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
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
More View more
Real Time News
  • The Australian Dollar and New Zealand Dollar tend to rise with stocks. They have recently fallen despite gains in the #SP500. What does this mean for $AUDUSD and $NZDUSD ahead? #AUD #NZD #RBA #RBNZ - https://www.dailyfx.com/forex/fundamental/article/special_report/2020/01/17/AUDUSD-NZDUSD-Outlook-Looks-Past-Stocks-to-Rate-Cut-Bets.html?CHID=9&QPID=917702 https://t.co/ddf2fV7Kyl
  • A few snippets from today's commentary. Check out the link below for the full story (via @DailyFX). https://t.co/I31tuq764r https://t.co/x0BaiOFA1P
  • Have you joined @DailyFX @facebook group yet? Discuss your #forex strategies and brush up on your skills with us here: https://t.co/jtY1G7g8yx https://t.co/e2YrN3dBrl
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 98.00%, while traders in France 40 are at opposite extremes with 79.59%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/UL7hqSD2Ki
  • US Dollar Forecast: $USD Lacking Impetus Ahead of Consumer Sentiment #Forex traders shift focus away from US-China trade deal headlines - perhaps toward the monthly release of #ConsumerSentiment data for volatility and clues on the Greenback's next move https://www.dailyfx.com/forex/fundamental/us_dollar_index/usd_trading_today/2020/01/16/us-dollar-forecast-usd-lacking-impetus-ahead-of-consumer-sentiment.html
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.11% 🇦🇺AUD: -0.02% 🇯🇵JPY: -0.03% 🇨🇭CHF: -0.05% 🇬🇧GBP: -0.06% 🇨🇦CAD: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/Kxcb9EtIWb
  • Indices Update: As of 05:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.45% France 40: 0.26% Wall Street: 0.07% US 500: 0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/I5YIsKQAog
  • 🇯🇵 JPY Tertiary Industry Index (MoM) (NOV), Actual: 1.3% Expected: 1.0% Previous: -5.2% https://www.dailyfx.com/economic-calendar#2020-01-17
  • The $JPY has weakened as a bounce-back in risk appetite saps haven-asset demand. However, the old uptrend line still provides clear resistance. Get your market update from @DavidCottleFX HERE:https://t.co/IMhgQ9jbF9 https://t.co/I7087olftk
  • Heads Up:🇯🇵 JPY Tertiary Industry Index (MoM) (NOV) due at 04:30 GMT (15min), Actual: N/A Expected: 1.0% Previous: -4.6% https://www.dailyfx.com/economic-calendar#2020-01-17
Opening Comment 05.21

Opening Comment 05.21

2010-05-21 04:36:00
Joel Kruger, Technical Strategist
The Euro has managed to stage an impressive recovery out from its recent 2010/multi-year lows, and has done so even in the face of a high degree of uncertainty and heavy liquidation in global equities prices. The only seemingly logical explanation for the relative Euro strength is that there has indeed been some coordinated intervention to help curb the depreciation in the beleaguered currency. 
Some of the big movers have been on the Euro/Commodity crosses, with Aussie, Kiwi and Cad absolutely obliterated in the face of this new wave of global fear. Meanwhile, some added intervention from the SNB has forces a serious jackknife reversal in the Eur/Chf cross which trades over 5 big figures off of its early week record lows by 1.4000. The Yen crosses have also been hurting on the risk aversion theme, although we have seen some recovery into Friday. 
US Secretary Geithner has scheduled a trip to the UK and Germany next week to discuss the current crisis, which further strengthens and reaffirms the likelihood of coordinated intervention. Elsewhere, Japanese FinMin Kan has been on the wires saying that FX rates should be set by markets even though it is undesirable to see such a strong Yen. 
The Bank of Japan has come out and left its call rate unanimously unchanged at 0.10% as widely expected, and the news has hardly factored into price action. Finally, the US Senate has officially approved the Wall Street reform bill which greenlights a massive overhaul of financial regulation; including strengthening oversight of derivatives trading. 
Looking ahead, German GDP (0.2% expected) and other secondary German data are due at 6:00GMT, followed by Swiss money supply at 7:00GMT. The Eurozone current account is then out at 8:00GMT, along with German IFO (101.9 expected), with UK money supply (3.8% expected), total business investment (-0.6% expected), public finances (7.0B expected) and major banks mortgage approvals (54k expected), all capping things off for European trade at 8:30GMT. US equity futures are showing some signs of life following Thursday’s concerning session, while commodities continue to track lower. 

Written by Joel Kruger, Technical Currency Strategist for DailyFX.com 

If you wish to receive Joel's reports in a more timely fashion, e-mail instructor@dailyfx.com and you will be added to the "distribution" list.



If you wish to discus this topic or any other feel free to visit our Forum page


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


News & Analysis at your fingertips.