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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Wall Street
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
  • 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:
  • The Federal Reserve rate decision is likely to sway the near-term outlook for the price of gold as the central bank appears to be on track to scale back monetary support. Get your weekly gold forecast from @DavidJSong here:
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here:
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here:
  • 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:
  • Get your snapshot update of the of top level exchanges and key index performance from around the globe here:
  • RT @FxWestwater: Japanese Yen Forecast: JPY Crosses Eye BoJ, CPI as Haven Flows Bolster Yen Strength Link: https:/…
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here:
  • Stocks appear to be in a corrective phase but could get put to the test; levels and lines to watch in the days ahead. Get your weekly equities forecast from @PaulRobinsonFX here:
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here:
USD, CAD Fall. S&P 500 Uptrend Aims for Record High. Yen at Risk

USD, CAD Fall. S&P 500 Uptrend Aims for Record High. Yen at Risk

Daniel Dubrovsky, Strategist

Asia Pacific Market Open Talking Points

  • US and Canadian Dollars sink on softer economic data
  • S&P 500 cleared key resistance, aiming for record highs
  • Anti-risk Japanese Yen may weaken as Asia stocks rise

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

Key FX Developments Friday

The US and Canadian Dollars were the worst-performing major currencies on Friday. Albeit, it was not by that much. Declines were due to softer-than-expected data. In the US, industrial production clocked in at 0.1% m/m in February versus 0.4% expected. In Canada, existing home sales slumped 9.1% m/m in the same month, much more severe than the 4.0% contraction expected and the sharpest since January 2018.

Weaker industrial production out of the US follows data tending to underperform relative to economists’ expectations since February. Front-end government bond yields in both the United States and Canada declined, signaling increasingly dovish monetary policy expectations (see immediate chart below). This seemed to also have an impact on equities.

USD, CAD Fall. S&P 500 Uptrend Aims for Record High. Yen at Risk

Chart Created in TradingView

S&P 500 Technical Analysis

Yes, the S&P 500 rose 0.50% as it achieved its highest close since October 2018, but more importantly it just barely cleared critical resistance on the chart below at 2824. I am using futures as they offer a more liquid view with afterhours-trade. Confirming another close to the upside opens the door to testing record-highs set back in September before the notorious 20% correction that wiped out its upside progress last year.

Negative RSI divergence does show that upside momentum is fading, risking a turn lower in the near-term. That places support as a horizontal range between 2726.50 and 2743.75, which is the furthest the index got after the break under the rising wedge bearish reversal pattern. Clearing this area opens the door to testing 2695.50 thereafter.

S&P 500 Daily Chart

USD, CAD Fall. S&P 500 Uptrend Aims for Record High. Yen at Risk

Chart Created in TradingView

Monday’s Asia Pacific Trading Session

Aside from a slew of Japanese economic data, which often has a minimal impact on USD/JPY, the docket is relatively light. This places the focus on risk trends. Asia Pacific benchmark stock indexes may echo the gains seen on Wall Street, especially as markets price in more dovish central banks. This week contains the Federal Reserve and Bank of England rate decisions. If this is the case early into the week, we may see the anti-risk Japanese Yen weaken while the pro-risk Australian and New Zealand Dollars push higher.

US Trading Session Economic Events

USD, CAD Fall. S&P 500 Uptrend Aims for Record High. Yen at Risk

Asia Pacific Trading Session Economic Events

USD, CAD Fall. S&P 500 Uptrend Aims for Record High. Yen at Risk

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

FX Trading Resources

--- Written by Daniel Dubrovsky, Junior Currency Analyst for

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.