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.

Free Trading Guides
EUR/USD
Bullish
GBP/USD
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
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
Gold
Bearish
Oil - US Crude
Mixed
Bitcoin
Mixed
More View more
Real Time News
  • The New York #forex session is one of the most liquid #forextrading sessions. Want to learn to trade in this session? Read up! https://t.co/qDNTKLVhFa https://t.co/tZetcS5Ev7
  • #DidYouKnow a #Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out: https://t.co/c51s3IBcEu https://t.co/roWhofPtMb
  • $USD price action has edged roughly 1.5% lower since touching year-to-date highs earlier this month and the recent stretch of weakness jeopardizes the US Dollar’s bullish trend. https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2019/10/13/usd-price-us-dollar-technical-forecast-eurusd-gbpusd-audusd-usdcad.html
  • RT @C_Barraud: 🇮🇳 World Bank Says #India Faces Severe Slowdown, Cuts GDP Forecast - Bloomberg *India’s gross domestic product growth seen a…
  • Why are Bollinger Bands @bbands and #forex such a good combo? Because forex is a form of pairs trading, each transaction involving a long position in one currency and a short position in another. Find out how you can use it in your trading strategy here: https://t.co/ZuN2xl5GIw https://t.co/G0ByyTvBnT
  • Lessons from Bretton Woods are forgotten, the US-China #tradewar represents a true existential threat to the post-World War II international trade order, and in turn, the globalized economy that has grown out of the ashes of history. More from @CVecchioFX :https://t.co/paaBxX6Xt0 https://t.co/Bf4KXjRYzR
  • The inside bar pattern occurs regularly within the financial markets. Incorporating the inside bar strategy within a trading system can enhance a trader’s market analysis technique. Find out how you can use it from @WVenketas here: https://t.co/E3EWOYTYNw https://t.co/4mSc3NB4qM
  • Currency markets may be battered by breakneck volatility if a slowdown in global economic growth triggers a collapse in the fragile market for collateralized loan obligations (CLOs). Get your market update from @ZabelinDimitri here:https://t.co/KfjjtaXs7b https://t.co/FbNC12Nq6A
  • The $GBP will be in for a volatile week ahead of critical talks at the EU-UK summit as the October 31 deadline approaches. Will policymakers be able to avoid a no-deal #Brexit? Get your $GBPUSD market update from @ZabelinDimitri here: https://t.co/r7eAf885V6 https://t.co/sqqRqnrPYa
  • Philip Shaw, Chief Economist at @Investec walks us through his views on the continuing #Brexit saga. What are the latest implications on the $GBP and Euro? Find out on Global Markets Decoded #podcast here: https://t.co/x0JW5M7L8U https://t.co/D0LIwdXJ3x
USD Firm Despite Entrenched Trade Worries, Most Asia Stocks Gain

USD Firm Despite Entrenched Trade Worries, Most Asia Stocks Gain

2018-08-29 05:02:00
David Cottle, Analyst
Share:

Asian Stocks Talking Points:

  • Equity markets were mostly higher, with the exception of Shanghai’s
  • The US Dollar was firm but didn’t rise far through the session
  • A report that a Brexit deal deadline could be delayed was in focus

The DailyFX Third-Quarter Fundamental and Technical Forecasts are out now,

The US Dollar failed to improve very muich on its overnight gains Wednesday, reportedly as investors fretted that the current trade impasse with China will remain far harder to overcome that that with Mexico, with which the US reached agreement on Tuesday. Canadian officals are due in Washington for discussions over the North American Free Trade Agreement in which all three nations participate.

Still, against a basket of its major traded rivals the Dollar was broadly steady through the Asian session, although it has recently slid down through quite well established technical support against a variety of currencies. Neither Sterling or the Euro moved very much against the greenback on a Bloomberg report which suggested that the October deadline for a Brexit deal will be dropped, to be replaced by a mid-November date. The agency cited “people familiar with the British and European positions” who apparently spoke on condition of anonymity. This story is bound to be followed mroe closely through European hours, however.

Between the two currencies, however, EUR/GBP has now risen to its highest point for the year and, indeed since late 2017. DailyFX’ Senior Currency Strategist Ilya Spivak thinks that the uptrend which has dominated proceedings since November, 2015, could be getting back on track once more.

New Highs For The Year. Euro Vs The UK Pound, Daily Chart

Stock markets were generally supported by more Wall Street pep, with the Nikkei 225 and ASX 200 both up by 0.4% as their respective closes loomed. Shanghai stocks fell though, with trade worries weighing once again. Those same worries initially supported gold by the oldest haven lost some ground as the session went on in Asia. Crude oil prices steadied with the effects of sanctions against Iran balanced by signs elsewhere of higher global supply.

Still to come on Wednesday’s economic data slate are Gross Domestic Product data from the US and France, with Germany’s GfK consumer confidence roundup also due.

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

News & Analysis at your fingertips.