News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
Oil - US Crude
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.51%, while traders in Wall Street are at opposite extremes with 76.17%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/t2pDS9yUBK
  • Forex sentiment analysis can be a useful tool to help traders understand and act on price behavior. Learn how to get the most out of understanding trader sentiment here: https://t.co/rJznrXkcYz https://t.co/OG6fzgyFAD
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.03% 🇨🇦CAD: -0.03% 🇪🇺EUR: -0.07% 🇬🇧GBP: -0.09% 🇦🇺AUD: -0.09% 🇳🇿NZD: -0.14% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/DebOdcQabP
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.31% FTSE 100: -0.51% Germany 30: -0.69% US 500: -0.75% France 40: -0.76% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/iUg2nPVyUQ
  • Emotions are often a key driving force behind FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Read on and get your emotions in check here: https://t.co/eILWbFgHRE https://t.co/3slfUlBMvq
  • The Swiss Franc’s technical stance against the New Zealand Dollar and Japanese Yen has brightened, with the technical outlook in NZD/CHF and CHF/JPY primed to benefit CHF. Get your market update from @FxWestwater here:https://t.co/u4GY00QpgC https://t.co/WyAsQcl1Ra
  • 🇸🇬 Unemployment Rate Prel (Q2) Actual: 2.7% Previous: 2.9% https://www.dailyfx.com/economic-calendar#2021-07-30
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Silver: 0.25% Gold: 0.03% Oil - US Crude: -0.52% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/bgDO7ntMjQ
  • The Citi Economic Surprise Index tracking the US just turned negative for the first time since June 2020 This means economists are now overestimating the health and vigor of the economy, opening the door to disappointment ahead This does note bode well for NFPs next week...
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.00% 🇨🇭CHF: -0.04% 🇪🇺EUR: -0.05% 🇦🇺AUD: -0.09% 🇨🇦CAD: -0.13% 🇳🇿NZD: -0.15% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/yZQPhHsvEr
Euro Resilience to Persist as Market Behavior Continues to Shift

Euro Resilience to Persist as Market Behavior Continues to Shift

David Song, Strategist

The Euro has staged an impressive rally following the French election, and the resilience may persist over the coming months especially as German Chancellor Angela Merkel warns the single-currency remains ‘too weak.’

With the European Central Bank (ECB) on course to conclude its quantitative easing (QE) program in December, the threat of a ‘taper tantrum’ appears to have sapped the bearish sentiment surrounding the Euro, and EUR/USD may continue to retrace the decline from the previous year as European Central Bank (ECB) officials warn of an upcoming shift in monetary policy.

Indeed, forecasts for ‘EUR/USD-parity’ have largely disappeared as the exchange rate breaks to fresh 2017-highs in May, and the pair may continue to take out the topside hurdles especially as the greenback gives back the advance following the U.S. Presidential election. At the same time, a June rate-hike from the Federal Open Market Committee (FOMC) may fail to prop up the dollar as officials see a terminal fed funds rate close to 3.00%, and the reserve currency stands at risk for a larger correction should the central bank refrain from revealing a more detailed exit strategy.

Have a question about the currency markets? Join a Trading Q&A webinar and ask it live!

EUR/USD Daily

EUR/USD Daily Chart

Broader outlook for EUR/USD has become more constructive in 2017 as the pair breaks out of the downward trend carried over from the previous year, and the euro-dollar exchange rate may continue to retrace the decline from the 2016-high (1.1616) as price & the Relative Strength Index (RSI) extend the bullish formation from December.

However, the lack of momentum to test the November-high (1.1299) may stoke a near-term pullback in EUR/USD especially as the momentum indicator highlights a textbook ‘sell-signal’ and falls back from overbought territory. In turn, the recent sequence of lower highs & lows may gather pace going into the end of the month, but the broader outlook favors opportunities to buy-dips in EUR/USD as the shift in market behavior continues to unfold.

IG Sentiment

Retail trader data shows 27.8% of traders are net-long EUR/USD with the ratio of traders short to long at 2.6 to 1. In fact, traders have remained net-short since April 18 when EUR/USD traded near 1.06163; price has moved 5.3% higher since then. The number of traders net-long is 1.4% higher than yesterday and 2.4% higher from last week, while the number of traders net-short is 4.4% higher than yesterday and 1.9% higher from last week. For more information on retail sentiment, check out the new gauge developed by DailyFX based on trader positioning.

For More Updates, Join DailyFX Currency Analyst David Song for LIVE Analysis!

If you’re looking for trading ideas, check out our Trading Guides.

--- Written by David Song, Currency Analyst

To contact David, e-mail dsong@dailyfx.com. Follow me on Twitter at @DavidJSong.

To be added to David's e-mail distribution list, please follow this link.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES