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. See our updated Privacy Policy here.

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
Mixed
Oil - US Crude
Bullish
Wall Street
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
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Gold are long at 87.12%, while traders in France 40 are at opposite extremes with 74.18%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/WKmgAjSLWR
  • Use this technical analysis pattern recognition skills test to sharpen your knowledge: https://t.co/Qgz89PTxnu https://t.co/3rXsyuSemd
  • Nasdaq 100 Rebounds as Tapering Fears Ease, Hang Seng and ASX 200 Climb https://www.dailyfx.com/forex/market_alert/2021/06/22/Nasdaq-100-Rebounds-as-Tapering-Fears-Ease-Hang-Seng-and-ASX-200-Climb.html https://t.co/NZxRtj3rNa
  • ANZ Bank sees New Zealand house prices increasing by 0.7% in 2022 - BBG
  • Ever wonder if there are other chart types that can be sued for technical analysis? HLOC charts are discussed in the following article as well as their pros and cons. Learn more here: https://t.co/qV3c7a4YR3 https://t.co/9ZUHvkEw7R
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here: https://t.co/kODPAfJE79 https://t.co/aGz502atu0
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here: https://t.co/CNtqrKWDBY https://t.co/OibiizbywE
  • Wall Street futures pointing slightly higher heading into morning Tuesday APAC trade: Dow Jones (+0.19%) S&P (+0.16%) Nasdaq (+0.11%) -BBG
  • Get our analysts’ view on the key fundamentals for Oil in Q2. Download now. https://t.co/bXrPHkaSCn https://t.co/3CjqFS8nZn
  • The Bullish Cup and Handle that has been brewing in $USDTHB for some time is now on the verge of breaking higher Pushing above key resistance (around 31.606) exposes the July 2020 high at 31.858 towards peaks from the same year Learn more here - https://www.dailyfx.com/forex/technical/article/special_report/2021/06/15/US-Dollar-Technical-Outlook-USDSGD-USDTHB-USDIDR-USDPHP.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/nugdcoHDNy
Dollar Correction Continues; Dollar Index Breaks July Low

Dollar Correction Continues; Dollar Index Breaks July Low

Kevin Jin,

THE TAKEAWAY: Dollar Index drops to its lowest level since June 27 > US Existing Home Sales (MoM) (JUN) deflate in June—misses expectations

The USD is decisively lower after a large miss in US Existing Home Sales data: -1.2% m/m June actual; +1.5% Bloomberg News survey expected; +3.4% prior. Housing data has been optimistic in recent months so this contraction in sales may surprise some investors. However the USD was trading lower for much of the day, even before housing data was released. The Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) falls -57 (-0.52%) to $10766 at the time of writing.

Global markets are trading mixed. 1-week volatility in FX markets sharply declines. On the flip side, the implied volatility in equities, measured by the CBOE Volatility Index (VIX), is higher by +2.71% to 12.88 at the time of writing.

While the VIX is higher from its admittedly suppressed levels, equities are trading bullishly across the world: S&P +0.21%; Euro Stoxx +0.33%; FTSE -0.12%; Nikkei +0.47%; Hang Seng +0.25%; Bovespa +1.11%; Sensex +0.05%; Shanghai Composite +0.61% at the time of writing. Emerging markets, led by Brazil and China, seem to be performing well today.

In the government bond market, the spread between 10YR Spanish and German bonds has tightened by -6.0bps to 4.596% at the time of writing. Eurozone peripheral debt is fact performing very strongly today. 10YR government bond yields trade as follows: US -0.7bps (-0.28%) to 2.477%; Germany -0.3bps (-0.19%) to 1.515%; Italy -7.8bps (-1.77%) to 4.322%; Spain -6.6bps (-1.41%) to 4.595%; Portugal -43.1bps (-6.51%) to 6.187% at the time of writing. Portuguese debt has performed extremely well as of late-- yields are down from 7.646% on July 12.

Lastly in commodities, crude oil is lower as Brent resumes its premium over WTI: WTI -0.84%; Brent -0.38%; LME Copper +0.14%; COMEX Copper +1.78%; Shanghai Copper +0.48% at the time of writing.

AUDUSD 15-minute Chart: July 22, 2013

Dollar_Correction_Continues_Dollar_Index_Touches_Lowest_Level_Since_June_body_Picture_4.png, Dollar Correction Continues; Dollar Index Breaks July Low

Charts Created using Marketscopeprepared by Kevin Jin

The AUDUSD is rebounding nicely, up +0.92% on the day at the time of writing. The pair has traded stronger throughout the entirety of the day, with a -40 pip correction well in Asian trading. AUDUSD is now at its highest levels since July 17.

GBPUSD 15-minute Chart: July 22, 2013

Dollar_Correction_Continues_Dollar_Index_Touches_Lowest_Level_Since_June_body_Picture_3.png, Dollar Correction Continues; Dollar Index Breaks July Low

Charts Created using Marketscopeprepared by Kevin Jin

The GBPUSD extends its fifth day of gains, surging past $1.5300 early in London trading. The pair is net +0.64% at the time of writing, exhibiting muted downward pressure throughout trading. The cable is also at its highest level since June 26.

EURUSD 15-minute Chart: July 22, 2013

Dollar_Correction_Continues_Dollar_Index_Touches_Lowest_Level_Since_June_body_Picture_2.png, Dollar Correction Continues; Dollar Index Breaks July Low

Charts Created using Marketscopeprepared by Kevin Jin

The EURUSD is modestly +0.39% higher, tagging $1.3200 around 14:00 GMT (10:00 EDT on chart above) after the miss in US housing data. While the EUR is outperforming the USD today, the EUR is still lagging against most of the other major currencies.

USDJPY 15-minute Chart: July 22, 2013

Dollar_Correction_Continues_Dollar_Index_Touches_Lowest_Level_Since_June_body_Picture_1.png, Dollar Correction Continues; Dollar Index Breaks July Low

Charts Created using Marketscopeprepared by Kevin Jin

The yen is the strongest major currency today, gaining +1.05% relative to the USD at the time of writing. The pair quickly dropped below ¥100.00 early into Asian trading and was never able to reclaim that level. After consolidating for much of the day thereafter, the pair continued further declines shortly after New York Open.

--- Written by Kevin Jin, DailyFX Research

Are you new to trading the EUR/USD? Watch this.

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

DISCLOSURES