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
Bearish
Oil - US Crude
Mixed
Wall Street
Bearish
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here: https://t.co/5uSWKoLkd6 https://t.co/ZcSPE0xkvX
  • Join @PaulRobinsonFX 's #webinar at 5:30 AM ET/9:30 AM GMT for insight on London #FX and #CFD trading. Register here: https://t.co/AoM3UvLtcF https://t.co/zKfTmM2Lvn
  • Germany's IFO forecasts - Upgrades 2020 GDP outlook to -5.2% from -6.7% - Downgrades 2021 GDP outlook to 5.1% from 6.4%
  • BoE's Bailey says while negative rates is in the toolbox, this does not imply the BoE would use negative rates $GBP
  • BoE's Bailey says negative rates have been a mixed bag in other countries $GBP
  • BoE's Bailey says the BoE have looked very hard at scope to lower rates further, including negative interest rates $GBP
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.45%, while traders in NZD/USD are at opposite extremes with 69.03%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/xwIu29Mfxl
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/qy92JdlDpt
  • BoE's Bailey says labour demand is weak with unemployment higher than its reported number $GBP
  • For those who like their DMAs $GBP https://t.co/N24AeArRdI
Asia AM Digest: Euro Gains as SPD Mulls Merkel-Led Coalition

Asia AM Digest: Euro Gains as SPD Mulls Merkel-Led Coalition

2017-11-27 00:00:00
DailyFX Research,
Share:

Get the Asia AM Digest every day before Tokyo equity markets opensign up here!

European currencies outperformed on Friday, with the Euro leading the way higher. This followed news that Germany’s center-left SPD party is mulling a grand coalition with its center-right rivalsin Chancellor Merkel’s CSU/CDU bloc. That would restore political stability in the Eurozone’s largest economy.

The Yen was the weakest among the major currencies as risk appetite improved across most global financial markets, weighing on the perennially anti-risk Japanese unit. The MSCI World Stock index – a proxy for broad-based sentiment trends – added 0.29 percent.

A rebound in front-end US Treasury bond yields weighed on the Australian and New Zealand Dollars. Those currencies’ yield appeal has been increasingly challenged by the greenback, which is now the third highest-yielding alternative in the G10 FX space.

DailyFX Economic Calendar: Asia Pacific (all times in GMT)

Asia AM Digest: Euro Gains as SPD Mulls Merkel-Led Coalition

DailyFX Webinar CalendarCLICK HERE to Register (all times in GMT)

Asia AM Digest: Euro Gains as SPD Mulls Merkel-Led Coalition

IG Client Sentiment Index Chart of the Day: GBP/JPY

Asia AM Digest: Euro Gains as SPD Mulls Merkel-Led Coalition

CLICK HERE to learn more about the IG Client Sentiment Index

Retail trader data shows 49.0% of traders are net-long GBP/JPY, with the ratio of traders short to long at 1.04 to 1. In fact, traders have remained net-short since Nov 07 when GBP/JPY traded near 149.806; price has moved 0.6% lower since then. The number of traders net-long is 0.4% lower than yesterday and 17.1% lower from last week, while the number of traders net-short is 9.2% lower than yesterday and 25.9% lower from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests GBP/JPY prices may continue to rise. Yet traders are less net-short than yesterday and compared with last week. Recent changes in sentiment warn that the current GBP/JPY price trend may soon reverse lower despite the fact traders remain net-short.

Five Things Traders are Reading

  1. Weekly Trading Forecast: Markets Menaced by Heavy-Duty Event Riskby DailyFX Research Team
  2. EUR/USD Weekly Technical Analysis: Euro Set to Score New Yearly Highs by Paul Robinson, Market Analyst
  3. UK Markets Prepare for Brexit, Politics and Data Deluge by Nick Cawley, Analyst
  4. Fundamental & Technical FX Preview for December 2017 Rate Decisionsby David Song, Currency Analyst and Michael Boutros, Currency Strategist
  5. Volatility Accident? SNB Flashback? What Else Before 2018? by DailyFX Research Team

To get the Asia AM Digest every day before the Tokyo cash equity open, sign up here

To get the US AM Digest every day before the US cash equity open, sign up here

To get both reports daily, sign up here

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

DISCLOSURES