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
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
Bearish
Wall Street
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
Gold
Mixed
GBP/USD
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
USD/JPY
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
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 91.32%, while traders in GBP/JPY are at opposite extremes with 69.27%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/kcsD3qjosI
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.87% Gold: 0.42% Silver: 0.39% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/SOyVF8iNo4
  • 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/LXxiXJecyJ
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.26% 🇳🇿NZD: 0.24% 🇨🇦CAD: 0.19% 🇯🇵JPY: 0.10% 🇦🇺AUD: 0.10% 🇬🇧GBP: 0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/HqraVadHCu
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: France 40: 0.73% Germany 30: 0.67% FTSE 100: 0.66% US 500: 0.64% Wall Street: 0.46% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/l7tN7uRmmb
  • 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/5M6zJ7kDnk
  • A “PIP” – which stands for Point in Percentage - is the unit of measure used by forex traders to define the smallest change in value between two currencies. Learn how to understand pips in forex here: https://t.co/AfAhmIoVZv https://t.co/Lp5XGaWX7n
  • 🇭🇰 GDP Growth Rate QoQ Final (Q1) Actual: 5.4% Previous: 0.5% https://www.dailyfx.com/economic-calendar#2021-05-14
  • 🇭🇰 GDP Growth Rate YoY Final (Q1) Actual: 7.9% Previous: -2.8% https://www.dailyfx.com/economic-calendar#2021-05-14
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/zEEUHZBx7g https://t.co/zD9UMxLCzr
NZ Dollar, Yen Soar as RBNZ and BOJ Talk Down Stimulus Bets

NZ Dollar, Yen Soar as RBNZ and BOJ Talk Down Stimulus Bets

Ilya Spivak, Head Strategist, APAC

Talking Points:

  • Yen gains as BOJ’s Kuroda holds back from signaling stimulus expansion
  • NZ Dollar higher after RBNZ’s Spencer talks down rate hike speculation
  • Australian Dollar spikes downward after S&P downgrades credit outlook

The Japanese Yen traded higher overnight after BOJ Governor Haruhiko Kuroda offered no tangible clues about near-term monetary stimulus expansion at a meeting of the central bank’s branch managers. Kuroda stuck to a familiar script, saying Japan’s moderate recovery continues and the financial system remains stable. He added that easing will continue until inflation is stable at 2 percent and promised further accommodation will be provided if that is deemed necessary.

Markets have speculated that the BOJ may redouble its efforts after the Yen surged to the highest level in nearly four years against its major counterparts on the back of risk aversion following the “Brexit” referendum, complicating officials’ attempts to stoke inflation.

The New Zealand Dollar likewise advanced after RBNZ Deputy Governor Grant Spencer said that further interest rate cuts “could pose financial stability risk”. He added that the central bank is concerned about imbalances in the housing market and offered that new limits on property investment may be unveiled by year-end. Spencer flagged policies based on debt-to-income ratios and a single national LVR limit as possibilities.

The Australian Dollar spiked downward after Standard & Poor’s downgraded its outlook for Australia’s credit rating from “stable” to “negative”. The move followed the weekend’s federal election, where preliminary results hint at the possibility that Prime Minister Malcolm Turnbull will have to form a minority government.

The ratings giant said that “without the implementation of more forceful fiscal policy decisions,” which will presumably prove difficult to push through parliament if Turnbull can’t muster a majority, “material government budget deficits will persist for several years with little improvement.” The S&P reckoned that there is a “one-in-three chance” of stripping Australia of its AAA rating within the next two years. Such a result may push up overall borrowing costs and weigh on economic growth.

Looking ahead, a quiet economic calendar in European and US trading hours may make for a consolidative tone as markets await Friday’s release of June’s much-anticipated US jobs report. The path of least resistance may favor a risk-off tone as positioning shifts toward a more neutral setting after yesterday’s sentiment rebound. S&P 500 index futures are trading flat in late Asian trade however, hinting at muted conviction.

Significant follow-through seems unlikely, with market participants probably leery of pre-committing to a strong directional bias at this point. However, a jittery disposition in the aftermath of recent volatility makes for particularly acute sensitivity to headline risk and an elevated threat of kneejerk price swings.

Where are the major currencies going in 3Q? See our forecasts here!

Asia Session

GMT

CCY

EVENT

ACT

EXP

PREV

22:00

NZD

ANZ Truckometer Heavy MoM (JUN)

4.7%

-

-2.70%

23:01

GBP

Lloyds Business Barometer (JUN)

6

-

32

23:50

JPY

Official Reserve Assets ($) (JUN)

1265.4b

-

1254.0b

00:30

JPY

BOJ's Kuroda Speaks at Branch Managers' Meeting

-

-

-

02:00

JPY

Tokyo Avg Office Vacancies (%) (JUN)

4.07

-

4.05

05:00

JPY

Leading Index CI (MAY P)

100.0

100.0

100.0

05:00

JPY

Coincident Index (MAY P)

110.5

110.3

112.0

05:30

NZD

RBNZ Deputy Governor Speaks on Housing

-

-

-

European Session

GMT

CCY

EVENT

EXP/ACT

PREV

IMPACT

06:00

EUR

German Industrial Production (MoM) (MAY)

-1.3% (A)

0.5%

Medium

06:00

EUR

German Industrial Production (YoY) (MAY)

-0.4% (A)

0.8%

Medium

06:30

AUD

Foreign Reserves (A$) (JUN)

-

80.1b

Low

07:00

CHF

Foreign Currency Reserves (JUN)

-

602.1b

Low

07:15

CHF

CPI (MoM) (JUN)

0.1%

0.1%

Medium

07:15

CHF

CPI (YoY) (JUN)

-0.5%

-0.4%

Medium

07:15

CHF

CPI - EU Harmonized (MoM) (JUN)

0.0%

0.1%

Low

07:15

CHF

CPI - EU Harmonized (YoY) (JUN)

-0.5%

-0.5%

Low

07:30

GBP

Halifax House Prices (MoM) (JUN)

0.3%

0.6%

Medium

07:30

GBP

Halifax House Price (3Mths/Year) (JUN)

7.8%

9.2%

Medium

08:30

GBP

Industrial Production (MoM) (MAY)

-1.0%

2.0%

Medium

08:30

GBP

Industrial Production (YoY) (MAY)

0.5%

1.6%

Medium

08:30

GBP

Manufacturing Production (MoM) (MAY)

-1.2%

2.3%

Medium

08:30

GBP

Manufacturing Production (YoY) (MAY)

0.4%

0.8%

Medium

10:00

EUR

ECB's Lautenschlaeger Speaks in Madrid

-

-

Low

Critical Levels

CCY

Supp 3

Supp 2

Supp 1

Pivot Point

Res 1

Res 2

Res 3

EURUSD

1.0914

1.0997

1.1049

1.1080

1.1132

1.1163

1.1246

GBPUSD

1.2459

1.2689

1.2810

1.2919

1.3040

1.3149

1.3379

--- 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