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
Subscribe
Please try again
EUR/USD
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
Oil - US Crude
Mixed
Wall Street
Mixed
Gold
Mixed
GBP/USD
Bearish
USD/JPY
Bullish
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
  • The US Dollar is moving higher after a blowout NFP report bolstered confidence in the US economic recovery. Markets will now turn attention to next week’s US inflation data which could boost the Greenback. Get your market alert from @FxWestwater here: https://t.co/Ud62r3hKRF https://t.co/dvvDCJvlbP
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/Yl9vM7kO6a https://t.co/7g9pB8D9xK
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/OCLzmXaDCu
  • Technical analysis of charts aims to identify patterns and market trends by utilising differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here: https://t.co/KDjIjLdTSk https://t.co/UZela9nSIm
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Learn about the importance of the ISM manufacturing index here: https://t.co/Xr3xtoFpZy https://t.co/7oqC3ykBbU
  • 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/9S5tXIs3SX https://t.co/IgUIG55MbH
  • Supply constraints, rebounding global demand and rising inflation expectations may drive crude oil prices higher in the near term. Get your market update from @DanielGMoss here: https://t.co/ezPoAwcJt7 https://t.co/NMfk1cYSvE
  • Take a closer look visually at the most influential global importers and exporters here: https://t.co/G58J1dg6y3 https://t.co/OiRiBVeuzL
  • Crude Oil Prices Aiming Higher on OPEC Surprise, Inflation Expectations - https://www.dailyfx.com/forex/fundamental/forecast/weekly/title/2021/03/06/Crude-Oil-Prices-Aiming-Higher-on-OPEC-Surprise-Inflation-Expectations.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr $CL #Crudeoil #OOTT #OPEC https://t.co/AKvXWX9DLQ
  • Given the size of the rally in the eleven months preceding the beginning of the current decline a broader sell-off looks warranted. Get your market update from @PaulRobinsonFX here: https://t.co/UxZiSulpwB https://t.co/raXvlzkGbV
S&P 500, DAX & FTSE - How Will Markets Repond to Weakness Next Week?

S&P 500, DAX & FTSE - How Will Markets Repond to Weakness Next Week?

Paul Robinson, Strategist

Talking Points:

  • Several ‘high’ impact data events in week ahead; S&P technical picture weakening
  • German employment figures and German/Euro-zone CPI; DAX broke important support
  • BoE held on rates as expected, hawkish tone slightly dented stocks; FTSE holding key level

For forecasts, trade ideas, and educational guides, check out the DailyFX Trading Guides.

S&P 500

Last week, a big driver in markets was the trade war, but once again despite initial headlines hitting futures overnight, the down open was bought. This suggests that while traders are paying attention, it’s not yet viewed as ultra-significant. Expect this to continue to be a looming threat for the foreseeable future.

Turning attention to the economic calendar, next week holds several ‘high’ impact data releases: Consumer Confidence on Tuesday, Durable Goods and Trade Balance on Wednesday, GDP on Thursday, and Core PCE on Friday. For full details on release times and estimates check out the economic calendar.

As discussed in the morning commentary, the S&P could soon be in for a big test if it doesn’t hold support just below. A clean break of the May highs at 2742 will have the market potentially rolling downhill towards its fourth test this year of the February 2016 trend-line/200-day MA. Until support is broken, though, it could be just another pullback, but it’s looking increasingly likely that it may turn into something more sinister.

S&P 500 Daily Chart

S&P 500 daily chart

DAX

Looking ahead to next week, we have CPI figures for Germany on Thursday and on Friday for the Euro-zone. Friday also brings the June Germany Unemployment data. The inflation data is likely to be the bigger mover for the DAX given its stronger impact on the euro.

The decline this past week took the DAX below important support around the 12600/500-area, and was followed up by a bounce on Friday back into this zone. The broken zone of support is now viewed as a source of resistance and if the market can’t quickly and convincingly recapture it, look for the slide to continue. On further weakness, support first arrives at a swing-low from April at 12312.

Check out this guide for 4 ideas on how to Build Confidence in Trading.

DAX Daily Chart

DAX daily chart

FTSE

On Thursday, the Bank of England voted 6-3 to keep rates on hold at 0.50%. The overall take-away was hawkish with rate hike expectations for August rising, which helped give sterling a boost following the announcement, and subsequently leading to a small sell-off in the FTSE. Next week, the only ‘high’ impact event on the calendar is Carney speaking Wednesday about the Financial Stability report. For a full run-down of all scheduled releases, check out the economic calendar.

Early last week, the FTSE first tested the bottom of a revived support zone from 7600 down to 7550 (7548 was the weekly low), not once but twice. This zone first arrived in the second-half of last year as staunch resistance, but it’s relevance had been unsupported since until this last week. Holding above last week’s low will be crucial if the market is to maintain a bid. A drop below and the developing bearish sequence off the May high could further itself along.

FTSE: Daily

FTSE daily chart

---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinsonFX

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

DISCLOSURES