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
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
Bullish
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
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
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
  • Protests in Colombia may continue to pressure the Peso, but surging commodity prices and a weaker Greenback could curb USD/COP gains. Get your market update here:https://t.co/vcVH75xuKI https://t.co/kEvbsagB4a
  • Money never sleeps.... https://t.co/mAkpWd2M3O
  • The US exchanges are closed and now we have to turn over to the cryptocurrency charts to monitor developments in risk trends over the weekend. Unfortunately, it can be difficult to separate systemic sentiment influences vs isolated issues (like a celebrity's tweet about a coin)
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.93% 🇦🇺AUD: 0.72% 🇪🇺EUR: 0.55% 🇨🇦CAD: 0.50% 🇬🇧GBP: 0.32% 🇯🇵JPY: 0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/rzD7Gp4VIC
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 1.17% Gold: 0.92% Oil - US Crude: 0.22% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/TU8HEn8Gbk
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.44%, while traders in France 40 are at opposite extremes with 73.01%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/M5ItmLXuiw
  • The Australian Dollar plummeted more than 1.4% against the US Dollar since the start of the week with AUD/USD reversing off technical resistance at the yearly high-close. Get your $AUD market update from @MBForex here:https://t.co/72ORZ3wZwx https://t.co/zG3UzI6bRc
  • US Markets Weekly Performance: S&P 500: -1.39% Nasdaq 100: -2.34% Dow Jones: -1.14% $SPX $NDX $DJX
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: France 40: 0.58% Germany 30: 0.35% FTSE 100: 0.33% Wall Street: -0.00% US 500: -0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/TUoFzlS6AX
  • https://t.co/xBh8Jp8QRu
Yen Soars, US Dollar Drops as the Trump Trade Fizzles

Yen Soars, US Dollar Drops as the Trump Trade Fizzles

Ilya Spivak, Head Strategist, APAC

Talking Points:

  • AHCA healthcare bill failure throws the “Trump trade” into reverse
  • Fed rate hike speculation fizzles against a backdrop of risk aversion
  • Yen up, US Dollar down, stock futures hinting at more of the same

The US Dollar slumped against its major counterparts to start the trading week. Fed rate hike speculation cooled, undermining yield-based support for the benchmark currency, after last week’s failure of the AHCA healthcare reform bill.

The measure’s fate was treated as a referendum on the Trump administration’s ability to turn campaign rhetoric into policy. Doubts about the narrative at the heart of the “Trump trade” – that the President’s expansionary fiscal stance will boost growth and inflation alike – have multiplied.

Not surprisingly, that has also meant that the flattening of the expected Fed rate path has been accompanied by risk aversion. Stocks suffered in Asian trade and the perennially anti-risk Japanese Yen dutifully advanced, proving to be the strongest performer in G10 FX.

Germany’s IFO business confidence survey headlines an otherwise dull economic data docket in European trading hours. A slight uptick is expected, but this seem unlikely to mean much for the Euro in its own right considering its limited implications for near-term ECB policy trends.

Later in the day, comments from Charles Evans and Robert Kaplan, Presidents of the Chicago and Dallas Fed branches respectively, are scheduled to cross the wires. Fiscal uncertainty confounds the central bank as much as it does investors, so there may be little here to turn the risk-off tide.

European bourses are opening deeply in the red and US stock index futures are pointing to more of the same once Wall Street comes online. This argues for continuation of overnight trends, with the Yen leading the way higher against a battered greenback.

Have a question about trading financial markets? Join a Trading Q&A webinar and ask it live!

Asia Session

Yen Soars, US Dollar Drops as the Trump Trade Fizzles

European Session

Yen Soars, US Dollar Drops as the Trump Trade Fizzles

** All times listed in GMT. See the full DailyFX economic calendar here.

--- 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