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.

Free Trading Guides
EUR/USD
Mixed
GBP/USD
Bearish
USD/JPY
Bearish
Gold
Bullish
Oil - US Crude
Bearish
Bitcoin
Bearish
More View more
Real Time News
  • The Australian Dollar and New Zealand Dollar tend to rise with stocks. They have recently fallen despite gains in the #SP500. What does this mean for $AUDUSD and $NZDUSD ahead? #AUD #NZD #RBA #RBNZ - https://www.dailyfx.com/forex/fundamental/article/special_report/2020/01/17/AUDUSD-NZDUSD-Outlook-Looks-Past-Stocks-to-Rate-Cut-Bets.html?CHID=9&QPID=917702 https://t.co/ddf2fV7Kyl
  • A few snippets from today's commentary. Check out the link below for the full story (via @DailyFX). https://t.co/I31tuq764r https://t.co/x0BaiOFA1P
  • Have you joined @DailyFX @facebook group yet? Discuss your #forex strategies and brush up on your skills with us here: https://t.co/jtY1G7g8yx https://t.co/e2YrN3dBrl
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 98.00%, while traders in France 40 are at opposite extremes with 79.59%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/UL7hqSD2Ki
  • US Dollar Forecast: $USD Lacking Impetus Ahead of Consumer Sentiment #Forex traders shift focus away from US-China trade deal headlines - perhaps toward the monthly release of #ConsumerSentiment data for volatility and clues on the Greenback's next move https://www.dailyfx.com/forex/fundamental/us_dollar_index/usd_trading_today/2020/01/16/us-dollar-forecast-usd-lacking-impetus-ahead-of-consumer-sentiment.html
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.11% 🇦🇺AUD: -0.02% 🇯🇵JPY: -0.03% 🇨🇭CHF: -0.05% 🇬🇧GBP: -0.06% 🇨🇦CAD: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/Kxcb9EtIWb
  • Indices Update: As of 05:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.45% France 40: 0.26% Wall Street: 0.07% US 500: 0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/I5YIsKQAog
  • 🇯🇵 JPY Tertiary Industry Index (MoM) (NOV), Actual: 1.3% Expected: 1.0% Previous: -5.2% https://www.dailyfx.com/economic-calendar#2020-01-17
  • The $JPY has weakened as a bounce-back in risk appetite saps haven-asset demand. However, the old uptrend line still provides clear resistance. Get your market update from @DavidCottleFX HERE:https://t.co/IMhgQ9jbF9 https://t.co/I7087olftk
  • Heads Up:🇯🇵 JPY Tertiary Industry Index (MoM) (NOV) due at 04:30 GMT (15min), Actual: N/A Expected: 1.0% Previous: -4.6% https://www.dailyfx.com/economic-calendar#2020-01-17
Asia AM Digest: CAD Rises, Japanese Yen Looks to US Earnings News

Asia AM Digest: CAD Rises, Japanese Yen Looks to US Earnings News

2018-04-25 23:00:00
Daniel Dubrovsky, Analyst
Share:

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

Current Market Developments – BoC’s Poloz Speech

As the FX market transitioned to Thursday’s session, Bank of Canada’s Governor Stephen Poloz was speaking at the Senate. He reiterated that higher rates will be warranted over time. Mr. Poloz also said that some risks to the outlook include lower oil prices and uncertainty over NAFTA. The former is limiting growth in the energy sector while the latter has been a key concern for companies. USD/CAD swung around his speech.

A Look Ahead – How will Asian Shares Handle US Earnings Beat?

Meanwhile, more US companies reported their first quarter earnings towards the end of Wednesday. Facebook and Qualcomm had earnings per share beats. Their stocks rose in after-hours trade. If Asian shares take this news well as Thursday gets going, then the anti-risk Yen may depreciate.

Prior Session Recap – USD Gains as Gold Falls

The US Dollar rose after taking a break on Tuesday, climbing to its highest since January 12th. Simultaneously, local 10-year and 30-year government bond yields rallied. Meanwhile, crude oil prices brushed off inventory gains reported from the EIA, climbing in the aftermath. The anti-fiat metal, gold, declined as the greenback rose.

Wall Street ended the day slightly higher, rising and falling throughout the day. Sentiment-linked currencies like the Australian and New Zealand Dollars fell during the first half of the day, oscillatting with stocks after that. The Canadian Dollar managed to put in a recovery during the second half of the day. Its appreciation was also accompanied with local front-end bond yields rising. Much like the Fed, the Bank of Canada is also expected to raise rates this year.

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

Asia AM Digest: CAD Rises, Japanese Yen Looks to US Earnings News

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

Asia AM Digest: CAD Rises, Japanese Yen Looks to US Earnings NewsAsia AM Digest: CAD Rises, Japanese Yen Looks to US Earnings NewsAsia AM Digest: CAD Rises, Japanese Yen Looks to US Earnings NewsAsia AM Digest: CAD Rises, Japanese Yen Looks to US Earnings NewsAsia AM Digest: CAD Rises, Japanese Yen Looks to US Earnings News

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

Asia AM Digest: CAD Rises, Japanese Yen Looks to US Earnings News

CLICK HERE to learn more about the IG Client Sentiment Index

Retail trader data shows 67.4% of AUD/USD traders are net-long with the ratio of traders long to short at 2.07 to 1. The number of traders net-long is 0.9% higher than yesterday and 35.4% higher from last week, while the number of traders net-short is 4.1% lower than yesterday and 30.4% lower from last week.

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

Five Things Traders are Reading:

  1. US Dollar Index (DXY) Forecast: Can the Busy May Open Disrupt USD? by Tyler Yell, CEWA-M, Head Forex Trading Instructor
  2. Japanese Yen May Fall Despite Split Sentiment by Dylan Jusino, DailyFX Research
  3. GBP/USD Snaps April Opening Range Ahead of U.K. GDP, Carney Comments by David Song, Currency Analyst
  4. Canadian Dollar Rate Forecast: CAD Breaks Downby Tyler Yell, CEWA-M, Head Forex Trading Instructor
  5. S&P 500 Grasps for Support as Treasury Yields, US Dollar Continue to Gainby James Stanley, Currency Strategist

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

News & Analysis at your fingertips.