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
EUR/USD
Mixed
Oil - US Crude
Mixed
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
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Emerging Markets: Volatility is rife within the EM complex following the heavy selling in the Turkish Lira, having blown past the 7.0000 handle. Get your $XAG market update from @JMcQueenFX here: https://t.co/SIfXngFsR8 https://t.co/uDh1sdNfkn
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.13%, while traders in US 500 are at opposite extremes with 76.27%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/E6VnriWgve
  • RT @FxWestwater: $USDTRY, $EURTRY Jump to Record Highs on #Lira Weakness - via @DailyFX https://www.dailyfx.com/forex/market_alert/2020/08/06/USDTRY-EURTRY-Jump-to-Record-High-on-Lira-Weakness.html https://t.co/LsZS5Tifho
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Silver: 4.47% Gold: 0.94% Oil - US Crude: 0.34% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/uUMsYzfIqQ
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.61% 🇬🇧GBP: 0.43% 🇳🇿NZD: 0.37% 🇯🇵JPY: 0.18% 🇨🇭CHF: -0.06% 🇨🇦CAD: -0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/qChN4x7BRN
  • 🇷🇺 Inflation Rate YoY (JUL) Actual: 3.4% Expected: 3.4% Previous: 3.2% https://www.dailyfx.com/economic-calendar#2020-08-06
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.04% France 40: -0.02% Germany 30: -0.07% FTSE 100: -0.09% US 500: -0.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/1YBsxDGpxy
  • RT @realDonaldTrump: Upon departing the Oval Office for Ohio, I’ve notified my staff to continue working on an Executive Order with respect…
  • Heads Up:🇷🇺 Inflation Rate YoY (JUL) due at 16:00 GMT (15min) Expected: 3.4% Previous: 3.2% https://www.dailyfx.com/economic-calendar#2020-08-06
  • Japanese #Yen Outlook: $USDJPY Rebounds Off Support- Recovery Levels - https://t.co/3Q9KuieaSE https://t.co/iMyJx8fBwL
Stocks May Gain as Yen Falls, GBP Recovers - Asia Market Open

Stocks May Gain as Yen Falls, GBP Recovers - Asia Market Open

2018-07-16 00:00:00
Daniel Dubrovsky, Analyst
Share:

We recently released our 3Q forecasts for the Euro and British Pound in the DailyFX Trading Guides page

Weekend Developments - Euro Gaps Higher, Pares Gains

Over the weekend, reports crossed the wires that US President Donald Trump labeled the European Union as a “foe”, citing trade tensions as the reason. However, a couple of hours later European Council President Donald Tusk stepped in and claimed this update was ‘fake news’. Mr. Tusk added that the two are ‘best friends’. The Euro thus saw some volatility at Monday open. First gapping higher, and then paring its gains.

Friday’s US Session Developments – GBP Recovers as Trump Apologizes to May

The Euro was not the only currency being pushed and pulled by conflicting headlines recently. During Friday’s US trading session, the British Pound recovered against its major counterparts. Its appreciation was accompanied with Mr. Trump apologizing to UK Prime Minister Theresa May after his earlier remarks about her soft Brexit plan jeopardizing any future trade deals with them.

With that in mind the US Dollar, which rallied as the British Pound initially fell, pared gains during the second half of Friday’s session and finished the day little changed. Meanwhile, another solid Chinese trade surplus with its US counterpart rekindled concerns that the Trump Administration would continue pursuing harsher tariffs. The anti-risk Japanese Yen rose while the sentiment-linked New Zealand Dollar fell.

Current Developments/A Look Ahead Asian Stocks May Gain as Yen Falls

Speaking off, the New Zealand Dollar brushed off a rather disappointing services PMI report. In June, the NZ Performance of Services Index fell to 52.8 from 57.1 in May. This was the weakest outcome since December 2012. Keep in mind that a reading above 50 indicates expansion and vice versa. NZD’s minimal response likely reflects the data’s limited implications for RBNZ rate hike bets.

Rather, sentiment-linked currencies (including the Australian Dollar) may have some scope to gain ahead. Donald Trump dialing back his trade threats on the UK and potentially the EU could offer Asian equities the fuel to rise. Such a scenario bodes ill for the anti-risk Japanese Yen. Finally, AUD could see some volatility on the upcoming China GDP release. But like the RBNZ, it likely has minimal implications for RBA rate hike expectations.

We will be covering the Chinese second quarter GDP release LIVE, check out our DailyFX Webinar Calendar to sign up for the event!

Five Things Traders are Reading:

  1. EUR/USD Weekly Technical Outlook: Higher-low, Support Test, or Nothing? Paul Robinson, Currency Analyst
  2. EURUSD, Dow, Oil Will Start New Week with Ranges and a Fear of Trade Wars by John Kicklighter, Chief Currency Strategist
  3. Australian Dollar Could Be Stuck Between RBA Minutes, Jobs Data by David Cottle, Analyst
  4. USD/JPY Forecast: Dollar Strength to Persist on Hawkish Fed Testimonyby David Song, Currency Analyst
  5. USD: Trade Wars vs Strong Economic Fundamentals - The Battle Continues by Nick Cawley, Analyst

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

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

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

DISCLOSURES

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.