules

Asia Open - Overnight Highlights

March 17, 2025 12:00 AM UTC

EMERGING ASIA
EM currencies perform mostly stronger against the USD as risk sentiment recovers on the last trading day of the week. The biggest winners are IDR by 0.46%, followed by THB 0.29%, PHP 0.18%, CNH & KRW 0.14%, SGD 0.13%, CNY 0.08% and TWD 0.02%; while the largest losers are MYR 0.22% and H

North American Summary and Highlights 14 March

March 14, 2025 7:13 PM UTC

Overview - The main story of the day was a rise in EUR/USD as Germany reached agreement on the debt package. This supported equities despite the Michigan CSI slipping on a surge in inflation expectations.  

Europe Summary and Highlights 14 March

March 14, 2025 11:08 AM UTC

EUR/USD gained half a figure late in the European morning on news that the German government collation had reached agreement with the Greens on the debt package, allowing the fiscal boost from defence and infrastructure spending to be passed. 

This week's five highlights

March 14, 2025 10:00 AM UTC

U.S. Dollar Under Trump
Trump’s Policies and U.S. Equities
U.S. February CPI Renewed progress, but threatened by tariffs
Bank of Canada Another Cut
PBOC Slow Cuts with 5% Nominal GDP

Asia Summary and Highlights 14 March

March 14, 2025 5:13 AM UTC

Shanghai Composite reached new yearly high

North American Summary and Highlights 13 March

March 13, 2025 7:41 PM UTC

Overview - It was a subdued session, though equity weakness weighed on USD/JPY and lifted USD/CAD.  

Europe Summary and Highlights 13 March

March 13, 2025 11:09 AM UTC

USD/JPY gained 40 pips to 148.20 and USD/CAD lost 30 pips to 1.4370, while EUR/SEK rose 7 figures to 11.05. 

North American Summary and Highlights 12 March

March 12, 2025 7:57 PM UTC

Overview - The USD had little clear direction with a dip on a softer than expected CPI being brief. EUR and JPY underperformed the riskier currencies.  

Europe Summary and Highlights 12 March

March 12, 2025 11:17 AM UTC

The JPY continued to correct lower through the European morning. 

Asia Summary and Highlights 12 March

March 12, 2025 5:12 AM UTC

Sentiment calmer on Wednesday
Trump's steel and aluminum tariffs take effect
Canada warns of oil export restrictions to U.S.
Bank of Japan Governor Ueda says higher long term rates reflecting market views on economy
Japan’s Major Firms to Offer Strong Wage Hikes 

Asia Open - Overnight Highlights

March 12, 2025 12:00 AM UTC

EMERGING ASIA
EM currencies perform mostly stronger against the USD as the greenback chops around on Trump's tariff policy changes. The biggest winners are CNH by 0.51%, followed by CNY 0.41%, PHP & SGD 0.29%, MYR 0.22%, INR 0.14%, TWD 0.11% and KRW 0.07%; while the largest losers are IDR 0.4%, THB 0

North American Summary and Highlights 11 March

March 11, 2025 7:46 PM UTC

Overview - European currencies advanced in the European morning and sustained their gains in North America as Ukraine agreed to a 30-day ceasefire. North America saw the CAD and equites fall and subsequently rebound on tariff developments. 

Europe Summary and Highlights 11 March

March 11, 2025 11:22 AM UTC

European currencies were generally firmer through the European morning. 

North American Summary and Highlights 10 March

March 10, 2025 8:00 PM UTC

Overview - Growing economic fears sent equities sharply slower. The JPY was the primary beneficiary in Europe but the USD advanced in North America, particularly versus the riskier currencies. 

Europe Summary and Highlights 10 March

March 10, 2025 11:14 AM UTC

JPY strength was the main feature of the European morning, as equities and bond yields fell in Europe while Japanese yields held the gains seen overnight.

Asia Summary and Highlights 10 March

March 10, 2025 5:09 AM UTC

Japan Labor Cash Earnings +2.8% y/y
Canada's liberal party voted in Mark Carney as new leader, replacing Justin Trudeau as Prime Minister

Asia Open - Overnight Highlights

March 10, 2025 12:00 AM UTC

EMERGING ASIA
EM currencies perform mostly stronger against the USD as the greenback remains going back and forth on the ebb and flows of tariff headlines. The biggest winners are MYR by 0.31%, followed by THB 0.29%, INR 0.27%, PHP 0.24%, IDR 0.21%, SGD 0.17%, TWD 0.08% and HKD 0.01%; while the large

North American Summary and Highlights 7 March

March 7, 2025 8:38 PM UTC

Overview -
European currencies advanced in the European morning before stabilizing in North America. US employment data produced a limited reaction but comments from Fed’s Powell subsequently lifted UST yields, equities and USD/JPY.

Europe Summary and Highlights 7 March

March 7, 2025 10:58 AM UTC

European currencies continued to gain ground in the European morning. 

This week's five highlights

March 7, 2025 10:00 AM UTC

Trump Tariffs Bad for The U.S. Worse For Canada
U.S. February Non-Farm Payrolls to be Stronger than January, but slower than November and December
ECB Disinflation Still On Track But Policy now ‘Work in Progress’
Only Moderate Fiscal Stimulus for China
Germany Attempts to Unlock Debt Brake

Asia Summary and Highlights 7 March

March 7, 2025 5:41 AM UTC

Japan's Finance Minister Kato says recently there have been one-sided, rapid market moves

North American Summary and Highlights 6 March

March 6, 2025 8:56 PM UTC

Overview - JPY rallied ahead of the ECB meeting, which gave the EUR a temporary lift. The CAD bounced as Trump partially delayed tariffs on Canada and Mexico. 

Europe Summary and Highlights 6 March

March 6, 2025 11:15 AM UTC

JPY and CHF strength were the main features of the European morning.

North American Summary and Highlights 5 March

March 5, 2025 8:44 PM UTC

Overview - The EUR continued to advance. US data was mixed but CAD saw support from a one-month postponement of US auto tariffs on Canada and Mexico. 

Europe Summary and Highlights 5 March

March 5, 2025 11:07 AM UTC

EUR/USD extended gains through the European morning session, gaining a big figure to a high of 1.0722 before slipping back below 1.07 by the end of the morning.

Asia Summary and Highlights 5 March

March 5, 2025 5:29 AM UTC

China has suspended soybean import licenses for three US firms and halted US log imports
Australian Q4 2024 GDP +0.6% q/q

Asia Open - Overnight Highlights

March 5, 2025 12:10 AM UTC

EMERGING ASIA
EM currencies perform mostly stronger against the USD as the greenback slumped against major currency on the back and forth of Trump's tariff negotiation tactic The biggest winner is THB by 0.98%, followed by CNH 0.68%, SGD 0.6%, CNY 0.33%, PHP 0.25%, IDR 0.21%, INR 0.1%, KRW 0.09%, HKD