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.

Free Trading Guides
EUR/USD
Mixed
GBP/USD
Bullish
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
USD/JPY
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
Gold
Mixed
Oil - US Crude
Mixed
Bitcoin
Bearish
More View more
Real Time News
  • The $AUD erased half of November’s down move in a mere two days but the dominant trend bias continues to favor weakness ahead. Get your market update from @IlyaSpivak here:https://t.co/ShYksfNXyS https://t.co/OVhyNgLRn5
  • We were almost there, but the $SPX fell short of a >1.0% daily change. That raises the tally to 39 consecutive trading days without a climb or fall of even a moderate measure https://t.co/ibt82dBGmh
  • En español: El oro tropieza y se precipita en caída libre. ¿Qué explica las pérdidas del metal dorado y la alta volatilidad en los mercados financieros? #XAUUSD #trading $gold https://t.co/Hdsd0z1qih https://t.co/WKnGaABVS8
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.35% 🇦🇺AUD: 0.17% 🇯🇵JPY: 0.14% 🇨🇭CHF: -0.30% 🇪🇺EUR: -0.38% 🇨🇦CAD: -0.59% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/lrSRyCHLjw
  • Martin Guzman named as Argentina's new Minister of Economy $USDARS
  • YouGov poll finds 52% for Johnson winning debate vs 48% for Corbyn $GBPUSD
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.15% Gold: -1.07% Silver: -2.28% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/MUWxfLEsGn
  • $GBPJPY: Any close above 143.19 could embolden more market’s participants to push towards the vicinity of 144.80-94. Get your technical analysis from @malkudsi here:https://t.co/eYpmPx1pKg https://t.co/7g2rhlfzaB
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 98.09%, while traders in France 40 are at opposite extremes with 78.67%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/ZLq5jhfPrP
  • UK PM Johnson says failure to exit the EU has cause much bitterness $GBPUSD
Franc Gains as EURCHF, USDCHF Sink. US Dollar Rising Support Held

Franc Gains as EURCHF, USDCHF Sink. US Dollar Rising Support Held

2019-06-20 23:00:00
Daniel Dubrovsky, Analyst
Share:

Asia Pacific Market Open Talking Points

  • Anti-risk Swiss Franc outperforms, even against the Japanese Yen
  • US Dollar extends declines but unable to breach rising support again
  • S&P 500 futures pointing lower, pro-risk AUD and NZD may fall

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.

The anti-risk Swiss Franc outperformed against its major counterparts on Thursday despite an overall uptick in sentiment, even outperforming the similarly-behaving Japanese Yen. Franc gains picked up against the Yen heading into the European trading session as Nikkei 225 and S&P 500 futures pushed higher in the aftermath of a dovish Fed interest rate announcement, perhaps reflecting Yen-based carry demand.

Then, EURCHF sunk and closed at its lowest since July 2017 on the 15-minute chart below. Equities cautiously retreated on US-Iran tension fears during the Wall Street trading session. US President Donald Trump tweeted that we will “soon find out” if the nation will strike Iran after it reportedly shot down a US drone. USDCHF closed at its lowest since the beginning of this year.

EURCHF 15-Minute Chart

Franc Gains as EURCHF, USDCHF Sink. US Dollar Rising Support Held

Speaking of the US Dollar, the Greenback continued depreciating and was the worst-performing major. It tracked ongoing declines in US government bond yields as the markets confidently price in the first Fed rate cut since 2008 next month. The S&P 500 closed eight points above highs in April, making for a new record as the Dow Jones rose about one percent.

US Dollar Technical Analysis

The DXY, while succumbing to selling pressure, was unable to clear the rising trend line from September 2018 on the daily chart below. This continues to further solidify support. Meanwhile, positive RSI divergence shows fading downside momentum which can precede a turn higher. Near-term resistance appears to be around 97.52.

DXY Daily Chart

Franc Gains as EURCHF, USDCHF Sink. US Dollar Rising Support Held

*Chart Created in TradingView

Friday Asia Pacific Session

Despite the gains in equities, S&P 500 futures are now pointing decisively lower heading into Friday’s Asia Pacific trading session. This could be due to traders hesitation to commit to upside breakouts in equities ahead of next week’s G20 summit where we will get a better idea of where US-China trade tensions could go. This leaves the pro-risk Australian and New Zealand Dollars vulnerable in the near-term.

FX Trading Resources

--- Written by Daniel Dubrovsky, 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

News & Analysis at your fingertips.