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
Oil - US Crude
Mixed
Wall Street
Mixed
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
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • US API Stock Changes: #Crude -7.199M #Cushing -2.550M #Gasoline +0.959M #Distillate +0.992M #Oil $CL_F
  • Bitcoin breached the key psychological level of $30,000 for the first time since January The Jan 22 swing low of $28,800 came in to help cauterize support. Get your market update from @PeterHanksFX here:https://t.co/zmlplL9ZqD https://t.co/6R5nFtVFYS
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.37% Gold: -0.28% Silver: -0.70% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/K9Qw88fR9n
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 87.01%, while traders in France 40 are at opposite extremes with 68.82%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/HWcth7b6kv
  • WH Press Sec. Psaki: - More work remains on infrastructure after meeting - Today or tomorrow, a White House team will meet with Senators from both parties
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: US 500: 0.01% Wall Street: 0.01% Germany 30: -0.11% France 40: -0.19% FTSE 100: -0.27% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/HdfL6Ct6sE
  • McKesson said to explore sale of European, UK businesses -BBG $MCK $EURUSD $GBPUSD
  • EUR/GBP continues to trade towards the bottom of the trading range. Sentiment remains ‘mixed’ after near term decline in long positioning. Get your market updates from @RichardSnowFX here:https://t.co/i7uESnbkBE https://t.co/rdqrIAUnuG
  • @JohnKicklighter At the very least, it’s providing extra entertainment for us market junkies plugged into #Fed Chair Powell’s congressional testimony. Perhaps serving as a coping mechanism for HODL-ers as well. $BTCUSD #Bitcoin
  • U.K.-EU TRUCE LIKELY IN N.IRELAND TRADE DISPUTE, OFFICIALS SAY - BBG
US Dollar May Rise on India, Pakistan Clash and Powell Testimony

US Dollar May Rise on India, Pakistan Clash and Powell Testimony

Ilya Spivak, Head Strategist, APAC

TALKING POINTS – US DOLLAR, PAKISTAN, INDIA, FED, POWELL, YEN

  • Japanese Yen up, Aussie Dollar down as India and Pakistan clash
  • S&P 500 futures send risk-off signal, Fed’s Powell to testify again
  • US Dollar may rise on neutral policy guidance, souring sentiment

Geopolitical worries struck financial markets in the closing hours of an otherwise quiet Asia Pacific trading session amid reports that Pakistan downed two Indian fighter jets and captured a pilot. The anti-risk Japanese Yen soared, the sentiment-linked Australian Dollar fell and S&P 500 futures – a proxy for the prevailing mood around global financial markets – demonstratively plunged.

US DOLLAR MAY REVERSE DROP ON NEUTRAL POWELL COMMENTS

This sudden spasm comes as markets prepare for Day 2 of Congressional testimony from Fed Chair Jerome Powell. Having presented himself before the Senate yesterday, he is now due at the House of Representatives. While the prepared remarks ought to be nearly identical to what investors have already heard, the follow-on Q&A session might generate some market-moving headlines.

Powell offered familiar “wait-and-see” rhetoric yesterday. He cited global uncertainties and favorable domestic conditions – solid growth and anchored inflation expectations – as reasons for patience before taking the next policy step. The US Dollar fell as soundbites from the testimony hit the wires, but underlying policy bets implied in Fed Funds futures were little-changed.

That tarnishes the case for follow-through and might make the move particularly vulnerable to reversal if Mr Powell lets slip something that clashes with the markets’ demonstrably more dovish view. Indeed, a rate cut is already priced in for 2020. That might boost the Greenback, especially if support is reinforced by any haven demand touched off amid the broader risk-off environment.

What are we trading? See the DailyFX team’s top trade ideas for 2019 and find out!

ASIA PACIFIC TRADING SESSION

Asia Pacific Trade Economic Calendar

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