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
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
Bearish
Wall Street
Mixed
Gold
Mixed
GBP/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
USD/JPY
Bullish
More View more
Real Time News
  • RT @BrendanFaganFx: Dow Jones Analysis: Stocks Rebound From Recent Losses as Disney Earnings Disappoint $DIS $ABNB $DASH Link: https://t.…
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Gold: 0.62% Silver: 0.17% Oil - US Crude: -0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/vBHmVNt8z6
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.98%, while traders in GBP/JPY are at opposite extremes with 71.20%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/n58Eh53VNG
  • Seems everything eventually gets the hipster treatment. Seems at present, the appetite is for artisanal carbon neutral blockchains. Well, not artisanal.
  • Disney Q2 Earnings: Revs: $15.61B vs. $15.85B est. EPS: $0.79 vs. ($0.32) est. $DIS
  • Fed's Bullard: - US to move from "recovery to "expansion" by the end of June - Fiscal policy to help households performed way above original expectations
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.41% France 40: 0.33% FTSE 100: 0.27% Wall Street: -0.03% US 500: -0.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/8RrQPqFHBL
  • Heads Up:🇺🇸 Fed Bullard Speech due at 20:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-05-13
  • Seasonality, May has been one of the worst, if not the worst, months of the year for gold prices, which may prove to be a headwind in an environment that has proved bullish otherwise.Get your $XAUUSD market update from @CVecchioFX here: https://t.co/xXnc1XUECX https://t.co/hxXNT0BCYU
  • U.S. Dollar index slightly higher on the day despite choppy price action $USD $DXY https://t.co/AbIGPs20CA
GBP/USD Retail FX Positioning Continues to Narrow From Extremes

GBP/USD Retail FX Positioning Continues to Narrow From Extremes

David Song, Strategist

Talking Points:

- GBP/USD Retail Positioning Narrows from Extreme Ahead of U.K. CPI Report.

- AUD/USD Continues to Carve Bullish Formation Ahead of China Trade Balance.

- USDOLLAR Extends Decline Even as Fed’s Fischer, Lockhart Endorse 2015 Liftoff.

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

  • Even though the headline reading for the U.K. Consumer Price Index (CPI) is expected to hold flat for the second consecutive month in September, and uptick in the core rate of inflation may spur a bullish reaction in GBP/USD as it puts increased pressure on the Bank of England (BoE) to normalize monetary policy sooner rather than later.
  • Will also keep a close eye on the key speeches by BoE board member Ian McCafferty & Andrew Haldane as the central bank sees inflation holding below 1% until Spring 2016.
  • DailyFX Speculative Sentiment Index (SSI)shows retail crowd remains net-long GBP/USD since August 21, but the ratio continues to come off of recent extremes as it narrows to +2.09, with 68% of traders long.

AUD/USD

AUD/USD Daily Chart
  • AUD/USD may extend the advance from the earlier this month as it continues to carve a series of higher highs & lows, while the Relative Strength Index (RSI) pushes into overbought territory.
  • With China – Australia’s largest trading partner – expected to show a narrowing surplus in September, a dismal development may dampen the appeal of the higher-yielding currency amid the weakening outlook for global growth.
  • A break/close above 0.7380 (50% retracement) to 0.7390 (78.6% expansion) should expose the next topside region of interest around 0.7490 (61.8% retracement) to 0.7500 (61.8% expansion).

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

Read More:

More Chinese Stimulus Prods Markets Higher

Price & Time: Another Big Support Test For USD/CAD

USDOLLAR(Ticker: USDollar):

Index

Last

High

Low

Daily Change (%)

Daily Range (% of ATR)

DJ-FXCM Dollar Index

11918.36

11943.13

11913.55

-0.19

59.23%

GBP/USD Retail FX Positioning Continues to Narrow From ExtremesUSDOLLAR Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • Dow Jones-FXCM U.S. Dollar extends the decline from the previous week even as Fed Vice-Chair Stanley Fischer and Atlanta Fed President Dennis Lockhart continue to endorse a 2015 rate hike; will continue to watch the downside targets amid the bearish formation that continues to take shape.
  • Even though the Fed stands ready to normalize monetary policy later this year, the ‘data dependent’ central bank may look to buy more time as the outlook for growth and inflation remains tilted to the downside; Advance Retail Sales & the Consumer Price Index (CPI) may heavily impact the Fed outlook ahead of the October 28 interest rate decision amid the mixed data prints coming out of the U.S. economy.
  • Will keep a close eye around 11,898 (50% retracement) to 11,901 (78.6% expansion) amid the ongoing string of lower highs & lows.

Join DailyFX on Demand for Real-Time SSI Updates!

GBP/USD Retail FX Positioning Continues to Narrow From Extremes

--- 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