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.

Free Trading Guides
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
GBP/USD
Bearish
USD/JPY
Bullish
Gold
Bullish
Oil - US Crude
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
Bitcoin
Mixed
More View more
Real Time News
  • What are the truths and myths of #forex trading? Find out from @DailyFX analysts here: https://t.co/uF75VPzstr #FOMOintrading https://t.co/bDXG2dV3wG
  • The US Dollar technical outlook against the Euro, British Pound, Australian Dollar and New Zealand Dollar are discussed. Large wicks left signs of indecision, will reversals follow? $EURUSD $GBPUSD $AUDUSD $NZDUSD - https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2019/12/15/US-Dollar-Technical-Outlook-EURUSD-GBPUSD-AUDUSD-NZDUSD.html?CHID=9&QPID=917702 https://t.co/dpuIppxo3F
  • What are some trading mistakes @nickcawley1 made during his career and what did he learn from them? Find out: https://t.co/y3cckNW22W https://t.co/vUQyVl6b0e
  • Growth linked currencies have gained as investors hope for progress on the trade front as well as stimulus from the Fed. The global economy however remains depressed and seems likely to remain so. Get your market update from @DavidCottleFX here: https://t.co/jt1HH9AHLM https://t.co/Yz65AMJYlm
  • RT @YuanTalks: #China temporarily suspend additional tariffs of either 10% or 5% on some #US goods scheduled to take effect on Dec 15, said…
  • The gold-silver ratio is simple. It is the number of silver ounces you would need to trade to receive one ounce of #gold at current market prices. Find out how you can use this in your trading strategy here:https://t.co/kh5DZvv5ib $XAUUSD https://t.co/eJGODpfTNc
  • How can traders avoid #FOMO in trading? Start by implementing a well-heeled plan taking only four hours per week. Get your insight from @JStanleyFX here: https://t.co/vwUShQPc27 https://t.co/DoVBd1l1oO
  • #Silver is a precious metal commodity that investors use as an inflation hedge and safe-haven asset. Find out what are some strategies and tips to trade silver here: https://t.co/k4tVcFuwxW #CommoditieswithDailyFX https://t.co/zXCSmH2HLX
  • Markets are trying to maintain a bullish tilt as a new week rolls around, a look ahead at the charts of the #Dow, #DAX, and #FTSE. Get your technical analysis on major world indices from @PaulRobinsonFX here: https://t.co/bYjRDvQsdM https://t.co/mbg0rUbv3K
  • Trade conflict is clearly awful for the broad world economy, but some countries are already benefiting from it. More stand to do so. Spotting them early could be profitable. Get your update on the #tradewar from @DavidCottleFX here: https://t.co/og0VAPAqwm https://t.co/xB8hYUj4OA
Euro Up as Italy Fears Fade, Canadian Dollar Falls with Crude Oil

Euro Up as Italy Fears Fade, Canadian Dollar Falls with Crude Oil

2018-05-28 06:30:00
Ilya Spivak, Sr. Currency Strategist
Share:

TALKING POINTS – ITALY, EURO, SWISS FRANC, CANADIAN DOLLAR, CRUDE OIL

The Euro traded sharply higher to start the week after Italian President Sergio Mattarella vetoed the nomination of eurosceptic economist Paolo Savona for post of Economy Minister in the fledging coalition government of the far-right League and anti-establishment Five Star Movement.Prime Minister-designate Giuseppe Conte swiftly abandoned administration-building efforts, which may open the door for a technocrat caretaker cabinet to take the reins until a new election is held in autumn.

The news signaled that the ascendancy of an anti-Euro government in the currency bloc’s third-largest economy will not go unchallenged, with a simmering crisis now potentially defused (at least in the immediate term). The Swiss Franc duly fell, unwinding some of gains scored on the back of Euro area turmoil in recent weeks. Broader risk sentiment also brightened, sending the Australian and New Zealand Dollars upward while the Yen and the US Dollar lost ground.

The Canadian Dollar suffered as crude oil prices continued to plunge following Friday’s brutal selloff. Oil is one of Canada’s top exports, which frequently leads investors to interpret large moves in the commodity’s price as having knock-on effects on the country’s growth prospects. That is extended to shaping expectations for inflation and thus monetary policy, which understandably impacts the currency. Follow-through may be lacking however traders wait for the looming BOC rate decision to commit to a direction.

Looking ahead, a barebones offering of scheduled event risk leaves established momentum without obvious roadblocks to continuation. Still, the political landscape in Italy remains fluid and may yet bring negative news-flow that sours investors’ disposition. Tensions in Spain may also sting after the opposition Socialists called for a vote of no confidence in embattled Prime Minister Mariano Rajoy. Finally, a US market closure has drained overall liquidity, which might diminish wherewithal for follow-though.

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

ASIA PACIFIC TRADING SESSION

Asia pacific trading session economic calendar

EUROPEAN TRADING SESSION

European trading session economic calendar

** 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

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

DISCLOSURES

News & Analysis at your fingertips.