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
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
Oil - US Crude
Mixed
Wall Street
Mixed
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • Australian Dollar to Rise as Easing Border Restrictions Buoy Sentiment - https://www.dailyfx.com/forex/market_alert/2020/11/26/Australian-Dollar-to-Rise-as-Easing-Border-Restrictions-Buoy-Sentiment.html $AUD $AUDJPY $AUDUSD https://t.co/izMcqggHOC
  • 🇰🇷 Interest Rate Decision Actual: 0.5% Expected: 0.5% Previous: 0.5% https://www.dailyfx.com/economic-calendar#2020-11-26
  • Bank of Korea: 2020 GDP growth seen at -1.1% versus -1.3% projected in August, 2021 GDP growth seen at 3.0% versus 2.8% anticipated prior -BBG
  • Heads Up:🇰🇷 Interest Rate Decision due at 01:00 GMT (15min) Actual: 0.5% Expected: 0.5% Previous: 0.5% https://www.dailyfx.com/economic-calendar#2020-11-26
  • 7 out of 11 Dow Jones sectors ended lower, with about 63.3% of the index’s constituents closing in the red. Energy (-3.64%) , materials (-2.25%) and communication services (-1.24%) were among the worst performers on Wednesday. https://t.co/5MfrUSOYw4
  • Australian Private Capital Expenditure -3.0% in Q3 vs -1.5% expected and from -6.4% in Q2 (revised worse from -5.9%), $AUDUSD little changed so far -BBG
  • RT @FxWestwater: New Zealand Dollar Forecast: $NZDUSD May Rise Over Thanksgiving Holiday Link: https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2020/11/26/New-Zealand-Dollar-Forecast-NZDUSD-May-Rise-Over-Thanksgiving-Holiday.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr https://t.co/dJMDOV…
  • The S&P 500, Dow Jones and crude oil prices have recently made critical advances to the upside. Is retail positioning supporting the case for further upside momentum?https://t.co/rfA2TsBctB https://t.co/D6bYpLxrKk
  • Update on #Cryptocurrencies #BITCOIN -0.85% #BITCOINCASH -4.66% #ETHEREUM -2.27% #RIPPLE -1.24% #LITECOIN -2.87%
  • An improving economic backdrop is bolstering crude oil prices and in turn, the Canadian Dollar. Still, the risk-sensitive Australian Dollar continues to move higher. Get your market update from @FxWestwater here:https://t.co/NJ683bZKpe https://t.co/4XfW9FjwWk
Graphic Rewind: Political Hopes and Fears Align US Dollar and S&P Trading

Graphic Rewind: Political Hopes and Fears Align US Dollar and S&P Trading

2013-10-07 16:15:00
Benjamin Spier, Technical Strategist
Share:

Talking Points:

  • US Dollar and S&P both rally Friday, then gap lower over the weekend
  • Failure to end a government shutdown brings the default possibility a step closer

A look back at the past 24 hours of Forex trading using movements in the US Dollar Index:

US Dollar 15-Minute 08:00 10/04 to 08:00 10/07 EST

Graphic_Rewind_Political_Hopes_and_Fears_Align_US_Dollar_and_SP_Trading_body_Picture_2.png, Graphic Rewind: Political Hopes and Fears Align US Dollar and S&P Trading

Charts created by Benjamin Spier using Marketscope 2.0

The Dow Jones FXCM Dollar Index rallied back above 10,500 on Friday, but erased much of those gains in a weekend gap, as traders’ hopes for a deal to finish the government shutdown waxed and waned. US equity markets also seemed to take a breather from worrying about the ongoing shutdown and found gains on Friday after two down days.

However, those worries seemed to return with a weekend gap lower in today’s US equities open. The government’s failure to pass a spending bill over the weekend now makes the possibility of a US debt default on October 17 a bit more real.

It was that rise and fall in equity markets that we also saw in US Dollar trading on Friday, and then again after the new week’s open. Below, I placed the S&P futures chart for the past few days next to US Dollar Index trading, and the Friday rally and weekend gap can be seen in both indexes.

Graphic_Rewind_Political_Hopes_and_Fears_Align_US_Dollar_and_SP_Trading_body_Picture_1.png, Graphic Rewind: Political Hopes and Fears Align US Dollar and S&P Trading

New to Forex? Watch this video

-- Written by Benjamin Spier, DailyFX Research. Feedback can be sent to instructor@dailyfx.com .

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

DISCLOSURES