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
Mixed
Oil - US Crude
Mixed
Wall Street
Mixed
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • US Indices have pared some of their losses, with the S&P and Nasdaq trading back in the green. DOW -0.19% NDX +0.39% SPX +0.17% RUT -0.76% $DOW $QQQ $SPY $IWM
  • USD/MXN is in the midst of a bullish breakout from a short-term falling wedge pattern, but this plots in the midst of a much longer-term falling wedge pattern. Get your $USDMX market update from @JStanleyFX here: https://t.co/ETuevzf4vr https://t.co/ESqNfBnWzm
  • Italian PM Conte convenes cabinet for Tuesday to inform ministers he is resigning - Cabinet office $EUR Confirming earlier reports
  • Gains on $WTI Crude have stalled out this month below $54.00. The commodity is currently trading around $52.30 after falling to a two-week low late last week. $OIL $USO https://t.co/8Rq7RCrXZB
  • No notable reaction in BTPs given that resignation from Conte has been touted earlier in order to put together a new government. Also, a resignation does not necessarily mean that a snap election will be the next step as of yet.
  • The retail speculative crowd is throwing around serious weight with GameStop today, but its appetites have been showing through with the likes of Tesla and FAANG before that. The Broader $NDX to $SPX ratio seems to similarly exhibit the charge: https://t.co/43fWH81O8S
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in GBP/JPY are at opposite extremes with 66.51%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/oMldfyQvSy
  • AUD/USD still tracks the opening range for January amid the limited reaction to Australia’s Employment report. Get your $AUDUSD market update from @DavidJSong here:https://t.co/zrP58XUTln https://t.co/slnI0wp7N4
  • The focus will shift as to whether Conte will search for a new parliamentary majority As a reminder, PD Lawmakers noted that they would guarentee support for Conte as head of new government if he resigns $EUR https://t.co/8m5VDxfmMf
  • Italian PM Conte is expected to resign as early as Monday - Officials $EUR
US Dollar Retreat Likely to Continue on Firming Risk Appetite

US Dollar Retreat Likely to Continue on Firming Risk Appetite

Ilya Spivak, Head Strategist, APAC

Talking Points

  • US Dollar Sold as Asian Stocks Rise, Denting Haven Demand
  • S&P 500 Futures Hint Risk-On Mood to Carry into Weekend

The US Dollar declined overnight as Asian stocks advanced, eroding demand for the go-to haven currency. The MSCI Asia Pacific regional benchmark equity index added 0.6 percent. The telecom sector led shares higher in a move the newswires linked to the debut of the iPhone 5. Chinese economic data reinforced the chipped mood, with the MNI Business Sentiment Indicator rising to a three-month high in September. The Australian Dollar outperformed, adding as much as 0.4 percent against the greenback.

The economic calendar is relatively uneventful in European hours and the US docket is outright empty, hinting broad-based sentiment trends are likely to remain in control of FX market price action. With that in mind, risk-on conditions appear likely to persist as S&P 500 index futures press higher to set session highs ahead of the opening bell in Europe. This hints the Dollar is likely to remain on the defensive into the week-end.

Asia Session: What Happened

GMT

CCY

EVENT

ACT

EXP

PREV

22:45

NZD

Net Migration s.a. (AUG)

-340

-

-640

0:00

AUD

Conference Board Leading Index (JUL)

0.0%

-

0.5%

1:35

CNY

MNI Flash Business Sentiment Indicator (SEP)

50.31

-

47.54

3:00

NZD

Credit Card Spending s.a. (MoM) (AUG)

0.1%

-

-1.5%

3:00

NZD

Credit Card Spending (YoY) (AUG)

1.9%

-

0.1%

Euro Session: What to Expect

GMT

CCY

EVENT

EXP

PREV

IMPACT

6:45

EUR

French Wages (QoQ) (2Q F)

-

0.5

Low

7:00

CHF

Money Supply M3 (YoY) (AUG)

-

9.8%

Low

8:30

GBP

Public Sector Net Borrowing (£) (AUG)

13.2B

-1.8B

Low

8:30

GBP

Public Finances (PSNCR) (£) (AUG)

-5.5B

-22.9B

Low

8:30

GBP

PSNB ex Interventions (AUG)

15.0B

0.6B

Low

Critical Levels

CCY

SUPPORT

RESISTANCE

EURUSD

1.2906

1.3045

GBPUSD

1.6174

1.6349

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

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya 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