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
Wall Street
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
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
More View more
Real Time News
  • A stellar retail sales report takes the USD to fresh session highs and raises the probability of a more hawkish Fed at next week’s meeting. Get your market update from @JMcQueenFX here:https://t.co/upf3QgIuty https://t.co/SZaPbW5W4r
  • WTI Crude rebounds from intraday slide, turns positive for the session $CL_F #WTI #Oil https://t.co/XYgiTfcX27
  • #Oil Price Outlook: #Crude Breakout Eyes August Highs- $WTI Technicals - $USOil - https://t.co/i8YnZeqEx8 https://t.co/Yu5ySZ1cQb
  • While Gold's -2% slide is turning heads, Silver is taking an even more significant -4% hit - its biggest drop in three months. That said, 22.50 is not a support level to be taken lightly for $XAGUSD https://t.co/ZXbGJElXf6
  • RT @BrendanFaganFx: 74 counterparties take $1.147 trillion at Fed's fixed-rate reverse repo $USD $DXY https://t.co/9ouJNl8oYL
  • AUD/USD attempting to retrace some of its losses following this morning's US retail sales print $AUDUSD https://t.co/yWFEeszHtP
  • The US Dollar has spiked up to a fresh September high this morning on the back of a really strong retail sales report out of the US. Get your market update from @JStanleyFX here:https://t.co/Ve6TuQrMSS https://t.co/qx8BjQdn2Z
  • US Dollar Price Action Setups: EUR/USD, GBP/USD, AUD/USD https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2021/09/16/US-Dollar-Price-Action-Setups-EUR-USD-EURUSD-GBP-USD-GBPUSD-AUD-USD-AUDUSD.html https://t.co/w262MKMg5c
  • Goldman Sachs upgrades Q3 GDP forecast to 4.5% from 3.5%
  • I will note that despite AMC announcing they would soon be accepting additional cryptocurrencies (including Litecoin) for purchases, $LTCUSD didn't even exhibit a fraction of its response to the fake Walmart news. Market learning its lesson or AMC seen as irrelevant? #Kodakmoment
President Trump Ponders Auto Tariffs Amid 600 Point Dow Decline

President Trump Ponders Auto Tariffs Amid 600 Point Dow Decline

Peter Hanks, Strategist

Talking Points:

  • Dow, S&P 500, Nasdaq all posted significant declines as tech weakness continues and trade wars threaten
  • Reports circulated that President Trump plans to meet with his trade team to discuss potential EU auto tariffs which would amount to a significant escalation in the US-EU trade war
  • The reports come a day after other outlets claim President Trump sees the threat of auto tariffs as a ‘successful negotiating tactic’

Dow Declines to Start the Week

The Dow Jones Industrial Average dove over 600 points on Monday as trade wars and tech weakness pressured markets. Trade concerns were heightened after Bloomberg reported that President Trump plans to meet with his trade team on Tuesday. Reportedly, the President wants to discuss a draft report on European auto tariffs. The announcement comes a day after Axios reported that President Trump sees the threat of auto tariffs as a “successful negotiating tactic.”

Dow Jones Price Chart Hourly, November 1st – November 12th (Chart 1)

Dow price chart trade war fears

Learn to day trade the Dow

The tariffs would signal a significant escalation in the US trade war with the European Union. After a meeting between European Commission President Jean-Claude Juncker and President Trump in July resulted in an effective truce between the two trading partners, the front has been quiet. The pause allowed the Trump administration to focus on the USMCA and the US-China trade war.

Learn to trade around real-time news updates with our Introduction to Forex News Trading guide.

Ford, General Motors, Fiat Chrysler Price Chart 3 – Minute, November 12th (Chart 2)

ford, gm, fiat price chart on auto tariff news

After the report, automakers Fiat Chrysler (FCAU), General Motors (GM) and Ford (F) plunged to intraday lows on fears of retaliation and reduced foreign purchases. Alongside the Dow, the other US indexes were similarly in the red. Apple (AAPL) contributed meaningful losses for the Nasdaq which saw the tech-heavy index close down -2.98%.

NASDAQ Price Chart Hourly, November 1st – November 12th (Chart 3)

Nasdaq price chart on apple decline and auto tariffs

Learn to trade the Nasdaq

Equities will now look for follow-up reports on the talks and other information regarding trade wars to drive price action. Due to the release time of the report, the immediate market reaction may have been somewhat controlled. Markets will likely weigh the threat and potential ramifications more thoroughly overnight which could prove bearish for equities tomorrow.

--Written by Peter Hanks, Junior Analyst for DailyFX.com

Contact and follow Peter on Twitter @PeterHanksFX

Read more: FX Week Ahead: Q3’18 Japanese GDP, October UK & US CPI, Aussie Jobs

DailyFX forecasts on a variety of currencies such as the US Dollar or the Euro are available from the DailyFX Trading Guides page. If you’re looking to improve your trading approach, check out Traits of Successful Traders. And if you’re looking for an introductory primer to the Forex market, check out our New to FX Guide.

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

DISCLOSURES