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
Oil - US Crude
Mixed
Wall Street
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
Gold
Mixed
GBP/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
USD/JPY
Bullish
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: https://t.co/lgDf5cVYOn https://t.co/kuqShllQFp
  • Although the longer-term technical outlook for AUD remains skewed to the topside, recent developments suggest the commodity-sensitive currency could lose ground against USD and JPY. Get your market update from @DanielGMoss here: https://t.co/Rl1h8WdXwp https://t.co/49RKx86FzG
  • ECB policymakers were out in force last week, saying they were watching Eurozone government bond yields, but yields rose anyway, and that’s positive for $EURUSD and the Euro crosses. Get your market update from @MartinSEssex here: https://t.co/nJdh9dA1HM https://t.co/peLh7zTTiz
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/vs7ypHHwya
  • The GBP rally vs USD came to an abrupt end and reversal; this sets cable up for more selling in the week ahead. Get your market update from @PaulRobinsonFX here: https://t.co/Ee9PSppnd2 https://t.co/uaiCiEHBMs
  • What are some trading takeaways from 2020, as we jump into the new year? Find out with your free guide here: https://t.co/e7udCTJlmf #DailyfxGuides https://t.co/OXUgYIl2ru
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here: https://t.co/8A1QhwMVKo https://t.co/xncree8XaW
  • Becoming a forex trader means living and breathing the excitement, risk and reward of trading in the biggest and most liquid market in the world. Do you have what it takes? Read here to discover the qualities and processes it takes to build consistency: https://t.co/EfWEACQ6Cz https://t.co/gGOU1RVQzq
  • Becoming a forex trader means living and breathing the excitement, risk and reward of trading in the biggest and most liquid market in the world. Do you have what it takes? Read here to discover the qualities and processes it takes to build consistency: https://t.co/EfWEACQ6Cz https://t.co/wrI29FTN41
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here: https://t.co/t9Flsqcxo9 https://t.co/UzzC1bGzRJ
Market Sentiment Firms as Netflix Soars, Euro Weakens as EUR/GBP Cracks Support  - US Market Open

Market Sentiment Firms as Netflix Soars, Euro Weakens as EUR/GBP Cracks Support - US Market Open

Justin McQueen, Analyst

EUR/USD Analysis & News

  • Stock Markets Grind Higher
  • Euro Underperforms
  • Netflix Shares Soar

QUICK TAKE: Stock Markets Grind Higher, Euro Underperforms

Equities: As was expected, Yellen’s hearing was not notably market-moving given the leaked text. That said, with Yellen providing her support for Biden’s stimulus plan stating that now is the time to act big, particularly with interest rates at historically low levels. In turn, there is a sense that the Treasury and the Fed will take more coordinated action thus providing a more encouraging backdrop for equity markets going forward.

Throughout the morning session, newsflow has been rather quiet with European bourses tracking higher. Tech firms the notable outperformer after strong Netlfix earnings (+13% after market).

NETFLIX Q4 STREAMING PAID NET CHANGE 8.51M VS EST. 6.06M

NETFLIX Q4 Revenue 6.64B vs Est. 6.63B

NETFLIX EPS 1.19 VS EST. 1.38

Euro Stoxx 50 Sector Breakdown

Outperformers: IT (2.5%), Consumer Discretionary (1.6%), Energy (0.2%)Laggards: Utilities (-1.2%), Consumer Staples (-0.9%), Health Care (-0.2%)

US Futures: S&P 500 (0.5%), DJIA (0.3%), Nasdaq 100 (1.0%)

Intra-Day FX Performance

Market Sentiment Firms as Netflix Soars, Euro Weakens as EUR/GBP Cracks Support  - US Market Open

Italian PM Conte survived the senate confidence vote with 156 votes in favour, however, the PM fell short of the 161 votes needed for an absolute majority. As such, while a snap election looks to have been avoided in the short run, the minority government is in a very weak position. In reaction to the news, BTPs gapped higher, however, the move was quickly pared, while the Euro remains on the backfoot with cross-related selling in EURGBP weighing on the single currency.

EUR Forecast
EUR Forecast
Recommended by Justin McQueen
Download our fresh Q1 2021EUR Forecast
Get My Guide

Chart in Focus: EUR/GBP Breaks Key Support

Market Sentiment Firms as Netflix Soars, Euro Weakens as EUR/GBP Cracks Support  - US Market Open

Source: Refinitiv

Commodities: Today is inauguration day as Donald Trump’s presidency comes to an end, although market significance will be most likely minimal. Taking a look at gold’s performance around the time of inauguration day, there is no discernible implications for the precious metal. Price action in the precious metal has been somewhat choppy with key resistance capping upside at 1860.

Market Sentiment Firms as Netflix Soars, Euro Weakens as EUR/GBP Cracks Support  - US Market Open

Looking ahead: BoC monetary policy report will be released at 1500GMT, while BoE Governor Bailey is due to speak from 1800GMT

DailyFX Economic Calendar

Market Sentiment Firms as Netflix Soars, Euro Weakens as EUR/GBP Cracks Support  - US Market Open

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

DISCLOSURES