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
GBP/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
USD/JPY
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
More View more
Real Time News
  • Top event risk for more than just the Dow and Dollar this week is the Wednesday #FOMC rate decision. What the markets expect sets the tone for how the event impacts price action. My run down of the week and Fed decision: https://www.dailyfx.com/forex/video/daily_news_report/2021/06/12/Dollar-and-SP-500-Breaks-Must-Abide-the-FOMC-Decision-This-Week.html https://t.co/Huvth4f706
  • What suits your style of trading stocks or commodities? Find out what are the differences in these two markets here: https://t.co/BnA07cMV0s https://t.co/AkE7bFRWAt
  • $GBPUSD continues to trade in ranges as volatility dwindles. UK data to play second fiddle to FOMC. Get your market update from @JMcQueenFX here: https://t.co/T0Eg4KaENB https://t.co/GMmZa5L0Il
  • Get your snapshot update of the of market open and closing times for each major trading hub around the globe here: https://t.co/BgZLFljIhZ https://t.co/wlGgQrcK3X
  • What's the difference between leading and lagging indicators? Find out from here: https://t.co/vGx8HCagF5 https://t.co/qnQ8Cx0DKv
  • Dealing with the fear of missing out – or FOMO – is a highly valuable skill for traders. Not only can FOMO have a negative emotional impact, it can cloud judgment and overshadow logic. Learn how you can control FOMO in your trading here: https://t.co/lgDf5cVYOn https://t.co/RJLpBgS43V
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here: https://t.co/4jsORznRTE https://t.co/6GrWzkOouM
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfJhp91 https://t.co/lIUxpfSem3
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here: https://t.co/rfwUWJfbz9 https://t.co/8kBulRFd6l
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here: https://t.co/ZNs4Qi8ieG https://t.co/6u52PuzIaY
US Dollar May Join Yen on the Offensive as Market Mood Sours

US Dollar May Join Yen on the Offensive as Market Mood Sours

Ilya Spivak, Head Strategist, APAC

TALKING POINTS – YEN, US DOLLAR, STOCKS, FOMC, AUSSIE DOLLAR, POUND, BREXIT

  • Aussie Dollar upswing following September jobs data unlikely to last
  • Japanese Yen aims higher as S&P 500 futures point to risk aversion
  • US Dollar may rise as “Powell put” hopes fade after FOMC minutes

The Australian Dollar narrowly outperformed in Asia Pacific trade after September’s labor-market data showed the unemployment rate unexpectedly fell to 5 percent, the lowest since April 2012. The currency rose alongside local bond yields, suggesting markets interpreted the outcome as supportive for RBA interest rate hike prospects.

That seems unlikely. Participation dropped to a one-year low of 65.4 percent in September, suggesting that the lower jobless rate reflected an exodus from the labor force rather than a pickup in hiring. That seems hardly supportive and probably doesn’t speak to upward pressure on inflation that would be associated with tightening employment conditions. With that in mind, the Aussie’s uptick might prove to be fleeting.

The anti-risk Japanese Yen likewise rose as regional stocks followed Wall Street downward. The British Pound suffered amid worries that another Brexit deal pitch by UK Prime Minister Theresa May, this time at the EU leaders’ summit, has fizzledfruitlessly. Sideline reports hinted that she spoke only briefly and offered no substantively new proposals. The Canadian Dollar fell with crude oil prices.

YEN AIMS TO EXTEND GAINS, US DOLLAR MAY FOLLOW SUIT

Looking ahead, bellwether S&P 500 futures are pointing sharply lower, hinting that the risk-off mood is likely to prevail in the hours ahead. That seems likely to keep the Yen on offense. The US Dollar may also rise after minutes from September’s FOMC meeting poured cold water on hopes for a so-called “Powell put”, which seemed to derail its ability to capitalize on last week’s market rout.

While US central bank officials worried aloud about potential risks linked to leveraged loans and to a stronger currency, they nonetheless unanimously concluded that gradual policy tightening remains the best course of action. Some policymakers even suggested that rates may need to rise above their “long-run” level, implying that financial conditions may become more restrictive than markets have anticipated.

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