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
  • Crude and Brent oil are on track to extend higher as Gulf Coast supply disruptions and a positive OPEC report bolster sentiment. Uranium is on a massive surge, aided by the famous Wall Street Bets group. Get your market update from @FxWestwater here:
  • RT @michaeljburry: Read thread.
  • The Australian Dollar has retraced from August lows when looking at AUD/JPY and AUD/CAD. However, the AUD/NZD downtrend is intact, will a reversal there appear as well? Find out:
  • The S&P 500, Dow Jones and DAX 30 could be at risk of falling as retail traders continue increasing their upside exposure in these indices. What are the key technical levels to watch for? Find out from @ddubrovskyFX here:
  • The US Dollar continues to hold its ground against most ASEAN currencies as recent downtrends lose momentum. What is the road ahead for USD/SGD, USD/THB, USD/PHP and USD/IDR? Find out from @ddubrovskyFX here:
  • The Canadian Dollar has been caught in broad ranges against the Euro and the US Dollar, but can the upside bias in USD/CAD and EUR/CAD prolong? Find out here:
  • Want to hear my thoughts on the US Dollar? Check out yesterday's recording with #AuzBiz hosted by @KaraOrdway on 'The Trade' We discussed a #USD index, Treasury yields, $USDJPY, $AUDUSD and $NZDUSD
  • Gold has plunged nearly 5% off the Monthly high with the sell-off now probing key weekly support here at 1738/47- looking for a pivot here with the Fed interest rate decision on tap. Get your $XAUUSD market update from @MBForex here:
  • Feels like the market has been front-running next week’s FOMC announcement, which will reveal updated dot plot projections. Expectations clearly set for a more hawkish shift in guidance. That said, if the Fed does not deliver, US Dollar bulls could be disappointed. $USD $DXY
  • USD/CAD has been chopping around the past week-and-a-half, offering virtually no cues on its next direction. Get your market update from @PaulRobinsonFX here:
Dollar May Rise, Breakout in Focus. USD/JPY Has Best Day Since 2013

Dollar May Rise, Breakout in Focus. USD/JPY Has Best Day Since 2013

Daniel Dubrovsky, Strategist

US Dollar, Japanese Yen, USD/JPY, Dow Jones, Fiscal Stimulus – Asia Pacific Market Open

  • US Dollar appreciates, particularly versus the Japanese Yen and Euro
  • Trump payroll tax waiver bets pushed USD/JPY to best day since 2013
  • Equities likely want fiscal expediency, Democratic primary may sink Yen

Tuesday’s Wall Street Session Recap

The US Dollar was the best-performing major on Tuesday while the anti-risk Japanese Yen suffered the most. Combined this meant the single-largest rally in USD/JPY (+2.9%) since April 2013, or in almost 7 years. The catalyst for the move seemed to be a broad “risk-on” tone which resulted in the Dow Jones and S&P 500 closing +4.89% and +4.94% to the upside respectively.

Fueling gains in equities were prospects of fiscal stimulus from the world’s largest economy. Yesterday, President Donald Trump teased possible measures which sank gold prices while fueling crude oil gains – as expected. Today it was revealed that he is looking to potentially waive payroll taxes until the presidential election towards the end of the year. Rising government bond yields likely reflected less-dovish Fed bets.

Gains in WTI arguably capped recent aggressive selling pressure in the Canadian Dollar, though USD/CAD still aimed higher. The commodity is a key source of revenue in Canada and oil’s decline has arguably added pressure on the BoC to ease policy further. Where the Greenback also shined was against the Euro and British Pound. EUR/USD had its largest daily rally since January 2018.

Wednesday’s Asia Pacific Trading Session

Despite fiscal stimulus prospects, S&P 500 futures are now pointing notably lower into Wednesday’s Asia Pacific trading session. It is unclear at this point how much mere expectations of fiscal stimulus can drive up equities and bolster sentiment. The markets could be looking for expediency and the longer it takes to implement these measures, the more at risk local economic health is with monetary policy at its limits.

Worryingly Donald Trump was absent from Tuesday’s coronavirus press conference in the White House, something which was talked up over the past 24 hours. A cautious “risk-off” tilt ahead may sap some of the upside potential in regional exchanges as the Nikkei 225 and ASX 200 attempt to bounce.

An upside push in stocks may come from Joe Biden pulling ahead of Bernie Sanders as 6 states host Democratic primaries and results come in over the near term. That could sap some strength in the Japanese Yen while perhaps offering a cushion for the sentiment-linked Australian Dollar.

US Dollar Technical Analysis

My majors-based US Dollar index – which averages it against EUR, JPY, GBP and AUD – pushed above falling resistance from February on the 4-hour chart. That followed a bounce off current March lows and has since seen follow-through. This could spell near-term strength to come from the US Dollar with confirmation now seen. It may take it to peaks USD saw on average in February.

Majors-Based US Dollar Index 4-Hour Chart

Dollar May Rise, Breakout in Focus. USD/JPY Has Best Day Since 2013

Chart Created Using TradingView

--- Written by Daniel Dubrovsky, 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.