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
EUR/USD
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
Oil - US Crude
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
Wall Street
Mixed
Gold
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
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.61%, while traders in EUR/USD are at opposite extremes with 69.17%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/4I6evWndsv
  • There is a great debate about which type of analysis is better for a trader. Is it better to be a fundamental trader or a technical trader? Find out here: https://t.co/aVAzFypAg1 https://t.co/afeXKfZT4K
  • 🇷🇺 Interest Rate Decision Actual: 4.25% Expected: 4.25% Previous: 4.25% https://www.dailyfx.com/economic-calendar#2020-10-23
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.43% Gold: 0.29% Silver: 0.05% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/joUZve1zxA
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.44% 🇳🇿NZD: 0.36% 🇨🇭CHF: 0.32% 🇯🇵JPY: 0.20% 🇨🇦CAD: 0.17% 🇬🇧GBP: 0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/jitwr50kLY
  • Heads Up:🇷🇺 Interest Rate Decision due at 10:30 GMT (15min) Expected: 4.25% Previous: 4.25% https://www.dailyfx.com/economic-calendar#2020-10-23
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 1.38% France 40: 1.05% Germany 30: 0.78% Wall Street: 0.26% US 500: 0.22% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/T1eJUg4Xb4
  • There are many different types of forex orders, which traders use to manage their trades. While these may vary between different brokers, there tends to be several basic FX order types all brokers accept. Learn about different FX order types here: https://t.co/lIJdiz4xSz https://t.co/40yHBdRDXx
  • Irish Foreign Minister says the issues that are preventing a Brexit deal being finalised are very much still there $GBP
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here: https://t.co/UVvf51HiVP https://t.co/cLrTN3ezxf
IMF Downgrades Global Growth Call Citing 'Unsettled' Trade Picture

IMF Downgrades Global Growth Call Citing 'Unsettled' Trade Picture

2018-10-09 01:30:00
David Cottle, Analyst
Share:

IMF World Economic Outlook Talking Points:

  • The IMF cut its global growth forecast
  • Calls for the EU, US and China were all downgraded
  • But Emerging Markets took the biggest hits

Fourth-quarter technical and fundamental forecasts from the DailyFX analysts are out now.

The International Monetary Fund cut its global growth forecast on Tuesday, citing escalating trade conflicts and tighter financial conditions. A gloomier reassessment of Emerging Markets’ chances were behind the lion’s share of its action.

The Fund’s World Economic Outlook update pegged global growth at 3.7% for 2018 and 2019, down from 3.9% previously thanks to trade-war worries and rising economic tensions in the EM space. Growth is still relatively strong, the IMF said, but has plateaued at 3.7%. ‘as risks have start to materialize.’

The balance of those risks has shifted to the downside, it went on.

The Fund now thinks growth across EM economies will remain flat at 4.7% this year and next, whereas its previous forecast looked for gains of 4.9% this year and 5.1% in 2019.Developed economies fare better, but not much. The IMF left this year’s forecast alone at 2.4%, and downgraded its 2019 call by just 0.1 percentage points to 2.1%.

“Growth was revised down for Argentina, Brazil, Iran and Turkey, among other, reflecting county-specific factors, tighter financial conditions, geopolitical tensions and higher oil import bills,” the report said.

Forecasts for China, the US and Eurozone were all revised modestly lower and the IMF said that its modelling suggested that the imposition of all currently threatened US tariffs would cut global GDP growth by 0.8% in 2020.

Asia Pacific foreign exchange markets appeared to take this downbeat report very much in stride, with little movement seen after its release. The US Dollar had been meandering lower against the Japanese Yen through the Asian morning and this process continued after the IMF report crossed the wires.

IMF Downgrades Global Growth Call Citing 'Unsettled' Trade Picture

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