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.

Free Trading Guides
EUR/USD
Mixed
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
Mixed
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
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
Bullish
GBP/USD
Mixed
USD/JPY
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
More View more
Real Time News
  • Risk appetite evaporates on US-China headline. Trump says press conference regarding China coming tomorrow $DJI https://t.co/7Poy62Lpgp
  • Is there clarity on time of day? There is a material change in the risk around the event whether it is pre-NY open (gap and steady), during NY trade (volatility and steady) or after hours (let fear/greed build over the weekend for a Monday charge) https://t.co/wUSO6d44ns
  • Trump says press conference on China will be held Friday - BBG
  • There is a dramatic departure between yield curve pricing for a recession and other measures of near-term growth; the Q2’20 Atlanta Fed GDPNow is extremely alarming.Get your market update from @CVecchioFX here: https://t.co/eMd3T8EwDO https://t.co/joAVurkmJP
  • US Treasury Yields: 2-Year: 0.174% 3-Year: 0.220% 5-Year: 0.346% 7-Year: 0.537% 10-Year: 0.705% 30-Year: 1.474% $TNX
  • White House Economic Advisor Hassett says some workers going back to their jobs is building confidence $DXY $SPX
  • Gold Price Outlook: XAU Overbought as Cycles Drive the Bullish Trend https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2020/05/28/Gold-Price-Outlook-XAU-Overbought-as-Cycles-Drive-the-Bullish-JS-Trend.html $Gold https://t.co/ntbvPQTHF9
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Silver: 0.34% Gold: 0.26% Oil - US Crude: -0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/yvJX18QY14
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.91%, while traders in US 500 are at opposite extremes with 74.73%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/l7878VS4m7
  • As long as this moves forward, the verbal (Twitter) threats of action between the US and China will garner less and less actual market movement https://t.co/pvGOJuAG4N
Dollar Aims to Extend Gains as Stock Index Futures Signal Risk Aversion

Dollar Aims to Extend Gains as Stock Index Futures Signal Risk Aversion

2012-05-07 06:58:00
Ilya Spivak, Head Strategist, APAC
Share:

Talking Points

  • Dollar Poised to Extend Gains as Index Futures Signal Risk Aversion
  • Euro Leads Majors Lower in the Wake of French, Greek Elections
  • German Factory Orders, Swiss CPI Unlikely to Stir Strong Response

The US Dollar (ticker: USDollar) pushed aggressively higher overnight as risk aversion gripped financial markets, driving demand for the go-to safe haven currency. The MSCI Asia Pacific regional benchmark stock index dove 2.5 percent and growth-geared commodities like crude oil and copper chalked up sharp losses as markets responded to over-the-weekend news that Socialist candidate Francois Hollande beat incumbent Nicolas Sarkozy to become the next President of France. Stock index futures tracking key European and US benchmarks are trading sharply lower, hinting more of the same is likely ahead.

Traders are worried that the anti-austerity Hollande will unravel Eurozone debt crisis relief efforts, which like most EU policy have heavily relied on the Franco-German axis. A failure by the mainstream pro-austerity Pasok and New Democracy (ND) parties – which pledged to form a coalition with one another – to secure a joint parliamentary majority in Greek elections also held this weekend compounded sovereign risk fears.

German Factory Orders and Swiss CPI data headline a relatively lackluster European calendar. The former is expected to show a narrow pickup in March but the result seems unlikely to mean much for the Euro given the dismal run of recent manufacturing PMI figures. The latter is forecast to show continued deflation, albeit at a slightly slower pace, which would not materially change the existing fundamental profile of the Swiss Franc and so ought to pass with little fanfare.

Asia Session: What Happened

GMT

CCY

EVENT

ACT

EXP

PREV

23:30

AUD

AiG Performance of Construction Index (APR)

34.9

-

36.2

1:30

AUD

Building Approvals (MoM) (MAR)

7.4%

3.0%

-8.8%

1:30

AUD

Building Approvals (YoY) (MAR)

-15.0%

-18.0%

-15.2%

1:30

AUD

NAB Business Conditions (APR)

0

-

3

1:30

AUD

NAB Business Confidence (APR)

4

-

3

1:30

AUD

ANZ Job Advertisements (MoM) (APR)

-3.1%

-

0.7%

1:30

AUD

Retail Sales s.a. (MoM) (MAR)

0.9%

0.2%

0.3%

1:30

AUD

Retail Sales Ex Inflation (QoQ) (1Q)

1.8%

0.4%

0.5%

Euro Session: What to Expect

GMT

CCY

EVENT

EXP

PREV

IMPACT

5:45

CHF

Unemployment Rate (APR)

3.1%

3.2%

Medium

5:45

CHF

Unemployment Rate s.a. (APR)

3.1%

3.1%

Medium

7:00

CHF

Foreign Currency Reserves (APR)

-

237.5B

Low

7:15

CHF

Consumer Price Index (MoM) (APR)

0.2%

0.6%

Medium

7:15

CHF

Consumer Price Index (YoY) (APR)

-0.9%

-1.0%

Medium

7:15

CHF

CPI - EU Harmonised (MoM) (APR)

-

0.90%

Low

7:15

CHF

CPI - EU Harmonised (YoY) (APR)

-

-1.0%

Low

8:30

EUR

Euro-Zone Sentix Investor Confidence (MAY)

-15.3

-14.7

Low

10:00

EUR

German Factory Orders s.a. (MoM) (MAR)

0.5%

0.3%

Medium

10:00

EUR

German Factory Orders n.s.a. (YoY) (MAR)

-2.8%

-6.1%

Medium

Critical Levels

CCY

SUPPORT

RESISTANCE

EURUSD

1.2916

1.3149

GBPUSD

1.6104

1.6188

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow me on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to ispivak@dailyfx.com

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

DISCLOSURES

News & Analysis at your fingertips.