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
Wall Street
Mixed
Gold
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
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • BoE's Ramsden says the BoE are not about to use negative rates imminently
  • BoE's Ramsden says if you have negative rates in the toolbox, you are duty bound to explore in more detail the operational considerations $GBP
  • BoE's Ramsden says he sees effective lower bound is still at 0.1% $GBP
  • BoE's Ramsden says the initial fall in the UK and global activity was less sharp than BoE feared in May $GBP
  • Japan will remove travel bank for 10 countries or more from from the beginning of October, according to Nikkei Asian Review
  • Brexit latest: Unlike the EU, the UK have tunnel vision https://t.co/yKrIlhghPV
  • The London trading session accounts for around 35% of total average forex turnover*, the largest amount relative to its peers. The London forex session overlaps with the New York session. Learn about trading the London forex session here: https://t.co/UTWxbnNz7M https://t.co/2Kmj91Q6Io
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.64%, while traders in EUR/GBP are at opposite extremes with 63.56%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/55tpE5bH1O
  • Scary to think how many job losses will have become permanent in the wake of the #CoronavirusPandemic Continuing jobless claims peaked at levels almost 3 times higher than those seen in the aftermath of the 2008 global financial crisis Hardly bodes well..... https://t.co/d7oLYkmw7k
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Gold: -0.15% Silver: -0.30% Oil - US Crude: -0.61% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/EoU23OHkkK
DailyFX Morning Digest: Euro Lower after Catalonian Referendum Results

DailyFX Morning Digest: Euro Lower after Catalonian Referendum Results

2017-10-02 13:25:00
DailyFX Research,
Share:

Receive the DailyFX Morning Digest in your inbox every day before US equity markets open - signup here

The DXY Index is pushing to its highest level in five weeks, gaining ground across the board as the new week, month, and quarter begin. The Euro is softer this morning after the Catalonian independence referendum vote yesterday, in which a stunning 89% of voting participants opted for secession. Yet with the federal Spanish government calling the vote “illegal,” and the supranational European Commission deferring management of the situation to the Mariano Rajoy-led government, it seems a new, negative political catalyst has emerged. Elsewhere, the Australian Dollar is trading slightly lower on the data ahead of the October Reserve Bank of Australia rate decision tomorrow.

DailyFX Economic Calendar: Monday, October 2, 2017 - North American Data Releases

DailyFX Morning Digest: Euro Lower after Catalonian Referendum Results

There are several data releases out of the United States this morning and two out of Canada. And while some of these events are historically considered ‘high’ importance releases, recently, they have not been recently. This commentary mainly applies to the US ISM Manufacturing Index (SEP), which falls into the category of ‘soft data’: it is a sentiment reading, not a report on real economic activity. With a noticeable divide in ‘soft’ and ‘hard’ data – confidence is up among businesses and consumers, but no material bump in economic activity has followed – traders are likely to downgrade the importance of today’s US economic releases.

DailyFX Webinar Calendar: Monday, October 2, 2017

DailyFX Morning Digest: Euro Lower after Catalonian Referendum Results

IG Client Sentiment Index Chart of the Day: EURUSD

DailyFX Morning Digest: Euro Lower after Catalonian Referendum Results

Learn more about the IG Client Sentiment Index on the DailyFX Sentiment page

EURUSD: Retail trader data shows 36.9% of traders are net-long with the ratio of traders short to long at 1.71 to 1. In fact, traders have remained net-short since Apr 18 when EURUSD traded near 1.07831; price has moved 9.0% higher since then. The number of traders net-long is 6.0% higher than yesterday and 22.0% higher from last week, while the number of traders net-short is 6.2% higher than yesterday and 4.4% higher from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests EURUSD prices may continue to rise. Positioning is more net-short than yesterday but less net-short from last week. The combination of current sentiment and recent changes gives us a further mixed EURUSD trading bias.

Five Things Traders are Reading

  1. “AUDUSD Options Pricing in Muted Price Movement Week of RBA Meeting” by Paul Robinson, Market Analyst
  2. “FX Markets Look to RBA Rate Decision on Tuesday, US NFPs on Friday” by Christopher Vecchio, CFA, Senior Currency Strategist
  3. “British Pound, US Dollar May Rise on Upbeat Manufacturing Data” by Ilya Spivak, Senior Currency Strategist
  4. “COT Report: Euro, CAD & AUD Large Spec Buyers Undeterred by Weakness” by Paul Robinson, Market Analyst
  5. “What Does the Fourth Quarter Hold for the Dollar, Equities, Oil and Other Key Markets?” by DailyFX Research Team

The DailyFX Morning Digest is published every day before the US cash equity open - you can SIGNUP HERE to receive this report in your inbox every day.

The DailyFX Evening Digest is published every day before the Tokyo cash equity open - you can SIGNUP HERE to receive that report in your inbox every day.

If you're interested in receiving both reports each day, you can SIGNUP HERE.

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

DISCLOSURES