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.

Free Trading Guides
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
  • How can traders avoid #FOMO in trading? Start by implementing a well-heeled plan taking only four hours per week. Get your insight from @JStanleyFX here: https://t.co/vwUShQPc27 #tradingstyle https://t.co/sY0X38Obfh
  • 🇺🇸 USD MBA Mortgage Applications (FEB 14), Actual: -6.4% Expected: N/A Previous: 1.1% https://www.dailyfx.com/economic-calendar#2020-02-19
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.90%, while traders in France 40 are at opposite extremes with 80.96%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/8v6pfU4wc0
  • Heads Up:🇺🇸 USD MBA Mortgage Applications (FEB 14) due at 12:00 GMT (15min), Actual: N/A Expected: N/A Previous: 1.1% https://www.dailyfx.com/economic-calendar#2020-02-19
  • The #Euro has dropped to a four-month low against the US Dollar, testing pivotal range support. A break below that may set the stage for a move toward the 1.07 figure.Get your market update from @IlyaSpivak here:https://t.co/20JWgb4Y8g https://t.co/GoXkn7IjBy
  • Commodities Update: As of 11:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.19% Silver: 1.08% Gold: 0.51% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/9pK12DdVOk
  • Forex Update: As of 11:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.19% 🇳🇿NZD: 0.14% 🇦🇺AUD: 0.05% 🇨🇭CHF: -0.08% 🇬🇧GBP: -0.13% 🇯🇵JPY: -0.45% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/g3eknBXi3e
  • Indices Update: As of 11:00, these are your best and worst performers based on the London trading schedule: France 40: 0.73% Germany 30: 0.64% Wall Street: 0.22% US 500: 0.22% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/WPF9syYyye
  • Euro vs USD Price Forecast: EUR/USD Eyes New Lows – Will the Selloff End? More details in the link below: https://www.dailyfx.com/forex/technical/home/analysis/eur-usd/2020/02/19/Euro-vs-USD-Price-Forecast-EURUSD-Eyes-New-Lows--Will-the-Selloff-End-MK.html?CHID=9&QPID=917714 https://t.co/I7sA9XdsDH
  • LIVE NOW! Currency Strategist @PaulRobinsonFX discusses important technical developments relevant to short to intermediate-term commodity and equity index traders here - https://www.dailyfx.com/webinars/816147795?CHID=9&QPID=917720&utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
Forex Fundamental Trends Monitor 07.19.2010

Forex Fundamental Trends Monitor 07.19.2010

2010-07-19 08:06:00
Ilya Spivak, Sr. Currency Strategist

perf_table 071910

EURUSD – Short-covering seems to remain the dominant driver of Euro price action, with spot prices showing a strong inverse correlation with the IMM measure of net speculative short positions on 13-week percent-change studies. Positioning is still skewed to the short side relative to its long-term average, hinting that there is still significant room for continued readjustment to send the single currency higher in the near term. Domestically, the main event will be the release of results from a series of stress tests of European banks designed to gauge their ability to withstand a sovereign default in the region. These will determine if the ECB will renew long-term repo operations (LTROs), and outcome that would deepen the liquidity pool and weigh yields, sending the Euro lower. July’s preliminary Euro Zone PMI and Consumer Confidence figures as well as Germany’s IFO survey of business confidence are also of note.

TM 071810 EUR

GBPUSD – Relative monetary policy expectations appear to be in focus for the British Pound, with the correlation of spot prices and the spread between the two countries’ 3-month Libor rates tracking at the highest since December 2009 since early spring. This puts the onus on the release of the minutes from July’s Bank of England policy meeting – the first one since the government announced an ambitious emergency budget that promised to slash the deficit by 6.3 percent of GDP by 2014-15 – as markets size up the central bank’s take on the ruling coalition’s plans and their implications for where interest rates go from here. Friday’s release of second-quarter GDP figures is also of note.

TM 071810 GBP

USDJPY – The US earnings season remains in focus as investors continue to look at the world’s largest consumer market as the bellwether of the global economic recovery, particularly with European growth likely to prove lackluster as the region works through its sovereign debt burden while China hits the brakes amid fears of asset bubbles and runaway inflation. Indeed, USDJPY continues to show a firm correlation with the MSCI World Stock Index on 20-day percent-change studies, meaning investor’s top funding currency is firmly anchored to the ebb and flow of Wall St in the days ahead.

TM 071810 JPY

USDCAD, AUDUSD, NZDUSD – The commodity bloc remains closely tied to risk sentiment, with prices continuing to show formidable correlations with the MSCI World Stock Index (AUD: 0.90, NZD: 0.76 and CAD: 0.85) on 20-day percent-change studies. As with the Yen, this puts the spotlight on the US earnings season and what investors are able to derive from it by way of an outlook on the sustainability of the global economic recovery. Canada’s interest rate decision headlines the economic calendar, though the outcome may not prove to have a lasting impact considering a rate hike is likely priced in at this point. Indeed, a Credit Suisse gauge of priced-in expectations shows traders see a 100 percent chance of a 25bps increase.

TM 071810 CAD

TM 071810 AUD

TM 071810 NZD

For real time news and analysis, please visit http://www.dailyfx.com/real_time_news

To receive future articles by email, please contact Ilya at ispivak@dailyfx.com

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


News & Analysis at your fingertips.