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
Subscribe
Please try again
EUR/USD
Bearish
Oil - US Crude
Bearish
Wall Street
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
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
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
Mixed
More View more
Real Time News
  • Continuation patterns can present favorable entry levels to trade in the direction of the prevailing trend. Use continuation patterns in your technical analysis here: https://t.co/TUVnO3bO1P https://t.co/vBLkMKjf4x
  • Cyclical and non-cyclical stocks can help diversify a trader’s equity portfolio. Get your guide to understanding these stocks here: https://t.co/h7BKTd2J8N https://t.co/n8vpmuLdTW
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here: https://t.co/8A1QhwMVKo https://t.co/CZePv1JEFh
  • The US dollar is unloved, oversold and at lows last seen over 30-months ago. At the moment there seems to be very little reason to buy the greenback. Get your $USD market update from @nickcawley1 here:https://t.co/VY3SLs35cp https://t.co/AVpY2GkGUG
  • The Spinning Top candlestick pattern forms part of the vast Japanese candlestick repertoire with its own distinct features. Gain a better understanding of the spinning top candlestick here: https://t.co/DWm7cBMUg9 https://t.co/IUii5478Jf
  • The Swiss Franc may continue higher against the US Dollar as technical pressure favors USD/CHF bears. .Get your market update from @FxWestwater here:https://t.co/yqJbbhAWiu https://t.co/TCBkQdrMAR
  • RT @jposhaughnessy: BOOM! Mystery solved. https://t.co/njXlgejE0j
  • Gold and silver prices have come under significant pressure recently. However, this correction lower could prove short-lived as price analysis hints at a reversal higher. Get your $XAUUSD market update from @DanielGMoss here:https://t.co/K1qL0fsGwy https://t.co/pH0HQmNX14
  • The dispute between the Federal Reserve and the Treasury Department concerned economists and government officials last week. Traders, however, appeared unfazed as U.S. equity markets proceeded to higher ground. Get your market update from @FxWestwater here:https://t.co/DKK7WWHKlu https://t.co/qxKvC8FAVd
  • The British Pound is eyeing a push to fresh yearly highs against the US Dollar. However, various technical setups suggest GBP could lose ground to JPY, EUR and NZD in the near term. Get your $GBP market update from @DanielGMoss here:https://t.co/NSUnZnPb4Q https://t.co/RuBAAWS37w
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