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.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
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
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.26% Silver: 0.06% Gold: -0.28% View the performance of all markets via
  • Bitcoin breaking out of its recent range, now eyeing the June swing-high above $40,000 $BTCUSD #Bitcoin
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.89%, while traders in Wall Street are at opposite extremes with 74.76%. See the summary chart below and full details and charts on DailyFX:
  • DAX broke wedge formation, testing March trend-line. CAC bias looking lower yet after initial bounce. Get your market update from @PaulRobinsonFX here:
  • New Zealand #Dollar Forecast: $NZDUSD at Technical Support- #Fed on Tap-
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.13% France 40: 0.13% US 500: 0.10% FTSE 100: 0.01% Germany 30: 0.01% View the performance of all markets via
  • White House: - No sign yet that the Delta variant has had an economic impact in the US - Mask guidance to be determined at the local level
  • The final week of July brings forth a packed economic calendar – particularly for the US Dollar: June durable goods orders; July consumer confidence; the July FOMC meeting; and 2Q’21 US GDP. Get your market update from @CVecchioFX here:
  • There is a creep of uncertainty with the rise of the Delita variant and the slowing of the economic recovery. Our DFX analysts give you an updated analysis of the top opportunities for Q3👉
  • NY Fed accepts $891.20 billion in reverse repo operations $USD $DXY
Glimmer of Hope Has Dollar on the Move

Glimmer of Hope Has Dollar on the Move

Boris Schlossberg, Technical Strategist

A sudden and surprising US dollar rally overnight was likely driven by speculation that a US debt deal will be done today, but sizable moves in EURUSD and GBPUSD would be erased if the impasse drags on.

The US dollar (USD) suddenly gained ground in mid-morning European trade today as both EURUSD and GBPUSD each plunged more than 50 points in a matter of minutes despite relatively buoyant economic data from both regions. The dollar’s move higher was likely caused by growing speculation that US legislators were getting close to a compromise on the US budget and debt-ceiling deal, with the GOP expected to come together at 11 am ET today.

The Chinese have also started to impart some pressure on US government to get a deal done, with China’s Vice Finance Minister Zhu Guangyan stressing that concrete steps must be taken to fend off default. The Chinese have been increasingly vocal in their criticism of the US budget negotiations, and media reports have swirled that the fiscal fiasco is getting as much attention in Beijing as it is in Washington.

The heavy-handed comments and a recent op-ed about the de-Americanization of the global economy may prove highly counterproductive, however, providing fodder for the xenophobes in the right wing of the GOP. Nevertheless, the markets are clearly trying to pressure lawmakers to take action, and today's North American session could prove quite volatile as a result.

RBA Flashes “All Clear” Sign for Now

On the economic front, the Australian dollar (AUD) was the standout overnight, and AUDUSD came within a whisker of the .9550 level after the release of the Reserve Bank of Australia (RBA) meeting minutes, which confirmed that the RBA has moved away from its easing bias.

In the latest RBA minutes, the Bank noted that there is a substantial degree of policy stimulus currently in place, and vowed to continue to gauge its effects. For now, the RBA noted that a rate cut is not imminent, but it left open the possibility for further rate cuts, if needed.

The RBA's policy stance has clearly become less dovish, as conditions in Australia have improved and markets now assign a very small chance of a rate cut in 2013. The news boosted AUDUSD, which has been bumping up against the .9500 level for several days now, and the pair could clear that barrier and rally towards the .9700 figure over the next several weeks if the debt situation in the US stabilizes and global risk appetite returns.

China Trumps Solid European Data

Meanwhile, in the UK and Eurozone, the economic news was mildly supportive, with UK CPI printing a bit higher than expected at 2.7% versus 2.5% forecast and the German ZEW survey increasing to 52.8 from 49.2 expected. However, both EURUSD and GBPUSD quickly plunged following the comments from China, which essentially trumped the positive tone of today’s data.

Now, if Congress does agree on a debt deal later today, the declines in both the euro (EUR) and British pound (GBP) will likely continue, with EURUSD shorts testing the 1.3450 support and GBPUSD testing the 1.5900 level.

See also: Lesser-Known Facts About Trading the Debt Crisis

On the other hand, if little or no progress is made in the ongoing budget negotiations, flows could quickly reverse as investor fears ratchet higher and the clock keeps ticking towards the looming October 17 deadline.

By Boris Schlossberg of BK Asset Management

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