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
Oil - US Crude
Mixed
Wall Street
Bearish
Gold
Mixed
GBP/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
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
  • $GBPUSD corrects from stretched valuations, however, positioning clear is likely to entice dip-buyers. Get your market update from @JMcQueenFX here: https://t.co/sfFdBx9pN6 https://t.co/j6nnry65SW
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out https://t.co/c51s3IBcEu https://t.co/oQrOpYINOj
  • 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/LSVPlus0vv
  • There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency is the fundamental factor that prevails above them all. Learn how interest rates impact currency markets here: https://t.co/J0EPMD2Cfi https://t.co/rPd6B5KzuI
  • Time-cycle analysis suggests that the Japanese Yen could slide significantly lower against its major counterparts. Key levels for AUD/JPY, EUR/JPY and GBP/JPY. Get your market update from @DanielGMoss here:https://t.co/WPq4Z9zzEw https://t.co/VzVLrBbL9q
  • The Australian Dollar looks poised to outperform the haven-associated US Dollar and Japanese Yen. However, it may lose ground to the New Zealand Dollar. Key levels for AUD/USD, AUD/JPY and AUD/NZD. Get your market update from @DanielGMoss here:https://t.co/cuxRxl5WaF https://t.co/pujrmqSxV7
  • Has anyone explained the risk of inflation on the markets in terms of tendies?
  • The US Dollar is trying to break higher versus ASEAN currencies. The Singapore Dollar, Philippine Peso, Thai Baht and Indonesian Rupiah are under pressure. Will follow-through last? Get your market update from @ddubrovskyFX here:https://t.co/JOWG9q01q0 https://t.co/j2ICxgrLa3
  • The commodity-sensitive Canadian Dollar may continue outperforming its major counterparts in the coming weeks. USD/CAD, CAD/CHF, CAD/JPY and EUR/CAD key levels to watch. Get your $USDCAD market update from @DanielGMoss here:https://t.co/9bkVXQuP5C https://t.co/cLNEG36mZ8
  • We just closed out the heaviest week of volume for the $SPY (US equities) since June and $TLT (Treasuries) since March 16
S&P 500 Analysis - Mnuchin Jawbones S&P 500 Higher Ahead of G20 Summit

S&P 500 Analysis - Mnuchin Jawbones S&P 500 Higher Ahead of G20 Summit

Justin McQueen, Analyst

S&P 500 Equity Analysis and News

  • G20 Ceasefire on the Way
  • Mnuchin Jawboning, However, we Have Seen This Before

Ceasefire on the Way

Last week we noted that we where getting a sense of déjà vu ahead of the G20 summit with the upcoming meeting between President Trump and Xi likely to yield similar results to last November (full analysis), in which both parties agreed a ceasefire. Reports yesterday confirmed as much with sources noting that the US are set to delay more China tariffs as talks are expected to resume, as such, concerns over a further escalation in trade war tensions has eased.

Mnuchin Jawboning, However, we Have Seen This Before

The latest uptick in US equity futures has been spurred by comments from US Treasury Secretary Mnuchin who stated that the US-China trade deal is 90% complete. This appears to be typical jawboning from Mnuchin, given that these comments are largely a reiteration as to what has been said previously back in April and May. Thus, the recent bounce in equity markets seem to be somewhat dubious and are at risk of being pared.

S&P 500 Price Chart: 1-Minute Time Frame (intra-day)

S&P 500 Analysis - Mnuchin Jawbones S&P 500 Higher Ahead of G20 Summit

S&P 500 | Technical Outlook

The S&P 500 remains elevated with the latest uptick attributed to comments from Mnuchin, which raises scope of a test of 2960-65 resistance, which represents the rising trendline from prior peaks in the index. However, with the weekly RSI showing a negative divergence there is a risk of a notable pullback in the index, which could accelerate on a break below 2865.

S&P 500 Price Chart: Weekly Time Frame (Jan 16 – Jun 19)

S&P 500 Analysis - Mnuchin Jawbones S&P 500 Higher Ahead of G20 Summit

RESOURCES FOR FOREX & CFD TRADERS

Whether you are a new or experienced trader, we have several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at Justin.mcqueen@ig.com

Follow Justin on Twitter @JMcQueenFX

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

DISCLOSURES