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
Wall Street
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
Real Time News
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here: https://t.co/kODPAfJE79 https://t.co/IRS9MaA7h8
  • The Federal Reserve rate decision is likely to sway the near-term outlook for the price of gold as the central bank appears to be on track to scale back monetary support. Get your weekly gold forecast from @DavidJSong here: https://www.dailyfx.com/forex/fundamental/forecast/weekly/CHF/2021/09/18/Gold-Price-Outlook-Hinges-on-Fed-Rate-Decision-Forward-Guidance.html https://t.co/dWWxtErjK0
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here: https://t.co/arxYmtQeUn https://t.co/4qxwiJsV1K
  • 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/stMPuq0VXR
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/v6RGICQvge
  • Get your snapshot update of the of top level exchanges and key index performance from around the globe here: https://t.co/d8Re5anlG5 https://t.co/rws9LHJV3E
  • RT @FxWestwater: Japanese Yen Forecast: JPY Crosses Eye BoJ, CPI as Haven Flows Bolster Yen Strength Link: https://www.dailyfx.com/forex/fundamental/forecast/weekly/jpy/2021/09/18/Japanese-Yen-Forecast-JPY-Crosses-Eye-BoJ-CPI-as-Haven-Flows-Bolster-Yen-Strength.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr https:/…
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/9S5tXIs3SX https://t.co/FVisZuTP6M
  • Stocks appear to be in a corrective phase but could get put to the test; levels and lines to watch in the days ahead. Get your weekly equities forecast from @PaulRobinsonFX here: https://t.co/H1BaTlIHjY https://t.co/zP3mjfslSD
  • 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/Of1thU4zXw
Yen Falls on US-China Trade Talks, Pound Up on Brexit Deal Hopes

Yen Falls on US-China Trade Talks, Pound Up on Brexit Deal Hopes

Ilya Spivak, Head Strategist, APAC

TALKING POINTS – YEN, US-CHINA TRADE TALKS, POUND, BREXIT, TRUMP

  • Yen down, commodity currencies rise on US-China trade deal optimism
  • Pound outperforms vs G10 FX peers amid hopes for Brexit breakthrough
  • European, US stock index futures suggest risk-on bias may be sustained

A rosy mood across Asia Pacific financial markets at the start of the trading week lifted the sentiment-linked Australian, Canadian and New Zealand Dollars alongside regional bourses. The anti-risk Japanese Yen succumbed to selling pressure in the meanwhile, losing ground against all its G10 FX peers.

Hopes for an imminent advance in US-China trade talks appeared to be the main catalyst. Various reports making the rounds across the wires suggested Washington could lift most or even all recently imposed tariffs if Beijing delivers on pledges to defend intellectual property rights and buy more US products.

US President Donald Trump may have been marginally helpful too. He used a speech at the Conservative Political Action Conference (CPAC) to talk down the US Dollar, saying it is “too strong”. Markets may have read this as indirect pressure against further Fed interest rate hikes.

BRITISH POUND UP ON BREXIT DEAL OPTIMISM

Signs of a Brexit breakthrough probably didn’t hurt either. Indeed, the British Pound outperformed amid reports that pro-Brexit members of the Conservative Party have outlined the conditions for supporting the EU withdrawal deal proposed by Prime Minister Theresa May.

Senior Tory MP Graham Brady said a deal on the thorny issue of the “Irish backstop” – the major sticking point so far – is in sight. This is a provision that would prevent the establishment of a hard border between Northern Ireland (a part of the UK) and the Republic of Ireland (an EU member state).

STOCK INDEX FUTURES HINT AT RISK-ON MOOD AHEAD

Looking ahead, a relatively muted offering on the economic data docket may keep sentiment trends in the spotlight. Bellwether European and US stock index futures are pointing convincingly higher, suggesting that the risk-on dynamics witnessed in APAC hours have scope for follow-through in the near term.

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