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.



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
Oil - US Crude
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
Wall Street
More View more
Real Time News
  • Gold is facing the neckline of a Double Bottom Pattern after bouncing off a confirmed longer-term trendline. Is a bullish reversal in order? Get your market update from @FxWestwater here:
  • Central banks often deem it necessary to intervene in the foreign exchange market to protect the value of their national currency. Learn how central bank intervention can impact your trading here:
  • Rollover is the interest paid or earned for holding a currency spot position overnight. Learn how to earn rollover interest on your open positions here:
  • The New Zealand Dollar is in a tricky spot. On one hand, rising stocks can propel NZD. On the other, a dovish RBNZ ahead could cool bond yields as the government tackles soaring housing costs. Get your market update from @ddubrovskyFX here:
  • 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:
  • It was a big Q1 for $USDJPY but so far Q2 has been a far different tone. Which side will prevail? Get your market update from @JStanleyFX here:
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here:
  • The RBA highlighting several key risks to the local economy in its semi-annual FSR may drive AUD lower against haven-associated currencies despite the expectation of strong Q1 GDP figures out of China. Get your market update from @DanielGMoss here:
  • Get your snapshot update of the of relative currency strength and exchange status from around the globe here:
  • Though the $SPX hit a record high through Friday, there was little momentum and far less correlation across various risk assets. Can we find more serious traction - or a reversal - amid earnings, inflation-Fed forecasting, US-China trade negotiations?
NZD/CAD Near Breakout, Sentiment Warns of Crude Oil Price Reversal

NZD/CAD Near Breakout, Sentiment Warns of Crude Oil Price Reversal

Daniel Dubrovsky, Strategist

Asia Pacific Market Open Talking Points

Trade all the major global economic data live as it populates in the economic calendar and follow the live coverage for key events listed in the DailyFX Webinars. We’d love to have you along.

FX News Monday

The Canadian Dollar was the best-performing major on Monday, climbing alongside the best day for crude oil prices in three weeks. Canada is a major producer of the commodity, thus higher oil prices can have knock-on impacts on economic activity and inflation, causing the central bank to adjust monetary policy. Expectations of a Bank of Canada rate cut by September have been fading since late March.

Oil prices rallied on Monday amidst reports, which have now been confirmed by US Secretary of State Mike Pompeo, that the nation is planning on ending Iran sanction waiverson imports of the commodity. Mr Pompeo noted that this is anticipated to come to a ‘full stop’ after the May expiration. Much remains ahead for the commodity this week such as energy sector earnings and US trade talks with Japan.


The New Zealand Dollar is at a critical turning point against the Canadian Dollar. On the chart below, NZD/CAD is on the outer boundaries of support at 0.8913. If broken, the pair may enter a new dominant downtrend that would be in line with one of my top trading opportunities for this year. Meanwhile, a falling resistance line from late March seems to be keeping NZD/CAD’s steady descent since then intact.

NZD/CAD Daily Chart

NZD/CAD Near Breakout, Sentiment Warns of Crude Oil Price Reversal

Chart Created in TradingView

Thanks to a dose of risk aversion during Monday’s Asia Pacific trading hours, the highly-liquid US Dollar narrowly outperformed against its major counterparts. But follow-through in equities to the downside somewhat faded later in the day as the S&P 500 closed just 0.1% to the upside. Not surprisingly, energy shares (+2.05%) propelled the index higher with communication services trailing far behind (+0.73%).

Tuesday’s Asia Pacific Trading Session

S&P 500 futures are little changed heading into Tuesday’s session during a week that is somewhat quieter in terms of economic event risk. Later on, we will get New Zealand credit card spending data, but NZD/USD may focus more on how equities perform as a risk-sensitive currency pair. Ahead, sentiment readings do warn that crude oil prices may be readying up to turn lower. If true, CAD may reverse some of its gains.

Want to learn more about how sentiment readings may drive crude oil prices? Tune in each week for live sessions as I cover how sentiment can be used to identify prevailing market trends!

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.