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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
Real Time News
  • #Bitcoin Outlook: $BTCUSD Bounce From 40K, Fake-out or Shake-out? -
  • While JPY gets clobbered, CHF decides to turn a blind eye to yields $CHF
  • The surprise 100 basis point cut from the Turkish central bank (to 18%) generated the expected pressure for $USDTRY. That said, I don't think it was the market that decided the momentum should die out at 8.8000 again...
  • surprised that $NQ is holding up so well with what rates are doing. 10 year yield at a 2 month high, $Nasdaq still holding resistance at prior support
  • The S&P 500 has recovered all the ground it lost at the start of the week and the Dollar has slumped post FOMC and PMIs. DailyFX's @JohnKicklighter gives a brief overview of the market for Thursday!
  • The future taper isn't enough to urge the Dollar to a critical bullish break. In turn, $EURUSD has reversed shy of of August's trough and keeps in play an inverse head-and-shoulders pattern with a neckline at 1.19
  • USD/CAD testing short-term moving average support. Traders have cut their long exposure over the week. Get your market update from @nickcawley1 here:
  • In the West, that qualifies as a default action. Let's see how it is treated in the world's second largest economy
  • Some Evergrande offshore bondholders do not expect company to make interest payment by Thursday deadline
US Dollar Finds a Floor, Asia Markets Stall Despite Record Wall Street High. The Quiet Before Storm?

US Dollar Finds a Floor, Asia Markets Stall Despite Record Wall Street High. The Quiet Before Storm?

Daniel McCarthy,

US Dollar, AUD/JPY, Iron Ore, SEC, China, Jackson Hole - Talking Points

  • USD found some footing in Asia today to consolidate recent gains.
  • APAC equities mostly flat, positive Wall Street offset by China concerns
  • Aluminium and iron ore rally despite broader commodity weakness.

The US Dollar moved slightly higher in Asia today as markets are generally keeping their powder dry ahead of the Jackson Hole symposium, where Fed Chair Powell will have all the focus. The FDA approved Pfizer’s Covid-19 vaccine, adding to a positive outlook.

However, another Wall Street record high failed to inspire Asian equity markets. More concerns are being raised by the SEC regarding transparency and disclosure from Chinese companies that are listed in the US. Chinese authorities also flagged domestic tech companies for further scrutiny.

Commodity markets were mixed in Asia today. Aluminium eyed off 3-year highs on concerns of supply disruptions. Iron ore recovered some ground after China re-opened the world’s third largest port with Delta variant scares abating. The rising iron ore price didn’t help the Australian Dollar as the USD firmed across the board. Gold dipped below US$1800 and other precious metals were hit. Crude oil prices moved sideways after extending higher in the US session.

Treasury yields moved slightly higher into Asia and this helped underpin the USD but the disparity between yields and equities is becoming more significant. Jackson Hole may provide the catalyst for a snap back. The question for markets now is, which asset benchmark will prove to be right?

US Dollar Finds a Floor, Asia Markets Stall Despite Record Wall Street High. The Quiet Before Storm?

AUD/JPY Technical Analysis

The AUD/JPY cross rate is often seen as a harbinger for market risk sentiment. The currency pair is currently trending lower within a channel chart formation, having made new lows for the year last week. Pivotal support-turned-resistance is close by at 79.85 and further resistance lies at the previous swing high of 81.60. The 20 August spike low at 77.90 marks initial support.

US Dollar Finds a Floor, Asia Markets Stall Despite Record Wall Street High. The Quiet Before Storm?

Chart Created in TradingView

--- Written by Daniel McCarthy, Strategist for

To contact Daniel, use the comments section below or @DanMcCathyFX on Twitter

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