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
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
Oil - US Crude
Bearish
Wall Street
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
Gold
Bearish
GBP/USD
Bearish
USD/JPY
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
More View more
Real Time News
  • 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: https://t.co/ZJOEtpGUIq https://t.co/TAMd7kPWFZ
  • What are some key news and factors affecting the #crudeoil market? Get your free forecast for this quarter here:https://t.co/WM6X6ENFM2 https://t.co/lynycOpL9B
  • 🇲🇽 Business Confidence (NOV) Actual: 42.4 Previous: 41.6 https://www.dailyfx.com/economic-calendar#2020-12-01
  • 🇲🇽 Business Confidence (NOV) Actual: 42.4 Previous: 41.6 https://www.dailyfx.com/economic-calendar#2020-12-01
  • $GBPNZD could be poised to extend its run to fresh yearly lows as price struggles to break back above the 78.6% Fib (1.9024) A push to challenge the 88.6% Fib (1.8676) looks on the cards if sellers can drive price below the November low (1.8896) $GBP $NZD #technicalanalysis https://t.co/DlRb2haxL6
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 94.09%, while traders in NZD/USD are at opposite extremes with 74.74%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/OiM0irh4dG
  • Heads Up:🇲🇽 Business Confidence (NOV) due at 12:00 GMT (15min) Previous: 41.5 https://www.dailyfx.com/economic-calendar#2020-12-01
  • Stock diversification can help investors through volatile periods within the stock markets. Get your guide to stock diversification here: https://t.co/is594vNNcT https://t.co/kUxUFk5TW0
  • Commodities Update: As of 11:00, these are your best and worst performers based on the London trading schedule: Silver: 3.23% Gold: 1.67% Oil - US Crude: 0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/EOQKtjK8EG
  • Forex Update: As of 11:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.31% 🇨🇭CHF: 0.29% 🇨🇦CAD: 0.23% 🇬🇧GBP: 0.12% 🇦🇺AUD: 0.05% 🇯🇵JPY: -0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/eI4xtkV6Gd
USD/JPY, AUD/USD, NZD/USD Sink as Coronavirus Cases Surge Nearly 15k

USD/JPY, AUD/USD, NZD/USD Sink as Coronavirus Cases Surge Nearly 15k

2020-02-13 00:00:00
Daniel Dubrovsky, Analyst
Share:

Japanese Yen, New Zealand Dollar, Australian Dollar, Coronavirus – Asia Pacific Market Open

YEN GAINS AS CHINA REVISES METHOD FOR COUNTING CORONAVIRUS, CASES RISE

The anti-risk Japanese Yen is gaining in early Thursday Asia trade after China revised the method for counting coronavirus cases, resulting in an additional 14,840 confirmed reports in Hubei. This is as the pro-risk Australian Dollar and similarly-behaving New Zealand Dollar are depreciating with S&P 500 futures pointing noticeably lower. Sentiment-linked crude oil prices are down with anti-fiat gold prices on the rise.

The focus for foreign exchange markets will thus likely be on risk trends as the new day gets going. Investors have been largely brushing off concerns about the impact of the Wuhan virus on global growth as of late and follow-through is not a guarantee at this point. The Australian Dollar may look past commentary from RBA Governor Philip Lowe who is due to speak at a panel.

Forex for Beginners
Forex for Beginners
Recommended by Daniel Dubrovsky
Forex for Beginners
Get My Guide

S&P 500 Futures, AUD/USD, USD/JPY Dip Amid Surge in Wuhan Virus Cases

USD/JPY, AUD/USD, NZD/USD Sink as Coronavirus Cases Surge Nearly 15k

Chart Created Using TradingView

US Session Wrap – New Zealand Dollar, RBNZ, Crude Oil Prices

The New Zealand Dollar was the best-performing major currency on Wednesday as the Euro closed at its lowest since 2017 following softer regional industrial production. A neutral RBNZ monetary policy announcement largely dashed hopes of near-term easing, sending local government bond yields higher and thus NZD/USD. Overnight index swaps are now pricing in just a 37.4% chance of a 25-bp cut by November.

Market improved as investors brushed off concerns about the impact of the coronavirus on global growth which is now at risk. The S&P 500 and Dow Jones closed 0.65% and 0.94% higher respectively. This did not bode well for the anti-risk Japanese Yen. The sentiment-linked Australian Dollar and similarly-behaving New Zealand Dollar received a boost. These dynamics lead to NZD/USD’s best day since December as it rose over 1%.

Starts in:
Live now:
Dec 02
( 01:12 GMT )
Recommended by Daniel Dubrovsky
What Do Other Traders Buy/Sell Bets Say About Price Trends?
Register for webinar
Join now
Webinar has ended

Sentiment-oriented crude oil prices also received a boost and looked past weaker demand growth estimates from OPEC due to the Wuhan virus. The Canadian Dollar followed the commodity to the upside, extending the decline in USD/CAD following bearish technical signals. Crude is a key source of revenue for Canada and can impact the trajectory of monetary policy expectations, resulting in CAD volatility.

New Zealand Dollar Technical Analysis

Despite the RBNZ and with the Wuhan virus back in focus, the dominant downtrend still holds in my majors-based New Zealand Dollar index. That is being maintained by falling resistance from late December – pink line on the chart below. Downtrend resumption entails taking out the January low after prices cleared rising support from October.

NZD/USD MIXED
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily 0% 8% 6%
Weekly 11% 10% 10%
What does it mean for price action?
Get My Guide

Majors-Based New Zealand Dollar Index

USD/JPY, AUD/USD, NZD/USD Sink as Coronavirus Cases Surge Nearly 15k

Chart Created Using TradingView

--- 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