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.

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
Mixed
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
USD/JPY
Bullish
More View more
Real Time News
  • Heads up traders! Will be covering the #Euro in the aftermath of last week's #Fed and incoming US PCE data and the BoE later this week, looking at retail trader positioning $EURUSD $EURGBP Starting the session in about 10min, signup below! https://t.co/N2qpEMbpBv
  • Please join @ddubrovskyFX at 20:00 EST/00:00 GMT for a webinar on what other traders' buy/sell bets say about price trends. Register here: https://t.co/AzOQip9B3r https://t.co/Bp8J3szHKq
  • Heads Up:🇯🇵 BoJ Monetary Policy Meeting Minutes due at 23:50 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-06-22
  • The US Dollar may gain versus ASEAN currencies like the Singapore Dollar, Thai Baht and Philippine Peso after the Fed projected 2 rate hikes by the end of 2023. All eyes on US PCE data. Get your market update from @ddubrovskyFX here:https://t.co/LaLVW8FFHI https://t.co/W7AHAcuZbO
  • 5 out of 9 Dow Jones sectors ended higher, with 43.3% of the index’s constituents closing in the green. Consumer discretionary (+1.27%) and materials (+0.62%) outperformed, whereas industrials (-0.25%) and communication services (-0.21%) trailed behind. https://t.co/iBLgt4PcYc
  • 🇦🇺 Markit Manufacturing PMI Flash (JUN) Actual: 58.4 Previous: 60.4 https://www.dailyfx.com/economic-calendar#2021-06-22
  • 🇦🇺 Markit Services PMI Flash (JUN) Actual: 56 Previous: 58.0 https://www.dailyfx.com/economic-calendar#2021-06-22
  • Heads Up:🇦🇺 Markit Manufacturing PMI Flash (JUN) due at 23:00 GMT (15min) Previous: 60.4 https://www.dailyfx.com/economic-calendar#2021-06-22
  • Heads Up:🇦🇺 Markit Services PMI Flash (JUN) due at 23:00 GMT (15min) Previous: 58.0 https://www.dailyfx.com/economic-calendar#2021-06-22
  • Increased rate bets following June's FOMC rate decision roiled markets, including commodities. Crude oil received a boost on Iran's election, while gold and copper look to incoming inflation data out of the US. Get your market update from @FxWestwater here:https://t.co/3zlDk5ITnw https://t.co/XQfFLxf4Kq
GBP Rises as EU Sources Welcome Irish Border Proposal - US Market Open

GBP Rises as EU Sources Welcome Irish Border Proposal - US Market Open

Justin McQueen, Analyst

MARKET DEVELOPMENT – GBP RISES AS EU WELCOMES IRISH BORDER PROPOSAL

GBP: The Pound is outperforming this morning amid EU source reports suggesting that the new Irish border proposal is a step in the right direction, adding that a compromise is possible. As such, GBP has reclaimed the 1.30 handle vs. the USD, while also hitting a 2 ½ month high against the Euro, however, support is situated at the 200DMA (0.8839).

JPY: The Japanese Yen saw a reprieve from the persistent selling that it has endured in recent weeks with USDJPY back towards the 114 handle. This followed reports that the BoJ were said to be not concerned with the recent rise in JGB yields, which in turn suggests that intervention risk from the BoJ may be relatively low. However, with the 10yr JGB yield approaching the 0.2% threshold (currently yielding 0.16%) the risk of intervention may be back on the rise once this level is breached.

AUD: The Australian Dollar has largely been held captive from its Chinese proxy status, which has seen the currency drop 9% against the greenback. Eyes will be on the 2018 low (0.7066) as US Vice President Pence addresses the issues surrounding China, which could potentially escalate the current tensions between the US and China. With no trade deal in sight, headline risk continues to remain elevated, leaving the Australian Dollar vulnerable to further losses.

DailyFX Economic Calendar: Thursday, October 4, 2018 – North American Releases

GBP Rises as EU Sources Welcome Irish Border Proposal - US Market Open

DailyFX Webinar Calendar:Thursday, October 4, 2018

GBP Rises as EU Sources Welcome Irish Border Proposal - US Market Open

IG Client Sentiment: EURUSD Chart of the Day

GBP Rises as EU Sources Welcome Irish Border Proposal - US Market Open

AUDUSD: Retail trader data shows 69.0% of traders are net-long with the ratio of traders long to short at 2.22 to 1. In fact, traders have remained net-long since Sep 24 when AUDUSD traded near 0.72483; price has moved 2.3% lower since then. The number of traders net-long is 14.8% higher than yesterday and 31.1% higher from last week, while the number of traders net-short is 23.8% lower than yesterday and 23.3% lower from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests AUDUSD prices may continue to fall. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger AUDUSD-bearish contrarian trading bias.

Five Things Traders are Reading

  1. US Dollar Strength Unleashed as EUR/USD Tests the 1.1500 Big FigurebyJames Stanley , Currency Strategist
  2. AUD Targets 9-yr Low Amid Rising US Yields and Trade War Tensionsby Justin McQueen, Market Analyst
  3. US Crude Oil Price Marches Higher Despite Report of Output Increaseby Martin Essex, MSTA , Analyst and Editor
  4. Gold Price Continues to Struggle Against Resistance” by Nick Cawley, Market Analyst
  5. EURUSD Sliding Towards Technical Support - Will it Hold?” by Nick Cawley, Market Analyst

--- 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