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
EUR/USD
Bullish
Oil - US Crude
Mixed
Wall Street
Bullish
Gold
Mixed
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
Bearish
More View more
Real Time News
  • The price of #oil clears the July high ($42.51) ahead of the #OPEC meeting as US crude output sits at its lowest level since 2018. Get your #commodities update from @DavidJSong here: https://t.co/Djbk1HzZmK https://t.co/Oqirlc3r9T
  • The price of #oil clears the July high ($42.51) ahead of the #OPEC meeting as US crude output sits at its lowest level since 2018. Get your #commodities update from @DavidJSong here: https://t.co/w47LH1XXRX https://t.co/vu5veuWOmi
  • 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/5uSWKoLkd6 https://t.co/O55A015115
  • Last week, $EURUSD rallied to an over two – year high then declined after. Will the price hit a new high in the coming days? Get your #currencies update from @malkudsi here: https://t.co/nfBSZRPSv9 https://t.co/gLbyPxb0ic
  • IG Client Sentiment hints that the Dow Jones and crude oil prices may accelerate higher while USD/CAD resumes its dominant downtrend. What are key technical levels to watch for? Find out from @ddubrovskyFX here: https://t.co/qF1WlKvcxZ https://t.co/uzJ54UP9a2
  • The New Zealand Dollar may extend its surge from yearly lows as it tentatively signals a cyclical upturn. NZD/USD, NZD/JPY rates poised for further gains. Get your market update from @DanielGMoss here: https://t.co/vrOuFkvWpX https://t.co/6Rr8v6nUJ7
  • The British Pound may come under fire as uncertainty about Brexit continues to curb GBP’s enthusiasm ahead of the release of preliminary, Q2 UK GDP data. Get your #currencies update from @ZabelinDimitri here: https://t.co/CDECevj4wd https://t.co/L0Z7188Kd8
  • Copper prices seem to have stalled just shy of key chart resistance as geopolitical tensions weigh on the global-growth proxy. Get your copper market update from @ddubrovskyFX here:https://t.co/qseySE5dWP https://t.co/72MrosQoy5
  • #Gold prices put in a massive breakout in the first four days of this week, with a sizable pullback showing up on Friday. But will that deter Gold bulls? Get your #metals update from @JStanleyFX here: https://t.co/R0ykWq52Lc https://t.co/bYDNaLEvPx
  • Forex trading, which is the act of exchanging fiat currencies, is thought to be centuries old – dating back to the Babylonian period. Learn about the history of Forex here:https://t.co/ePTJlbUP7c https://t.co/fA7G42tGcH
Yen May Fall as US, Japan Strike Deal Avoiding Auto Tariff Hike

Yen May Fall as US, Japan Strike Deal Avoiding Auto Tariff Hike

2018-08-09 06:30:00
Ilya Spivak, Head Strategist, APAC
Share:

TALKING POINTS – YEN, TRADE WAR, AUSSIE DOLLAR, CHINA, NZ DOLLAR, RBNZ

  • Yen may reverse gains as US, Japan strike deal avoiding auto tariffs
  • Aussie Dollar, Chinese stocks up after record-setting US bond sale
  • NZ Dollar down as RBNZ pushes out interest rate hike bets to 2020

The anti-risk Yen also rose as automakers led Japanese stocks lower in Asia Pacific trade, spooked by the prospect of US auto tariffs as negotiators from the two countries meet for talks. While trade war fears have focused on China, a rift between Washington and Tokyo may emerge as another critical flashpoint.

The sit-down may follow a familiar playbook. Auto tariffs are deeply unpopular domestically, making them toxic before midterm elections and leading President Trump to bargain them away in talks with the EU’s Jean-Claude Junker (as expected). Modest concessions from Japan may yield the same result.

On balance, markets are likely to cheer such an outcome. To the extent that this boosts risk appetite, it seems likely to bode ill for the Yen and perhaps also for the similarly-minded Swiss Franc. Meanwhile, the US Dollar may rise on the back of demand for the go-to yield seeking play in the G10 FX space.

Check out our brief history of trade wars to learn how they may impact markets!

AUSSIE DOLLAR BUOYED AFTER RECORD US BOND SALE

The Australian Dollar gained alongside Chinese stock prices. The currency is often traded as a proxy for developments in its home country’s top export market. The CSI 300 equities gauge was led higher by technology names in a move that echoed tech sector strength in the preceding Wall Street session.

In turn, that move followed impressive demand at a record-setting auction of $26 billion in 10-year Treasury notes. A healthy bid-to-cover ratio fueled hopes that the on-coming flood of new issuance to fund the yawning budget deficit may be absorbed without pushing borrowing costs higher too aggressively.

Not surprisingly, technology stocks cheered the prospect of a better funding environment than might have been feared. The sector’s fortunes are anchored to the availability of ample venture capital, which isunderstandably a function of the cost of credit.

NEW ZEALAND DOLLAR SINKS ON DOVISH RBNZ

The New Zealand Dollar underperformed in Asia Pacific trade, sinking after a dovish RBNZ policy announcement. The central bank said it is not planning to raise interest rates until sometime in 2020, clashing with market pricing that envisioned an increase in the fourth quarter of 2019.

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.

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.