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
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
Gold
Bullish
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
Mixed
More View more
Real Time News
  • Ten-Year US Treasury yields breaking out above 165-basis points following notably hotter-than-expected inflation data this morning. Headline and core CPI both topped market forecast with readings of 4.2% and 3.0%, respectively. I previewed this scenario yesterday on @tradingview. https://t.co/Fgc0RZe2nw https://t.co/VHmkcuJm9p
  • 🇧🇷 Business Confidence (MAY) Actual: 58.5 Previous: 53.7 https://www.dailyfx.com/economic-calendar#2021-05-12
  • Please join @PeterHanksFX at 11:00 EST/15:00 GMT for your weekly stock market outlook. Register here: https://t.co/nqJWK4f4sl https://t.co/dp4faqlMl7
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 89.86%, while traders in GBP/USD are at opposite extremes with 68.99%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/hu9IfBFkzq
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.48% Gold: -0.31% Silver: -0.52% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/WOwgbEuZec
  • Heads Up:🇧🇷 Business Confidence (MAY) due at 14:00 GMT (15min) Previous: 53.7 https://www.dailyfx.com/economic-calendar#2021-05-12
  • Mid-Week Strategy webinar begins right now and there's some vol to work with https://www.dailyfx.com/webinars/140187219 Topics: 1) Big inflation beat, USD gives back gains 2) EUR/USD jumping right back into resistance zone after CPI release 3) Gold - bull flag remains in-play Let's go
  • Indices Update: As of 13:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.76% Germany 30: 0.26% France 40: 0.18% Wall Street: -0.40% US 500: -0.75% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/RqkV6znl1S
  • US inflation (April) is expected to jump to 3.6% y/y. USD41 billion 10-year USTs hit the street later in the session. Get your market update from @nickcawley1 here:https://t.co/jbDHCCgwME https://t.co/gsJqv03UDs
  • Core inflation CPI - excluding the typical volatile items like food and fuel - charged to the fastest clip of growth (+2.96%) since December 1995
Yen Drops as Turkey Coup Fizzles, NZ Dollar Falls on RBNZ Bets

Yen Drops as Turkey Coup Fizzles, NZ Dollar Falls on RBNZ Bets

Ilya Spivak, Head Strategist, APAC

Talking Points:

  • Aussie and Canadian Dollars rise, Yen falls as risk appetite firms overnight
  • NZ Dollar drops as soft 2Q CPI data adds fuel to RBNZ rate cut speculation
  • Sentiment may continue to swell if BOE’s Weale hints at easing in August

The sentiment-linked Australian and Canadian Dollars are trading higher alongside share prices while the anti-risk Japanese Yen is facing selling pressure at the start of the trading week. Financial markets appear to be breathing a sigh of relief after an attempted military coup in Turkey over the weekend seems to have failed.

The New Zealand Dollar is diverging from its commodity bloc counterparts, with prices sinking after a disappointing second-quarter CPI data. The report put the benchmark year-on-year inflation rate at 0.4 percent, lower than the 0.5 percent projected by economists. The currency fell alongside front-end bond yields, hinting markets saw the data as boosting the chance of RBNZ easing. As it stands, traders price in the chance of an August reduction in the cash rate at 70 percent.

Looking ahead, a quiet economic data docket in European and US trading hours is likely to keep sentiment trends at the forefront. Speculation about the aftermath of the UK Brexit referendum may reemerge as the central theme on this front as Bank of England MPC committee member Martin Weale speaks about implications of the vote’s outcome on central bank policy.

Rhetoric supporting the likelihood of stimulus expansion in August in line with hints offered in last week’s policy announcement is likely to prove supportive for risk appetite. This seems likely to keep the commodity Dollars well-supported while pressuring the Yen.

Another helping of second-quarter corporate earnings reports is also worth noting. From a macro sentiment trends perspective, numbers from Bank of America and the cycle-sensitive JB Hunt Transport Services ought to prove most interesting this time around.

Is picking price direction accurately most important for successful trading? See our study here!

Asia Session

GMT

CCY

EVENT

ACT

EXP

PREV

22:30

NZD

Performance Services Index (JUN)

56.7

-

56.9

22:45

NZD

CPI (QoQ) (2Q)

0.4%

0.5%

0.2%

22:45

NZD

CPI (YoY) (2Q)

0.4%

0.5%

0.4%

23:01

GBP

Rightmove House Prices (MoM) (JUL)

-0.9%

-

0.8%

23:01

GBP

Rightmove House Prices (YoY) (JUL)

4.5%

-

5.5%

01:30

CNY

China June Property Prices

-

-

-

European Session

GMT

CCY

EVENT

EXP

PREV

IMPACT

08:00

CHF

Total Sight Deposits (JUL 15)

-

510.5b

Low

08:00

CHF

Domestic Sight Deposits (JUL 15)

-

434.1b

Low

08:15

GBP

BOE's Weale Speaks on Brexit MonPol Impact

-

-

Medium

Critical Levels

CCY

Supp 3

Supp 2

Supp 1

Pivot Point

Res 1

Res 2

Res 3

EURUSD

1.0822

1.0946

1.0990

1.1070

1.1114

1.1194

1.1318

GBPUSD

1.2570

1.2919

1.3056

1.3268

1.3405

1.3617

1.3966

--- 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