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
Bullish
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
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
Mixed
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • The Dollar's tumble this past week was an abrupt one. We'll see if inflation pressures trigger a shift in risk and rate expectations in the US which could turn the USD's bearings. Meanwhile, a pair I haven't highlighted ... https://t.co/yXl1aoOlIy https://t.co/TWV7tqv2y8
  • $DOGEUSD's daily range post Elon SNL spot is 0.2900. That may not sound like a lot but the current spot rate is ~ 0.5600. The lower wick (reversal from Sunday's low) is a 35% recovery from the low. A speculator's market, not an investor's. https://t.co/hAjg8YO7xA
  • What are some factors driving AUD? Get your free forecast for this quarter here:https://t.co/z85CIVYiuK #DailyFXGuides https://t.co/ZhVyZvw5Ii
  • Last week ended well for $EURUSD, with Friday’s shockingly poor US jobs data giving it a lift, and this week could well see its advance extend if it can break conclusively above resistance at 1.2150. Get your market update from @MartinSEssex here: https://t.co/EFPGUI8Uxc https://t.co/LZA6oXsmJO
  • $GBPUSD broke higher from a Symmetrical Triangle pattern late last week. Meanwhile, $EURGBP remains largely rangebound. Get your market update from @FxWestwater here: https://t.co/hnjGCww0ET https://t.co/0LcIv5Yudg
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here: https://t.co/vg7w10la3j https://t.co/0gwSneZjOL
  • Another week of record breaking gains in the alt-coin space, while Ethereum (ETH) continues to print fresh highs and eats into Bitcoin’s (BTC) market dominance. Get your market update from @nickcawley1 here: https://t.co/robpKfDf8U https://t.co/3sOzL01rcI
  • The non-farm payroll (NFP) figure is a key economic indicator for the United States economy. It is also referred to as the monthly market mover. Find out why it has been given this nickname here: https://t.co/yOUVEEqhc5 https://t.co/K1F3QlB8ik
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here: https://t.co/QszmdZFxlk https://t.co/cXImPrjl8x
  • Crude Oil Forecast: Oil Prices Edge Lower Toward Trend Support -via @DailyFX WTI #CrudeOil closed the week slightly higher on balance, but the commodity is struggling at resistance as bears look to challenge trend support. Link to Full Analysis: https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2021/05/08/crude-oil-forecast-oil-prices-edge-lower-toward-trend-support.html #OOTT https://t.co/MvtP36QxY8
Forex: US Dollar Outlook Clouded on Conflicting Clues Before Jobs Data

Forex: US Dollar Outlook Clouded on Conflicting Clues Before Jobs Data

Ilya Spivak, Head Strategist, APAC

Talking Points:

  • Japanese Yen Falls as Nikkei 225 Rallies on GPIF Portfolio Reallocation
  • US Dollar Gains as Traders Look Ahead to November’s US Jobs Report
  • Leading Economic Data Offers Mixed Clues on US Labor Market Health

Get Real-Time Feedback on Your Trades with DailyFX on Demand!

The Japanese Yen fell amid ebbing haven for the safety-linked currency as the Nikkei 225 advanced. The rally followed comments from Takatoshi Ito, chairman of an advisory panel to Japan’s Government Pension Investment Fund. Ito said GPIF should cut its holding of JGBs from 58 to 52 percent of total assets and redirect capital into Japanese equities. The US Dollar rallied against all of its leading counterparts as traders looked ahead to November’s US Employment report.

Economists expect the US economy to have added 185,000 jobs in November, a narrow slowdown compared with October’s 204,000 increase. Yesterday’s supportive Jobless Claims data set and Wednesday’s better-than-expected ADP Employment report have fed speculation about an upside surprise however. Such an outcome stands to boost the greenback as traders price in the probability of a sooner move to “taper” QE asset purchases by the Federal Reserve.

Needless to say, a soft print stands to yield the opposite dynamic. The probability of such a result is not insignificant. Indeed, the Employment sub-index in November’s service-sector ISM report ominously showed the pace of hiring activity slowed to the weakest in six months. The non-manufacturing sector accounts for close to 80 percent of the employed, meaning a downturn there bodes ill for the US labor market as a whole.

New to FX? START HERE!

Asia Session:

GMT

CCY

EVENT

ACT

EXP

PREV

22:30

AUD

AiG Perf. of Construction Index (NOV)

55.2

-

54.4

23:50

JPY

Official Reserve Assets ($) (NOV)

1275.4B

-

1276.8B

5:00

JPY

Coincident Index (OCT P)

109.6

109.8

108.4

5:00

JPY

Leading Index (OCT P)

109.9

109.7

109.2

5:30

AUD

Foreign Reserves (A$) (NOV)

59.9B

-

57.2B

Euro Session:

GMT

CCY

EVENT

EXP/ACT

PREV

IMPACT

8:00

CHF

Foreign Currency Reserves (NOV)

435.7B (A)

434.7B

Low

8:00

GBP

Halifax House Prices (MoM) (NOV)

1.1% (A)

0.7%

Low

8:00

GBP

Halifax House Prices (3M/Y) (NOV)

7.7% (A)

6.9%

Low

8:15

CHF

CPI (MoM) (NOV)

0.0% (A)

-0.1%

Medium

8:15

CHF

CPI (YoY) (NOV)

0.1% (A)

-0.3%

Medium

8:15

CHF

CPI - EU Harmonized (MoM) (NOV)

-0.3% (A)

-0.1%

Low

8:15

CHF

CPI - EU Harmonized (YoY) (NOV)

0.2% (A)

0.0%

Low

9:30

GBP

BoE/GfK Inflation Next 12 Mths (NOV)

-

3.2%

Low

11:00

EUR

German Factory Orders (MoM) (OCT)

-1.0%

3.3%

Medium

11:00

EUR

German Factory Orders (YoY) (OCT)

4.1%

7.9%

Medium

Critical Levels:

CCY

SUPP 3

SUPP 2

SUPP 1

Pivot Point

RES 1

RES 2

RES 3

EURUSD

1.3361

1.3495

1.3581

1.3629

1.3715

1.3763

1.3897

GBPUSD

1.6140

1.6243

1.6288

1.6346

1.6391

1.6449

1.6552

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

To receive Ilya's analysis directly via email, please SIGN UP HERE

Contact and follow Ilya on Twitter: @IlyaSpivak

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

DISCLOSURES