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
Subscribe
Please try again
EUR/USD
Bullish
Oil - US Crude
Bearish
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
Wall Street
Bullish
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
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • Will the US Dollar fall versus the Singapore Dollar, Taiwanese Dollar and Philippine Peso if a fiscal stimulus delay pressures Treasury yields? The Fed and earnings may keep risk appetite intact. Get your market update from @ddubrovskyFX here:https://t.co/Q7iRYGBcNo https://t.co/BIPOvQbcak
  • 4 out of 9 Dow Jones sectors advanced on Tue, with 46.7% of the shares closing in the green. Consumer staples (+1.08%), information technology (+0.82%) and industrials (+0.44%) outperformed, whereas materials (-2.60%) and communication services (-1.81) trailed behind. https://t.co/yYPIPkpDle
  • EUR/GBP gyrating as markets cast an eye to upcoming economic data releases $EUR $GBP https://t.co/j8KEzEjubn
  • Bitcoin has taken a backseat to other volatile risk assets today, with the cryptocurrency down less than half a percent $BTC $USD https://t.co/YzaX09fLAS
  • Who needs a 2 and 20 when you have Reddit?? #GameStop https://t.co/ELWWjYPg3D
  • The #Bitcoin bull has taken a back seat, at least for now, but speculative fervor continues to run high as witnessed by the saga taking place in the stock of Gamestop. Get your market update from @JStanleyFX here: https://t.co/0Q8PxyUIkc https://t.co/A2JHReRTcf
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.57% 🇬🇧GBP: 0.45% 🇦🇺AUD: 0.45% 🇨🇭CHF: 0.17% 🇪🇺EUR: 0.17% 🇯🇵JPY: 0.13% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/OyXArspzGL
  • USD/CAD continues to retreat, now trading below 1.27 $USD $CAD https://t.co/cgmNxBHsjo
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Silver: 0.44% Oil - US Crude: 0.27% Gold: -0.27% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/38weW9olX9
  • Waiting for Kodak to claim it is the most shorted stock in the world. If blockchain and vaccine pivots don't work, maybe this will be the ticket.
Asia AM Digest: CAD & GBP Tumble, NZD/USD Support Faces Local CPI

Asia AM Digest: CAD & GBP Tumble, NZD/USD Support Faces Local CPI

Daniel Dubrovsky, Analyst

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

The Canadian Dollar and British Pound were the two worst performing majors on Wednesday. The former was hurt by this month’s Bank of Canada rate decision where near-term hawkish monetary policy bets declined. It then fell some more when BOC’s Governor Stephen Poloz spoke afterwards and added that the pace of rate hikes is a considerable question mark.

Sterling suffered when a worse-than-expected UK CPI report crossed the wires ahead of a BoE rate decision where markets are envisioning a hike. There, the pace of headline and core inflation declined to their slowest since March 2017. Local bond yields tumbled, also signaling ebbing Bank of England rate hike expectations.

The US Dollar was quick to take advantage of losses in the British Pound, appreciating during the first half of the day. However, the greenback gave up some of its gains during the second half when the S&P 500fell sharply before and after market open. This occurred as US President Donald Trump tweeted that he “doesn’t like the deal for the US”, downplaying hopes that the country may rejoin the TPP.

Similar to what we saw yesterday, the sentiment-linked Australian and New Zealand Dollars climbed as the greenback fell. This was despite an overall decline in risk trends as stocks tumbled. Speaking of the latter currency, NZD/USD faces New Zealand’s first quarter CPI report early into Thursday’s session. The pair declined as expected leading into the release, and near-term options-derived support seemed to have caught it as it fell.

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

Asia AM Digest: CAD & GBP Tumble, NZD/USD Support Faces Local CPI

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

Asia AM Digest: CAD & GBP Tumble, NZD/USD Support Faces Local CPIAsia AM Digest: CAD & GBP Tumble, NZD/USD Support Faces Local CPIAsia AM Digest: CAD & GBP Tumble, NZD/USD Support Faces Local CPI

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

Asia AM Digest: CAD & GBP Tumble, NZD/USD Support Faces Local CPI

CLICK HERE to learn more about the IG Client Sentiment Index

Retail trader data shows 47.9% of AUD/USD traders are net-long with the ratio of traders short to long at 1.09 to 1. The number of traders net-long is 12.4% lower than yesterday and 6.2% lower from last week, while the number of traders net-short is 2.7% higher than yesterday and 1.2% higher from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests AUD/USD prices may continue to rise. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger AUD/USD-bullish contrarian trading bias.

Five Things Traders are Reading:

  1. Crude Oil Price Forecast: A Leg Higher On Shrinking US Stockpiles by Tyler Yell, CMT, Forex Trading Instructor
  2. S&P 500 May Trade Higher on Sentiment by Dylan Jusino, DailyFX Research
  3. Canadian Dollar Rate Forecast: BoC gets Bullish on Economy, Holds Rates by Tyler Yell, CMT, Forex Trading Instructor
  4. AUD/USD Price Outlook: Reversal Testing Initial Resistance Hurdlesby Michael Boutros, Currency Strategist
  5. GBP/USD Pulls Back on Inflation Miss, S&P 500 Rallies to Fresh April Highsby James Stanley, 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

--- Written by Daniel Dubrovsky, Junior Currency Analyst for DailyFX.com

To contact Daniel, use the comments section below or @ddubrovskyFX on Twitter

To receive Daniel's analysis directly via email, please SIGN UP HERE

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

DISCLOSURES