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
Bullish
Oil - US Crude
Bullish
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
Mixed
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • ECB's Lagarde - Tells EU Leaders Euro Zone economy recovering to return to pre-pandemic levels in Q1 2022
  • 🇲🇽 Economic Activity YoY (APR) Actual: 22.33% Expected: 21.7% Previous: 0.8% https://www.dailyfx.com/economic-calendar#2021-06-25
  • 🇲🇽 Economic Activity YoY (APR) Actual: 22.3% Expected: 21.7% Previous: 0.8% https://www.dailyfx.com/economic-calendar#2021-06-25
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 89.81%, while traders in GBP/JPY are at opposite extremes with 70.72%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/AcZYvlrDPz
  • Heads Up:🇬🇧 BoE Quarterly Bulletin due at 11:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-06-25
  • Heads Up:🇲🇽 Economic Activity YoY (APR) due at 11:00 GMT (15min) Expected: 21.7% Previous: 0.8% https://www.dailyfx.com/economic-calendar#2021-06-25
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here: https://t.co/CNtqrKWDBY https://t.co/ej8BfvKvhP
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Silver: 0.88% Gold: 0.36% Oil - US Crude: -0.43% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/ZMIZgYhtKC
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.11% 🇯🇵JPY: 0.11% 🇨🇦CAD: 0.10% 🇪🇺EUR: 0.07% 🇦🇺AUD: 0.07% 🇬🇧GBP: -0.16% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/0kNdpPogmw
  • 🇫🇷 Unemployment Benefit Claims (MAY) Actual: -133.7K Previous: 65.9K https://www.dailyfx.com/economic-calendar#2021-06-25
Yen May Fall Further in Risk-On Trade But Follow-Through Suspect

Yen May Fall Further in Risk-On Trade But Follow-Through Suspect

Ilya Spivak, Head Strategist, APAC

TALKING POINTS – YEN, CANADIAN DOLLAR, FED, STOCKS

  • Japanese Yen may continue to retreat as markets’ risk appetite recovers
  • Canadian Dollar higher as crude oil prices rebound with stock futures
  • Sentiment rebound likely corrective, may not find lasting follow-through

The anti-risk Japanese Yen traded broadly lower in otherwise inconclusive Asia Pacific trade, reflecting a rebound on regional bourses after yesterday’s bloodletting. The Canadian Dollar edged higher, echoing a tepid recovery in crude oil prices amid the broadly risk-on mood. The rest of the G10 FX space showed little conviction, with prices oscillating near levels set at the close of the North American session.

YEN MAY FALL FURTHER BUT FOLLOW-THROUGH SUSPECT

Looking ahead, a quiet offering on the European economic calendar seems likely to keep sentiment trends in the spotlight. FTSE 100 and S&P 500 stock index futures are tracking sharply higher before the opening bell rings in London and New York, hinting that the recovery in sentiment has scope to continue. An expected uptick in the University of Michigan gauge of US consumer confidence may help.

Importantly, none of the issues that led the past 48 hours of breakneck volatility have been resolved or even addressed from a policy perspective. Markets continue to price in a better-than-even chance of a December Fed rate hike and envision at least two further increases in 2019 (although the likelihood of a third one has been marked down a bit). That leaves the apparent impetus for the selloff essentially intact.

With that in mind, any on-coming risk recovery might mean little more than a correction. Indeed, traders are probably keen to unwind any shorter-term risk-off exposure, preferring to avoid any pronounced skew in portfolios ahead of the weekend lull. To that end, follow-through on today’s price action is probably too much to reasonably ask for.

See our forecasts for currencies, commodities and equities to learn what will drive prices in Q4!

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