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.

Free Trading Guides
EUR/USD
Mixed
GBP/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
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
Gold
Mixed
Oil - US Crude
Mixed
Bitcoin
Bearish
More View more
Real Time News
  • #Gold closed lower after paring early-week gains post-NFP on Friday. But will price finally break support? These are levels that matter on the $XAUUSD weekly chart. Get your $gld technical analysis from @MBForex here: https://t.co/RILBGhLAQZ https://t.co/q5znMUlEQA
  • German Bund Yields Update: 2-Year: -0.639% 3-Year: -0.651% 5-Year: -0.548% 7-Year: -0.480% 10-Year: -0.290% 30-Year: 0.228%
  • The $AUD erased half of November’s down move in a mere two days but the dominant trend bias continues to favor weakness ahead. Get your market update from @IlyaSpivak here:https://t.co/ShYksfNXyS https://t.co/OVhyNgLRn5
  • We were almost there, but the $SPX fell short of a >1.0% daily change. That raises the tally to 39 consecutive trading days without a climb or fall of even a moderate measure https://t.co/ibt82dBGmh
  • En español: El oro tropieza y se precipita en caída libre. ¿Qué explica las pérdidas del metal dorado y la alta volatilidad en los mercados financieros? #XAUUSD #trading $gold https://t.co/Hdsd0z1qih https://t.co/WKnGaABVS8
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.35% 🇦🇺AUD: 0.17% 🇯🇵JPY: 0.14% 🇨🇭CHF: -0.30% 🇪🇺EUR: -0.38% 🇨🇦CAD: -0.59% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/lrSRyCHLjw
  • Martin Guzman named as Argentina's new Minister of Economy $USDARS
  • YouGov poll finds 52% for Johnson winning debate vs 48% for Corbyn $GBPUSD
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.15% Gold: -1.07% Silver: -2.28% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/MUWxfLEsGn
  • $GBPJPY: Any close above 143.19 could embolden more market’s participants to push towards the vicinity of 144.80-94. Get your technical analysis from @malkudsi here:https://t.co/eYpmPx1pKg https://t.co/7g2rhlfzaB
European Market Reactions as London Opens Post "Brexit" Decision

European Market Reactions as London Opens Post "Brexit" Decision

2016-06-24 08:07:00
Oded Shimoni, Junior Currency Analyst
Share:

Talking Points:

- Currencies slightly balance on London open as desks go online

- “Risk off” flows seen across the board as the FTSE 100, DAX 30 open lower by more than 7%

- More than half of the FTSE 100 stocks failed to open for trade initially

Volatility is extreme with the Brexit results. Learn good trading habits with the “Traits of Successful Traders” series

European desks opened to a new reality today as the UK voters cast their votes and decided to “Brexit” from the European Union. The final results showed the “Leave” camp prevailed by 51.9% to 48.1% margin.

The market has seen extreme moves, and indeed “risk off” is apparently the order of the day. The FTSE 100 and DAX 30 both opened lower by more than 7% before stabilizing slightly after. This marked the worst drop for the FTSE 100 since 2008, and more than half of the stocks on the index failed to open initially. UK bank stocks took a major hit with Lloyds showing a drop of -30% while RBS was down -34%.

Currencies stabilized somewhat in the aftermath of some extreme moves as the British Pound and the Euro are seeing a bounce higher versus the US Dollar at the time of writing (The GBP/USD set a low around 1.32, while the EUR/USD traded near the 1.09 handle).

Yen strength has halted somewhat as well, while the sentiment linked Australian Dollar bounced from around the 0.73 handle.

Volatility is expected to remain extremely elevated, which might suggest that trading this environment should be approached with caution (if at all)

FTSE 100 (CFD: UK100) 5-Minute Chart: June 24, 2016

European Market Reactions as London Opens Post "Brexit" Decision

DAX 30 (CFD: GER30) 5-Minute Chart: June 24, 2016

European Market Reactions as London Opens Post "Brexit" Decision

GBPUSD 5-Minute Chart: June 24, 2016

European Market Reactions as London Opens Post "Brexit" Decision

EURUSD 5-Minute Chart: June 24, 2016

European Market Reactions as London Opens Post "Brexit" Decision

USDJPY 5-Minute Chart: June 24, 2016

European Market Reactions as London Opens Post "Brexit" Decision

AUDUSD 5-Minute Chart: June 24, 2016

European Market Reactions as London Opens Post "Brexit" Decision

--- Written by Oded Shimoni, Junior Currency Analyst for DailyFX.com

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

DISCLOSURES

News & Analysis at your fingertips.