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.

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
Bullish
Oil - US Crude
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
Wall Street
Bearish
Gold
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
GBP/USD
Bearish
USD/JPY
Bearish
More View more
Notice

BoE Chief Econimist (Hawk) is to Step Down From BoE After June Meeting

Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.42%, while traders in Germany 30 are at opposite extremes with 75.32%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/4n1rSAR7VD
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Silver: 2.20% Oil - US Crude: 0.88% Gold: 0.69% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/eTA7lkr4LN
  • Among the exceptions, Bitcoin continues to power ahead and IG client sentiment data are sending a bearish signal on GBP/JPY. Get your $GBPJPY market update from @MartinSEssex here:https://t.co/YbeAlUh70c https://t.co/QStrfTiK5D
  • - Supply shortages could limit GDP upside - Expecting consumer-price pressures this year - Long-term disinflationary forces should modulate prices
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.27% 🇯🇵JPY: 0.20% 🇨🇦CAD: 0.20% 🇨🇭CHF: 0.15% 🇦🇺AUD: 0.15% 🇬🇧GBP: 0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/SOlcl3sqbU
  • Fed's Barkin: - Hopeful that US is on brink of completing recovery - Expecting "really strong" spring and summer - Real-time indicators suggests US is "in midst of boom" #Fed $USD
  • Fed's Harker: - No reason to withdraw support yet, recovery remains in early stages - Good reason to expect recovery in 2021 - US GDP should grow 5-6% this year - Expecting unemployment rate to continue to decline #Fed $USD
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: France 40: 0.25% US 500: 0.11% FTSE 100: -0.07% Germany 30: -0.08% Wall Street: -0.38% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/az0ACroYJd
  • Hey traders! Get your Tuesday market update on what event risks we are witnessing - Chinese trade figures, UK data & US CPI from @DailyFX Chief Strategist @JohnKicklighter 👇 https://t.co/cj5gu1zwKT
  • Heads Up:🇺🇸 Fed Harker Speech due at 16:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-04-13
US Dollar, Yen Sank as S&P 500 Hit Record. AUD 2018 Trend Line Eyed

US Dollar, Yen Sank as S&P 500 Hit Record. AUD 2018 Trend Line Eyed

Daniel Dubrovsky, Strategist

Asia Pacific Market Open Talking Points

  • The anti-risk US Dollar and Japanese Yen weakened as stocks rallied
  • China PMI, US jobs report and trade deal hopes fueled risk appetite
  • AUD/USD closes in on 2018 falling resistance, will downtrend resume?

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

Yen Weakens as S&P 500 Hits Record, US Dollar Falls Despite Jobs Beat

The anti-risk Japanese Yen fell against its major counterparts on Friday as a pickup in market mood undermined the need for capital safety. It began during the Asia Pacific trading session with a 20-month high in Caixin PMI data, cooling woes about the health and vigor of the world’s second-largest economy amid an ongoing trade war. The sentiment-linked Australian and New Zealand Dollars gained.

Then, stocks received a further boost as better-than-expected US NFPs crossed the wires. While this helped diminish near-term Fed rate cut bets, the US Dollar eventually gave up gains on the jobs report as stocks rallied. The S&P 500 closed 0.97 percent to the upside, hitting another record high as the MSCI Emerging Markets Index hit its best price since July.

US-China trade deal bets were also afoot as Beijing announced that it reached a consensus in principle with the United States. This followed a “constructive” phone call between Trade Representative Robert Lighthizer and Vice Premier Liu He. However, risk appetite somewhat cooled towards the end of Friday’s session as White House Economic Adviser Larry Kudlow said that tariff hikes could “still be on the table”.

Monday’s Asia Pacific Trading Session

With that in mind, the focus for foreign exchange markets will likely be on risk trends at the onset of the new week. Regional bourses may follow Wall Street higher, paving the way for further gains in the Australian Dollar. AUD/USD will also be closely watching local retail sales data for Q3. The anti-risk Japanese Yen may extend losses.

Australian Dollar Technical Analysis

The AUD/USD sits just under key descending resistance from December 2018 after clearing the September high. A daily close above 0.6930 with upside confirmation may open the door to a reversal of the dominant downtrend. Otherwise, a turn lower places the focus on a rising support channel from the beginning of October.

Chart of the Day – AUD/USD Daily

US Dollar, Yen Sank as S&P 500 Hit Record. AUD 2018 Trend Line Eyed

Chart Created Using TradingView

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