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
  • 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
  • Get your snapshot update of the of market open and closing times for each major trading hub around the globe here: https://t.co/BgZLFljIhZ https://t.co/YjUfOUY3vU
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.30% 🇨🇭CHF: -0.41% 🇬🇧GBP: -0.62% 🇨🇦CAD: -1.12% 🇳🇿NZD: -1.87% 🇦🇺AUD: -2.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/ZdHY0q1ocW
  • #Gold Price Forecast: Gold Breakdown Accelerates – $XAUUSD Bulls Done? - https://t.co/uATlmZg8g6 https://t.co/vIbhg5HOko
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.20% Gold: -2.10% Silver: -2.97% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/UVS4Dowq2o
  • Nasdaq ETF QQQ sees its largest outflow in a month as investors shied away from tech stocks. Get your #Nasdaq market update here:https://t.co/tQU09WVHMD https://t.co/onCVQl0xay
Risk Aversion Lingers, Asia Stocks and Australian Dollar at Risk

Risk Aversion Lingers, Asia Stocks and Australian Dollar at Risk

Daniel Dubrovsky, Strategist

Asia Pacific Market Open – Canadian Dollar, BoC, Risk Aversion, Australian Dollar, Japanese Yen

  • Canadian Dollar plunged across the board on less hawkish BoC monetary policy announcement
  • Risk aversion still engulfed financial markets, US ones were closed. USD edged cautiously higher
  • Dow futures pointing lower, Asia stocks at risk. Japanese Yen could gain as AUD extends selloff

Find out what the #1 mistake that traders make is and how you can fix it!

With US markets closed for a national day of mourning for former President George H.W. Bush, intense FX volatility could be found externally and from their northern neighbors. The Canadian Dollar plunged across the board, weakened by a relatively less hawkish BoC monetary policy announcement. The probability of a hike in January next year dropped all the way to 26.4% from 66% at the end of last week.

In short, the central bank expects CPI to ease in the coming months, adding that there could be more room for non-inflationary growth. However, they are still committed to raising rates ‘into a neutral range’ and that the future policy stance depends on oil, investment and capacity. Speaking of, crude oil prices swung as OPEC+ members recommended production cuts, but an agreement was not made on the size.

The pro-risk Australian Dollar accelerated its downside momentum as anticipated following a lackluster local third quarter GDP report. Reports that China swung into action to implement trade reforms with the US to avoid tariffs during the 90-day ceasefire ultimately failed to cool risk aversion. Asian and European benchmark stock indexes finished the day lower. The US Dollar ended cautiously higher, benefiting from its safe haven status.

As we head into Thursday’s Asia Pacific trading session, Dow Futures are pointing lower following the selloff in non-US stocks Wednesday. Fears of global growth slowing down and early signs of an inversion in the US yield curve seem to be weighing on sentiment. With that in mind, Asia/Pacific equities may trade lower, boosting the anti-risk Japanese Yen.

Meanwhile the Aussie Dollar awaits trade balance and retail sales data. With yesterday’s disappointing GDP report, local economic news flow has been tending to underperform relative to economists’ expectations as of late. This opens the door to a downside surprise here, further pushing out 2019 RBA rate hike bets. Overnight index swaps are pricing in a 50% chance of one in December of next year.

US Trading Session

Risk Aversion Lingers, Asia Stocks and Australian Dollar at Risk

Asia Pacific Trading Session

Risk Aversion Lingers, Asia Stocks and Australian Dollar at Risk

** All times listed in GMT. See the full economic calendar here

Fundamental Forecast

CAD Bracing for Volatility: BoC Hold, Jobs Report, OPEC Oil Cuts?

FX Trading Resources

--- Written by Daniel Dubrovsky, Junior Currency Analyst for DailyFX.com

To contact Daniel, use the comments section below or @ddubrovskyFX on Twitter

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

DISCLOSURES