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. See our updated Privacy Policy here.

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
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
Oil - US Crude
Bearish
Wall Street
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
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Momentum off of the Fed rate forecast and subsequent reversal has faded and now the markets are weighing growth. DailyFX Chief Strategist @JohnKicklighter discusses Wednesday trade! https://t.co/UetJ3bUPhx
  • Going live for this week's webinar in 5 minutes, talking updated tech levels on the major indices, gold and crude as well as a recap of $AMZN Prime Day and its impact on the stock Join here - https://t.co/BY5KNZL8nf https://t.co/lVUKDPMMkA
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.42% 🇳🇿NZD: 0.39% 🇬🇧GBP: 0.18% 🇨🇦CAD: 0.17% 🇪🇺EUR: 0.10% 🇯🇵JPY: -0.05% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/r7HMBxWAon
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.14% US 500: 0.08% Wall Street: -0.08% France 40: -0.60% Germany 30: -0.75% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/aJA5hMmy6P
  • Heads Up:🇺🇸 Fed Bostic Speech due at 15:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-06-23
  • $EURUSD moving in for a resistance test https://t.co/IVDgKspjaf https://t.co/rhnzdAwiEI
  • AUD/USD bounces back from FOMC selloff. Powell returns to bearish rhetoric after markets react to hawkish FOMC. Get your $AUDUSD market update from @HathornSabin here:https://t.co/hYD0jSbkNx https://t.co/9FUCS7HjbN
  • $GBPUSD back at 1.4000 https://t.co/sLPxGkWs7z
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Silver: 1.62% Oil - US Crude: 1.30% Gold: 0.78% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/xs21aRt2wV
  • #Gold Price Outlook: Gold Plunges into Critical Support- $XAUUSD Levels - https://t.co/1j4Xqz2FG8 https://t.co/WZkDyweKeT
GBP/USD Close Above 1.5000 to Generate Larger Rebound on Hawkish BoE

GBP/USD Close Above 1.5000 to Generate Larger Rebound on Hawkish BoE

David Song, Strategist

Talking Points:

- GBP/USD Climbs to Fresh Monthly High on Hawkish Bank of England (BoE) Minutes.

- AUD/USD Holds April High (0.7841) Despite Stronger-Than-Expected Australia Core CPI.

- USDOLLAR Remains at Risk as Fed Liftoff Remains ‘Uncertain.’

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

GBP/USD

GBP/USD Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • GBP/USD marks fresh monthly high (1.5078) as Bank of England (BoE) warns of faster inflation on the back of the depreciation in the exchange rate & warns interest rate expectations are ‘exceptionally flat.’
  • Despite the unanimous vote, BoE may show a greater willingness to normalize monetary policy following the May 7 election amid the uncertainty surrounding the fiscal outlook; close above 1.5000-15 (50% expansion) raises the risk for a larger correction in GBP/USD.
  • Seeing increased volatility in the DailyFX Speculative Sentiment Index (SSI) following the BoE Minutes as retail crowd flips net-short GBP/USD, with ratio currently holding at -1.13.

AUD/USD

AUD/USD Daily Chart
  • Lack of momentum to test the April high (0.7841) following the stronger-than-expected print for Australia’s core Consumer Price Index (CPI) may generate range-bound prices in AUD/USD.
  • Need a close above 0.7820 (38.2% retracement) to 0.7860 (61.8% expansion) to favor a further advance in the aussie, but the pair may continue to consolidate ahead of the Reserve Bank of Australia’s (RBA) May 5 policy meeting amid speculation for a rate cut.
  • Close below 0.7570 (50% expansion) to 0.7590 (100% expansion) along with a break of the bullish RSI momentum to favor a resumption of the long-term bearish trend.

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

Read More:

Price & Time: USD Vulnerable?

GBPCAD Testing Slope Resistance- Long Scalps at Risk Sub 1.84

USDOLLAR(Ticker: USDollar):

Index

Last

High

Low

Daily Change (%)

Daily Range (% of ATR)

DJ-FXCM Dollar Index

11996.59

12024.88

11958.09

-0.17

95.42%

GBP/USD Close Above 1.5000 to Generate Larger Rebound on Hawkish BoEUSDOLLAR Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • Dow Jones-FXCM U.S. Dollar may continue to face range bound prices ahead of the U.S. Durable Goods report amid the ongoing closes above 11,951 (38.2% expansion) to 11,952 (50-Day SMA).
  • Despite the better-than-expected housing data prints from earlier this morning, the minor improvements may not be enough to generate a majority vote for a Fed rate hike in June.
  • Downside risk remains as the RSI retains the bearish momentum, with key support standing around 11,869 (23.6% expansion) to 11,901 (78.6% expansion).

Release

GMT

Expected

Actual

MBA Mortgage Applications (APR 17)

11:00

--

2.3%

FHFA House Price Index (MoM) (FEB)

13:00

0.5%

0.7%

Existing Home Sales (MAR)

14:00

5.03M

5.19M

Existing Home Sales (MoM) (MAR)

14:00

3.1%

6.1%

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