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
Bearish
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
Bullish
Wall Street
Mixed
Gold
Bearish
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • What are some factors impacting Euro’s forecast this quarter? Get your free forecast here: https://t.co/kpBYVz31Bd https://t.co/dRmLKUEaAM
  • 🇫🇮 GDP Growth Rate YoY Final (Q3) Actual: -2.7% Previous: -6.2% https://www.dailyfx.com/economic-calendar#2020-11-27
  • 🇫🇮 GDP Growth Rate QoQ Final (Q3) Actual: 3.3% Previous: -3.9% https://www.dailyfx.com/economic-calendar#2020-11-27
  • 🇫🇮 GDP Growth Rate QoQ Final (Q3) Actual: 3.3 Previous: -3.9% https://www.dailyfx.com/economic-calendar#2020-11-27
  • 🇫🇮 GDP Growth Rate QoQ Final (Q3) Actual: 3.3 Previous: -4.5% https://www.dailyfx.com/economic-calendar#2020-11-27
  • 🇫🇮 GDP Growth Rate YoY Final (Q3) Actual: -2.7 Previous: -6.4% https://www.dailyfx.com/economic-calendar#2020-11-27
  • Heads Up:🇫🇮 GDP Growth Rate QoQ Final (Q3) due at 06:00 GMT (15min) Previous: -4.5% https://www.dailyfx.com/economic-calendar#2020-11-27
  • Heads Up:🇫🇮 GDP Growth Rate YoY Final (Q3) due at 06:00 GMT (15min) Previous: -6.4% https://www.dailyfx.com/economic-calendar#2020-11-27
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 95.09%, while traders in NZD/USD are at opposite extremes with 73.48%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/b4kJ0Qob1K
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.30% 🇳🇿NZD: 0.19% 🇦🇺AUD: 0.18% 🇪🇺EUR: 0.08% 🇬🇧GBP: 0.08% 🇨🇦CAD: 0.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/DwUkJlYg07
US Dollar Bid on Safe Haven Flows vs EUR/USD and GBP/USD

US Dollar Bid on Safe Haven Flows vs EUR/USD and GBP/USD

2020-10-28 09:45:00
Justin McQueen, Analyst
Share:

US Dollar, GBP, EUR Price Analysis & News

  • Eurozone Heading for Lockdown
  • USD Bid Modest as Markets Remain Watchful of US Election
Advertisement

Eurozone Heading for Lockdown

Another wave of risk aversion this morning with European equities under notable pressure. This came after reports that France are mulling a possible month-long national lockdown, which shouldn’t entirely be a surprise given the trajectory of virus cases in Europe in recent weeks. French President Macron will also address the nation today at 20:00 local time. Elsewhere, concerns in the Eurozone were further compounded by Germany discussing a two-week lockdown from roughly November 4th until the end of November.

USD Forecast
USD Forecast
Recommended by Justin McQueen
Download our fresh Q4 USD Forecast
Get My Guide

USD Bid Modest as Markets Remain Watchful of US Election

However, all things considered, while the USD has been underpinned by safe-haven flows, the moves across FX have been largely rather modest given that markets remain cognisant of the US election next week. As I have mentioned previously, positive drivers for the Eurozone have been fading for some time now. While this would normally leave a market that is extremely long the Euro vulnerable to a deeper setback, given that markets continue to price in a democrat sweep (a USD negative outcome), the Euro appears likely to find some demand down towards 1.17. Although, it is important to point out that Trump has been gaining ground in key states in recent days, casting a doubt to the certainty over a democrat sweep.

EUR/USD BEARISH
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily 12% -4% 0%
Weekly 16% -1% 4%
Learn how to use Sentiment in your trading strategy
Get My Guide

Trump Gaining Ground in Key States

US Dollar Bid on Safe Haven Flows vs EUR/USD and GBP/USD

Alongside this, the weakness observed in the Euro has also seen GBP/USD dragged lower as the pair breaks below 1.3000. While my base case is for a trade agreement between the UK and EU, with negotiations in the tunnel phase, Brexit headlines are been quiet in recent sessions and given that the deadline is not for another two more weeks, short-term risks for GBP/USD are for a 1.2900 test.

GBP/USD BEARISH
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily 17% -9% -1%
Weekly 14% 9% 11%
Learn how to use Sentiment in your trading strategy
Get My Guide

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

DISCLOSURES