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
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
GBP/USD
Mixed
USD/JPY
Bullish
Gold
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
Oil - US Crude
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
Bitcoin
Bearish
More View more
Notice

DailyFX PLUS Content Now Available Freely to all DailyFX Users

Real Time News
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: US 500: -0.33% Wall Street: -0.49% Germany 30: -0.76% France 40: -0.82% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/MC6Ki0rn7u
  • https://t.co/ZsBa0R16cT
  • The opening gap higher for US crude oil was the biggest jump from close of one session to open of the next since Jan 15, 2009: https://t.co/inwVIkMoFX
  • #Gold is likely to re-test recent highs between $1,515/oz. and $1,528/oz ahead of the Fed but is unlikely to break higher until Fed chair Powell has spoken. Where is $gld heading? Get your technical analysis from @nickcawley1 here: https://t.co/dzVNKutycP https://t.co/DAb1lJIgnp
  • How often do you experience #FOMOintrading? (Be honest) Not sure if you have #FOMO? Find out here with @PaulRobinsonFX : https://t.co/ymglOV8vvC
  • US 30-Year Treasury Yield is down this morning to 2.35%
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 9.82% Silver: 2.20% Gold: 0.67% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/szFjFVTfIF
  • 🇺🇸 USD NAHB Housing Market Index (SEP), Actual: N/A Expected: 66 Previous: 66 https://www.dailyfx.com/economic-calendar#2019-09-17
  • US Dollar Price Outlook: EUR/USD, GBP/USD, USD/CAD, USD/CHF https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2019/09/16/us-dollar-price-outlook-eur-usd-gbp-usd-usd-cad-usd-chf-js52-usd-chart.html https://t.co/dM4YKDP9qd
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.95%, while traders in France 40 are at opposite extremes with 81.39%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/SlJfOQwCAI
Yen and Franc Aim Higher as US, China Trade Détente Hopes Fade

Yen and Franc Aim Higher as US, China Trade Détente Hopes Fade

2018-12-06 07:30:00
Ilya Spivak, Sr. Currency Strategist
Share:

TALKING POINTS – YEN, FRANC, AUSSIE DOLLAR, CHINA, TRADE WAR, HUAWEI, BREXIT

  • Yen soar as US/China trade détente hopes fade on Huawei CFO arrest
  • Stock futures hint risk aversion aims to continue in European, US trade
  • British Pound volatility elevated as PM May struggles with Brexit deal

The anti-risk Japanese Yen and Swiss Franc rose while the sentiment-geared Australian, Canadian and New Zealand Dollars plunged as risk appetite evaporated in Asia Pacific trade. The move follows news that Huawei CFO Wanzhou Meng was arrested in Canada on allegations of violating US sanctions on Iran. This seemed to amplify disappointment with the apparent absence of progress on trade war de-escalation at a meeting between US and Chinese presidents Trump and Xi at the weekend’s G20 summit.

More of the same looks likely ahead. A lackluster offering of lower-tier releases on the European and US economic calendars seems likely to keep sentiment trends at the forefront. Bellwether S&P 500 futures are down over a full percentage point before Wall Street comes online, hinting that the risk-off trading patterns on display in APAC trade have scope for follow-through.

BRITISH POUND VOLATILITY LIKELY AMID BREXIT DEAL SCRAMBLE

Meanwhile, UK Prime Minister Theresa May continues to struggle to build support for her Brexit deal proposal ahead of a decisive vote in Parliament next week. The Times said members of the Ms May’s cabinet are trying to talk her into postponing the vote while the Telegraph claimed that EU officials are considering a delay in triggering Article 50 of the Lisbon Treaty pulling the UK from the regional bloc.

On balance, this makes for an unusually elevated British Pound volatility risk. In fact, one-week implied Sterling volatility expressed in FX options jumped to the highest level since June 2017 yesterday and stands at the highest among the major currencies. Headlines making a no-deal Brexit appear more likely are likely to weigh on the UK unit while anything that lowers the chance of or delays such an outcome may boost it.

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

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

DISCLOSURES

News & Analysis at your fingertips.