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
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
Bearish
Gold
Bearish
GBP/USD
Mixed
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
  • Heads Up:🇮🇳 Balance of Trade (JUL) due at 12:00 GMT (15min) Expected: $-2B Previous: $0.79B https://www.dailyfx.com/economic-calendar#2020-08-14
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here: https://t.co/5uSWKoLkd6 https://t.co/37m2Ij6f2H
  • Technical indicators are chart analysis tools that can help traders better understand and act on price movement. Learn more about the importance of technical analysis here: https://t.co/NpC1D8y4Aa https://t.co/aG5lue4jZ4
  • Emotions are often a key driving force behind #FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Read on and get your emotions in check here:https://t.co/eILWbFgHRE https://t.co/K4BUUCDVdB
  • 💶 GDP Growth Rate QoQ 2nd Est (Q2) Actual: -12.1% Expected: -12.1% Previous: -3.6% https://www.dailyfx.com/economic-calendar#2020-08-14
  • 💶 GDP Growth Rate YoY 2nd Est (Q2) Actual: -15% Expected: -15% Previous: -3.1% https://www.dailyfx.com/economic-calendar#2020-08-14
  • 💶 Balance of Trade (JUN) Actual: €21.2B Expected: €12.6B Previous: €9.4B https://www.dailyfx.com/economic-calendar#2020-08-14
  • 💶 GDP Growth Rate QoQ 2nd Est (Q2) Actual: -12.1 Expected: -12.1% Previous: -3.6% https://www.dailyfx.com/economic-calendar#2020-08-14
  • 🇭🇰 GDP Growth Rate QoQ Final (Q2) Actual: -0.1% Expected: -0.1% Previous: -5.3% https://www.dailyfx.com/economic-calendar#2020-08-14
  • 🇭🇰 GDP Growth Rate YoY Final (Q2) Actual: -9% Expected: -9% Previous: -9.1% https://www.dailyfx.com/economic-calendar#2020-08-14
Crude Oil Rises on API, DAX Exposed to Juncker/Trump Meeting - US Market Open

Crude Oil Rises on API, DAX Exposed to Juncker/Trump Meeting - US Market Open

2018-07-25 13:39:00
Justin McQueen, Analyst
Share:

Check out the brand new DailyFX trading forecasts for Q3

MARKET DEVELOPMENTS – CRUDE OIL PRICES FIRM, DAX EYES JUNCKER/TRUMP MEETING

US equity futures slightly softer (DJIA -0.4%, Nasdaq 100 flat, S&P 500 -0.1%) today with slight underperformance in the Dow Jones as Boeing shares dropped 3% after their lowered their EPS guidance. As a reminder, Boeing is the largest weighted stock in the DJIA, at 10%. Elsewhere, no signs of China-US trade tensions de-escalating as Trump renewed his threat on China having stated that the “US was being nice on China, until now”.

USD: The US Dollar has seen a pullback in recent trade with the break below the 200HMA in USDCNH a potential catalyst. However, President Trump’s comments made last Friday over concerns about an overvalued Dollar continue to raise suspicion among USD longs, which has been somewhat of a crowded trade of late. Focus will be on the Juncker and President Trump meeting as they look to de-escalate trade tensions and avoid auto tariffs.

AUD: Overnight saw the release of the latest Australian CPI data for Q2 whereby the headline figure printed at 2.1%, however, underwhelmed expectations of 2.2%. The RBA’s preferred measure of inflation, which is the trimmed mean, rose 1.9%, below the central bank’s target band of 2-3% for a 10th consecutive quarter. Looking closely at the numbers, CPI for market services, which excludes prices controlled by the government, were up 1.1%, implying that core inflation is simply not rising. Consequently, this calls for RBA inaction with markets not fully pricing in a 25bps hike until the beginning of 2020. As such, AUDUSD remains soft however, 0.7400 continues to offer support for the pair.

Crude Oil: Brent and WTI crude futures are firmer this morning amid reports that US crude and fuel stockpiles fell more than expected, according to the latest API data. Crude oil inventories dropped 3.2mln barrels (Exp. 2.3mln), while gasoline stocks fell 4.9mln barrels (Exp. 713k barrels). Consequently, eyes will be on the latest DoE crude inventory report.

DailyFX Economic Calendar: Wednesday, July 25, 2018 – North American Releases

Crude Oil Rises on API, DAX Exposed to Juncker/Trump Meeting - US Market Open

DailyFX Webinar Calendar: Wednesday, July 25, 2018

Crude Oil Rises on API, DAX Exposed to Juncker/Trump Meeting - US Market Open

IG Client Sentiment Index: DAX Chart of the Day

Crude Oil Rises on API, DAX Exposed to Juncker/Trump Meeting - US Market Open

Germany 30: Data shows 49.4% of traders are net-long with the ratio of traders short to long at 1.03 to 1. The number of traders net-long is 2.7% higher than yesterday and 23.8% higher from last week, while the number of traders net-short is 2.5% higher than yesterday and 11.1% lower from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests Germany 30 prices may continue to rise. Yet traders are less net-short than yesterday and compared with last week. Recent changes in sentiment warn that the current Germany 30 price trend may soon reverse lower despite the fact traders remain net-short.

Five Things Traders are Reading

  1. EUR/USD Consolidates Ahead of Juncker-Trump Meeting; ECB Tomorrowby Christopher Vecchio, CFA, Senior Currency Strategist
  2. Trading Outlook for USD, Euro, GBP Crosses, Gold Price & Others” by Paul Robinson, Market Analyst
  3. GBP Could Recover Further as Brexit Concerns Recedeby Martin Essex, MSTA, Analyst and Editor
  4. European Markets on Edge as Juncker and Trump Go Head-To-Headby Justin McQueen, Market Analyst
  5. Bitcoin (BTC) Price: Bought the Rumor, Now Sell the Fact?” by Nick Cawley, 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

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.