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
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
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
Wall Street
Bearish
Gold
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
GBP/USD
Bearish
USD/JPY
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
More View more
Notice

BoE Chief Econimist (Hawk) is to Step Down From BoE After June Meeting

Real Time News
  • FDA: J&J vaccine pause likely to be only a "matter of days."
  • The US Dollar has remained weaker following this morning's CPI print. The $DXY is currently trading below the 92.00 level for the first time since March 23rd, at a fresh three week low. $USD https://t.co/Lq4EUP8Gyo
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Silver: 2.11% Oil - US Crude: 1.03% Gold: 0.74% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/JNHxwZwMe2
  • $EURUSD broke as expected, but the direction of that break certainly doesn't align to the implied rate forecasts from Fed Funds futures (through Dec 2022) https://t.co/4ecrIvsmOa
  • AUD/USD remains within the confines of a head-and-shoulders formation as it retains the opening range for April. Get your $AUDUSD market update from @DavidJSong here:https://t.co/NB9AkFh9oZ https://t.co/mgcNE9Bhev
  • Both the March US headline CPI (2.64%) and 5-year breakeven inflation rate (2.52%) are well above the Fed's target rate for the medium-term https://t.co/h1hZYFj55c
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.94%, while traders in Germany 30 are at opposite extremes with 75.92%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/YYVWK1VfnY
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Silver: 2.28% Oil - US Crude: 0.88% Gold: 0.80% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/IGiOgYkbD6
  • White House: J&J vaccine pause will not have a significant impact on US vaccination plans.
  • $EURUSD at session highs having broken through last week's peak - Resistance ahead 1.1950 and 1.1990 https://t.co/GZt61d8bez
CAD Crosses in Focus Following Strong CPI- USD in Topping Process?

CAD Crosses in Focus Following Strong CPI- USD in Topping Process?

David Song, Strategist

Talking Points:

- GBP/USD Outlook Hinges on BoE Minutes, U.K. 2Q GDP

- USD/CAD Hits Fresh Weekly Low (1.0707) on Canada CPI; Lower-High in Place?

- USDOLLAR Failure to Close Above 10,440 to Highlight Topping Process

Index

Last

High

Low

Daily Change (%)

Daily Range (% of ATR)

DJ-FXCM Dollar Index

10441.33

10452.01

10426.75

0.05

96.64%

GBP/USD:

USD/CAD:

  • The USD/CAD faces an increased risk of carving a lower-high just below the 1.0800 handle as Canada Consumer Price Index (CPI) unexpectedly quickens to an annualized 2.4% in June from 2.3% the month prior.
  • Despite the break of the bullish momentum in the Relative Strength Index (RSI), the oscillator appears to be carving a lower-high as well.
  • Even though Bank of Canada (BoC) Governor Stephen Poloz talks down the risk for inflation, the ongoing shift in the policy outlook may continue to drive the USD/CAD lower as the central bank scales back its willingness to deliver another rate cut.

For more updates, sign up for David's e-mail distribution list.

CAD Crosses in Focus Following Strong CPI- USD in Topping Process?

Join DailyFX on Demand for Real-Time SSI Updates Across the Majors!

Read More:

Yen May Continue Higher as Geopolitical Jitters Fuel Risk Aversion

Dollar’s Haven Appeal Slow to Build as Global Headlines Shake Volatility

USDOLLAR Daily

CAD Crosses in Focus Following Strong CPI- USD in Topping Process?

Chart - Created Using FXCM Marketscope 2.0

USDOLLAR(Ticker: USDollar):

  • Dow Jones-FXCM U.S. Dollar Index coming back from a fresh weekly high of 10,452 as U. of Michigan Confidence survey unexpectedly weakens to 81.3 from 82.5 in June.
  • Another failed attempt to close above 10,440 (78.6% Fibonacci retracement) may continue to highlight a near-term topping process for the USDOLLAR.
  • U.S. Consumer Price Index (CPI) & Durable Goods Orders highlight the biggest event risk for the greenback.
  • Interim Resistance: 10,508 (61.8% retracement) to 10,524 (38.2% retracement)
  • Interim Support: 10,354 (Oct. low) to 10,375 (50.0& retracement)

Release

GMT

Expected

Actual

U. of Michigan Confidence (JUL P)

13:55

83.0

81.3

Leading Indicators (JUN)

14:00

0.5%

0.3%

Click Here for the DailyFX Calendar

--- Written by David Song, Currency Analyst

To contact David, e-mail dsong@dailyfx.com. Follow me on Twitter at @DavidJSong.

To be added to David's e-mail distribution list, please follow this link.

Trade Alongsidethe DailyFX Team on DailyFX on Demand

Looking to use the DailyFX Trade Signals LIVE? Check out Mirror Trader.

New to FX? Watch this Video

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

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

DISCLOSURES