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
EUR/USD
Bullish
Oil - US Crude
Mixed
Wall Street
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
Gold
Bullish
GBP/USD
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • US Equity Update (Wednesday Close): $DJI +1.20% $SPX +0.82% $NDX +0.84% $RUT +0.20% $VIX -0.42%
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.15% US 500: -0.19% FTSE 100: -0.22% Germany 30: -0.37% France 40: -0.46% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/ER57B8vlcm
  • Following last night's debate, the Commission on Presidential Debates (CPD) announced today that they: "will be carefully considering the changes that it will adopt and will announce those measures shortly". #PresidentialDebate2020
  • USD strength has shown in September but that’s been a change-of-pace to the bigger-picture trend of weakness. Which will take over in Q4? Get your $USD market update from @JStanleyFX here:https://t.co/BAFre6au9x https://t.co/SL8kg2GlH0
  • Pelosi says stimulus talks with Mnuchin will continue - BBG
  • Update on #Cryptocurrencies #BITCOIN -0.55% #BITCOINCASH -0.35% #ETHEREUM -0.68% #RIPPLE -0.46% #LITECOIN +1.08%
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.28% Gold: -0.31% Silver: -3.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/E9jn9lVQkj
  • US Dollar: Ready to Rumble with High-Impact Data - EURUSD, AUDUSD https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2020/09/30/US-Dollar-USD-Ready-to-Rumble-High-Impact-Data-EUR-USD-AUD-USD.html https://t.co/4NyN3ROIwJ
  • Senator McConnell signals that a deal is still far off on stimulus $SPX $DJI $DXY
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.18%, while traders in Wall Street are at opposite extremes with 69.58%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/cF2BM1c9q9
Yen May Fall More on NAFTA Deal as Franc Gains on EU, UK Politics

Yen May Fall More on NAFTA Deal as Franc Gains on EU, UK Politics

2018-10-01 06:30:00
Ilya Spivak, Head Strategist, APAC
Share:

TALKING POINTS – NAFTA, USMCA, CANADIAN DOLLAR, YEN, EURO, POUND, BREXIT, ITALY

The Canadian Dollar gapped higher at the start of the trading week as expected amid hopes for a breakthrough in NAFTA renegotiation efforts and continued to build higher once confirmation of an accord crossed the wires. The new framework – dubbed the “US-Mexico-Canada Agreement” or USMCA – ends over a year of haggling and, according to an official statement, establishes a “playbook for future trade deals”.

Financial markets understandably cheered the apparent end of hostilities on at least one of the fronts in the US-led global trade war. Asia Pacific stock exchanges swung higher while the perennially anti-risk Japanese Yen traded broadly lower against its G10 FX counterparts. S&P 500 futures are pointing decidedly higher before Wall Street comes online, hinting at more of the same ahead.

Interestingly, the typically pro-risk Australian and New Zealand Dollars failed to capitalize on the rosy turn in investors’ mood while the US Dollar – recently a standby beneficiary of haven demand and by extension a victim of firming risk appetite – edged upward. This might reflect the expected return to focus on Fed rate hike prospects in the aftermath of last week’s FOMC rate decision.

FRANC AIMS HIGHER AS POLITICS SOUR EUROPEAN MARKETS’ MOOD

Eurozone and UK PMI surveys headline the data docket in European trading hours but the outcomes seem unlikely to mean much for the Euro and British Pound considering their limited implications for near-term ECB and BOE policy. Politics are likely in focus for both as Italy’s budget threatens a rift with EU authorities while Brexit-linked divisions are laid bare at the annual UK Conservative Party conference.

The two sides of the debate have nominally centered on Prime Minister Theresa May and former Foreign Secretary Boris Johnson as the leaders factions favoring a softer versus harder line on separation from the EU, respectively. Mr Johnson’s camp is believed to be laboring behind the scenes to oust Ms May. Sterling may decline if those efforts appear to be bearing fruit or rise in the alternative scenario.

The Swiss Franc has emerged as something of a regional haven against this backdrop, trading broadly higher against nearly all of the majors except the CAD and USD at the start of the trading week.It may continue to gain ground as another day of worrying political headlines undermine European assets’ ability to capitalize on the otherwise upbeat market mood.

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