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
Oil - US Crude
Mixed
Wall Street
Mixed
Gold
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
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • WH Press Sec. Psaki: - More work remains on infrastructure after meeting - Today or tomorrow, a White House team will meet with Senators from both parties
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: US 500: 0.01% Wall Street: 0.01% Germany 30: -0.11% France 40: -0.19% FTSE 100: -0.27% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/HdfL6Ct6sE
  • McKesson said to explore sale of European, UK businesses -BBG $MCK $EURUSD $GBPUSD
  • EUR/GBP continues to trade towards the bottom of the trading range. Sentiment remains ‘mixed’ after near term decline in long positioning. Get your market updates from @RichardSnowFX here:https://t.co/i7uESnbkBE https://t.co/rdqrIAUnuG
  • @JohnKicklighter At the very least, it’s providing extra entertainment for us market junkies plugged into #Fed Chair Powell’s congressional testimony. Perhaps serving as a coping mechanism for HODL-ers as well. $BTCUSD #Bitcoin
  • U.K.-EU TRUCE LIKELY IN N.IRELAND TRADE DISPUTE, OFFICIALS SAY - BBG
  • Fed's Powell: - The Fed is prepared to utilize all of its tools to maintain inflation at or below 2% - It is extremely unlikely that inflation will be as high as it was in the 1970's
  • Fed's Powell: - Enhanced unemployment benefits may be a factor limiting job growth - In the fall, I believe we will see a lot more jobs being created
  • Fed's Powell: - On the employment front, we still have a long way to go - When the economy is healthier, we will focus on reducing government borrowing
  • So do crypto traders resort to making memes as they wait for the market to recover. The sheer volume of these memes is incredible to behold
USD Clears Resistance with DAX, Euro Stoxx 50 Unexpectedly Surging

USD Clears Resistance with DAX, Euro Stoxx 50 Unexpectedly Surging

Daniel Dubrovsky, Strategist

Asia Pacific Market Open Talking Points

  • Sentiment unexpectedly improved before Europe trade commenced, a clear catalyst seemed absent
  • British Pound weakness accelerated on soft UK GDP data, Asia Pacific stocks may see mixed day
  • US Dollar has best winning streak since 2016 as key resistance cleared, eyeing late 2018 highs

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

3 Things to Know Before Trading APAC Markets

1) Market Mood Improves During European Trade

After a rather mixed Asia trading session on Monday, market mood considerably improved heading into the European trading session. Several newswires attributed this to bets on a trade agreement between the US and China as Treasury Secretary Steven Mnuchin and Vice Premier Liu He head for talks later this week. That seemed doubtful.

Around 7:21 GMT (9 minutes before S&P 500 futures took off) China said that there is no information available on a meeting plan between presidents Donald Trump and Xi Jinping. What did cross the wires shortly before sentiment surged was a report from the Bank of France that its home economy is expected to grow 0.4% in the first quarter of 2019.

Since this would be a step towards avoiding a technical recession (after Italy went into one), it is not too surprising to see the DAX and Euro Stoxx 50 find gains of almost one percent each. What is more interesting is that the Euro and British Pound generally weakened as the US Dollar gained. Meanwhile, government bond prices from the world’s largest economy fell as stocks rose.

This perhaps supports the argument that as external risks for the Fed abate (in this case the reduction in bets on weakening growth from abroad), the US Dollar stands to gain the most. A considerably more dovish central bank leaves the greenback at a discount if rate hike bets get revived. This could leave equities more vulnerable down the road.

2) UK GDP Data Disappoints

After equities rallied and the British Pound headed lower, weakness in Sterling was amplified on softer-than-expected domestic economic growth data. The first estimate of Q4 GDP clocked in at 1.3% y/y versus 1.4% expected. By the end of the day, GBP/USD closed at its lowest since January 16 while the US Dollar took advantage of its weakness.

3) Monday’s Asia Pacific Trading Session

By Monday close, Wall Street showed a mixed trading session (similar to Friday’s). The S&P 500 was up +0.07% while the Dow Jones Industrial Average fell 0.21%. S&P 500 futures are little changed, suggesting another mixed day to come. The Australian Dollar may see some slight volatility if business confidence sours.

DXY TECHNICAL ANALYSIS

The DXY rallied 0.44%, extending its winning streak to 8 consecutive days (best since 2016) as prices closed at their highest this year thus far. Resistance was cleared at 96.68, exposing the November/December 2018 highs around 97.69. For more timely updates, you may follow me on twitter @ddubrovskyFX for the latest market moves.

DXY Daily Chart

Chart of DXY (Daily)

Chart created in TradingView

US Trading Session Economic Events

Please add a description for the image.

Asia Pacific Trading Session Economic Events

Please add a description for the image.

** 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 @ddubrovskyFXon Twitter

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

DISCLOSURES