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  • US yields continue to creep higher, forcing investors to de-risk across different asset classes $USD $DXY $XAU $XAG
  • Monday rounds out the biggest three-day tumble for $EURUSD since April 3rd. Further, the 200-day moving average is once again in view after 200-trading days above the long-term benchmark
  • Bond markets will be on edge all week, with several measures of inflation due from around the globe (Mexico, China, US, Australia, Brazil, Germany, and India). Get your market update from @CVecchioFX here:
  • Bitcoin bears exert force, driving Bitcoin back below the 50k psychological level BTC/USD support showing around a Fibonacci level. Get your $btc market update from @Tams707 here:
  • Time to break out some ratios like commercial real estate property tickers (eg $SPG) relative to Amazon ($AMZN) or Carnival Cruise ($CCL) relative to Netflix ($NFLX)
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: -0.07% 🇬🇧GBP: -0.11% 🇦🇺AUD: -0.42% 🇪🇺EUR: -0.54% 🇳🇿NZD: -0.59% 🇨🇭CHF: -0.63% View the performance of all markets via
  • Rising yields (the aggregate yield I mentioned earlier is overlaid and inverted in red here) is dragging gold lower. The 60-day correlation (3 trading month) between $GC_F and yields is the strongest net negative since Oct 2019
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.42% Silver: -0.47% Gold: -1.10% View the performance of all markets via
  • The Australian Dollar now risks a deeper March correction with the AUD/USD price reversal approaching multi-month uptrend support. Get your $AUDUSD market update from @MBForex here:
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.43%, while traders in Germany 30 are at opposite extremes with 80.92%. See the summary chart below and full details and charts on DailyFX:
US Dollar Flat as Yen Strengthens but Euro Concerns Resurface

US Dollar Flat as Yen Strengthens but Euro Concerns Resurface

Christopher Almeida,
Forex_US_Dollar_Flat_as_Yen_Strengthens_but_Euro_Concerns_Resurface_body_rewind01march2013.png, US Dollar Flat as Yen Strengthens but Euro Concerns Resurface

Created Using Marketscope 2.0

THE TAKEAWAY: After gapping higher on Monday of this week, the US Dollar Index ended the week largely flat as the Yen gained and the Euro fell on Italy’s inconclusive election.

The US Dollar gapped higher against the Yen on Monday this week as newswires reported that Haruhiko Kuroda was the most likely candidate to be named as head of the Bank of Japan. Haruhiko Kuroda backs Prime Minister Shinzo Abe’s agenda to take the nation out of the previous decades of economic gloom. Being an advocate for inflation targeting and monetary easing, Kuroda speculation saw the Yen gap slightly weaker against the Greenback.

The Yen, usually used as the funding currency for carry trades, then gained as the week went on sending the Dollar lower as the Italian election proved inconclusive prompting investors to take some risky bets off the table. A brief mid week rally in the Greenback came as a result of Ben Bernanke reassuring investors that the Federal Reserve Bank has an appropriate plan to wind down stimulus.

The so called ‘safe haven currency’ weakened into Friday of Asian trade as the Euro regained some momentum on the back of a more positive Euro-zone outlook from the ECB President Mario Draghi. Finally, some strong US data which saw jobless claims fall by 22,000 to 344,000 last week and GDP growth of 0.1% in the 4th quarter sent the Dollar higher as confidence improved in the world’s largest economy.

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