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
Mixed
Oil - US Crude
Bearish
Wall Street
Bearish
Gold
Mixed
GBP/USD
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
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
  • Forex Update: As of 03:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.14% 🇬🇧GBP: 0.06% 🇳🇿NZD: 0.04% 🇪🇺EUR: -0.04% 🇨🇭CHF: -0.06% 🇯🇵JPY: -0.13% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/eF87BJdT4j
  • British Pound Price Forecast: GBP/USD, GBP/JPY, GBP/CHF, EUR/GBP - https://www.dailyfx.com/forex/technical/home/analysis/gbp-usd/2021/03/03/British-Pound-Price-Forecast-GBPUSD-GBPJPY-GBPCHF-EURGBP.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr $GBP $EURGBP $GBPUSD $GBPCHF $GBPJPY https://t.co/qt3954gQ53
  • (Analyst Pick) Japanese Yen Outlook: USD/JPY May Fall But Broader Path Remains Bullish #Yen $USDJPY #JPY https://www.dailyfx.com/forex/analyst_picks/todays_picks/daniel_dubrovsky/2021/03/03/Japanese-Yen-Outlook-USDJPY-May-Fall-But-Broader-Path-Remains-Bullish.html?ref-author=Dubrovsky&QPID=917702&CHID=9 https://t.co/bGlHiuTCBn
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 91.52%, while traders in Germany 30 are at opposite extremes with 71.77%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/2Gl2SlMure
  • Update on #Cryptocurrencies #BITCOIN +2.89% #BITCOINCASH +3.09% #ETHEREUM +3.88% #RIPPLE +1.65% #LITECOIN +5.79%
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/GVZ0RT2Zh3
  • BoJ's Kataoka: Hard to see inflation nearing 2% Will keep making utmost effort toward price target - BBG #BoJ $JPY
  • 🇨🇳 Caixin Services PMI (FEB) Actual: 51.5 Previous: 52.0 https://www.dailyfx.com/economic-calendar#2021-03-03
  • BoJ's Kataoka: Desirable to lower rates to strengthen easing Will add stimulus without hesitation if needed Will extend special funding program if necessary - BBG #BoJ $JPY
  • RT @BrendanFaganFx: AUD/USD Eyes February High After Australian Q4 GDP Beat $AUD $USD Link: https://www.dailyfx.com/forex/market_alert/2021/03/03/AUDUSD-Eyes-February-High-After-Australian-Q4-GDP-Beat.html
Euro Faces Weekend Gap Risk with Greek Referendum Sunday

Euro Faces Weekend Gap Risk with Greek Referendum Sunday

Christopher Vecchio, CFA, Senior Strategist

Talking Points:

- EURUSD holding near $1.1100 in thin trading conditions.

- EUR, CHF, GBP, and JPY carry significant gap risk over the weekend.

- See the DailyFX economic calendar for Friday, July 3, 2015.

FX markets are likely to see higher volatility in the coming days. With US markets closed today in observance of Independence Day and the Greek referendum planned to take place on Sunday, there is a unique mix of thin trading conditions and potentially explosive event risk colliding. As such, traders may find Sunday's opening quotes vastly different from Friday's closing prices, particularly in EUR- and CHF-crosses, but also very likely in GBP- and JPY-crosses as well.

Stepping away from Greece, yesterday's June US labor market report did little technical damage to the USDOLLAR Index on the charts, but measures of interest rate expectations aren't moving favorably for the greenback. In fact, per the fed funds futures contract, the implied probability of the Fed's first rate hike coming in December 2015 dropped from 43.3% to 42.2% as a result of the disappointing labor and wages data.

As Greece has been impacting the European currencies as well as the safe haven currencies, the best way to play 'pure' US Dollar biases may be best expressed through AUDUSD or USDCAD (although, Chinese financial issues are starting to spillover and become more prominent).

It may be deemed best risk management practice for traders to reduce position size and leverage in EUR-crosses for the foreseeable future. While the potential outcome for Greece is unknown - the absolute magnitude of the fallout around a positive or negative outcome will be enough to have a significant impact on prices over the weekend.

See the above video for technical considerations in EURUSD, AUDUSD, USDCAD, and the USDOLLAR Index.

Read more: Trade Setups in USD-pairs Around June US NFPs

--- Written by Christopher Vecchio, Currency Strategist

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com

Follow him on Twitter at @CVecchioFX

To be added to Christopher’s e-mail distribution list, please fill out this form

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

DISCLOSURES