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
GBP/USD
Mixed
USD/JPY
Bullish
Gold
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
Oil - US Crude
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
Bitcoin
Bearish
More View more
Real Time News
  • $USDJPY may be set for a larger pullback on the back of a deteriorating risk environment amid the potential failure in US-China trade talks. Get your market update from @JMcQueenFX here:https://t.co/UOGT5xRX9v https://t.co/JLXsn96FQY
  • Poll: We've had some upgrades in a few growth forecasts from around the world recently and tomorrow brings the Nov PMIs (AUS, JPN, EZ and US). What do you think is the risk of a recession in 2020?
  • LIVE NOW: Join @JStanleyFX as he runs through price action set-ups for the FX and CFDs market. https://www.dailyfx.com/registerToSeminar?webinar=3952937094787220994&utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • staring now -> https://www.dailyfx.com/webinars/3952937094787220994?webinar=3952937094787220994&utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr https://t.co/fk3MmFxalj
  • That was a fast reversal in crude oil positioning among retail CFDs yesterday. Not as heavy a build up in short as we pressure 58 https://www.dailyfx.com/sentiment?CHID=9&QPID=917719 https://t.co/m1YFe8PEsM
  • LIVE IN 5 MINUTES: Join @JStanleyFX as he runs through price action set-ups for the FX and CFDs market. https://www.dailyfx.com/registerToSeminar?webinar=3952937094787220994&utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 98.09%, while traders in France 40 are at opposite extremes with 82.08%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/pxnhohjlR2
  • LIVE IN 15 MINUTES: Join @JStanleyFX as he runs through price action set-ups for the FX and CFDs market. https://www.dailyfx.com/registerToSeminar?webinar=3952937094787220994&utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • Crude #oil prices are approaching confluence downtrend resistance just higher at 58.45/61. Get your crude oil technical analysis from @MBForex here:https://t.co/YtqEw4joWZ #OOTT https://t.co/WISQjuukP4
  • Commodities Update: As of 17:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.77% Silver: -0.08% Gold: -0.30% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/MB2wIHd8Zh
Pound May Overlook UK GDP Upgrade, Aussie Dollar Drops on Capex Data

Pound May Overlook UK GDP Upgrade, Aussie Dollar Drops on Capex Data

2015-05-28 06:37:00
Ilya Spivak, Sr. Currency Strategist
Share:

Talking Points:

  • Australian Dollar Down as Capex Slump Fuels RBA Rate Cut Speculation
  • British Pound May Not Find Follow-Through in Revised UK GDP Figures
  • News-Flow from G7 Meeting Eyed for Guidance on Greece Funding Woes

The Australian Dollar underperformed in overnight trade, falling as much as 0.5 percent on average against its leading counterparts. The move followed a disappointing first-quarter Private Capital Expenditure reading.

The report showed capex spending fell 4.4 percent in the first three months of the year, marketing the largest drawdown since the third quarter of 2009. The currency’s decline tracked a drop in Australian front-end bond yields, suggesting the soft data set fueled RBA rate cut speculation.

The Yen briefly the lowest levels since 2002 against the US Dollar as Japan’s benchmark Nikkei 225 stock index spiked to a 15-year high, weighing on the safety-linked currency. Losses proved fleeting however as share prices reversed course.

The second revision of second-quarter UK GDP figures headlines the economic calendar in European trading hours. A slight upgrade showing output expanded 0.4 percent in the first three months of the year is expected. Initial estimates pointed to a 0.3 percent gain.

An upbeat outcome may prove supportive for the British Pound but follow-through seems unlikely to prove lasting considering the outcome’s limited implications for near-term BOE rate hike speculation. Indeed, the central bank’s latest quarterly Inflation Report suggested policymakers’ baseline assumption is for tightening to begin no sooner than mid-2016.

Traders will likewise continue to monitor news-flow emerging from the ongoing G7 finance ministers and central bank chiefs meeting in Dresden. The situation in Greece is likely to feature prominently in the discussion. The markets will be keen to gauge the tone of conversion considering the funding crisis’ formative impact on price action over recent days.

New to FX? START HERE!

Asia Session

GMT

CCY

EVENT

ACT

EXP

PREV

23:50

JPY

Retail Trade (YoY) (APR)

5.0%

5.5%

-9.7%

23:50

JPY

Retail Sales (MoM) (APR)

0.4%

1.1%

-1.9%

23:50

JPY

Large Retailers' Sales (APR)

8.6%

9.1%

-13.0%

01:30

AUD

Private Capital Expenditure (1Q)

-4.4%

-2.2%

-2.2%

European Session

GMT

CCY

EVENT

EXP

PREV

IMPACT

06:00

CHF

Trade Balance (APR)

-

2.52B

Low

06:00

CHF

Exports Real (MoM) (APR)

-

1.2%

Low

06:00

CHF

Imports Real (MoM) (APR)

-

-2.4%

Low

06:00

EUR

Import Price Index (MoM) (APR)

0.5%

1.0%

Low

06:00

EUR

Import Price Index (YoY) (APR)

-0.7%

-1.4%

Low

06:20

USD

Fed's Williams Speaks in Singapore

-

-

Medium

08:30

GBP

BBA Loans for House Purchase (APR)

39300

38751

Low

08:30

GBP

GDP (QoQ) (1Q P)

0.4%

0.3%

High

08:30

GBP

GDP (YoY) (1Q P)

2.5%

2.4%

High

08:30

GBP

Private Consumption (QoQ) (1Q P)

0.7%

0.6%

Low

08:30

GBP

Government Spending (QoQ) (1Q P)

0.3%

-0.2%

Low

08:30

GBP

Gross Fixed Capital Formation (QoQ) (1Q P)

0.9%

-0.6%

Low

08:30

GBP

Exports (QoQ) (1Q P)

-0.2%

4.6%

Low

08:30

GBP

Imports (QoQ) (1Q P)

1.2%

1.6%

Low

08:30

GBP

Total Business Investment (QoQ) (1Q P)

1.6%

-0.9%

Low

08:30

GBP

Total Business Investment (YoY) (1Q P)

-

3.7%

Low

08:30

GBP

Index of Services (MoM) (MAR)

0.0%

0.3%

Low

08:30

GBP

Index of Services (3M/3M) (MAR)

0.5%

0.7%

Low

09:00

EUR

Eurozone Economic Confidence (MAY)

103.5

103.7

Low

09:00

EUR

Eurozone Business Climate Indicator (MAY)

0.35

0.32

Low

09:00

EUR

Eurozone Industrial Confidence (MAY)

-3.0

-3.2

Low

09:00

EUR

Eurozone Services Confidence (MAY)

6.7

6.7

Low

09:00

EUR

Eurozone Consumer Confidence (MAY F)

-5.5

-5.5

Medium

Critical Levels

CCY

Supp 3

Supp 2

Supp 1

Pivot Point

Res 1

Res 2

Res 3

EURUSD

1.0668

1.0787

1.083

1.0906

1.0949

1.1025

1.1144

GBPUSD

1.5163

1.5284

1.5334

1.5405

1.5455

1.5526

1.5647

--- 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.