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
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
Oil - US Crude
Mixed
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
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
GBP/USD
Mixed
USD/JPY
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
More View more
Real Time News
  • The Federal Reserve has made a powerful statement about its commitment to shoring up offshore $USD funding markets through the #coronavirus spread. Get your market update from @DavidCottleFX here:https://t.co/fLZjxjr4L9 https://t.co/UdRor0d92U
  • The #Euro has dropped through support guiding it higher from late-March lows, suggesting that the end of a corrective rebound has given way to downtrend resumption. Get your $EURUSD market update from @IlyaSpivak here: https://t.co/gpKowYNmGi https://t.co/CY7RuZf91s
  • What are a few of the common trading mistakes made by traders? Find out from @WVenketas here: https://t.co/Q3sPmP2rya #tradingstyle https://t.co/ayjehPGEeT
  • $USDCAD came close to taking out the 17-year-high just a few weeks ago, but this was followed by an aggressive pullback down below the 1.4000 handle.Get your USD/CAD technical analysis from @JStanleyFX here: https://t.co/aWmL2rlWzG https://t.co/cauVFdBxsd
  • Follow up: S&P affirms 🇩🇪Germany's AAA/A-1+ rating, outlook stable (BBG). As for PMI data, it painted a darker picture⬇️ Final print for services: 31.7, preliminary: 34.5 Final print for composite: 35.0, preliminary: 37.2 https://t.co/x2SESwo0zr
  • RT @NorthmanTrader: You need to click to expand to see this chart via @byHeatherLong https://t.co/tXd4T45FqS
  • #Dow Jones: The blue-chip index lags the S&P 500 and #Nasdaq 100 as Boeing continues to weigh on the Industrial Average. Get your market update from @PeterHanksFX here: https://t.co/Z495djPG07 https://t.co/3rTF8I3KBg
  • $USDMXN: A breakout above 25.44 will get it to a new highs. Get your USD/MXN market update from @PaulRobinsonFX here: https://t.co/KFRLmtBZsv https://t.co/Lo3bvThH0w
  • #Gold closed above the 50-day average providing a bullish signal. Get your $XAUUSD technical analysis from @malkudsi here:https://t.co/h3yVqIxwVc $gld https://t.co/0xqiCWFaml
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: -0.31% 🇨🇦CAD: -0.43% 🇪🇺EUR: -0.48% 🇳🇿NZD: -1.00% 🇬🇧GBP: -1.03% 🇦🇺AUD: -1.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/ST3oKR8Kyt
Forex: Yen, Aussie Dollar Responses to Crimea Referendum Swiftly Fizzle

Forex: Yen, Aussie Dollar Responses to Crimea Referendum Swiftly Fizzle

2014-03-17 03:19:00
Ilya Spivak, Head Strategist, APAC
Share:

Talking Points:

  • Euro Volatility Risk Skewed to the Downside on Revised Eurozone CPI Data
  • Aussie Dollar Drops, Yen Rallies as Crimea Votes to Leave Ukraine for Russia
  • Geopolitical Stress Proves Transitory, Monitoring Follow-On Theatrics Key

The final revision of February’s Eurozone CPI data headlines the economic calendar in European hours. Expectations suggest flash estimates putting the headline year-on-year inflation rate at 0.8 percent will be confirmed. A revision downward may sting the Euro amid speculation the ECB will be forced to expand stimulus efforts to counter persisting disinflation. An upgrade may produce the opposite effect, but follow-through is likely to be limited: ECB standstill represents the established status-quo and data arguing for more of the same is unlikely to materially bolster the single currency. We have now sold the Euro against the British Pound.

The Australian Dollar started the trading week on the defensive while the Japanese Yen advanced on back of geopolitically-driven risk aversion, but the moves did not prove lasting (as expected). The initially dour mood reflected the outcome of a referendum in Crimea where over 90 percent of respondents opted of the semi-autonomous region’s secession from the Ukraine and annexation to Russia.

While an upsetting of the geopolitical status quo is typically treated as risk-negative by the markets because of the accompanying uncertainty, the referendum outcome was widely expected and so did not yield a sustained response from investors. Monitoring follow-on theatrics (including Moscow’s work on a legislative framework allowing Crimea’s absorption into Russia) will be important in gauging further market-moving potential.

New to FX? START HERE!

Asia Session

GMT

CCY

EVENT

ACT

EXP

PREV

21:00

NZD

Westpac NZ Consumer Confidence (1Q)

121.7

-

120.1

21:30

NZD

Performance Services Index (FEB)

53.1

-

57.8

0:01

GBP

Rightmove House Prices (MoM) (MAR)

1.6%

-

3.3%

0:01

GBP

Rightmove House Prices (YoY) (MAR)

6.8%

-

6.9%

0:30

AUD

New Motor Vehicle Sales (MoM) (FEB)

0.1%

-

-4.0%

0:30

AUD

New Motor Vehicle Sales (YoY) (FEB)

-3.5%

-

-3.0%

European Session

GMT

CCY

EVENT

EXP

PREV

IMPACT

10:00

EUR

Euro-Zone CPI (MoM) (FEB)

0.4%

-1.1%

Medium

10:00

EUR

Euro-Zone CPI (YoY) (FEB F)

0.8%

0.8%

Medium

10:00

EUR

Euro-Zone CPI - Core (YoY) (FEB F)

1.0%

1.0%

Medium

Critical Levels

CCY

Supp 3

Supp 2

Supp 1

Pivot Point

Res 1

Res 2

Res 3

EUR/USD

1.3722

1.3811

1.3862

1.3900

1.3951

1.3989

1.4078

GBP/USD

1.6504

1.6566

1.6607

1.6628

1.6669

1.6690

1.6752

--- 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

News & Analysis at your fingertips.