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
Oil - US Crude
Mixed
Wall Street
Bearish
Gold
Bearish
GBP/USD
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
USD/JPY
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
More View more
Real Time News
  • Wall Street Futures Update: Dow Jones (-0.07%) S&P 500 (-0.01%) Nasdaq 100 (-0.31%) [delayed] -BBG
  • Time-cycle analysis suggests that the Japanese Yen could slide significantly lower against its major counterparts. Key levels for AUD/JPY, EUR/JPY and GBP/JPY. Get your market update from @DanielGMoss here:https://t.co/WPq4Z9zzEw https://t.co/gz1bAgz2o4
  • Commodities Update: As of 03:00, these are your best and worst performers based on the London trading schedule: Gold: 0.23% Silver: -0.22% Oil - US Crude: -0.58% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/vrAQivFu5K
  • Forex Update: As of 03:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.26% 🇨🇦CAD: 0.10% 🇨🇭CHF: 0.04% 🇪🇺EUR: 0.00% 🇳🇿NZD: 0.00% 🇦🇺AUD: -0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/UULUuhLCoC
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.92%, while traders in GBP/JPY are at opposite extremes with 70.92%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/qibVCKVjbh
  • The US Dollar gained against most ASEAN currencies this past week, such as the Indonesian Rupiah and Philippine Peso. Will this continue? Eyes are on Fed Chair Jerome Powell.Get your market update from @DanielGMoss here:https://t.co/fdgq31NEQ2 https://t.co/1NasBP7l2A
  • Bank of Indonesia says to remain present in market to guard Rupiah -BBG
  • House Financial Services Committee schedules second GameStop hearing for March 17 - BBG $GME
  • Speaker Pelosi says minimum wage increase will not be removed from House Covid bill - BBG
  • Asia-Pacific equities opened broadly lower amid a 'risk off' sentiment following a sour lead from Wall Street overnight. Rising yields and a stronger US Dollar exerted downward pressure over risk assets. https://www.dailyfx.com/forex/market_alert/2021/02/26/Dow-Jones-Falls-on-Rising-Yields-ASX-200-Nikkei-225-Tumble-.html https://t.co/3p7prANkLA
EUR/USD Vulnerable on Slowing Inflation- U.S. 2Q GDP Tops Forecast

EUR/USD Vulnerable on Slowing Inflation- U.S. 2Q GDP Tops Forecast

David Song, Strategist

Talking Points:

- EUR/USD Remains Oversold; Vulnerable to Further Losses on Slowing Inflation

- USD/CAD Bearish Momentum in Focus Ahead of Canada’s 2Q GDP Report

- USDOLLAR Pares Losses on Upward Revision to 2Q GDP; RSI Struggling to Hold Bullish Trend

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

EUR/USD

EUR/USD Vulnerable on Slowing Inflation- U.S. 2Q GDP Tops Forecast
  • May fail to close the opening weekly gap ahead of the European Central Bank (ECB) on September 4 as Relative Strength Index (RSI) holds in oversold territory.
  • May see growing speculation for additional monetary support should the Euro-Zone Consumer Price Index (CPI) highlight a greater threat for deflation.
  • The DailyFX Speculative Sentiment Index (SSI) continues to warn of a further decline in the EUR/USD as retain crowd is turning increasing net-long on the pair, with the ratio standing at 1.96.

USD/CAD

EUR/USD Vulnerable on Slowing Inflation- U.S. 2Q GDP Tops Forecast
  • Looks as though the USD/CAD will hold above 1.0820 (61.8% retracement) to 1.0830 (61.8% retracement) ahead of Canada’s 2Q GDP, which is expected to show a 2.7% rise in the growth rate.
  • May see the Bank of Canada (BoC) come under increased pressure to adopt a more hawkish tone for monetary policy at the September 3 meeting should the 2Q GDP report raise the outlook for growth and inflation.
  • Next downside objective comes in around 1.0780 (38.2% expansion) to 1.0790 (50.0% retracement).

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

Read More:

Price & Time: In Search of A Low in the Euro Next Week

Sharp CAD Reversal Negates USD/CAD Bull Flag, Stuns EUR/CAD, GBP/CAD

USDOLLAR

Index

Last

High

Low

Daily Change (%)

Daily Range (% of ATR)

DJ-FXCM Dollar Index

10633.66

10639.95

10616.12

-0.04

81.91%

EUR/USD Vulnerable on Slowing Inflation- U.S. 2Q GDP Tops ForecastEUR/USD Vulnerable on Slowing Inflation- U.S. 2Q GDP Tops Forecast

Chart - Created Using FXCM Marketscope 2.0

USDOLLAR(Ticker: USDollar):

  • Dow Jones-FXCM U.S. Dollar Index rebounds from a fresh weekly low of 10,616 as the advance 2Q GDP report shows an unexpected upward to 4.2% from an initial forecast of 4.0%, marking the fastest pace of growth since 3Q 2013.
  • Core Personal Consumption Expenditure (PCE) continues to highlight sticky inflation as it shows the highest reading since 1Q 2012; will it be enough to shift the Fed’s forward-guidance for monetary policy?
  • Still waiting for a break of the bullish RSI momentum to favor a larger USDOLLAR correction; former resistance around 10,555 (50.0% retracement) to 10,561 (100% expansion) remains in focus.

Join DailyFX on Demand for Real-Time SSI Updates!

Release

GMT

Expected

Actual

Gross Domestic Product (Annualized) (2Q S)

12:30

3.9%

4.2%

Personal Consumption (2Q S)

12:30

2.4%

2.5%

Gross Domestic Product Price Index (2Q S)

12:30

2.0%

2.1%

Core Personal Consumption Expenditure (QoQ) (2Q S)

12:30

2.0%

2.0%

Initial Jobless Claims (AUG 23)

12:30

300K

298K

Continuing Claims (AUG 16)

12:30

2510K

2527K

Pending Home Sales (MoM) (JUL)

14:00

0.5%

3.3%

Pending Home Sales (YoY) (JUL)

14:00

-3.5%

-2.7%

Kansas City Fed Manufacturing Activity (AUG)

15:00

7

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