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  • The Japanese Yen may fall against its major peers, but there is room for a near-term climb that wouldn’t necessarily overturn a bearish technical bias. USD/JPY is eyeing support. Get your market update from @ddubrovskyFX here:https://t.co/AEnQCXnwAL https://t.co/tuq7DDF3jE
  • Protests in Colombia may continue to pressure the Peso, but surging commodity prices and a weaker Greenback could curb USD/COP gains. Get your market update here:https://t.co/vcVH75xuKI https://t.co/kEvbsagB4a
  • Money never sleeps.... https://t.co/mAkpWd2M3O
  • The US exchanges are closed and now we have to turn over to the cryptocurrency charts to monitor developments in risk trends over the weekend. Unfortunately, it can be difficult to separate systemic sentiment influences vs isolated issues (like a celebrity's tweet about a coin)
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.93% 🇦🇺AUD: 0.72% 🇪🇺EUR: 0.55% 🇨🇦CAD: 0.50% 🇬🇧GBP: 0.32% 🇯🇵JPY: 0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/rzD7Gp4VIC
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 1.17% Gold: 0.92% Oil - US Crude: 0.22% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/TU8HEn8Gbk
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.44%, while traders in France 40 are at opposite extremes with 73.01%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/M5ItmLXuiw
  • The Australian Dollar plummeted more than 1.4% against the US Dollar since the start of the week with AUD/USD reversing off technical resistance at the yearly high-close. Get your $AUD market update from @MBForex here:https://t.co/72ORZ3wZwx https://t.co/zG3UzI6bRc
  • US Markets Weekly Performance: S&P 500: -1.39% Nasdaq 100: -2.34% Dow Jones: -1.14% $SPX $NDX $DJX
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: France 40: 0.58% Germany 30: 0.35% FTSE 100: 0.33% Wall Street: -0.00% US 500: -0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/TUoFzlS6AX
Asian Markets Manage Gains, Brexit Staring Gun Fires

Asian Markets Manage Gains, Brexit Staring Gun Fires

David Cottle, Analyst

Talking Points

  • Asian markets managed to gain, if not often by much
  • Nervous eyes were cast at Europe where the UK will formally begin the process of leaving the EU
  • The US Dollar gained on renewed US interest-rate hike hopes.

Most Asian markets were higher Wednesday, although there has been some late-session trepidation as the day will see the United Kingdom’s formal application to leave the European Union. Prime Minister Theresa May has already signed the document in question which will be delivered to Brussels later.

Away from Brexit, Wall Street was driving. The Dow Jones Industrial Average snapped a long, eight-day losing streak on Tuesday which saw Asian bourses start the day in better mood. The Dollar also bounced back from Tuesday’s lows, although against the basket of major rivals which compose the Dollar Index it remains lower than it was last week. Federal Reserve Vice Chair Stanley Fisher said in a televised interview that two more US interest rate hikes this year seemed “about right” to him, steadying markets which had begun to doubt this thesis, despite its remaining the Fed’s central projection.

Australia’s ASX benchmark added 0.9%, helped by gains for both energy and financials as the greenback showed signs of life. The Nikkei was initially stymied by poor retail data, but managed to close up, if only barely (0.08%).

The Asian data calendar was a bit sparse and concentrated on Japan. Apart from the retail number, investors learned that small business was more upbeat in March. Much of the Nikkei trades ex-dividend as of Wednesday. Sales in mainland China and Hong Kong also edged up, as did Seoul’s Kospi.

Crude oil prices also continued to gain, tacking on about 0.4%, reportedly on Tuesday’s news that Libyan supply had been cut by a third thanks to the actions of armed groups in the country. Gold prices slipped from one-month highs, as US interest-rate prospects were held to have revived, and as the US Dollar strengthened.

Apart from probably endless Brexit headlines, the day will bring investors UK lending data and US crude oil inventory numbers.

Would you like to know more about trading the financial markets? DailyFX’s trading guide should be your first stop.

--- Written by David Cottle, DailyFX Research

Contact and follow David on Twitter:@DavidCottleFX

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

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