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  • Gold could suffer further near-term losses due to rising U.S. Treasury yields and a weak technical picture for price action. Get your weekly gold forecast from @DColmanFX here: https://t.co/g9QvH3L4It https://t.co/Vz98E0Bl9U
  • Gold has been trending lower after failing to clear resistance in the $1835 area earlier this month. Get your $XAUUSD market update from @DColmanFX here:https://t.co/3hm1g3BHgf https://t.co/MdTQKEBCBx
  • Key break here in the 10-year #Treasury yield as it rises to the highest since late June Took out 1.4230 resistance, and the 100-day SMA Eyes now on the 38.2% Fib extension at 1.4775 Also potential falling resistance from March https://t.co/4cI6l210ui
  • The move in rates after this week’s FOMC has continued and the 10 year yield has pushed up to a fresh two-month-high. Get your market update from @JStanleyFX here:https://t.co/CRWhuZ3sxD https://t.co/svHHqN2Zz8
  • S&P 500 contending with its proverbial ‘line in the sand’ as bulls and bears battle for directional control. How we close/trade around the 50-day moving average could serve as a noteworthy bellwether for risk trends headed into next week. I remain cautious below ~4,480. $SPX $ES https://t.co/qogkjs1Sx2
  • USD/JPY trades to a fresh monthly (110.57) amid the pickup in longer-dated US Treasury yields, and the exchange rate may stage a larger advance over the coming days. Get your market update from @DavidJSong here:https://t.co/dlNXOrJnM9 https://t.co/LCQd26W1zF
  • US yields continue to climb, with the 10-year Treasury yield trading above 1.45% $ZN $ZB https://t.co/N4EDfwD3nZ
  • $USDJPY bull thesis appears quite constructive. Technicals show topside breakout above trend resistance following a period of consolidation. Bond yields providing the fundamental catalyst. Eyes on Aug/YTD highs. A broad-based deterioration in market sentiment poses downside risk. https://t.co/AazskXGjHq
  • WTI posting another session of strong gains, currently flirting with the 74 handle $CL #Oil #OOTT https://t.co/oYnm2OYRky
  • The New Zealand Dollar’s bullish breakout attempt in early-September was rebuffed. Price action at the end of the month is telling a different story. Get your market update from @CVecchioFX here:https://t.co/AquMSrssne https://t.co/DtFuFfrS7Q
DailyFX US AM Digest: US Dollar Dips with Yields; Sterlings Gains on CPI

DailyFX US AM Digest: US Dollar Dips with Yields; Sterlings Gains on CPI

DailyFX Research,

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The US Dollar is down for the second consecutive day, shedding its temporary ‘safe haven’ status as both equities and bond yields move lower on Tuesday. Market participants have proven skeptical over the current trading environment, with measures of equity volatility remaining high relative to their 20-day moving averages (VIX was at 27.14 at the time this report; the 20-day average was 18.74). Measures of FX volatility have started to perk up as well. Elsewhere, the British Pound received a boost after the January CPI report showed price pressures remain firm, giving credibility to some BOE policymakers’ recent claims that a rate hike may need to come sooner than currently anticipated (rates markets pricing in August 2018 for next hike).

DailyFX Economic Calendar: Tuesday, February 13, 2018 – North American Releases

DailyFX US AM Digest: US Dollar Dips with Yields; Sterlings Gains on CPI

Another quiet day on the North American economic calendar means the news wire will be in focus again on Tuesday. The early-week lull in economic data from Canada and North America won’t last long, as the January US CPI and Retail Sales reports due tomorrow should prove incendiary for USD-pairs. Join Senior Currency Strategist Christopher Vecchio, CFA at 8:15 EST/13:15 GMT tomorrow for live coverage of the data.

DailyFX Webinar Calendar: Tuesday, February 13, 2018

DailyFX US AM Digest: US Dollar Dips with Yields; Sterlings Gains on CPI

IG Client Sentiment Index Chart of the Day: GBPUSD

DailyFX US AM Digest: US Dollar Dips with Yields; Sterlings Gains on CPI

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

GBPUSD: Retail trader data shows 49.1% of traders are net-long with the ratio of traders short to long at 1.04 to 1. The number of traders net-long is 14.5% higher than yesterday and 16.7% higher from last week, while the number of traders net-short is 2.7% higher than yesterday and 11.7% lower from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests GBPUSD 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 GBPUSD price trend may soon reverse lower despite the fact traders remain net-short.

Five Things Traders are Reading

  1. “US Dollar Bounces, but Hasn’t Bottomed Yet - Key Levels” by Christopher Vecchio, CFA, Senior Currency Strategist
  2. “Technical Outlook for S&P 500, DAX, US & UK Crude Oil, Gold & More” by Paul Robinson, Market Analyst
  3. “UK Bond Yields will Underpin GBP in the Weeks Ahead” by Nick Cawley, Analyst
  4. “GBPUSD Firms as UK Inflation Tops Expectations” by Martin Essex, MSTA, Analyst and Editor
  5. “FTSE Technical Outlook: Bouncing from Support, but Can It Last?” by Paul Robinson, Market Analyst

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

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