Never miss a story from Justin McQueen

Subscribe to receive daily updates on publications
Please enter valid First Name
Please fill out this field.
Please enter valid Last Name
Please fill out this field.
Please enter valid email
Please fill out this field.
Please select a country

I’d like to receive information from DailyFX and IG about trading opportunities and their products and services via email.

Please fill out this field.

Your Forecast Is Headed to Your Inbox

But don't just read our analysis - put it to the rest. Your forecast comes with a free demo account from our provider, IG, so you can try out trading with zero risk.

Your demo is preloaded with £10,000 virtual funds, which you can use to trade over 10,000 live global markets.

We'll email you login details shortly.

Learn More about Your Demo

You are subscribed to Justin McQueen

You can manage your subscriptions by following the link in the footer of each email you will receive

An error occurred submitting your form.
Please try again later.

MARKET DEVELOPMENT – USD Dips, Oil Plunges, AUD & NZD Outperform, Trade War Deal Nears

Crude Oil: Brent and WTI crude futures fell over 2% after Trump stated that oil prices were getting too high and calling on for OPEC to relax. Brent now crude sub $66/bbl, having traded at 3-month highs. Consequently, oil exporters have seen a slight pullback against oil importers (Click here).

AUD / NZD: Both the Aussie and Kiwi gained on the back of comments by President Trump, in which he stated that he would delay the planned tariff increase on Chinese imports (Deadline March 1st) and that he will be looking to have summit with President Xi once an agreement can be reached. Consequently, antipodeans are outperforming across the board with AUD and NZD hitting highs of 0.7180 and 0.6900 respectively.

USD: The USD is softer across the board with the exception of the safe-haven JPY as an end to the US-China trade war looks to be drawing closer. Elsewhere, eyes will be on Fed Chair Powell, who is likely to reiterate patience with regard to rate rises.

USD Dips, Oil Plunges, AUD & NZD Outperform, Trade War Deal Nears  - US Market Open

DailyFX Economic Calendar: – North American Releases

USD Dips, Oil Plunges, AUD & NZD Outperform, Trade War Deal Nears  - US Market Open

IG Client Sentiment

USD Dips, Oil Plunges, AUD & NZD Outperform, Trade War Deal Nears  - US Market Open

How to use IG Client Sentiment to Improve Your Trading

Four Things Traders are Reading

  1. Crude Oil Drops After Trump Warns OPEC Again on High Oil Prices” by Justin McQueen, Market Analyst
  2. Sterling (GBP): Brexit Vote Delayed, Can Kicked Again” by Nick Cawley, Market Analyst
  3. S&P 500, Dow, and Nasdaq 100 Charts: Could Be an Important Week” by Paul Robinson, Market Analyst
  4. AUDUSD & NZDUSD Lifted on Trade War Relief as Trump Offers Deadline Extension” by Justin McQueen, Market Analyst

--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at Justin.mcqueen@ig.com

Follow Justin on Twitter @JMcQueenFX