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
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
Oil - US Crude
Mixed
Wall Street
Mixed
Gold
Mixed
GBP/USD
Bearish
USD/JPY
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
More View more
Real Time News
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/Yl9vM7kO6a https://t.co/7g9pB8D9xK
  • 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/OCLzmXaDCu
  • Technical analysis of charts aims to identify patterns and market trends by utilising differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here: https://t.co/KDjIjLdTSk https://t.co/UZela9nSIm
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Learn about the importance of the ISM manufacturing index here: https://t.co/Xr3xtoFpZy https://t.co/7oqC3ykBbU
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/9S5tXIs3SX https://t.co/IgUIG55MbH
  • Supply constraints, rebounding global demand and rising inflation expectations may drive crude oil prices higher in the near term. Get your market update from @DanielGMoss here: https://t.co/ezPoAwcJt7 https://t.co/NMfk1cYSvE
  • Take a closer look visually at the most influential global importers and exporters here: https://t.co/G58J1dg6y3 https://t.co/OiRiBVeuzL
  • Crude Oil Prices Aiming Higher on OPEC Surprise, Inflation Expectations - https://www.dailyfx.com/forex/fundamental/forecast/weekly/title/2021/03/06/Crude-Oil-Prices-Aiming-Higher-on-OPEC-Surprise-Inflation-Expectations.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr $CL #Crudeoil #OOTT #OPEC https://t.co/AKvXWX9DLQ
  • Given the size of the rally in the eleven months preceding the beginning of the current decline a broader sell-off looks warranted. Get your market update from @PaulRobinsonFX here: https://t.co/UxZiSulpwB https://t.co/raXvlzkGbV
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here: https://t.co/kODPAfJE79 https://t.co/lp0tmKS9WR
US AM Digest: USD Muted Despite Inflation Rising to 6-yr Highs, GBP Eyes Brexit Vote

US AM Digest: USD Muted Despite Inflation Rising to 6-yr Highs, GBP Eyes Brexit Vote

Justin McQueen, Analyst

US Market Snapshot via IG: DJIA 0.1%, Nasdaq 100 0.1%, S&P 500 0.1%

Major Headlines

  • Historic Summit Between President Trump and Kim Jong Un leads to denuclearisation deal
  • UK Labour Market Remains Robust Despite Miss in Average Earnings
  • German Investor Morale Falls on Sep 2012 Low on Trade War Concerns
  • US Inflation prints in-line with expectations at 2.8% on the year

USD: Overnight, saw a historic summit take place between President Trump and North Korean Leader Kim Jong Un, whereby both leaders signed a landmark deal which will involve the denuclearisation of the Koran peninsula. The optimism over peace hasn’t filtered into a significant strength in the USD index with the basket slipping 0.1%, while initial USDJPY appreciation had run into sellers at 110.50. Markets seemingly looking through this summit with eyes on the Fed and ECB monetary policy decisions.

Elsewhere, US CPI printed in-line with expectations across the board with a muted reaction seen in the USD, given that the FOMC meeting is 100% priced in for a hike, while the central bank has also noted that they will accept an inflation overshoot, consequently reducing odds of the Fed aggressively raising rates.

GBP: UK labour market remains robust with employment continuing to rise, while jobless claims slipped 7.7k, however this had been met with slowing wage growth components, subsequently providing a relatively mixed report. As such, GBP had held 1.34 against the USD for much of the morning, although uncertainty over the Brexit vote with parliament set to vote on the Brexit legislation has kept GBP offered. Rumours had surfaced that the government could lose the meaningful vote amendment if there is no concession. Focus on 1.3340 to the downside, whereby a break may exacerbate further GBP weakness.

EUR: Gains in Euro capped for now following another bearish report out of Germany as the latest ZEW survey showed that German sentiment fell to its lowest level since September 2012 amid concerns over the escalating trade dispute with the US. EURUSD support comes in at 1.1725, while a breach above the 1.1840 resistance could open up the doors for 1.19.

DailyFX Economic Calendar: Tuesday, June 12, 2018 – North American Releases

US AM Digest: USD Muted Despite Inflation Rising to 6-yr Highs, GBP Eyes Brexit Vote

DailyWebinar Calendar: Tuesday, June 12, 2018

US AM Digest: USD Muted Despite Inflation Rising to 6-yr Highs, GBP Eyes Brexit Vote

IG Client Sentiment Index: USDJPY Chart of the Day

US AM Digest: USD Muted Despite Inflation Rising to 6-yr Highs, GBP Eyes Brexit Vote

USDJPY: Data shows 53.0% of traders are net-long with the ratio of traders long to short at 1.13 to 1. The number of traders net-long is 3.9% higher than yesterday and 4.1% lower from last week, while the number of traders net-short is 3.1% lower than yesterday and 7.6% higher from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests USDJPY prices may continue to fall. Positioning is more net-long than yesterday but less net-long from last week. The combination of current sentiment and recent changes gives us a further mixed USDJPY trading bias.

Five Things Traders are Reading

  1. US Dollar Shrugs Off Trump-Kim Summit, Eyes FOMC and ECBby Christopher Vecchio, CFA, Sr. Currency Strategist
  2. Financial Market Sentiment Turns Positive | Webinarby Martin Essex, MSTA , Analyst and Editor
  3. Ripple (XRP) and Litecoin (LTC) Price Charts: Dead Cat Bounce?” by Nick Cawley, Market Analyst
  4. Global Trade Wars Weigh on German Sentiment which Falls to Sep 2012 Low” by Justin McQueen, Market Analyst
  5. Precious Metals Charts – Silver Rally at Risk, Gold Breakout Nearing” by Paul Robinson, Market Analyst

--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at Justin.mcqueen@ig.com

Follow Justin on Twitter @JMcQueenFX

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

DISCLOSURES