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
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
More View more
Real Time News
  • The S&P 500, Dow Jones and DAX 30 could be at risk of falling as retail traders continue increasing their upside exposure in these indices. What are the key technical levels to watch for? Find out from @ddubrovskyFX here:https://t.co/OJByiwIppr https://t.co/P1iOONG90N
  • The US Dollar continues to hold its ground against most ASEAN currencies as recent downtrends lose momentum. What is the road ahead for USD/SGD, USD/THB, USD/PHP and USD/IDR? Find out from @ddubrovskyFX here:https://t.co/UcleaZEAaW https://t.co/62bGLvt8fE
  • The Canadian Dollar has been caught in broad ranges against the Euro and the US Dollar, but can the upside bias in USD/CAD and EUR/CAD prolong? Find out here:https://t.co/8DubboXsjv https://t.co/A0sIYo2iP1
  • Want to hear my thoughts on the US Dollar? Check out yesterday's recording with #AuzBiz hosted by @KaraOrdway on 'The Trade' We discussed a #USD index, Treasury yields, $USDJPY, $AUDUSD and $NZDUSD https://t.co/yxwquL1btp https://t.co/RtWjlN6kpv
  • Gold has plunged nearly 5% off the Monthly high with the sell-off now probing key weekly support here at 1738/47- looking for a pivot here with the Fed interest rate decision on tap. Get your $XAUUSD market update from @MBForex here:https://t.co/Vnxi41lETt https://t.co/FyZuHNzsU3
  • Feels like the market has been front-running next week’s FOMC announcement, which will reveal updated dot plot projections. Expectations clearly set for a more hawkish shift in guidance. That said, if the Fed does not deliver, US Dollar bulls could be disappointed. $USD $DXY https://t.co/o2v6ibac3L
  • USD/CAD has been chopping around the past week-and-a-half, offering virtually no cues on its next direction. Get your market update from @PaulRobinsonFX here:https://t.co/eq1YkOa3mC https://t.co/V6h8BjyeGa
  • FDA panel votes 16-3 against approving Covid-19 booster shots - BBG
  • RT @C_Barraud: 🇺🇸 Americans Haven’t Been This Down on #Housing Market Since 1982 - Bloomberg *Link: https://t.co/wWFnbAwIDO https://t.co/6G…
  • US Dollar Price Action Setups Pre-FOMC: EUR/USD, GBP/USD, USD/CAD https://www.dailyfx.com/forex/analyst_picks/todays_picks/james_stanley/2021/09/17/US-Dollar-Price-Action-Setups-pre-FOMC-EURUSD-EUR-USD-GBP-USD-GBPUSD-USD-CAD-USDCAD.html https://t.co/J25MYsXCa9
Yen Falls on BOJ Nominee Reports, Euro Eyes Italian Election

Yen Falls on BOJ Nominee Reports, Euro Eyes Italian Election

Ilya Spivak, Head Strategist, APAC

The Japanese Yen fell amid reports dovish Haruhiko Kuroda will be nominated to take over the BOJ. The Euro looks to Italian election results for direction.

Talking Points

  • Yen Falls on Reports Abe to Nominate Kuroda to BOJ Governor Post
  • Australian Dollar Sold as HSBC Reveals Disappointing China PMI Data
  • Italian General Election Outcome Threatens Euro and Risk Sentiment

The Japanese Yen came under heavy selling pressure overnight, sliding as much 1.1 percent on average against its leading counterparts, amid rumors that Premier Shinzo Abe will nominate Asian Development Bank President Haruhiko Kuroda to take over as the Governor of the Bank of Japan. Kuroda is viewed as a relatively dovish choice, and with him at the helm the central bank will be expected to push forward with aggressive stimulus to realize Abe’s anti-deflation crusade. The Nikkei led Asian shares higher on the news, amplifying pressure on the safety-linked Japanese currency.

The Australian Dollar likewise fell, with sellers driven by a disappointing Chinese economic data. The HSBC Manufacturing PMI gauge registered at 50.4, showing factory-sector activity expanded at the slowest pace in four months. Economists were looking for a print at 52.2 ahead of the release. China is Australia’s largest trading partner and a central source of demand for the crucial mining sector, meaning a slowdown there carries negative implications for the latter country’s economic growth prospects. That beckons RBA rate cut expectations, weighing on Aussie.

Looking ahead, all eyes are on the outcome of Italy’s general election. The latest polls gathered ahead of the ballot put Democratic Party leader Pier Luigi Bersani in the lead, but PdL party head and former Prime Minister Silvio Berlusconi was penciled in at an uncomfortably close second place. Traders are concerned that hard-fought reforms meant to put Italy’s fiscal house in order will be squandered if Mr Berlusconi retakes the reigns or at least wins enough support to inject him into the coalition-building process. Thisrisks plunging the Eurozone’s third-largest economy and the region at large back into the depths of the sovereign debt crisis, with negative implications for the Euro and risk appetite at large.

Asia Session:

GMT

CCY

EVENT

ACT

EXP

PREV

23:50

JPY

Corporate Service Price (YoY)

-0.2%

-0.2%

-0.4%

1:45

CNY

HSBC Flash Manufacturing PMI

50.4

52.2

52.3

Euro Session:

GMT

CCY

EVENT

EXP

PREV

IMPACT

9:30

GBP

BBA Loans for House Purchase

34000

33636

Medium

10:00

EUR

Italy to Sell 2014 Bonds, 2021-26 I/L Bonds

-

-

Medium

14:00

EUR

Polls Close in Italian General Election

-

-

High

Critical Levels:

CCY

SUPPORT

RESISTANCE

EURUSD

1.3144

1.3244

GBPUSD

1.5056

1.5268

--- 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, please CLICK HERE

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed

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

DISCLOSURES