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
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
Mixed
Wall Street
Mixed
Gold
Mixed
GBP/USD
Bearish
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
  • This seems likely to reflect the near-certain passing of the US$1.9 trillion stimulus top-up in the US https://t.co/lmIuNpLmV6
  • Risk-on tone seemingly prevailing in early Asia-Pacific trade. US stock index futures up with commodity currencies (AUD, CAD, NZD, NOK), crude oil, gold. Anti-risk USD, JPY and CHF down. https://t.co/nJgxWHCGCa
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out https://t.co/c51s3IBcEu https://t.co/brgbPlNTIl
  • WTI crude oil prices surpassed the 200% Fibonacci extension level of US$ 66.65 after Saudi Arabia said a storage tank in the Ras Tanura export terminal was attached by a drone on Sunday. Brent price breached US$ 70 mark for the first time since January 2020. https://t.co/hB39eHZLVw
  • Crude oil will likely extend its bull run after one of the most protected oil facilities in the world came under attack on Sunday - BBG
  • *Reminder: Weekly Strategy Webinar tomorrow morning at 8:30am EST on DailyFX - https://t.co/lxd5fZnn4H Mid-Week Market Check Up with IG on Wednesday at 9:30am EST - https://t.co/8SFBJxNZrA
  • Entry orders are a valuable tool in forex trading. Traders can strategize to come up with a great trading plan, but if they can’t execute that plan effectively, all their hard work might as well be thrown out. Learn how to place entry orders here: https://t.co/1mnOXUuBpt https://t.co/6BhlgjWVYw
  • We are going to start the new trading week with a few critical technical breaks like the $QQQ's (NDX) H&S neckline break on volume and EURUSD's clearance below 1.1950. Are these the makings of trends? My take: https://www.dailyfx.com/forex/video/daily_news_report/2021/03/06/EURUSD-and-Nasdaq-100-to-Start-Week-with-Multi-Month-Breakdown.html https://t.co/iR5w7iDkDU
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here: https://t.co/8A1QhwMVKo https://t.co/OR70NHkgeI
  • What are some factors driving AUD? Get your free forecast for this quarter here:https://t.co/z85CIVYiuK #DailyFXGuides https://t.co/nd93gXDswq
Brexit Votes May Distract From Global Slowdown Worries

Brexit Votes May Distract From Global Slowdown Worries

Ilya Spivak, Head Strategist, APAC

TALKING POINTS – YEN, US DOLLAR, NEW ZEALAND DOLLAR, BREXIT

  • Yen, US Dollar rise as dovish RBNZ stokes global growth fears
  • ECB’s Draghi may amplify worries with downbeat commentary
  • Brexit votes may delay conviction on sentiment-driven volatility

The anti-risk Japanese Yen and US Dollar rose after the RBNZ became the latest in a series of major central banks to warn about a darkening outlook for global economic growth. The New Zealand Dollar was understandably hurt by dovish commentary from its local monetary authority, but the sentiment-linked Australian Dollar also weakened, likely reflecting broader risk-off flows.

Looking ahead, scheduled commentary from ECB President Mario Draghi may add to slowdown worries. A downbeat disposition was already on display at this month’s policy announcement, so more of the same would not be a stretch. Capacity for follow-through will probably be determined by the degree to which Mr Draghi’s remarks dial up the sense of urgency.

With that in mind, directional conviction on any broad sentiment-directed will probably have to wait for the outcome of a series of “indicative votes” on the future path for Brexit. MPs are attempting to wrestle control of the process from Prime Minister Theresa May and will voice their preference for a variety of competing options for EU withdrawal terms and perhaps even consider a second referendum.

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

CHART OF THE DAY – DOVISH RBNZ SPARKS DEMAND FOR ANTI-RISK CURRENCIES

Brexit Votes May Distract From Global Slowdown Worries

The chart above tracks the intraday reaction to the dovish RBNZ monetary policy announcement. The sharp drop in the Kiwi Dollar play out inversely of a rise in the average value of the US Dollar and Yen against their major currency counterparts. Tellingly, the averages do not include the NZD, implying that these moves reflected broader haven-seeking capital flows.

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