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. See our updated Privacy Policy here.

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
Bullish
Wall Street
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
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Gold: 0.11% Oil - US Crude: 0.02% Silver: -0.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/ENxA7SeIDF
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.01% 🇨🇦CAD: -0.13% 🇪🇺EUR: -0.13% 🇨🇭CHF: -0.15% 🇬🇧GBP: -0.18% 🇦🇺AUD: -0.26% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/cmUacZR1bK
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Gold are long at 87.12%, while traders in France 40 are at opposite extremes with 74.18%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/WKmgAjSLWR
  • Use this technical analysis pattern recognition skills test to sharpen your knowledge: https://t.co/Qgz89PTxnu https://t.co/3rXsyuSemd
  • Nasdaq 100 Rebounds as Tapering Fears Ease, Hang Seng and ASX 200 Climb https://www.dailyfx.com/forex/market_alert/2021/06/22/Nasdaq-100-Rebounds-as-Tapering-Fears-Ease-Hang-Seng-and-ASX-200-Climb.html https://t.co/NZxRtj3rNa
  • ANZ Bank sees New Zealand house prices increasing by 0.7% in 2022 - BBG
  • Ever wonder if there are other chart types that can be sued for technical analysis? HLOC charts are discussed in the following article as well as their pros and cons. Learn more here: https://t.co/qV3c7a4YR3 https://t.co/9ZUHvkEw7R
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here: https://t.co/kODPAfJE79 https://t.co/aGz502atu0
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here: https://t.co/CNtqrKWDBY https://t.co/OibiizbywE
  • Wall Street futures pointing slightly higher heading into morning Tuesday APAC trade: Dow Jones (+0.19%) S&P (+0.16%) Nasdaq (+0.11%) -BBG
EUR Eyes Key Support, M&A Flow Curbs AUD Declines - US Market Open

EUR Eyes Key Support, M&A Flow Curbs AUD Declines - US Market Open

Justin McQueen, Analyst

MARKET DEVELOPMENT – USD HITS FRESH 16-MONTH HIGH

USD: The US dollar rose to hit a fresh 16 month high as short-term drivers come into effect. Mentioned on Monday, month-end rebalancing suggested strong USD buy signals, while today’s Federal Reserve Balance sheet unwind is expected to lead to the second largest net negative dollar liquidity impact, which typically supports the dollar. Alongside this, today’s ADP employment report beat expectations, keeping the USD supported. Eyes turn to Friday’s NFP report.

EUR: The Euro is quickly approaching key support at 1.13 amid the uptick in the US Dollar, while large Euro selling through EURGBP has also weighed on the single currency. On the data front, headline inflation and core inflation matched estimates, however, core inflation at 1.1% is still some way from reaching the ECB’s price target.

GBP: After moving to within 30pips of hitting the YTD low (1.2660), the Pound has been among best performing G10 currency in today’s session. Largely as a by-product of the unwind seen in EURGBP, which saw a notable bid in yesterday’s session on month-end demand.

AUD: The Australian Dollar is slightly softer this morning following a slew of negative data surprises in the Asian session. Headline CPI printed in-line with expectations, however the RBA’s preferred measure of inflation (trimmed mean), underwhelmed analyst estimates, consequently, taking the Aussie below 0.71 against the greenback. Elsewhere, China Manufacturing PMI fell short of consensus, confirming the slowdown in Chinese growth as trade wars continue to bite, which added to the Aussie selling. However, much of the selling has been somewhat limited with corporate M&A flow (Mitsubishi UFJ purchasing Commonwealth Bank’s asset management arm for A$ 4.1bln) providing supportive flow for the Aussie through AUDJPY.

DailyFX Economic Calendar: Wednesday, October 31, 2018 – North American Releases

EUR Eyes Key Support, M&A Flow Curbs AUD Declines - US Market Open

DailyFX Webinar Calendar: Wednesday, October 31, 2018

EUR Eyes Key Support, M&A Flow Curbs AUD Declines - US Market Open

Four Things Traders are Reading

  1. Global Markets Recover, However, Risk Sentiment Barometer Remains Fragile” by Justin McQueen, Market Analyst
  2. Trading Outlook for Gold Price, Crude Oil, Dow Jones, DAX 30 & Moreby Paul Robinson, Market Analyst
  3. US Dollar Rally on Hold as Jobs Data and Mid-Term Elections Nearby Nick Cawley, Market Analyst
  4. Gold & Silver Price Analysis – Looking for More Downside” by Paul Robinson , Market Analyst

--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at Justin.mcqueen@ig.comFollow Justin on Twitter @JMcQueenFX

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

DISCLOSURES