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
EUR/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
GBP/USD
Mixed
USD/JPY
Bearish
Gold
Bullish
Oil - US Crude
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
Bitcoin
Bearish
More View more
Real Time News
  • Forex Update: As of 03:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.17% 🇨🇭CHF: 0.04% 🇪🇺EUR: -0.03% 🇨🇦CAD: -0.13% 🇦🇺AUD: -0.36% 🇳🇿NZD: -0.37% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/3NzfCsQ13V
  • LIVE NOW! Senior Currency Strategist @IlyaSpivak discusses the technical and fundamental $AUDUSD outlook for the week ahead here - https://www.dailyfx.com/webinars/378612179?CHID=9&QPID=917720&utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.90%, while traders in Germany 30 are at opposite extremes with 83.46%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/YAczEQdU5T
  • LIVE IN 30 MIN: Senior Currency Strategist @IlyaSpivak discusses the technical and fundamental $AUDUSD outlook for the week ahead here - https://www.dailyfx.com/webinars/378612179?CHID=9&QPID=917720&utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • Join @IlyaSpivak 's #webinar at 10:00 PM ET / 3:00 AM GMT to prepare for the week ahead in trading $AUDUSD Register here: https://t.co/sZNWPVRHA0 https://t.co/kYQsHkGUoV
  • Chinese Equities Following Tuesday Open: Shanghai Composite (-0.15%), CSI 300 (-0.25%) -BBG [delayed]
  • Asia Pacific Equities Update - China still closed: Nikkei 225 (-1.08%), KOSPI (-1.12%), ASX 200 (-0.20%), Hang Seng (-0.69%) -BBG [delayed]
  • My majors-based #Yen index is gaining with risk aversion pickup up pace in Asia trade as #Nikkei225 futures drop. Still, #JPY generally has more room to go before the broader technical bis shifts bullish from neutral. I am keeping an eye on Jan & Feb highs as that threshold https://t.co/NTWCrNiekf
  • RT @KyleR_IG: * #RBA: CORONAVIRUS A MATERIAL NEAR TERM RISK TO CHINA, TRADE * RBA: CUT COULD SPUR BORROWING AND STRONG UPSWING IN HOUSING *…
  • $AUDUSD aiming cautiously lower after #RBA minutes paint somewhat cautious outlook, focus remains on deterioration in market mood with #SP500 and #Nikkei225 futures pointing lower - https://t.co/xl2zyxHAsQ https://t.co/cVFaQxIwVb
USD Graphic Rewind 07.09

USD Graphic Rewind 07.09

2010-07-09 06:13:00
Jonathan Granby,
Share:

 USD INDEX GRAPHIC REWIND

dxy7.9

It was a choppy day for the dollar index Thursday, as positive props continued to put the dollar under pressure, but some speculators have re-entered the market using dips as an opportunity to buy the dollar, anticipating an eventual rise after another session of being beaten down. Risk appetite was certainly on over-night with Asian and European equities rallying strongly following strong close by US equities on Wednesday. As N. American traders returned Thursday they were brimming with confidence after such firm gains, risk appetite was supported early as weekly jobless claims dropped. The dollar was ultimately under pressure with such risk appetite, as investors shunned the dollar and picked up beaten down equities and risker FX. As mentioned Usd speculators have re-entered the market as the index sets up for its third week of losses, investors feel the index is due to correct higher and the dollar to come back in favour. We can see this in the above chart, how well supported the dollar was on dips lower, almost immediately re-tracing all of its moves lower. 

Looking ahead, Asian markets have notched up another round of gains and set up a positive close to the week, the dollar is likely to remain under pressure especially if the euro can push above its late NY highs at 1.2713. The speculators are not wrong though, it is our position also that the dollar is due to regain some lost ground and start to strengthen. 

 

Written by Jonathan Granby, DailyFX Research Team
 

If you wish to receive Joel's reports in a more timely fashion, e-mail instructor@dailyfx.com and you will be added to the "distribution" list.
If you wish to discuss this topic or any other feel free to visit our 
Forum page


 

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

DISCLOSURES

News & Analysis at your fingertips.