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. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Wall Street
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
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here:
  • Get your snapshot update of the of top level exchanges and key index performance from around the globe here:
  • RT @FxWestwater: Japanese Yen Forecast: JPY Crosses Eye BoJ, CPI as Haven Flows Bolster Yen Strength Link: https:/…
  • 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:
  • Stocks appear to be in a corrective phase but could get put to the test; levels and lines to watch in the days ahead. Get your weekly equities forecast from @PaulRobinsonFX here:
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here:
  • Further your forex knowledge and gain insights from our expert analysts on AUD with our free guide, available today:
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here:
  • Trading Forex is not a shortcut to instant wealth, excessive leverage can magnify losses, and sentiment is a powerful indicator. Learn about these principles in depth here:
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here:
Turkish Lira Delighted During Central Bank Bonanza - US Market Open

Turkish Lira Delighted During Central Bank Bonanza - US Market Open

Justin McQueen, Strategist

Check out the brand new DailyFX trading forecasts for Q3


USD: As was the case with yesterday’s PPI report, the latest inflation readings underwhelmed economic forecasts with the headline reading dropping 0.2ppts to 2.7%. Consequently, the USD is trading softer against its major counterparts as hopes of an aggressive monetary tightening stance from the Federal Reserve recede. However, despite the softer inflation prints, expectations for 2 more rate rises this year are relatively unchanged.

TRY: The Turkish Lira is notably firmer after the Turkish Central Bank delivered a 625bps rate hike to 24% surpassing expectations of a 425bps rise. This was also despite comments President Erdogan who stated that interest rates should be lowered prior to the rate decision. Alongside this, the Turkish Central Bank noted that they would tightening monetary policy further in order to bring down inflation, which is currently tracking at the highest level since 2003.

EUR: Given the source reports yesterday that the ECB would lower growth forecasts and keep inflation forecasts unchanged. The ECB meeting itself had a relatively impact on the Euro, as such, focus had turned towards President Draghi’s presser, whereby the ECB President dismissed the spillover effects from the turbulence in emerging markets, namely, Turkey and Argentina.

GBP: A relatively muted affair with the Bank of England who stood pat on monetary policy. In turn, minimal reaction had been seen in the Pound with the central bank providing a somewhat balanced statement. The BoE had acknowledged that Brexit risks had increased since the prior meeting, although, highlighted that provided the economy grows as forecast, further tightening will be warranted. The Pound however has made a break above 1.31 following reports that the UK and EU have made progress on key Brexit issues.

DailyFX Economic Calendar: Thursday, September 13, 2018 – North American Releases

Turkish Lira Delighted During Central Bank Bonanza - US Market Open

DailyFX Webinar Calendar: Thursday, September 13, 2018

Turkish Lira Delighted During Central Bank Bonanza - US Market Open

IG Client Sentiment Index: EURUSD Chart of the Day

Turkish Lira Delighted During Central Bank Bonanza - US Market Open

EURUSD: Data shows 44.8% of traders are net-long with the ratio of traders short to long at 1.23 to 1. In fact, traders have remained net-short since Aug 21 when EURUSD traded near 1.14918; price has moved 0.8% higher since then. The number of traders net-long is 2.0% higher than yesterday and 17.0% lower from last week, while the number of traders net-short is 6.8% lower than yesterday and 17.8% lower from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests EURUSD 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 EURUSD price trend may soon reverse lower despite the fact traders remain net-short.

Five Things Traders are Reading

  1. EURUSD Nudges Lower After ECB Stands Pat: Press Conference Aheadby Nick Cawley, Market Analyst
  2. GBP Stable as Bank of England Leaves UK Interest Rates Unchanged" by Martin Essex, MSTA, Analyst and Editor
  3. GBPUSD Price Analysis: Short-Term Uptrend Remains in Placeby Nick Cawley, Market Analyst
  4. USDTRY May Hit Record High on Turkish Central Bank Inaction” by Justin McQueen, Market Analyst
  5. Bitcoin and Ethereum Price Analysis: Buyers Beware” by Nick Cawley, Market Analyst

--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at Justin.mcqueen@ig.comFollow Justin on Twitter @JMcQueenFX

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