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
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
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
Mixed
Gold
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
GBP/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
USD/JPY
Bullish
More View more
Real Time News
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.20% 🇳🇿NZD: 0.12% 🇨🇦CAD: 0.10% 🇨🇭CHF: -0.01% 🇯🇵JPY: -0.02% 🇪🇺EUR: -0.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/heYtrV7dTD
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.61% France 40: 0.57% Wall Street: 0.56% US 500: 0.55% Germany 30: 0.53% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/qOR5cU4JZ1
  • AUD/JPY IG Client Sentiment: Our data shows traders are now net-long AUD/JPY for the first time since Sep 16, 2020 11:00 GMT when AUD/JPY traded near 76.69. A contrarian view of crowd sentiment points to AUD/JPY weakness. https://www.dailyfx.com/sentiment https://t.co/ixxjaexZoP
  • The US Dollar is struggling against ASEAN currencies despite weakness in the S&P 500. Capital remains flowing into emerging markets, keeping USD under pressure, could this change? Find out from @ddubrovskyFX here:https://t.co/nwhy3XhE74 https://t.co/5S6AARA0DA
  • Gold prices is consolidating at US$ 1,868 - its 100-Day Simple Moving Average (SMA) line. Will it hold above this key support level? https://t.co/o0BM7ABeka
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.23% Gold: -0.07% Silver: -0.97% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/X6JBrsCCnF
  • While @IG_US Client Sentiment is offering a mixed outlook for the S&P 500 and #Dow Jones, these could be at risk to a turn lower based on multiple bearish technical warning signs. Get your market update from @ddubrovskyFX here:https://t.co/9kYnq6hH1f https://t.co/bLHDVvd44Q
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.15% 🇳🇿NZD: 0.11% 🇨🇦CAD: 0.06% 🇪🇺EUR: -0.01% 🇨🇭CHF: -0.01% 🇯🇵JPY: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/p80ihot5KY
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.00%, while traders in EUR/GBP are at opposite extremes with 67.34%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/PHdbvQq8kU
  • Copper prices may continue to push higher despite a worrying surge in Covid-19 cases and the lack of progress in Congressional stimulus negotiations. Get your #copper market update from @DanielGMoss here:https://t.co/N2OW566nID https://t.co/VJfjTNDdZI
European Markets on Edge as Juncker and Trump Go Head-To-Head

European Markets on Edge as Juncker and Trump Go Head-To-Head

2018-07-25 11:11:00
Justin McQueen, Analyst
Share:

Equity Analysis and News

  • European Market Eye Juncker and Trump meeting
  • Auto heavy DAX most exposed on soured relations

EU-US Trade War Tensions

Trade wars are at the forefront of investors mind which has led to a cloud of uncertainty for equity markets. Today, EU’s Juncker and Malmstrom will be meeting with President Trump, whereby both EU representatives will be looking to ease trade tensions, while Juncker will make a speech at 2000GMT.

The trade spat between the US and EU has centered around the auto sector given that EU have higher tariffs on cars at 10% compared to the US with 2%. Trump has previously threatened to hike tariffs on cars and auto parts from the EU to 20% if tariff rates are not lowered. Ahead of the meeting, tensions remain high, with President Trump tweeting yesterday that “tariffs are the greatest” adding that the EU is in the way of free trade. In response to threats made by President Trump, EU’s Malmstrom stated that they are planning tariffs of $20bln on US goods.

Easing Tensions to Support Auto Makers

However, if (a big if) indeed Juncker is able to ease the current trade dispute and potential reach an agreement in principle, this will likely provide a boost for auto names and in particular the auto heavy DAX index. Consequently, German auto names, Daimler, Volkswagen and BMW will be in focus. As a reminder, they hold roughly a 12.5% weighting in the DAX index.

What Does IG Client Positioning Tell Us About the DAX?

Recent changes in sentiment warn that the current Germany 30 price trend may soon reverse lower despite the fact traders remain net-short.

DAX PRICE CHART: Daily Time-Frame (April-July 2018)

European Markets on Edge as Juncker and Trump Go Head-To-Head

Chart by IG

Upside in the DAX has currently been capped by the 200DMA at 12697, while resistance also remains prominent at 12771, which marks the 61.8% Fibonacci Retracement of the 13184-12102 fall. Support lies with the 20DMA at 12551. Trend signals have weakened with RSI indicators shifting to the downside.

DAX Chart Analysis – Technical Signposts to Keep an Eye on (by Paul Robinson)

RESOURCES FOR FOREX & CFD TRADERS

Whether you are a new or experienced trader, we have several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

--- 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