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
Bullish
Wall Street
Bearish
Gold
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
GBP/USD
Bearish
USD/JPY
Mixed
More View more
Real Time News
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.01% 🇪🇺EUR: -0.36% 🇨🇭CHF: -0.60% 🇨🇦CAD: -0.91% 🇦🇺AUD: -0.96% 🇳🇿NZD: -1.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/HWVSmqaiYF
  • The amount of breakouts the #USD saw against its major peers this week was fairly impressive Lots of opportunities here for reversing dominant downtrends that have been prevailing for about 14-15 months Stay tuned for my USD weekly technical outlook coming out this weekend!
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.19% Silver: -0.41% Gold: -0.57% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/J6vFrm0Psb
  • Post-Fed, plunging commodity prices are weighing down growth-sensitive currencies like the Canadian Dollar. Get your market update from @CVecchioFX here:https://t.co/RwM9qu0Zjv https://t.co/u6WFpqfcdZ
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Gold are long at 85.22%, while traders in France 40 are at opposite extremes with 70.57%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/O3dA4qOEid
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: France 40: 0.14% FTSE 100: 0.09% Germany 30: 0.06% Wall Street: -0.02% US 500: -0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/MFEjkHP34f
  • Fed's Kashkari: Maximum employment means at the very least back to pre-COVID levels of employment
  • Fed's Kashkari: - I am opposed to rate hikes at least through 2023 - The labor market is still in a deep hole; it will take some time to get people reattached to the work force
  • Fed's Kashkari: - The Fed's interest rate dot plot has provided too-hawkish guidance in the past, I am in favor of getting rid of it - I don't believe the Delta variant of COVID will force the US to return to lockdown
  • Fed's Kashkari: - The Fed is in a decent financial position, therefore it is fine to talk about tapering monthly asset purchases - I am not seeing evidence of unanchored inflation expectations, but if that does occur then we would need to adjust
Yen May Extend Gains as Aussie, NZ Dollars Fall in Dour Markets

Yen May Extend Gains as Aussie, NZ Dollars Fall in Dour Markets

Ilya Spivak, Head Strategist, APAC

Talking Points:

  • Yen gains, Aussie and Kiwi Dollars drop in risk-off APAC trade
  • Rumor that Trump fired NSA McMaster sent markets scrambling
  • FOMC pre-positioning may be the deeper cause of risk aversion

The markets were in a foul mood in Asia Pacific trade, with the sentiment-linked Australian and New Zealand Dollars following regional shares downward while the anti-risk Japanese Yen roared higher. Most of the move came amid reports that President Trump has fired National Security Advisor H.R. McMaster.

Tellingly, the risk-off mood persisted – albeit with more restraint – after the White House denied Mr McMaster’s dismissal. In fact, the start of the move arguably occurred before rumors about his fate hit the wires. That seems to imply that deeper-seated angst has unnerved investors.

Yesterday’s seemingly unprompted recovery in the US Dollar might explain this to some extent. The greenback tellingly rallied alongside front-end Treasury bond yields, suggesting that worries about an acceleration in the Fed rate hike cycle are emerging in the lead-up to next week’s FOMC meeting.

From here, University of Michigan consumer confidence data headlines a dull offering of European and US event risk. A slight downtick in the main sentiment gauge is expected in March after a sharp surge upward in the prior month. This may pass with little notice however as the Fed dominates attention.

Futures tracking the FTSE 100 and S&P 500 equity benchmarks are pointing lower before London and New York come online, hinting the markets’ dour disposition has scope for follow-through. The McMaster rumor’s market-moving potential ought to warn traders to remain vigilant about headline risk however.

See our free guide to learn how you can use economic news in your FX trading strategy!

ASIA PACIFIC TRADING SESSION

Yen May Extend Gains as Aussie, NZ Dollars Fall in Dour Markets

EUROPEAN TRADING SESSION

Yen May Extend Gains as Aussie, NZ Dollars Fall in Dour Markets

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

FX TRADING RESOURCES

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

To contact Ilya, use the comments section below or @IlyaSpivak on Twitter

To receive Ilya's analysis directly via email, please SIGN UP HERE

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES