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
Mixed
Oil - US Crude
Bearish
Wall Street
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
Gold
Mixed
GBP/USD
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • 🇳🇱 Inflation Rate YoY (APR) Actual: 1.9% Expected: 1.7% Previous: 1.9% https://www.dailyfx.com/economic-calendar#2021-05-11
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 88.89%, while traders in Wall Street are at opposite extremes with 77.13%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/sV6ncqn10p
  • The Consumer Price Index, better known by the acronym CPI, is an important economic indicator released on a regular basis by major economies to give a timely glimpse into current growth and inflation levels. Learn how to better understand CPI here: https://t.co/nAa0fHHGbZ https://t.co/xkNb1VIrEN
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.10% 🇨🇦CAD: 0.08% 🇨🇭CHF: 0.06% 🇦🇺AUD: 0.03% 🇳🇿NZD: -0.03% 🇯🇵JPY: -0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/hxMR9a5jxI
  • Heads Up:🇳🇱 Inflation Rate YoY (APR) due at 04:30 GMT (15min) Expected: 1.7% Previous: 1.9% https://www.dailyfx.com/economic-calendar#2021-05-11
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.25% US 500: -0.52% France 40: -1.12% Germany 30: -1.24% FTSE 100: -1.26% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/sAj0aetO3t
  • Retail FX traders (at IG) have pushed up their long $USDCAD position to levels not seen in years which has nudged the net long to approximately 85% of open interest. They are fighting that trend https://t.co/eIOcdLiPik
  • Risk trends is the focus to start this week with the Nasdaq 100 dragging sentiment down through the close of the NY session. My attention is on the Dollar as pairs like $GBPUSD stare down major resistance or reversal: https://www.dailyfx.com/forex/video/daily_news_report/2021/05/11/EURUSD-GBPUSD-and-Nasdaq-Outlook-Key-Levels-and-Events-Ahead.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/72GGBPMNcw
  • White House monitoring supply shortages in parts of the southeast -BBG
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/Yl9vM7kO6a https://t.co/RAtsYwpmXl
S&P 500 & DAX Fundamental Forecast

S&P 500 & DAX Fundamental Forecast

Justin McQueen, Analyst

Equity Analysis and News

  • S&P 500 | Set for Record High Test
  • DAX | ECB Tiering Buoys Eurozone Banks
Equity Index Performance Chart

Source: Thomson Reuters, DailyFX

A strong week for equity markets as easing geopolitical (US/Iran) and trade (US/China) tensions support risk sentiment, and not to forget open-ended QE from the ECB to provide a helping hand. As such, the S&P 500 has breached the 3000 level with the record high now within sight.

Economic Calendar

S&P 500 | Set for Record High Test

The uptrend continues for the S&P 500, which looks to make a test of the record high at 3028. The index has been a benefit of the de-escalation of tensions between the US and China over the past week with several goodwill gestures being made by both the US and China. US President Trump alluded to the possibility for an interim trade deal being reached while China announced new US farm products to be exempt from the latest round of tariffs. However, while this latest progress may see this bounce in risk sentiment continue, China’s redlines remain (1) China want the US to remove all additional tariffs, (2) US target for goods to be purchased to match China’s demand and (3) the deal to be equal on both sides. That said, the tougher issues are unlikely to be resolved in the near future.

S&P500 Vs Trade Sensitive Sectors

DAX | ECB Tiering Buoys Eurozone Banks

S&P 500 & DAX Fundamental Forecast

The DAX had been among the best performing indices as the ECB unveiled its latest stimulus package, most notably the banking names as a tiered system had been announced. Consequently, the Stoxx 600 Banking index has continued to pick-up with the likes of Deutsche Bank being among the key beneficiaries with the BDB banking association stating that the ECB’s measures on German banks will reduce negative interest rate effects by EUR 500mln-1.9bln/year.

DAX Chart: Daily Time Frame (Feb 2018 – Sep 2019)

DAX Daily Price Chart

RESOURCES FOR FOREX & CFD TRADERS

Whether you are a new or experienced trader, we have several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at Justin.mcqueen@ig.com

Follow Justin on Twitter @JMcQueenFX

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

DISCLOSURES