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
More View more
Real Time News
  • 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/kODPAfs2Iz https://t.co/DfG4YuKM4U
  • Wall Street Futures Update: Dow Jones (+0.03%) S&P 500 (-0.11%) Nasdaq 100 (-0.28%) [delayed] -BBG
  • Volatility follows the FOMC's slow approach to its second taper, but neither the Dollar nor the S&P 500 have held their charge. With US GDP ahead, expect the echoes of the central bank's warnings and watch $EURUSD and $USDCAD https://www.dailyfx.com/forex/video/daily_news_report/2021/07/29/EURUSD-Slow-Trigger-Reversal-and-USDCAD-Yet-to-Detonate-After-Fed-Before-US-GDP.html https://t.co/BCUTSX0WNY
  • China to continue allowing Chinese companies to IPO in US exchanges - CNBC via BBG
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Silver: 0.85% Gold: 0.46% Oil - US Crude: 0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/9QGWRaUfmI
  • The Swiss Franc’s technical stance against the New Zealand Dollar and Japanese Yen has brightened, with the technical outlook in NZD/CHF and CHF/JPY primed to benefit CHF. Get your market update from @FxWestwater here:https://t.co/u4GY00QpgC https://t.co/O9WscGjkwH
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.17% 🇬🇧GBP: 0.09% 🇨🇭CHF: 0.04% 🇳🇿NZD: 0.03% 🇪🇺EUR: 0.03% 🇦🇺AUD: -0.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/HNdAAVxqEA
  • (Gold Briefing) Gold Price Outlook Shifts Rosy Post FOMC, XAU/USD Eyeing US GDP Data Next #Gold #XAUUSD #GDP #Fed #FOMC https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/commodities/2021/07/29/Gold-Price-Outlook-Shifts-Rosy-Post-FOMC-XAUUSD-Eyeing-US-GDP-Data-Next.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/EyIGPFRoQW
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 94.18%, while traders in France 40 are at opposite extremes with 69.12%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/I4p1Eqw06i
  • The US Dollar may remain on the offensive against ASEAN currencies amid Covid case growth and regional lockdown risks that threaten growth. All eyes are also on the Federal Reserve.Get your market update from @ddubrovskyFX here:https://t.co/f0crShr7Cf https://t.co/gqhdotvXG0
Asia Stocks at Risk as S&P 500 Trims Gains on Solid US Jobs Data

Asia Stocks at Risk as S&P 500 Trims Gains on Solid US Jobs Data

Daniel Dubrovsky, Strategist

Asia Pacific Market Open Talking Points

  • Stellar US jobs report leaves US Dollar, bond yields higher as S&P 500 falls behind
  • Anti-risk Japanese Yen falls as Canadian Dollar soars with OPEC output reduction
  • Asia Pacific stocks at risk as sentiment sours, ASX 200 upside momentum still fading

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

The anti-risk Japanese Yen underperformed against its major counterparts, weakening particularly during the first half of Friday’s US trading session. A largely stellar local jobs report bolstered sentiment as the S&P 500 soared alongside the US Dollar and falling government bond prices.

Sentiment-linked oil prices also skyrocketed. Shortly before US market open, OPEC reported that monthly production fell by the most in two years. As such, the Canadian Dollar edged cautiously higher against its major peers. Petroleum is a major source of revenue in Canada.

By the end of the day, the US Dollar maintained its rise and so too did local bond yields. The same could not be said for the S&P 500 which trimmed gains to the point it only ended 0.09% higher. In fact, strong domestic data and improvements in external headwinds could be a source of hesitation for US equities.

These seemed to be underpinned by the US unemployment report and what seemed to be progress towards a trade deal with China. Albeit, an outcome on the latter has been pushed back as markets anxiously await resolution. Given these developments, Asia Pacific stocks may struggle following Wall Street higher.

ASX 200 Technical Analysis

Australia’s ASX 200 continues struggling to breach a prominent resistance barrier between 5,911 and 5,942. Time may be running out for the index until it turns lower. Negative RSI divergence warns that upside momentum is fading. Near-term support seems to be the February 2018 lows around 5,795.

ASX 200 Daily Chart

Asia Stocks at Risk as S&P 500 Trims Gains on Solid US Jobs Data

Chart created in TradingView

US Trading Session

Asia Stocks at Risk as S&P 500 Trims Gains on Solid US Jobs Data

Asia Pacific Trading Session

Asia Stocks at Risk as S&P 500 Trims Gains on Solid US Jobs Data

** 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