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
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
GBP/USD
Mixed
USD/JPY
Mixed
Gold
Bullish
Oil - US Crude
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
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 96.91%, while traders in Germany 30 are at opposite extremes with 83.79%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/jYqUyArf3u
  • AUD/USD Technical Analysis: Aussie Dollar May Break Range Floor - https://www.dailyfx.com/forex/technical/home/analysis/aud-usd/2020/02/18/AUDUSD-Technical-Analysis-Aussie-Dollar-May-Break-Range-Floor.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #AUDUSD #technicalanalysis https://t.co/6aeywJkAkR
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.13% 🇨🇭CHF: 0.04% 🇬🇧GBP: -0.04% 🇨🇦CAD: -0.10% 🇳🇿NZD: -0.29% 🇦🇺AUD: -0.32% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/XfJ4dACKNd
  • Indices Update: As of 05:00, these are your best and worst performers based on the London trading schedule: Germany 30: -0.47% US 500: -0.49% Wall Street: -0.53% France 40: -0.55% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/bowwGbbxZe
  • Cash rate futures are pricing in about a 52% probability of an #RBA 25-bp rate cut at the June interest rate announcement -BBG $AUDUSD
  • The #Euro may have more room to fall versus its major peers such as the US Dollar, Japanese Yen and British Pound. What is the technical picture of $EURUSD, $EURJPY and $EURGBP - https://www.dailyfx.com/forex/technical/article/special_report/2020/02/18/Euro-Weakness-Risks-Accelerating-EURUSD-EURJPY-EURGBP.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/DyuPCusTCh
  • #NOK, #AUD and #NZD are expected to be the most-active #G10 FX versus #USD with one-week implied volatility at 7.15, 6.76 and 6.70 respectively [delayed] -BBG
  • Commodities Update: As of 03:00, these are your best and worst performers based on the London trading schedule: Silver: 0.64% Gold: 0.34% Oil - US Crude: -0.84% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/YvrO2r6JzE
  • Forex Update: As of 03:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.17% 🇨🇭CHF: 0.04% 🇪🇺EUR: -0.03% 🇨🇦CAD: -0.13% 🇦🇺AUD: -0.36% 🇳🇿NZD: -0.37% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/3NzfCsQ13V
  • LIVE NOW! Senior Currency Strategist @IlyaSpivak discusses the technical and fundamental $AUDUSD outlook for the week ahead here - https://www.dailyfx.com/webinars/378612179?CHID=9&QPID=917720&utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
USD Index Eyes 10,000, Yen Intervention Threats To Intensify

USD Index Eyes 10,000, Yen Intervention Threats To Intensify

2011-09-22 16:19:00
David Song, Currency Strategist
Share:

DJ FXCM Dollar Index

Index

Last

High

Low

Daily Change (%)

Daily Range (% of ATR)

DJ-FXCM Dollar Index

9976.23

9990.25

9869.37

1.15

145.39%

USD_Index_Eyes_10000_Yen_Intervention_Threats_To_Intensify_body_ScreenShot109.png, USD Index Eyes 10,000, Yen Intervention Threats To Intensify

The Dow Jones-FXCM U.S. Dollar Index (Ticker: USDollar) is 1.15% higher on the day after moving 145% of its average true range, but we may get a short-term correction over the next 24-hours of trading as the relative strength index falls back from a high of 78. In turn, the USD may fall back towards the lower bound of the Bollinger Band around 9867, and the greenback may consolidate throughout the remainder of the day as the recent advance fails to produce a test of 10,000. However, we should see the greenback continue to gain ground as long as it maintains the upward trend from earlier this month, and the reserve currency may completely retrace the decline from the beginning of the year as currency traders scale back their appetite for risk.

USD_Index_Eyes_10000_Yen_Intervention_Threats_To_Intensify_body_ScreenShot110.png, USD Index Eyes 10,000, Yen Intervention Threats To Intensify

As the Group of 20 Summit scheduled for the weekend comes into focus, global policy makers may ramp up their efforts to calm market jitters, but the uncertainties surrounding the world economy may continue to weigh on trader sentiment as the major industrialized countries face an increased risk of a double-dip recession. Indeed, fears surrounding the European debt crisis paired with the slowdown in the global economy are likely to be the two main topics discussed at the G20 conference, and the group may talk up speculation for additional monetary stimulus in an effort to encourage a sustainable recovery. As investor confidence wanes, we may see the USD make a run at the 78.6% Fibonacci retracement around 10,117 should the index close above the 61.8% Fib around 9947 later today. Indeed, the overbought signal in the RSI suggest we will see higher prices until the gauge falls back below 70, and the bullish sentiment underlying the greenback may gather pace as it benefits from safe-haven flows.

USD_Index_Eyes_10000_Yen_Intervention_Threats_To_Intensify_body_ScreenShot111.png, USD Index Eyes 10,000, Yen Intervention Threats To Intensify

Three of the four components weakened against the greenback on Thursday, led by a 2.82% decline in the Australian dollar, while Japanese Yen advanced 0.16% from the open. As the USD/JPY approaches the record-low (75.94), speculation for a Yen intervention are likely to resurface, and the Bank of Japan may face increased pressures to sell the local currency in an effort to shore up the real economy. However, the BoJ may look at alternative measures to stem the marked appreciation in the Yen and the central bank may extend its easing cycle in an effort to balance the risks for the region. In turn, we may see the recent strength in the Japanese Yen gather pace over the remainder of the week, and the USD/JPY may threaten the rebound from earlier this year as it maintains a downward trend.

Join us to discuss the outlook for the major currencies on the DailyFXForums

To discuss this report contact David Song, Currency Analyst: dsong@dailyfx.com

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

DISCLOSURES

News & Analysis at your fingertips.