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
EUR/USD
Mixed
Oil - US Crude
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
Wall Street
Bearish
Gold
Bullish
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
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
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.87%, while traders in NZD/USD are at opposite extremes with 72.22%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/ehCglt4RT8
  • New Zealand Dollar Outlook: Cyclical Upturn Ahead for $NZDUSD? - https://www.dailyfx.com/forex/technical/candlesticks/nzd-usd/2020/10/27/New-Zealand-Dollar-Outlook-Cyclical-Upturn-Ahead-for-NZDUSD.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr $NZD https://t.co/kHTDGf6lqv
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.22% 🇳🇿NZD: 0.17% 🇨🇭CHF: 0.13% 🇦🇺AUD: 0.11% 🇯🇵JPY: 0.09% 🇬🇧GBP: 0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/80LrZaVKVY
  • Brush up your knowledge on trade-wars with this tool from DailyFX research briefly outlining trade-war history dating back to the early 1900s here: https://t.co/ZWaL6laTU5 https://t.co/MWWPCQa00w
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.12% US 500: 0.11% Germany 30: -0.01% France 40: -0.08% FTSE 100: -0.13% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/XAGdQtsijK
  • WTI crude oil prices fell for a second day to US$ 38.80, marking a two-day decline of 4.6%. The selloff pressure was primarily due to a rapid rise in global coronavirus infections and dwindling hopes for a US relief package before the US election. https://t.co/ZYgNr3B3BH
  • 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/38gTDn8ejP https://t.co/fqwM6tbGfe
  • The US has registered 59,691 new coronavirus cases on October 25th, marking a decline for the second day after hitting a record on 23rd. Yet risk assets appear to be vulnerable to further pullback should coronavirus cases continue to climb around the globe. https://t.co/jcXzNDYhoD
  • Forex sentiment analysis can be a useful tool to help traders understand and act on price behavior. Learn how to get the most out of understanding trader sentiment here: https://t.co/LjEjTexrCg https://t.co/parnPmQwIj
  • Market Update Broad risk-on tilt seen in APAC trade Risk-sensitive $AUDUSD moving higher alongside #crudeoil prices and #SP500 futures Haven-linked $USD and $JPY sliding lower against their major counterparts
GBP Remains Vulnerable- USD/CAD Risks Larger Correction on Upbeat BoC

GBP Remains Vulnerable- USD/CAD Risks Larger Correction on Upbeat BoC

2014-09-16 17:45:00
David Song, Strategist
Share:

Talking Points:

- GBP/USD Rebounds Amid Sticky Core Inflation- Will BoE Minutes Reveal Larger Dissent?

- USD/CAD Risks Larger Correction on Less-Dovish Rhetoric from BoC Governor Stephen Poloz

- USDOLLAR Vulnerable to Dovish FOMC; Forward-Guidance for Monetary Policy in Focus

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

GBP/USD

GBP Remains Vulnerable- USD/CAD Risks Larger Correction on Upbeat BoC
  • Despite sticky core inflation in the U.K, the GBP/USD remains vulnerable to a further decline should the Bank of England (BoE) Minutes show another 7-2 split, while Scotland Referendum poses the largest risk for surprise should the region leave the U.K.
  • Despite the bullish break in the Relative Strength Index (RSI), the oscillator could be carving out another lower-high as it dips back into oversold territory.
  • Nevertheless, the DailyFX Speculative Sentiment Index (SSI) continues to narrow, with the ratio currently standing at +1.15.

USD/CAD

GBP Remains Vulnerable- USD/CAD Risks Larger Correction on Upbeat BoC
  • USD/CAD slips to fresh weekly low of 1.0971 as Bank of Canada (BoC) Governor Stephen Poloz natural recovery ‘appears to be underway.’
  • Nevertheless, will continue to look for a higher-low as the pair carves a higher-high in September; inverse head-and-shoulders remains in play as RSI retains bullish momentum.
  • Next downside region of interest comes in around 1.0900 (23.6% retracement) to 1.0920 (50.0% retracement).

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

Read More:

Price & Time: Gold Exhaustion Near?

GBP/USD Extends Losses Below 1.6200 As UK CPI Slows To A 5-Year Low

USDOLLAR(Ticker: USDollar):

Index

Last

High

Low

Daily Change (%)

Daily Range (% of ATR)

DJ-FXCM Dollar Index

10843.53

10898.71

10829.7

-0.30

170.24%

GBP Remains Vulnerable- USD/CAD Risks Larger Correction on Upbeat BoCGBP Remains Vulnerable- USD/CAD Risks Larger Correction on Upbeat BoC

Chart - Created Using FXCM Marketscope 2.0

  • Dow Jones-FXCM U.S. Dollar Index continues to mark string of higher-highs going into the Federal Open Market Committee (FOMC) meeting; still watching the July 2013 high (11,009).
  • We will continue to favor topside targets as long as the RSI retains the bullish trend & continues to push deeper into overbought territory.
  • The forward-guidance laid out by the FOMC will be the key focus as the central bank looks to halt its asset-purchase program at the October 29 meeting.

Join DailyFX on Demand for Real-Time SSI Updates!

Release

GMT

Expected

Actual

Produce Price Index (MoM) (AUG)

12:30

0.0%

0.0%

Produce Price Index (YoY) (AUG)

12:30

1.8%

1.8%

Produce Price Index ex Food and Energy (MoM) (AUG)

12:30

0.1%

0.1%

Produce Price Index ex Food and Energy (YoY) (AUG)

12:30

1.8%

1.8%

Net Long-term TIC Flows (JUL)

20:00

$25.0B

Total Net TIC Flows (JUL)

20:00

--

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