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
More View more
Real Time News
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here: https://t.co/t9Flsqcxo9 https://t.co/3bjMHrUZRJ
  • 🇹🇭 Balance of Trade (AUG) Actual: $-1.22B Expected: $0.97B Previous: $0.18B https://www.dailyfx.com/economic-calendar#2021-09-24
  • Heads Up:🇹🇭 Balance of Trade (AUG) due at 03:30 GMT (15min) Actual: $-1.22B Expected: $0.97B Previous: $0.18B https://www.dailyfx.com/economic-calendar#2021-09-24
  • The Spinning Top candlestick pattern forms part of the vast Japanese candlestick repertoire with its own distinct features. Gain a better understanding of the spinning top candlestick here: https://t.co/DWm7cC4v7H https://t.co/uhBNvCTHrW
  • Evergrande USD bondholders say have yet to receive interest due Thursday -BBG
  • The US Dollar seems to be back on the offensive against its major counterparts, pressuring EUR/USD and NZD/USD lower as USD/JPY consolidates. USD/CHF surges past key resistance. Get your market update from @ddubrovskyFX here:https://t.co/MrLGSp7FYa https://t.co/J0vSWHaADc
  • Gold prices gain as potential systemic risks out of China's Evergrande Group roil broader markets. Meanwhile, iron ore is ticking higher after a big drop on Monday as China steps up steelmaking curbs. Get your market update from @FxWestwater here:https://t.co/l4kAWDrr7M https://t.co/nmP0MX8LGM
  • 🇯🇵 Core Inflation Rate YoY (AUG) Actual: 0.0% Expected: 0% Previous: -0.2% https://www.dailyfx.com/economic-calendar#2021-09-23
  • 🇯🇵 Inflation Rate Ex-Food and Energy YoY (AUG) Actual: -0.5% Previous: -0.6% https://www.dailyfx.com/economic-calendar#2021-09-23
  • 🇯🇵 Inflation Rate YoY (AUG) Actual: -0.4% Previous: -0.3% https://www.dailyfx.com/economic-calendar#2021-09-23
Asia AM Digest: Euro Up on German Coalition Hopes, NZ Dollar Down

Asia AM Digest: Euro Up on German Coalition Hopes, NZ Dollar Down

DailyFX Research,

To get the Asia AM Digest every day, SIGN UP HERE

The Euro shot higher amid signs that progress is being made in German coalition talks on Friday. A preliminary deal between Chancellor Angela Merkel and the center-left SPD is reportedly in place, though further talks are still ahead. Meanwhile, the British Pound rose on reports that Spanish and Dutch officials were working behind the scenes to ensure that the post-Brexit UK/EU relationship is as close as possible.

The Australian and New Zealand Dollars declined, with the latter currency proving to be the weakest on the day among its G10 FX counterparts. The two currencies were already drifting lower when slightly upbeat US CPI data sent Treasury rates higher, undermining their yield appeal. Earlier losses seemed corrective after the Aussie hit a two-month high while the Kiwi touched the strongest level since late September.

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

Asia AM Digest: Euro Up on German Coalition Hopes, NZ Dollar Down

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

Asia AM Digest: Euro Up on German Coalition Hopes, NZ Dollar Down

IG Client Sentiment Index Chart of the Day: USD/CAD

Asia AM Digest: Euro Up on German Coalition Hopes, NZ Dollar Down

CLICK HERE to learn more about the IG Client Sentiment Index

Retail trader data shows 56.2% of traders are net-long USD/CAD, with the ratio of traders long to short at 1.28 to 1. In fact, traders have remained net-long since Dec 21 when USD/CAD traded near 1.2875; price has moved 2.7% lower since then. The percentage of traders net-long is now its lowest since Dec 27 when USD/CAD traded near 1.26502. The number of traders net-long is 9.5% lower than yesterday and 20.4% lower from last week, while the number of traders net-short is 31.4% higher than yesterday and 28.1% higher from last week.

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

Five Things Traders are Reading

  1. Weekly Trading Forecast: Markets Chase Rate Hikes Outside the US by DailyFX Research Team
  2. Risk Rally is Really a S&P 500 Rally, Dollar Collapse a EUR/USD Breakout by John Kicklighter, Chief Currency Strategist
  3. EUR/USD Celebrates to Highest Level in 3 Years; The Party May Not Last by Jeremy Wagner, CEWA-M
  4. EUR/USD Weekly Chart Analysis: Euro May Find Limited Follow-through by Paul Robinson, Market Analyst
  5. Will the Euro and Pound Trigger the Dollar’s Tumble? by John Kicklighter, Chief Currency Strategist

To get the Asia AM Digest every day, sign up here

To get the US AM Digest every day, 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