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  • 9 out of 11 S&P 500 sectors ended lower, with 76% of the index’s constituents closing in the red. Energy (-2.93%), industrials (-1.37%) and consumer staples (-1.26%) underperformed, whereas communication services (+0.23%) and information technology (+0.19%) ended higher. https://t.co/ZhikvkT3L6
  • The Japanese Yen could rise against the US Dollar and Australian Dollar as retail investors increase upside exposure in USD/JPY and AUD/JPY. What are key technical levels to watch? Get your market update from @ddubrovskyFX here:https://t.co/tZDMOGf8JI https://t.co/ECryTOl1ui
  • 🇧🇷 Interest Rate Decision Actual: 5.25% Expected: 5.25% Previous: 4.25% https://www.dailyfx.com/economic-calendar#2021-08-04
  • Heads Up:🇧🇷 Interest Rate Decision due at 22:00 GMT (15min) Actual: 5.25% Expected: 5.25% Previous: 4.25% https://www.dailyfx.com/economic-calendar#2021-08-04
  • The US Dollar put in a strong spike this morning on the back of some comments from FOMC Vice Chair, Richard Clarida. Get your market update from @JStanleyFX here:https://t.co/eegD686FEi https://t.co/FQsHwu6RjN
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.39% 🇨🇦CAD: -0.04% 🇬🇧GBP: -0.19% 🇪🇺EUR: -0.23% 🇨🇭CHF: -0.27% 🇯🇵JPY: -0.40% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/y9WBLkpRXG
  • Heads Up:🇧🇷 Interest Rate Decision due at 21:00 GMT (15min) Expected: 5.25% Previous: 4.25% https://www.dailyfx.com/economic-calendar#2021-08-04
  • August is typically a risk-off month for FX markets, with the Japanese Yen and Swiss Franc the top performers. The Australian and New Zealand Dollars have declined the most. Get your market update from @CVecchioFX here:https://t.co/DeCKSRrDpz https://t.co/TMnfL74loo
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Gold: 0.07% Oil - US Crude: -0.25% Silver: -0.57% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/GePM1FoD1w
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 94.42%, while traders in France 40 are at opposite extremes with 78.72%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/oVnfHgqKie
Forex Strategy: Holding EUR/USD Short Trade

Forex Strategy: Holding EUR/USD Short Trade

Ilya Spivak, Head Strategist, APAC

Much has been made of the Fed’s delay in “tapering” QE but the FOMC’s policy trajectory stands in stark contrast to that of the ECB. Not only is the Eurozone central bank far from scaling back accommodation, but a further expansion of stimulus seems likely considering last week’s surprise rate cut has limited capacity to truly ease credit conditions (market rates traded below the ECB benchmark months before the cut). I’ve entered short at 1.3362, initially targeting 1.3148. A stop-loss is set to trigger on a weekly close above 1.3577.

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