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
More View more
Real Time News
  • Dealing with the fear of missing out – or FOMO – is a highly valuable skill for traders. Not only can FOMO have a negative emotional impact, it can cloud judgment and overshadow logic. Learn how you can control FOMO in your trading here:
  • Bitcoin (BTC) started the day on the front foot on the Twitter news before the latest China crypto ban hammered the market lower. Get your weekly crypto forecast from @nickcawley1 here:
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here:
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here:
  • The US Dollar continues to push higher against ASEAN currencies after the FOMC rate decision. This leaves the USD/SGD, USD/THB, USD/PHP and USD/IDR outlook mostly tilted higher. Get your market update from @ddubrovskyFX here:
  • The US Dollar seems to be back on the offensive against its major counterparts, pressuring EUR/USD and NZD/USD lower as USD/JPY consolidates. USD/CHF surges past key resistance. Get your market update from @ddubrovskyFX here:
  • The Japanese Yen remains in focus with strength potential on risk aversion themes to go along with weakness on themes around higher rates. Get your weekly $JPY technical forecast from @JStanleyFX here:
  • Google finance-related search interest in 'Evergrande' has almost overtaken 'Covid'. 'Taper' doesn't even register on the scale
  • Gold prices gain as potential systemic risks out of China's Evergrande Group roil broader markets. Meanwhile, iron ore is ticking higher after a big drop on Monday as China steps up steelmaking curbs. Get your market update from @FxWestwater here:
  • Gold remains higher despite positive Evergrande news out of China. Meanwhile, copper bulls are pushing prices upward as the potential for a housing crisis in China ebbs. Get your market update from @FxWestwater here:
US Dollar and Yen Down as Stocks Rise, Crude Oil Down on OPEC+

US Dollar and Yen Down as Stocks Rise, Crude Oil Down on OPEC+

Ilya Spivak, Head Strategist, APAC


  • S&P 500 futures gapped higher, setting a risk-on tone that hurt USD and JPY
  • Crude oil prices down after OPEC+ failed to agree to prolong production caps
  • Chinese PMI data headlines the economic data docket in Asia-Pacific trade

A risk-on bias is prevailing at the start of the trading week. Bellwether S&P 500 futures gapped higher at the open, signaling a broadly upbeat lead as liquidity rebuilds following last week’s drain courtesy of the Thanksgiving holiday that shuttered US markets.

The anti-risk US Dollar and Japanese Yen are performing true to form given investors’ chipper mood: both currencies are on the defensive against their major G10 FX counterparts. At the opposite end of the sentiment spectrum, the cyclically-minded Australian and New Zealand Dollars are narrowly outperforming.

US Dollar and Yen Down as Stocks Rise, Crude Oil Down on OPEC+

Chart created with TradingView

A constellation of now-familiar narratives appears to be driving optimism. Donald Trump has begrudgingly agreed to begin the formal transition to the incoming Biden administration, former Fed Chair Janet Yellen was named as the incoming Treasury secretary, and Covid vaccine news seems encouraging.

Crude oil prices are notable exception from the otherwise cheery backdrop. The WTI benchmark gapped lower at the open. That is after OPEC+ officials failed to reach agreement on delaying a planned output hike in January, when a scheme capping production starts to be unwound.

US Dollar and Yen Down as Stocks Rise, Crude Oil Down on OPEC+

Chart created with TradingView

A full meeting of energy ministers from OPEC member states along with like-minded top producers – notably, Russia – is due to begin on Monday. The gathering will run through December 1. If the terms of an accord are not ironed out, output may rise by 1.9 million barrels per day as the calendar turns to 2021.

Elsewhere on the docket, November’s official Chinese PMI data is due to cross the wires. The pace of activity growth in the manufacturing sector is expected to tick higher while services side slows a bit. An upside surprise echoing recent outperformance relative to forecasts may buoy risk appetite further.


--- Written by Ilya Spivak, Head APAC Strategist for

To contact Ilya, use the comments section below or @IlyaSpivak on Twitter

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.