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
Subscribe
Please try again
EUR/USD
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
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
Wall Street
Bearish
Gold
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
GBP/USD
Bearish
USD/JPY
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
More View more
Notice

BoE Chief Econimist (Hawk) is to Step Down From BoE After June Meeting

Real Time News
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Silver: 2.28% Oil - US Crude: 0.88% Gold: 0.80% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/IGiOgYkbD6
  • White House: J&J vaccine pause will not have a significant impact on US vaccination plans.
  • $EURUSD at session highs having broken through last week's peak - Resistance ahead 1.1950 and 1.1990 https://t.co/GZt61d8bez
  • Indices Update: As of 13:00, these are your best and worst performers based on the London trading schedule: France 40: 0.11% Germany 30: 0.09% US 500: -0.04% FTSE 100: -0.20% Wall Street: -0.28% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/LWPqo8wqu6
  • J&J to proactively delay rollout of vaccine in Europe. $EUR
  • BoE Chief Economist Andrew Haldane To Step Down From The MPC After The June Meeting $GBP
  • #Bitcoin rose to a fresh all time high this morning around the 63,000 level, breaking above the previous high set around 62,000 in mid March. $BTC https://t.co/sj1fjZb1iw
  • US 10yr Treasury yields and the US Dollar have both headed lower in the immediate aftermath of the CPI print. The $DXY dropped from 92.26 to around the 92.10 level and 10yr yields stepped back from above 1.68% to 1.66%. $USD https://t.co/RFiMWfNckX
  • 🇺🇸 Core Inflation Rate MoM (MAR) Actual: 0.3% Expected: 0.2% Previous: 0.1% https://www.dailyfx.com/economic-calendar#2021-04-13
  • 🇺🇸 Inflation Rate MoM (MAR) Actual: 0.6% Expected: 0.5% Previous: 0.4% https://www.dailyfx.com/economic-calendar#2021-04-13
Yen and US Dollar May Rise on CBO Outlook Cut, Draghi Comments

Yen and US Dollar May Rise on CBO Outlook Cut, Draghi Comments

Ilya Spivak, Head Strategist, APAC

TALKING POINTS – YEN, TRADE WARS, ECB, DRAGHI, CBO, POUND, CARNEY, BREXIT

  • Yen may recover further after Friday slump as risk appetite cools
  • CBO outlook downgrade, worried Draghi tone may spook markets
  • British Pound may rise as BOE officials warn on no-deal Brexit

Currency markets offered mixed cues at the start of the trading week. The sentiment-geared Australian and New Zealand Dollars traded higher amid hopes for a breakthrough in US-China trade talks. The anti-risk Japanese Yen advanced all the same, retracing some of Friday’s steep decline. That took looks to have reflected trade war de-escalation prospects.

Bellwether S&P 500 futures now point convincingly lower, suggesting a defensive tone. That may be amplified an annual economic outlook update form the US Congressional Budget Office (CBO) brings a significant downgrade of growth projections while ECB President Mario Draghi echoes worried tone on display after last week’s policy announcement when he speaks in the European Parliament.

The Yen may continue higher against this backdrop while commodity-bloc currencies lose a degree of upward momentum. The US Dollar may likewise trade higher. The benchmark unit has proved to be remarkably resilient amid the market meltdown late last year but suffered losses as sentiment steadied after the calendar turned to 2019. That suggests its role as liquidity haven is at the forefront, at least for now.

BRITISH POUND MAY GET BOOST FROM BANK OF ENGLAND COMMENTS

The British Pound corrected higher, backtracking against all its major counterparts after Friday’s impressive surge. That move precedes a Parliament vote on a tweaked version of the Brexit withdrawal deal supported by UK Prime Minister Theresa May. As with the first outing, the markets may be hoping that the measure’s likely defeat may delay or even cancel UK/EU divorce proceedings.

This narrative may be reinforced by incoming comments from Bank of England officials, including Governor Mark Carney. They are due to speak at the closing of the central bank’s Future Forum and may opine on the destabilizing effects of a “no-deal” Brexit outcome. Fire-and-brimstone rhetoric might be seen as encouraging Parliamentary efforts at watering down the split, capping Sterling’s losses.

See our market forecasts to learn what will drive currencies, commodities and stocks in Q1!

ASIA PACIFIC TRADING SESSION

Yen and US Dollar May Rise on CBO Outlook Cut, Draghi Comments

EUROPEAN TRADING SESSION

Europe Trade 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