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
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
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
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
GBP/USD
Bearish
USD/JPY
Mixed
More View more
Real Time News
  • The Spinning Top candlestick pattern forms part of the vast Japanese candlestick repertoire with its own distinct features. Gain a better understanding of the spinning top candlestick here: https://t.co/DWm7cBMUg9 https://t.co/5KaUvfGM4I
  • There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency is the fundamental factor that prevails above them all. Learn how interest rates impact currency markets here: https://t.co/J0EPMD2Cfi https://t.co/9Bjkh5413e
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here: https://t.co/BdgFmkRxVw https://t.co/FqAsp91Gia
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/cKOUmtj7Dj
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/Yl9vM7kO6a https://t.co/TnL91f7sl7
  • Human error in the forex market is common and often leads to familiar trading mistakes. These trading mistakes crop up particularly with novice traders on a regular basis. Learn about the top ten trading mistakes and how you can avoid them here: https://t.co/i8E2AXtzF3 https://t.co/cDcjl3Ue09
  • Consolidation or bull flag? A bull flag is a continuation pattern that occurs as a brief pause in the trend following a strong price move higher. Learn how to better spot these formations here: https://t.co/yOEvLjKnct https://t.co/KWOX5wSipe
  • What is your forex trading style? Take the quiz and find out: https://t.co/YY3ePTpzSI https://t.co/cwSWCpKtaj
  • Japanese candlesticks are a popular charting technique used by many traders, and the shooting star candle is no exception. Learn about the shooting star candlestick and how to trade it here: https://t.co/mfwJ0sZLTs https://t.co/zu5hMovbz6
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here: https://t.co/QszmdZFxlk https://t.co/QMKyTBOKNG
EUR/USD Down, US-China Trade Deal Pushed Back. ASX 200 May Fall

EUR/USD Down, US-China Trade Deal Pushed Back. ASX 200 May Fall

Daniel Dubrovsky, Strategist

Asia Pacific Market Open Talking Points

  • Euro leads losses in majors as Italy enters technical recession, sparks budget fears
  • New Zealand Dollar climbs with S&P 500. US-China trade deal delay hurts Dow
  • AUD/USD eyes China Caixin PMIs, ASX 200 bearish reversal threat increases

Trade all the major global economic data live and interactive at the DailyFX Webinars. We’d love to have you along.

The Euro was the worst performing major on Thursday as Italy entered a technical recession. In addition to the complications that this presents, it could also add further pressure to EUR/USD down the road if this reignites budget disputes with Brussels.

Meanwhile the pro-risk Australian and New Zealand Dollars continued to benefit from rising stocks and the aftermath of a relatively dovish Fed. The S&P 500 soared about 0.86%, supported by upbeat earnings reports from General Electric and Facebook.

All was not well on Wall Street though, the Dow Jones ended 0.06% lower after gapping to the downside. This may have been due to US-China trade talks being extended. Before market open, President Donald Trump said that no final deal will be made until he meets with China’s President Xi Jinping.

This is expected to occur at some time in the “near future” and continues to prolong the wait to see if the trade war will come to an end. Still, Mr. Trump did say that the meetings are “going well with good intent and spirit on both sides”.

Asia Pacific stocks look to be set for a relatively quiet open, S&P 500 futures are little changed. China’s Caixin Manufacturing PMIs will cross the wires at 1:45 GMT. These offer a closer sense of how the private sector is faring amidst the ongoing trade war and may have knock-on effects for AUD/USD.

ASX 200 Technical Analysis

Since bottoming in December 2018, the ASX 200 seems to be struggling to make further upside progress in its uptrend which was initiated by an inverse head and shoulders pattern. Negative RSI divergence shows that upside momentum is fading and it can precede a turn lower. Near-term support is at 5,795.

ASX 200 Daily Chart

EUR/USD Down, US-China Trade Deal Pushed Back. ASX 200 May Fall

Chart created in TradingView

US Trading Session

EUR/USD Down, US-China Trade Deal Pushed Back. ASX 200 May Fall

Asia Pacific Trading Session

EUR/USD Down, US-China Trade Deal Pushed Back. ASX 200 May Fall

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

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