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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
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
  • Encouraging move here for $GDX as it breaks out of its descending channel Meanwhile, $GLD remains locked in its downtrend
  • Heads Up:🇺🇸 Fed Bostic Speech due at 15:30 GMT (15min)
  • $USDJPY has continued lower today amidst further weakness from the US Dollar, falling to an intraday low around the 108.60 level, its lowest point in three weeks. $USD $JPY
  • While things are remarkably quiet in many global indices, the situation on the German $DAX 30 is the most impressive. At a record high, it has carved out the narrowest 7-day historical range (as %age of spot) since October 2017. Break risk high
  • Gold ($XAUUSD) is making a bid to break back above a frequented pivot level around 1765. This despite risk trends being up (against its haven status) and the Dollar holding steady (pricing factor)
  • USD/CAD: A convincing rejection of the 1.26 handle, which also coincided with the 50% fib of the 2021 range. Get your $USDCAD technical analysis from @JMcQueenFX here:
  • Hey traders! Are we witnessing a clear stretch for S&P500 and Nasdaq? Find out from @DailyFX Chief Strategist @JohnKicklighter 👇
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.46% 🇦🇺AUD: 0.38% 🇯🇵JPY: 0.26% 🇬🇧GBP: 0.05% 🇪🇺EUR: -0.04% 🇨🇦CAD: -0.10% View the performance of all markets via
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: US 500: 0.86% FTSE 100: 0.85% Wall Street: 0.77% France 40: 0.46% Germany 30: 0.32% View the performance of all markets via
  • Gold back towards key resistance (1760-65) that has capped rallies over the past two months - US yields at session lows providing the latest push higher
USD Dips as the Fed May Mull Pause on Rate Hike Cycle - US Market Open

USD Dips as the Fed May Mull Pause on Rate Hike Cycle - US Market Open

Justin McQueen, Analyst


USD: The risk on sentiment has put a dent in the US Dollar, which is trading modestly lower against its major counterparts, particularly high beta FX currencies (AUD, NZD), with the exception of the Japanese Yen, which is underperforming. Alongside this, a report circulating that the Federal Reserve could consider pausing its rate hike cycle by spring has provided a further lift to equity markets, at the expense of the USD. That said, this comes in the context that recent commentary from Fed officials have been leaning on the more cautious side, which in turn has reigned in rate hike expectations from the Federal Reserve. Latest FFR futures imply 56bps worth of tightening by the end of next year, compared to the Fed’s dot plot projection currently signalling 100bps. Elsewhere, another spring to the equity bounce has been provided by reports that China trade hawk, Peter Navarro, may be excluded from talks between President Trump and Xi at the upcoming G20 summit.

EUR: The Euro has been somewhat resilient despite the European Commission rejecting Italy’s budget. The EC also stated that disciplinary procedures should be adopted against Italy for excessive debt (what happens next). However, with rate hike expectations continuing to drop off, tighter spreads between the US and Core EU members has provided a lift for the Euro, which sits above the 1.14 handle. Eyes will be on tomorrow’s ECB meeting minutes.

Crude Oil: The 25-30% in major oil benchmarks has been praised by President Trump, who would also like to see even lower oil prices. However, given the near enough 6% drop in the oil complex yesterday, prices are seeing a modest lift, which has also been supported by yesterday’s API report, showing a surprise drawdown in US stockpiles. Oil traders will be looking for confirmation at today’s EIA report whereby a drop-in oil inventories would end the run of consecutive weekly stockpile increases (current streak is 8). Elsewhere, reports from the Kremlin noted that Russia were currently monitoring developments in the oil market and will meet with Saudi’s MBS at the G20 summit.

USD Dips as the Fed May Mull Pause on Rate Hike Cycle - US Market Open

Data as of 1325GMT

DailyFX Economic Calendar: Wednesday, November 21, 2018 – North American Releases

USD Dips as the Fed May Mull Pause on Rate Hike Cycle - US Market Open

DailyFX Webinar Calendar: Wednesday, November 21, 2018

USD Dips as the Fed May Mull Pause on Rate Hike Cycle - US Market Open


USD Dips as the Fed May Mull Pause on Rate Hike Cycle - US Market Open

EURUSD: Data shows 50.6% of traders are net-long with the ratio of traders long to short at 1.02 to 1. The number of traders net-long is 3.3% higher than yesterday and 15.8% lower from last week, while the number of traders net-short is 10.0% lower than yesterday and 26.8% higher from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests EURUSD prices may continue to fall. Positioning is more net-long than yesterday but less net-long from last week. The combination of current sentiment and recent changes gives us a further mixed EURUSD trading bias.

Five Things Traders are Reading

  1. Crude Oil Analysis: Bearish Momentum to Continue Despite Short Term Lift” by Justin McQueen, Market Analyst
  2. EURUSD Price Consolidating, More Gains Possibleby Martin Essex, MSTA, Analyst and Editor
  3. S&P 500, Nasdaq 100 & Dow Charts Have Important Support Levels to Watch” by Paul Robinson, Market Analyst
  4. Trading Forecast for S&P 500/Dow, DAX 30, Crude Oil, Gold Price & More” by Paul Robinson, Market Analyst
  5. GBPUSD: Brexit Fears Remain as UK PM May Heads to Brussels” by Nick Cawley, Market Analyst

--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at

Follow Justin on Twitter @JMcQueenFX

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