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
Mixed
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
Gold
Mixed
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
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
More View more
Real Time News
  • The non-farm payroll (NFP) figure is a key economic indicator for the United States economy. It is also referred to as the monthly market mover. Find out why it has been given this nickname here: https://t.co/yOUVEEqhc5 https://t.co/qtAmyhFU9A
  • Get your snapshot update of the of relative currency strength and exchange status from around the globe here: https://t.co/H19vRDCpUJ https://t.co/S74APOiQ3y
  • Two of the main Euro-pairs, $EURUSD and $EURGBP, are being driven by very different drivers. Get your market update from @nickcawley1 here: https://t.co/Vd32Y6HKEr https://t.co/Lgb5z5V1Xa
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here: https://t.co/e4CnobJCss https://t.co/9uPXNvDBS5
  • We ended this past week with another cliffhanger. The $SPX teeters on the edge of a breakdown from the post-pandemic recovery. While we have NFPs and other key data ahead, the markets are likely to remain fixated on yields. My outlook for next week: https://www.dailyfx.com/forex/video/daily_news_report/2021/02/27/SP-500-Dollar-Reversal-Hinge-Not-On-NFPs-but-Markets-Risk-Imagination.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/mlNDDyTgex
  • Make smart trading decisions with your free guide to trade the news. Download your free guide here.https://t.co/pb5E2KgRzW #DailyFXGuides https://t.co/70ZOJ0ZMwF
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here: https://t.co/rfwUWJfbz9 https://t.co/SyroornFf5
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here: https://t.co/ZNs4QhQGQ6 https://t.co/KrMcyZZqO7
  • The Reserve Bank of Australia (RBA) rate decision may spark a bullish reaction in $AUDUSD as the central bank is expected to retain the current course for monetary policy. Get your market update from @DavidJSong here: https://t.co/WbcR9ER0qT https://t.co/TynsqCtPQ6
  • Gold has broken below a critical support confluence we’ve been tracking for months now and the risk remains for further losses while below this threshold in the weeks ahead. Get your $XAUUSD market update from @MBForex here:https://t.co/xgN2obaIWR https://t.co/H71ufPNkPg
Risk Appetite Extends, Yen Down. ASX 200 Seeks Reversal. ECB Next

Risk Appetite Extends, Yen Down. ASX 200 Seeks Reversal. ECB Next

Daniel Dubrovsky, Strategist

Asia Pacific Market Wrap – Risk Trends, China, Soybeans, Japanese Yen, ASX 200

  • News of China agreeing to purchase 1.5-2M tons of soybean from US extends risk appetite
  • Asia Pacific stocks rise, Shanghai Composite outperforms the most as Japanese Yen declines
  • ASX 200 still a long way from a bullish reversal, all eyes on the ECB and European Council

Trade all the major global economic data live and interactive at the DailyFX Webinars. We’d love to have you along.

As anticipated, Asia Pacific benchmark stock indexes traded higher, continuing to capitalize on ebbing US China trade war fears. During Thursday’s session, reports crossed the wires that China is going to purchase around 1.5-2 million tons of US soybeans. This is one of the agreements Presidents Donald Trump and Xi Jinping talked about from last week’s G20 Leaders’ Summit, but had yet to establish a particular amount on.

Leading regional bourses higher was China as its Shanghai Composite Index rallied as much as 1.42%. Japanese ones were not too far behind with the Nikkei 225 about 1.06% higher. South Korea’s KOSPI rose roughly 0.75%. Meanwhile Australia’s ASX 200 did not fare as well as some of its counterparts, climbing only about 0.14% heading into Thursday’s close.

Taking a look at currencies, the anti-risk Japanese Yen weakened across the board as traders likely built up carry trade positions. This allowed for gains in the pro-risk Australian and New Zealand Dollars which are frequent targets in carry trades thanks to their relatively high yield. In addition, NZD/USD largely brushed aside weaker GDP estimates from New Zealand’s Treasury with the focus being on sentiment.

Ahead, all eyes will be on the ECB monetary policy announcement and the first day of the European Council meeting. The former is anticipated to end its asset purchase programme, leaving Euro and European equity traders wondering what is in store for 2019. The latter will be covering prominent political issues such as Brexit, Italian and now French budget concerns. High volatility is anticipated.

ASX 200 Technical Analysis

On the daily chart, the ASX 200 is attempting a push higher following the presence of positive RSI divergence. This signals fading downside momentum and can at times precede a turn higher. For the index to reverse its dominant downtrend since late August, a descending resistance line from November must be cleared first. Even then, the falling trend line from late August needs to be overturned thereafter.

ASX 200 Daily Chart

Risk Appetite Extends, Yen Down. ASX 200 Seeks Reversal. ECB Next

Chart created in TradingView

FX Trading Resources

--- Written by Daniel Dubrovsky, Junior Currency Analyst for DailyFX.com

To contact Daniel, use the comments section below or @ddubrovskyFX on Twitter

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

DISCLOSURES