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
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/Yl9vM7kO6a https://t.co/3f5sLijsVB
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/PO93mIKAZP
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here: https://t.co/KDjIjLdTSk https://t.co/CHE6IOq3K5
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Learn about the importance of the ISM manufacturing index here: https://t.co/Xr3xtoFpZy https://t.co/Agl1q6EQyu
  • Take a closer look visually at the most influential global importers and exporters here: https://t.co/G58J1dg6y3 https://t.co/UmubxiDXGc
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here: https://t.co/rz7fqhRoMG https://t.co/e4G1gTGhex
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here: https://t.co/kODPAfJE79 https://t.co/pS48NIuwqX
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here: https://t.co/arxYmtQeUn https://t.co/gFVVZTGbe1
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here: https://t.co/CNtqrKWDBY https://t.co/nHXiNJhLes
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/h0TmJcZeqr
US Dollar May Follow Yen Lower as Risk Appetite Swells

US Dollar May Follow Yen Lower as Risk Appetite Swells

Ilya Spivak, Head Strategist, APAC

Talking Points:

  • Yen drops as risk appetite firms on US jobs report, Japan election outcome
  • Australian, NZ Dollars correct lower having outperformed in Friday’s trade
  • US Dollar may be pressured as sentiment improves across financial markets

The Australian and New Zealand Dollars corrected lower after Friday’s having outperformed on Friday following better-than-expected US payrolls data. The anti-risk Japanese Yen traded lower against a backdrop of improving sentiment as Asian bourses had their opportunity to react to the upbeat result. Traders cheered signs of strength in the world’s largest economy on hopes that it will counter weakness in Europe following the UK “Brexit” referendum.

The results of an upper house election in Japan held over the weekend offered an additional boost to sentiment. The ruling coalition led by the LDP party of Prime Minister Shinzo Abe won a supermajority in the chamber, which markets expected to give the government a platform to launch fiscal stimulus measures. Mr. Abe delivered accordingly, saying he will order the preparation of a pro-growth package immediately.

As to the details of what is to come, the Prime Minister said the aim will be to make the most of the zero-interest-rate environment to develop infrastructure including high-speed train lines and tourist facilities. Abe also pointed to social programs including support for child-rearing and assorted labor-market reforms, including a cut to the number of years workers must pay in to be eligible for pensions.

Looking ahead, a muted data docket puts Fed-speak in the spotlight, with comments from Kansas City Fed President Esther George due to cross the wires. Ms. George stands out as the most hawkish member of the FOMC, so markets are unlikely to extrapolate what she says as the consensus on the rate-setting committee if she sticks to a familiar script favoring continued rate hikes. Still, she may offer some insight on the way that policymakers are approaching stimulus withdrawal plans in the post-Brexit vote environment.

Comments cosigning the Fed’s wait-and-see posture may prove most market-moving. Newfound reluctance on the hawkish end on the spectrum of FOMC officials may encourage hopes that tightening has been taken off the near-term agenda, boosting risk appetite. The Aussie and Kiwi Dollars may find renewed support in this environment while the Yen may be joined by the US Dollar on the defensive.

Losing money trading in the FX market? This might be why.

Asia Session

GMT

CCY

EVENT

ACT

EXP

PREV

01:30

CNY

CPI (YoY) (JUN)

1.9%

1.8%

2.0%

01:30

CNY

PPI (YoY) (JUN)

-2.6%

-2.5%

-2.8%

22:45

NZD

Card Spending Retail (MoM) (JUN)

1.2%

0.5%

-0.3%

22:45

NZD

Card Spending Total (MoM) (JUN)

1.0%

-0.6%

23:50

JPY

Machine Orders (MoM) (MAY)

-1.4%

3.2%

-11.0%

23:50

JPY

Machine Orders (YoY) (MAY)

-11.7%

-8.7%

-8.2%

23:50

JPY

Money Stock M2 (YoY) (JUN)

3.4%

3.4%

3.4%

23:50

JPY

Money Stock M3 (YoY) (JUN)

2.9%

2.8%

2.8%

01:30

AUD

Home Loans (MoM) (MAY)

-1.0%

-2.0%

1.4%

01:30

AUD

Investment Lending (MAY)

3.9%

-

-4.3%

01:30

AUD

Owner-Occupier Loan Value (MoM) (MAY)

-0.6%

-

-0.2%

06:00

JPY

Machine Tool Orders (YoY) (JUN P)

-19.9%

-

-24.7%

European Session

GMT

CCY

EVENT

EXP

PREV

IMPACT

8:00

EUR

Italian Industrial Production (MoM) (MAY)

0.1%

0.5%

Low

8:00

EUR

Italian Industrial Production WDA (YoY) (MAY)

1.1%

1.8%

Low

8:00

EUR

Italian Industrial Production NSA (YoY) (MAY)

-

-0.3%

Low

8:00

CHF

Total Sight Deposits

-

507.5b

Low

8:00

CHF

Domestic Sight Deposits

-

430.3b

Low

Critical Levels

CCY

Supp 3

Supp 2

Supp 1

Pivot Point

Res 1

Res 2

Res 3

EUR/USD

1..0822

1.0940

1.0995

1.1058

1.1113

1.1176

1.1294

GBP/USD

1.2676

1.2814

1.2884

1.2952

1.3022

1.3090

1.3228

--- 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