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.

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
EUR/USD
Mixed
Oil - US Crude
Bearish
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
Wall Street
Bearish
Gold
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
GBP/USD
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
USD/JPY
Mixed
More View more
Real Time News
  • The London trading session accounts for around 35% of total average forex turnover*, the largest amount relative to its peers. The London forex session overlaps with the New York session. Learn about trading the London forex session here: https://t.co/UTWxbnNz7M https://t.co/W9awqb818J
  • There is a great debate about which type of analysis is better for a trader. Is it better to be a fundamental trader or a technical trader? Find out here: https://t.co/aVAzFypAg1 https://t.co/lucvsACxu5
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here: https://t.co/UVvf51HiVP https://t.co/yywnE39MLU
  • The US Dollar is losing ground against ASEAN FX, with USD/SGD and USD/IDR possibly readying to extend declines. Will USD/PHP and USD/MYR follow? Find out from @ddubrovskyFX here: https://t.co/l705RWumj5 https://t.co/jBbMKYp0F5
  • There are many different types of forex orders, which traders use to manage their trades. While these may vary between different brokers, there tends to be several basic FX order types all brokers accept. Learn about different FX order types here: https://t.co/lIJdiz4xSz https://t.co/YUhC9cCDpy
  • The US Dollar has spent much of October giving back September’s gains. Is there any hope for change? Get your #currencies update from @JStanleyFX here: https://t.co/3EHa6PV5yH https://t.co/PrP9J2klJk
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/UalZ8cRSXB https://t.co/wDVd2QvcjO
  • The longer-term EUR/USD outlook will hinge on Thursday’s ECB guidance; any hint of a further easing of Eurozone monetary policy would weaken it, but that is far from guaranteed. Get your #currencies update from @MartinSEssex here: https://t.co/RmHCfIwdqp https://t.co/hvETa6mtft
  • Traders tend to overcomplicate things when they’re starting out in the forex market. This fact is unfortunate but undeniably true. Simplify your trading strategy with these four indicators here:https://t.co/A4dqGMPylo https://t.co/M8WTvZgx2K
  • The Australian Dollar was under selling pressure this past week, but it held its ground. Bearish patterns brew in AUD/USD and AUD/JPY. Will EUR/AUD, GBP/AUD try to break higher again? Get your #currencies update from @ddubrovskyFX here: https://t.co/04kzJSqgNG https://t.co/ulPk1UneMM
Top Tier Economic Data: RBA, ECB and U.S. Non-Farm Payrolls

Top Tier Economic Data: RBA, ECB and U.S. Non-Farm Payrolls

2014-06-30 11:06:00
David Maycotte,
Share:

Talking Points:

Eurozone Inflation.

The preliminary set of June’s Eurozone CPI figures was largely uneventful for the Euro as the headline year-on-year inflation rate recorded at 0.5 percent, unchanged from the prior month. Notably, Core CPI surprised to the upside at 0.8 percent, beating expectations calling for a print of 0.7 percent. According to DailyFX Strategist Ilya Spivak, the upside surprise in inflation data may reduce traders bets on a near-term expansion of ECB stimulus efforts. Although technical positioning underscores the possibility of further EUR/USD gains ahead, Spivak will take a EUR/USD recovery as an opportunity to short.

[Story: Don’t Rule out $1.3700 for EUR/USD if ECB Sits Tight]

Canada Growth.

The Canadian Dollar has appreciated markedly against the US Dollar over the past couple of months, and may find further support on economic output data. The Canadian economy is economy is expected to grow 2.3 percent year-on-year in April, notably higher from prior month’s growth. Technical analysis shows USD/CAD support clusters range from 1.0634 to 1.0673.

Story: USD/CAD Technical Analysis – Two-Year Uptrend Broken

Top Tier Economic Data: RBA, ECB and U.S. Non-Farm Payrolls

The Reserve Bank of Australia (RBA) has maintained its neutral monetary policy stance for the past 10 months, and are likely to keep the current course at this week’s RBA meeting. The RBA is expected to keep its key lending rate unchanged at 2.50 percent, with that said spotlight will turn to the policy statement and traders may look for any comments regarding the strong exchange rate. Year-to-date the Australian Dollar has appreciated 5.14 percent against the US Dollar. Unless RBA verbally intervenes against the single-currency, it is possible that the policy event may largely be a non-event. The central bank may decide to maintain its policy stance as the labor market is showing signs of improvement and after the Australian economy recorded a strong 1.1 percent first quarter GDP. Minutes from RBA’s May meeting revealed the central bank forecasts below-trend economic growth in the coming quarters and expects monetary policy to remain accommodative for some time. With the RBA’s tone unlikely to change undermining speculation on future interest rate hikes. The Australian dollar may look to US data for directional cues.

ECB Rate Decision.

At the June ECB meeting, the central bank made good on its promise for substantive policy action prompting the Euro to dip as the initial reaction. According to DailyFX Analyst Christopher Vecchio, the breadth of ECB action was plentiful, but raises the question of whether the ECB did enough. This month’s ECB meeting may attract enough attention to spur volatility in the Euro, but following last month’s reaction, the ECB may keep borrowing costs the same as market participants are not expecting President Draghi to introduce new policy measures. The spotlight will undoubtedly turn to the press announcement where Draghi may attempt to strengthen the ECB’s forward guidance.

[Story: EURGBP, EURJPY, and EURUSD are at important technical crossroads ahead of the ECB meeting]

US NFP.

The DJ FXCM US Dollar index has slowly drifted lower over the past couple of days to end last week just above a multi-year rising trend support. The technical positioning puts US NFP’s in the limelight as a weak print may hurt the US Dollar, leading to a break of the trend line and exposing the May low. However, DailyFX Chief Strategist John Kicklighter, says the June NFP figure – barring an extreme surprise – is unlikely to spark a meaningful reaction as traders may be shutting down early in the NY session to leave for the extended weekend. Absent a downside surprise, the jobs report is unlike to prompt the FOMC to waver on its monetary policy stance.

[Story: USDOLLAR 10406 in Focus as Support with Trendline]

David Maycotte, DailyFX Research Team email me at instructor@dailyfx.com

Keep up to date on event risk with the DailyFX Calendar.

How does a Currency War affect your FX trading?

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

DISCLOSURES