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
Bullish
GBP/USD
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
USD/JPY
Bullish
Gold
Mixed
Oil - US Crude
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
Bitcoin
Bearish
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.96%, while traders in France 40 are at opposite extremes with 75.32%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/xjI8nYENS0
  • $USDMXN's aggressive intraday reversal from highs has left a very large upper wick on the daily chart. Biggest bullish tail since Sep 5, 2018 https://t.co/xgKxc9FC68
  • $GBPUSD churns steadily lower as the Pound Sterling succumbs to broader US Dollar strength, but the cable could soon find technical support. Get your GBP/USD market update from @RichDvorakFX here: https://t.co/3nkJfWLXXV https://t.co/H8x3p1S413
  • Indices Update: As of 19:00, these are your best and worst performers based on the London trading schedule: Germany 30: -0.28% France 40: -0.28% Wall Street: -0.91% US 500: -1.16% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/tXRNBSAR3O
  • Fed's Bostic: - No structural changes from coronavirus expected - Not concerned over financial markets having a different outlook on rates $DXY
  • A perusal of top market headlines includes stories equivalent to Dow holds near record highs as outlook for growth and return prevails right next to a 30-year Treasury bond hits record high as market seeks safety. Hmmm... https://t.co/Fe1j9IRx8S
  • German Chancellor Merkel: - A lot of work until a budget deal is reached in the EU - Not sure when EU members will meet again $EURUSD
  • Markets: Challenge accepted https://t.co/pTMKvvCtPi
  • Fed's Clarida: - Expectations are near low end for price stability - BBG
  • Fed's Mester: - Policy should not yield to market if view is not in alignment - BBG
US Dollar, S&P 500 Brace for Powell Comments as Easing Bets Spike

US Dollar, S&P 500 Brace for Powell Comments as Easing Bets Spike

2019-10-08 06:30:00
Dimitri Zabelin, Junior Currency Analyst
Share:

Eurozone Economy, US Dollar, Euro Outlook

  • Traders will be closely watching Powell for key comments
  • Equity markets cross fingers that Fed shifts more dovish
  • US-China trade relations remain headline risk for the week

Learn how to use political-risk analysis in your trading strategy!

The US Dollar and local equity markets will be closely listening to Fed Chairman Jerome Powell as he speaks at the NABE conference in Denver. Traders will be scrutinizing his commentary after last week’s dismal data dump and worsening US-China trade war relations. The economic conflict continues to be a major headwind to businesses and has negatively impacted consumer and companies sentiment.

Early into Asia’s Tuesday trading session, Washington blacklisted eight Chinese companies on the basis of violating human rights violations. This comes shortly after sources had said Chinese Vice Premier Lie He’s visit to Washington from October 10 to 11 will not include discussions on intellectual property rights. Considering this is a major issue on the trade agenda, this may be setting up the talks for a standstill or worse.

US President Donald Trump reiterated that a half-baked deal is “not one we prefer at all”. Volatility in financial markets may be relatively muted until updates are given on the state of US-China trade talks. This is because of the sheer magnitude a truce or deterioration could have on global growth prospects and monetary policy from central banks all over the world.

Market Analysis of the Day: Global Growth Prospects Present Gloomy Outlook

Chart showing Manufacturing PMI Data

FX TRADING RESOURCES

--- Written by Dimitri Zabelin, Jr Currency Analyst for DailyFX.com

To contact Dimitri, use the comments section below or @ZabelinDimitrion Twitter

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

DISCLOSURES

News & Analysis at your fingertips.