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
EUR/USD
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
Oil - US Crude
Bearish
Wall Street
Bearish
Gold
Bullish
GBP/USD
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
USD/JPY
Bearish
More View more
Real Time News
  • 🇳🇱 Consumer Confidence (OCT) Actual: -30.0 Previous: -28.0 https://www.dailyfx.com/economic-calendar#2020-10-22
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.60%, while traders in EUR/USD are at opposite extremes with 74.60%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/fLkteBRqGu
  • The $SPX seems to have worked itself into an inevitable technical break, but follow through is unlikely given the election anticipation. Nevertheless, the Tesla aftermath on Thursday's open will be something to watch . My trading video for today: https://www.dailyfx.com/forex/video/daily_news_report/2020/10/22/SP-500-Due-a-Technical-Break-Dollar-Slides-on-Stimulus-Delay-Pound-Rallies.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/XPwZSCZqju
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here: https://t.co/UVvf51HiVP https://t.co/s0tvG7QXwJ
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.12% 🇳🇿NZD: -0.12% 🇪🇺EUR: -0.14% 🇨🇭CHF: -0.16% 🇨🇦CAD: -0.20% 🇦🇺AUD: -0.42% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/n7Phs46BX1
  • Heads Up:🇳🇱 Consumer Confidence (OCT) due at 04:30 GMT (15min) Previous: -28.0 https://www.dailyfx.com/economic-calendar#2020-10-22
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: FTSE 100: -0.46% Wall Street: -0.58% US 500: -0.58% Germany 30: -0.60% France 40: -0.82% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/xog2DUbSzY
  • British Pound Price Outlook: GBP/USD, GBP/JPY, EUR/GBP Key Levels - $GBPUSD poised to push higher after breaching key resistance. - $GBPJPY rebound struggling to break above the August low. - $EURGBP coiling up above key support https://www.dailyfx.com/forex/technical/home/analysis/gbp-usd/2020/10/22/British-Pound-Price-Outlook-GBPUSD-GBPJPY-EURGBP-Key-Levels.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr $GBP https://t.co/Qr9Tl7Qse9
  • The US Dollar is once again losing ground against #ASEAN FX as $USDGD and $USDIDR may be readying to extend losses. Will $USDMYR and $USDPHP follow? - https://www.dailyfx.com/forex/technical/article/special_report/2020/10/22/US-Dollar-Technical-Forecast-USDSGD-USDIDR-USDPHP-USDMYR.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/olomq6jsAD
  • 🇹🇭 Balance of Trade (SEP) Actual: $2.230B Expected: $3.55B Previous: $4.35B https://www.dailyfx.com/economic-calendar#2020-10-22
Dollar Awaits G20; JPY-crosses Reigned in on Fears

Dollar Awaits G20; JPY-crosses Reigned in on Fears

2017-02-16 12:35:00
Christopher Vecchio, CFA, Senior Strategist
Share:

Talking Points:

- DXY Index reached a critical juncture yesterday before profit taking ensued.

- G20 meeting may be stoking fears that "undervalued" currencies may be addressed; JPY is front and center.

- Keep an eye on short-term positioning shifts as traders turn against the US Dollar with the DailyFX Speculative Sentiment Index.

G20 foreign ministers are meeting in Bonn, Gerrmany, against a backdrop of growing geopolitical tensions and policy uncertainty surrounding one of its most important members, the United States. In effect, this is a 'dry-run' to see how the new Trump administration handles itself on the world's stage, ahead of the annual G20 summit meeting in July.

Yet as world leaders meet, the spectre of the dramatic shift in US policy clearly casts a long shadow over FX markets. For the past several weeks, US President Trump and several members of his administation have commented on how the US Dollar is overvalued relative to other currencies, with some even pointing to the Euro, the Japanese Yen, and the Chinese Yuan directly as the main antagonists in the market.

In the meanwhile, as the DXY Index goes through a moment of profit taking after yesterday's January CPI and Advance Retail Sales reports were the catalysts to seeing the greenback return to its highest level in four-weeks, it's important to stay focused on the US Dollar's fundamental underpinning: US yields and Fed rate expectations. This time last week, markets were pricing in less than a 30% chance of a rate hike come March; now, odds are north of 40%. As long as short-end US yields stay elevated and markets look to data for hints of a hike next month, the greenback's pullback may be limited.

Webinar Schedule for Week of February 12 to 17, 2017

Monday, 7:30 EST/12:30 GMT: FX Week Ahead: Strategy for Major Event Risk

Wednesday, 6:00 EST/11:00 GMT: Trading Q&A

Thursday, 7:30 EST/12:30 GMT: Central Bank Weekly

Read more: Led by EUR/USD & USD/JPY, DXY May Have Bottomed

--- Written by Christopher Vecchio, Senior 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