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/2L5DGk7cxl
  • Dealing with the fear of missing out – or FOMO – is a highly valuable skill for traders. Not only can FOMO have a negative emotional impact, it can cloud judgment and overshadow logic. Learn how you can control FOMO in your trading here: https://t.co/lgDf5cVYOn https://t.co/zRBB1hmhJm
  • USD/CAD has bounced off a key support area on Friday and could potentially charge higher in the coming week as risk-aversion over coronavirus fears has started to dominate market moves. Get your weekly CAD technical forecast from @DColmanFX here: https://t.co/bySyBXTAdr https://t.co/y6UqD0quGN
  • 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/sPcCTQfaRd
  • The US Dollar slipped last week after the Federal Reserve calmed taper timeline talks. Friday’s non-farm payrolls figure may rekindle upside USD bets if it impressive. Get your weekly USD forecast from @FxWestwater here: https://t.co/4KDanAA0Q1 https://t.co/ZZWpIZlZBo
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here: https://t.co/8A1QhwMVKo https://t.co/J0F9xIw2I0
  • The Nasdaq 100 and Russell 2000 find themselves with significantly different technical formations but traders may find cause for optimism in both indices. Get your weekly equities technical forecast from @PeterHanksFX here: https://t.co/22fvav620W https://t.co/ajXEhMQhUp
  • Becoming a forex trader means living and breathing the excitement, risk and reward of trading in the biggest and most liquid market in the world. Do you have what it takes? Read here to discover the qualities and processes it takes to build consistency: https://t.co/EfWEACQ6Cz https://t.co/wRwHXFbbBW
  • Becoming a forex trader means living and breathing the excitement, risk and reward of trading in the biggest and most liquid market in the world. Do you have what it takes? Read here to discover the qualities and processes it takes to build consistency: https://t.co/EfWEACQ6Cz https://t.co/ZWwGB8J6I7
  • Ethereum is starting to outperform Bitcoin again ahead of ETH’s latest upgrade, while Binance continues to pare back business areas amid ongoing regulatory pressure. Get your crypto forecast from @nickcawley1 here: https://t.co/ul4TIfI9bv https://t.co/Ht5Mr0uu91
Asian Stocks Gain, USD Stays Down, US/China Trade In Focus

Asian Stocks Gain, USD Stays Down, US/China Trade In Focus

David Cottle, Analyst

TALKING POINTS:

  • Asian stocks were mostly higher as a new week got under way
  • The US Dollar’s slip continued, with lower Treasury yields weighing
  • The week’s trade talks between Beijing and Washington will be closely watched

What makes the best traders stand out? Take a look at the DailyFX deep, deep dive into the Traits of Successful Traders

Asian stocks were mostly higher Monday, following US action last week but with one eye still on global trade.

US President Donald Trump said in a Tweet Sunday that he was working with Chinese leader Xi Jinping to try and give Chinese telecoms equipment maker ZTE a way back into business. Washington had imposed a ban on US companies working with the Chinese name because it had shipped equipment to Iran. Trump’s tweet was seen as conciliatory ahead of a second round of trade talks, which looms this week and on which many hopes are pinned..

The Nikkei 225 ended up 0.6% with all major indexes in the green with the exception of the Kospi which was flat. The Hang Seng was a particular leader, rising 1.1% as its close neared.

The US Dollar is still feeling the pressure of last week’s weaker inflation numbers out of the US, with lower US Treasury yields also weighing. Malaysia’s Ringgit fell nearly 1% to a four-month low against the Dollar as local markets reopened following two days of post-election holidays last week. Former Prime Minister Mahathir Mohamad defeated the coalition government in last week’s elections. The local stock market manages gains, however.

EUR/USD has put in a modest bounce but has so far failed to get back above the levels traded in early May.

Euro Vs US Dollar, Daily Chart

Oil prices slipped on a rise in US drilling rigs and on opposition in Europe and elsewhere to US sanctions against Iran. Gold prices gained, probably thanks to the US Dollar’s slip.

The economic calendar is quite bare for the remainder of Monday. European Central Bank board memebr Sabine Lautenschlager will speak in Copenhagen.

RESOURCES FOR TRADERS

Whether you’re new to trading or an old hand DailyFX has plenty of resources to help you. There’s our trading sentiment indicator which shows you live how IG clients are positioned right now. We also hold educational and analytical webinars and offer trading guides, with one specifically aimed at those new to foreign exchange markets. There’s also a Bitcoin guide. Be sure to make the most of them all. They were written by our seasoned trading experts and they’re all free.

--- Written by David Cottle, DailyFX Research

Follow David on Twitter@DavidCottleFX or use the Comments section below to get in touch!

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

DISCLOSURES