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
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
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
Bullish
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • Heads Up:🇦🇺 Ai Group Services Index (APR) due at 22:30 GMT (15min) Previous: 58.7 https://www.dailyfx.com/economic-calendar#2021-05-06
  • The US Dollar is still struggling against most ASEAN currencies. USD/SGD remains downside-focused despite recent gains. USD/THB is eyeing a triangle. USD/IDR and USD/PHP may point lower. Get your market update from @ddubrovskyFX here:https://t.co/6Nvvmz8h6d https://t.co/dX69A341oc
  • US Dollar Outlook: USD/CAD Volatility to Rise, Jobs Data Looms -via @DailyFX Link to Full Analysis: https://www.dailyfx.com/forex/fundamental/us_dollar_index/usd_trading_today/2021/05/06/us-dollar-outlook-usd-cad-volatility-to-rise-jobs-data-looms.html #NFP $DXY $USDCAD https://t.co/OIYZ2YXxLK
  • Heads Up:🇺🇸 Fed Kaplan Speech due at 22:05 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-05-06
  • The Federal Reserve discussed the vulnerability of asset prices should appetite change. Get your market update here: https://t.co/0nAEKEX1eh https://t.co/BD24UcDeyT
  • EUR/USD stronger amid broad USD weakness on Thursday $EURUSD https://t.co/h042KoSyuA
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.98% 🇨🇭CHF: 0.60% 🇦🇺AUD: 0.49% 🇳🇿NZD: 0.26% 🇯🇵JPY: 0.11% 🇬🇧GBP: -0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/4u2cNfSmLn
  • RT @BrendanFaganFx: Federal Reserve Hints at Potential Declines in Asset Prices, Calls for Hedge Fund Transparency #Fed #FederalReserve #F…
  • Both EUR/JPY and EUR/USD are hovering near multi-year downtrend downtrends, while EUR/GBP may still have more room to the topside. Get your $EUR market update from @CVecchioFX here:https://t.co/2SYCKwz8hz https://t.co/tj6UQUDzRL
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 3.18% Gold: 1.61% Oil - US Crude: 0.31% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/mo9LS3teJl
Pound Eyes Carney Comments, Risk Aversion Poised to Continue

Pound Eyes Carney Comments, Risk Aversion Poised to Continue

Ilya Spivak, Head Strategist, APAC

Talking Points:

  • Euro Unlikely to Find Lasting Follow-Through in German Inflation Figures
  • British Pound Looks to Carney Comments for Cues After Hitting 5-Month Low
  • See Economic Releases Directly on Your Charts with the DailyFX News App

Risk aversion continued to dominate financial markets in overnight trade. The sentiment-geared Australian and New Zealand Dollars plunged alongside Asian stocks while the safety-linked Japanese Yen outperformed. The MSCI Asia Pacific regional benchmark equity index fell 2 percent in a follow-on move after a deep slump on Wall Street.

S&P 500 futures are pointing substantively lower ahead of the opening bell in Europe, hinting the risk-off dynamic is likely to continue in the hours ahead. The preliminary set of September’s German CPI figures is in focus on the economic data front. The benchmark year-on-year inflation rate is expected to tick lower to 0.1 percent, the lowest in seven months.

News-flow out of the Eurozone’s largest economy has increasingly outperformed relative to consensus forecast since early July, opening the door for an upside surprise. The Euro may not see significant follow-through from such a result however considering the central bank has dismissed re-visiting the size of its QE effort before December.

Meanwhile, Bank of England Governor Mark Carney is due to speak. Interest rate hike expectations have unraveled alongside a plunge in global share prices since mid-month, suggesting traders are betting that market turmoil will encourage the MPC to wait before starting to remove accommodation. The British Pound has dutifully declined, touching a five-month low against the US Dollar late last week.

Carney had been somewhat dismissive of risk trends’ impact on the trajectory of monetary policy and traders will look for a dovish tone shift this time around to confirm their suspicions. The UK unit is likely to extend losses in this scenario. Alternatively, comments paving the way for tightening in the relatively near term may offer a lifeline to the embattled currency, although it ought to be kept in mind that similar rhetoric has been unable to offer lasting support in recent weeks.

New to FX? START HERE!

Asia Session

GMT

CCY

EVENT

ACT

EXP

PREV

21:00

USD

Fed's Williams Speaks on Economic Outlook

-

-

-

23:30

AUD

Weekly Consumer Confidence Index (SEP 27)

110.6

-

114.5

00:37

CNY

Leading Index (AUG)

98.23

-

98.4

05:00

JPY

Small Business Confidence (SEP)

49.0

48.3

48.8

European Session

GMT

CCY

EVENT

EXP

PREV

IMPACT

06:00

EUR

German Import Price Index (MoM) (AUG)

-1.4%

-0.7%

Medium

06:00

EUR

German Import Price Index (YoY) (AUG)

-3.0%

-1.7%

Medium

08:30

GBP

Net Consumer Credit (£) (AUG)

1.2B

1.2B

Low

08:30

GBP

Net Lending Sec. on Dwellings (£) (AUG)

2.9B

2.7B

Low

08:30

GBP

Mortgage Approvals (AUG)

69.8k

68.8k

Medium

08:30

GBP

M4 Money Supply (MoM) (AUG)

-

1.0%

Low

08:30

GBP

M4 Money Supply (YoY) (AUG)

-

0.6%

Low

08:30

GBP

M4 Ex IOFCs 3M Annualised (AUG)

3.9%

3.7%

Low

09:00

EUR

Eurozone Economic Confidence (SEP)

104.1

104.2

Low

09:00

EUR

Eurozone Business Climate Indicator (SEP)

0.21

0.21

Low

09:00

EUR

Eurozone Industrial Confidence (SEP)

-3.8

-3.7

Low

09:00

EUR

Eurozone Services Confidence (SEP)

10.0

10.2

Low

09:00

EUR

Eurozone Consumer Confidence (SEP F)

-7.1

-7.1

Medium

10:00

GBP

CBI Reported Sales (SEP)

28.0

24.0

Low

12:00

EUR

German CPI (MoM) (SEP P)

-0.1%

0.0%

High

12:00

EUR

German CPI (YoY) (SEP P)

0.1%

0.2%

High

12:00

EUR

German CPI - EU Harmonized (MoM) (SEP P)

-0.1%

0.0%

Medium

12:00

EUR

German CPI - EU Harmonized (YoY) (SEP P)

0.0%

0.1%

Medium

Critical Levels

CCY

Supp 3

Supp 2

Supp 1

Pivot Point

Res 1

Res 2

Res 3

EURUSD

1.1011

1.1112

1.1178

1.1213

1.1279

1.1314

1.1415

GBPUSD

1.5025

1.5108

1.5141

1.5191

1.5224

1.5274

1.5357

--- 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