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
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
Wall Street
Mixed
Gold
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
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • Heads Up:🇪🇺 EUR German Retail Sales (YoY) (FEB) due at 06:00 GMT (15min), Actual: N/A Expected: 1.5% Previous: 1.8% https://www.dailyfx.com/economic-calendar#2020-04-01
  • A tidal wave of cash waits to return to virus-battered assets, backstopped by huge stimulus. It is unlikely to deploy until infection slows, whatever the US administration prefers. Get your market update from @DavidCottleFX here: https://t.co/OWOi2HxejD https://t.co/oSaImLHSv5
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 95.69%, while traders in US 500 are at opposite extremes with 72.84%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/F662hrVIJs
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.01% 🇪🇺EUR: -0.05% 🇳🇿NZD: -0.11% 🇯🇵JPY: -0.23% 🇨🇦CAD: -0.25% 🇬🇧GBP: -0.29% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/Eap93N4RvZ
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: US 500: -1.82% Wall Street: -1.83% Germany 30: -2.34% France 40: -2.41% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/g3El2CLFLt
  • My trading video for today: 'Dow Ends Worst Quarter Since 1987, Oil a Record and Trump Talks Infrastructure' https://www.dailyfx.com/forex/video/daily_news_report/2020/04/01/Dow-Ends-Worst-Quarter-Since-1987-Oil-a-Record-and-Trump-Talks-Infrastructure.html?ref-author=Kicklighter&QPID=917719&CHID=9
  • Foreign exchange – or “#forex” – markets often pay close attention to politics and central bank policy. We offer a model for traders to gauge their impact on exchange rates. Get your market insight from @ZabelinDimitri and @CVecchioFX here: https://t.co/FbXc1Awu6a https://t.co/5Gp7y2QwCB
  • Forex Update: USD gains against its major counterparts, with GBP (-0.31%) and CAD (-0.31%) showing the biggest losses. https://t.co/tsmFUrcLAQ
  • Wall Street Futures [delayed]: Dow Jones (-1.37%) S&P 500 (-1.40%) Nasdaq (-0.98%) -BBG
  • The $USD is on the defensive after the Fed activated open-ended QE to becalm panicky financial markets, but scope for renewed stress means losses may be limited. Get your market update from @IlyaSpivak here:https://t.co/dX4Y2akuLc https://t.co/HTn5MtkpFO
Trade Worries Hit Asian Markets But Widespread Holidays Thin Trade

Trade Worries Hit Asian Markets But Widespread Holidays Thin Trade

2018-09-24 05:14:00
David Cottle, Analyst
Share:

Asian Stocks Talking Points:

  • Asian stocks turned lower on Monday
  • A third round of US tariffs against China took effect
  • Many key bourses were shuttered for holiday breaks, however

Find out what retail foreign exchange investors make of your favorite currency’s chances right now at the DailyFX Sentiment Page

Monday saw many Asian stocks market closed for the autumn equinox holiday, which took Tokyo, Shanghai and Seoul out of the game. Hong Kong and Sydney were open however and both their mainboards slipped as trade worries weighed once more, cutting through the optimism attendant on last week’s Wall Street records.

The latest round of US tariffs targeting Chinese imports came into effect on Monday. A new 10% levy will be slapped on goods from furniture to certain electrical appliances, which will rise to 25% at the end of this year. In return, Beijing has said it will impose its own tariffs on US imports. China has also moved to cancel trade talks, with relations clearly resistant to any semblance of a thaw.

While none of this was in any way unexpected, the Hang Seng was down by 1.2% as its Monday close approached. The ASX 200 did better and pared some losses. It was still in the red though, if by less than 0.1% in the late Sydney afternoon.

The Japanese Yen seemed to get some support from diminished risk appetite but, with so many important centers on the sidelines, foreign exchange trade was clearly subdued. The British Pound was clobbered at the end of last week by the European Union’s brusque rejection of London’s latest Brexit plan. However, it remains in the daily-chart uptrend forged against the US Dollar in mid-August, if only just.

Uptrend Holds, Just. UK Pound vs US Dollar, Daily Chart

Market closures meant that gold price action was also lacking. Crude oil prices did rise on a combination of OPEC declining to increase supply and looming US sanctions on Iranian exports. However, worries about trade conflict have raised the specter of weaker demand and this is keeping a lid on the market.

Still ahead on Monday’s rather sparsely populated economic data schedule is Germany’s IFO business- climate snapshot, commentary from European Central Bank President Mario Draghi and Mexican Consumer Price Index data.

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.