USD flows: USD firm after neutral US data

March 20, 2025 12:38 PM UTC

USD holding its firm tone with data still showing a solid labour market

JPY flows: JPY benefiting from lower US yields and geopolitics

March 20, 2025 8:08 AM UTC

JPY strengthening on the back of lower US yields 

JPY, CHF, EUR, TRY flows: Safe havens benefit as TRY sells off

March 19, 2025 8:15 AM UTC

Safe haven rising as TRY sells off on detention of mayor of Istanbul

JPY flows: JPY mildly supported by Ueda press conference

March 19, 2025 7:38 AM UTC

Ueda mildly hawksih, JPY has upside scope in most scenarios

USD/JPY flows: BoJ kept rates unchanged

March 19, 2025 4:44 AM UTC

Bank of Japan leaves policy unchanged as expected

USD/JPY flows: Softens before BoJ

March 19, 2025 1:12 AM UTC

Japan February exports +11.4% y/y

JPY, AUD flows: JPY soft AUD strong as risk tone improves

March 18, 2025 7:55 AM UTC

USD/JPY correcting towards 150, AUD/USD threatening 0.64 resistance area

USD/JPY flows: Closer to 150

March 18, 2025 1:39 AM UTC

The rebound in USD/JPY is closing in on 150

USD flows: US data mixed, initial USD gains look unjustified

March 17, 2025 12:51 PM UTC

USD gain after the US data look hard to justify goven slowing retail sales trend and weak Empire survey

USD flows: USD mixed, focus on US data

March 17, 2025 7:49 AM UTC

Commodity currencies storng but USD makes gains against the JPY overnight. US retail sales and Empire Manufacturing survey in focus

USD flows: USD initially rises slightly on weak UMich survey, but...

March 14, 2025 2:15 PM UTC

The University of Michigan confidence surey for March makes worrying reading with inflation expectations rising strongly again and confidence weakening further. Initial USD gains may not hold

GBP flows: GBP slips on weaker GDP

March 14, 2025 7:31 AM UTC

GBP lower as January GDP falls 0.1%

USD flows: USD firmer despite softer PPI

March 13, 2025 1:29 PM UTC

USD moves higher as equities and yields rise after softer PPI

JPY flows: JPY supported by hawkish BoJ and weaker equities

March 13, 2025 7:59 AM UTC

JPY resumes gains as equities slip and Ueda maintains hawkish stance

USD, EUR, JPY flows: USD recovers after initial post-CPI dip

March 12, 2025 1:47 PM UTC

USD recovering in more positive risk environment despite softer CPI

USD, CAD, EUR, JPY flows: USD recovers as JPY corrects lower

March 12, 2025 7:52 AM UTC

USD recovering modestly in moe neutral risk environment. EUR/JPY back in line with the historic risk premium correlation

JPY flows: JPY continues to make gains

March 10, 2025 11:02 AM UTC

JPY strength continues as yield spreads narrow and equities weaken

USD/JPY flows: Solid Wage Growth

March 10, 2025 1:02 AM UTC

Labour Cash Earnings +2.8% y/y

USD, EUR, JPY flows: USD a little weaker after employment report

March 7, 2025 1:46 PM UTC

The employment report was marginally weaker than expected, and the USD has slipped lower in response, but we doubt we will see USD weakness extend further today

USD, EUR, JPY flows: EUR staying firm despite weaker German orders, JPY strong despite Kato comments

March 7, 2025 7:55 AM UTC

USD mixed overnight, gaining against the commodity currencies but falling against the EUR and JPY. But it may be ripe for a correction if the employment report is solid

USD, EUR, JPY flows: EUR marginally fimer after ECB, USD remains under pressure

March 6, 2025 2:23 PM UTC

ECB rate cut as expected, statement and comments broadly neutral. USD still under pressure

USD/JPY flows: Calm tone chills JPY bids

March 6, 2025 5:12 AM UTC

USD/JPY recaptured 149 figure
The White House announced a one-month tariff reprieve for auto imports from Mexico and Canada

USD flows: Data provides only minor support

March 5, 2025 3:35 PM UTC

USD still under pressure despite better ISM services data

EUR, JPY flows: EUR gains strongly, JPY still has upside scope

March 5, 2025 7:47 AM UTC

EUR benefiting from potential release of the German debt brake. JPY still looks well supported by yield spreads

USD, CAD, JPY flows: Trump comments push CAD down, JPY up

March 4, 2025 7:46 AM UTC

Late comments from Trump that 25% tariffs on Canada and Mexico would be implemented as scheduled on Tuesday sent USD/CAD, which had earlier seen a brief move below 1.44, well above 1.45 overnight, and USD/JPY plunged to a low of 149.10. 

USD/JPY flows: JPY Steadily Stronger

March 4, 2025 1:17 AM UTC

Japan January Unemployment Rate 2.5%

USD, CAD, JPY flows:Tariff uncertainty persists, JPY has potential for big rally

March 3, 2025 7:40 AM UTC

Tariffs on Canada, Mexico and China are due to be imposed tomorrow but now look likely to be les than the threatened 25%. However, USD/CAD still looks biased higher if the tariff increase is significant. USD/JPY looks very out of line with yield spreads and could see a sharp move lower.

USD/JPY flows: The optimistic jump does not last

March 3, 2025 1:40 AM UTC

The optimism in the risk space did not last

EUR, JPY, CAD, USD flows: German CPI near consensus. USD strength extends on tariffs, end of month, but...

February 28, 2025 9:23 AM UTC

German CPI close to consensus, EUR/USD to hold near 1.04. USD strength on tariffs and end of month can extend to end of day fixings, but JPY decline looks overdone

USD/JPY flows: Dragged by sentiment

February 28, 2025 2:19 AM UTC

Japanese labour unions push for record wage hike amid rising costs
Tokyo February headline CPI +2.9% y/y

USD flows: Mixed US data, JPY could benefit

February 27, 2025 1:44 PM UTC

Mixed Us data but initial claims rise may be most significant. If so, JPY favoured

USD/JPY flows: Consolidating recent movement

February 27, 2025 2:35 AM UTC

US Treasury Sec Bessent says he's dedicated to making Trump's tax cuts permanent

USD, JPY, NOK, SEK flows: USD stabilising but downside risks remain. NOK/SEK weakness is extreme

February 26, 2025 7:43 AM UTC

USD reocvered modestly overnight but downside favoured as long as concerns about slowing growth persist. NOK/SEK testing 2024 lows and continues to look very undervalued.

USD/JPY flows: USD broadly higher

February 26, 2025 4:11 AM UTC

The US House has passed the Republican Budget plan
China not happy with Canada, citing disrupt international trade rules, harm global supply chain

USD, EUR, JPY flows: USD soft on lower US yields

February 25, 2025 2:17 PM UTC

Lower US yields are driving the USD lower, as expectations of tax cuts and government spending are being revised down, while there are also uncertainties around tariffs and QT.

CAD, AUD, JPY flows: Tariffs the focus

February 25, 2025 7:52 AM UTC

Trump's indication that tariffs on Canada and Mexico would be introduced as planned on March 4 undermines risk sentiment with CAD vulnerable and JPY favoured 

EUR, JPY flows: EUR cheered by German election, JPY stll firm

February 24, 2025 8:01 AM UTC

German election result seen as positive for German economy and the EUR. Narrowing yield spreads suggest more JPY strength to come

USD/JPY flows: Consolidates Friday Losses

February 24, 2025 3:24 AM UTC

BoJ not worry about a slow grind higher in JGB yields