JPY, USD, EUR, CHF flows: JPY the big loser overnight, PMI data of interest

June 23, 2025 6:52 AM UTC

JPY loses ground across the board overnight. Preliminary June PMIs of interest in the absence of escalation of the Middle East conflict

CHF flows: EUR/CHF dips slightly after SNB cut

June 19, 2025 8:10 AM UTC

SNB cuts 25bps as generally expected. Small EUR/CHF dip due to minority view that SNB would cut rates to negative

NOK, SEK, CAD, JPY flows: Potential for corrections

April 24, 2025 6:46 AM UTC

FX moves driven by the tariff driven risk sell off can correct in less volatile markets

GBP, EUR, USD, CHF flows: GBP slightly firmer on GDP, USD remains under pressure

April 11, 2025 6:59 AM UTC

GBP benefiting from much strogner than expected UK GDP. USD remains under pressure, CHF strength may be a little overdone

CHF flows: CHF softer after rate cut

March 20, 2025 9:06 AM UTC

CHF weaker after SNB cut rates as generally expected. More scope for CHF/JPY decline than EUR/CHF gain

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 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

EUR flows: EUR gains on Ukraine look optimistic

February 13, 2025 9:33 AM UTC

EUR gains on the back of rising expectations of an end to the Ukraine war look optimistic

NOK flows: NOK firmer after higher CPI

December 10, 2024 7:49 AM UTC

NOK makes some gains after CPI comes in above expectations, but scope for much larger recovery

USD, CHF flows: USD recovers slightly, CHF holds firm

December 9, 2024 7:52 AM UTC

USD recovers slightly after post-employment dip but Fed rate cut still largely priced in. CHF stays firm on geopolitics, Eurozone concerns

CHF flows: EUR/CHF bounces on SNB comments

November 22, 2024 2:32 PM UTC

EUR/CHF back above opening levels after SNB chair Schlegel indicates potential for negative rates. But scope for CHF losses against the UR remains quite limited. CHF/JPY and CHF/NOK much more vulnerable

USD, JPY, CHF flows: USD quieter, crosses to dominate

November 19, 2024 8:00 AM UTC

Majors mostly consolidating. Verbal intervention from Japan helping cap USD/JPY but little USD momentum seen. Scope for action on crosses 

CHF flows: CHF falls on weaker CPI

November 1, 2024 7:54 AM UTC

CHF falls sharply as October CPI comes in below consensus, but declines unlikely to extend far ahead of the US election

USD, JPY, CHF flows: Safe havens firm on Middle East tension

October 2, 2024 6:48 AM UTC

Safe havens remainign strong as Middle East tension rises. Oil price move thus far is modest, but fears of escalation remain. JPY the best value of the safe havens.

USD flows: USD slips lower on softer PCE price data

September 27, 2024 1:19 PM UTC

USD generally softer after PCE price index rises only 0.1% in August. AUD and JPY favoured

USD, JPY, AUD, CHF flows: Risk recovery overnight

September 12, 2024 6:53 AM UTC

High yielders gain and safe havens dip on risk reocvery overnight, but JPY likely to be resilient

EUR, CHF, GBP flows: EUR offer, GBP and CHF staying firm, but...

August 28, 2024 7:04 AM UTC

EUR/USD looks likely to hold clos to current levels. GBP and CHF gains may start to falter

JPY, CHF, GBP flows: JPY steadier, GBP, CHF gains stretched

August 27, 2024 7:08 AM UTC

JPY stabilising, CHF and GBP strength statign to look overdone

EUR flows: Bouncing as EZ numbers outperform Germany

August 22, 2024 8:23 AM UTC

EUR bounces as EZ PMI comes in above expectations despite weaker German data

EUR, JPY, GBP, NOK flows: Mildly more risk positive tone

August 12, 2024 6:30 AM UTC

Asia trading sees modest gains in the riskier currencies with safe havens edging lower

NOK, AUD flows: NOK little changed after CPI, AUD firm

August 9, 2024 6:27 AM UTC

NOK reverses initial post-CPI gain, but has upside scope. AUD firmer in better risk environment overnight, gains can extend

JPY, EUR, CHF flows: JPY lower on Uchida comments

August 7, 2024 7:01 AM UTC

BoJ deputy governor Uchida's comments indicating that the BoJ would not tighten in unstable markets has helped USD/JPY correct higher. More corrective pressure may be seen today, but underlying picture remains JPY positive 

USD, JPY, NOK, AUD flows: Mild risk recovery continues

August 6, 2024 7:07 AM UTC

The risk reocvery ocntinued overnigth and the JPY has fallen back, but remains undervalued. CHF still has more downside scope, and high yielders could recover further

JPY, CHF flows: Safe haven gains may be reaching near term limits

August 2, 2024 6:58 AM UTC

JPY gains have been mostly a reversal of the May/June overshoot, but have been extended by the recent risk sell off. JPY crosses now approaching levels that are consistent with current risk premia. CHF strength on risk weakness likely to paude as EUR/CHF finds support near 0.94

CHF, JPY flows: CHF strength approaching limits

August 1, 2024 6:49 AM UTC

CHF gains against the EUR reflect some weakening in risk sentiment but the JPY remains the preferred safe haven

USD, JPY, CHF flows: Steadier markets as risk stabilises

July 26, 2024 7:06 AM UTC

Riskier currencies edging higher, JPY stable as risk stabilises and Japan Tokyo CPI comes in in line with expectations.

JPY, CHF flows: JPY and CHF gain as equities slip

July 19, 2024 7:19 AM UTC

JPY and CHF rally as equities turn lower. JPY remains preferred on value grounds

EUR flows: EUR slightly softer after French election

July 8, 2024 6:53 AM UTC

EUR a little softer, mainly versus CHF, after Left Alliance unexpectedly the largest party after the French election. But parliament still looks deadlocked as expected

EUR, GBP flows: UK PMI falls but holds up better than Eurozone

June 21, 2024 7:36 AM UTC

UK PMI weaker but EUR/GBP a little lower as UK a little better than EZ.