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
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
Wall Street
Bearish
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
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.07% France 40: -0.03% US 500: -0.08% Wall Street: -0.18% Germany 30: -0.29% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/AtAkvOy4A2
  • Heads Up:🇮🇱 GDP Growth Rate QoQ 2nd Est (Q1) due at 10:00 GMT (15min) Previous: 1.5% https://www.dailyfx.com/economic-calendar#2021-06-16
  • Becoming a forex trader means living and breathing the excitement, risk and reward of trading in the biggest and most liquid market in the world. Do you have what it takes? Read here to discover the qualities and processes it takes to build consistency: https://t.co/EfWEACQ6Cz https://t.co/xN2vP1PPmd
  • ECB's De Guindos says it is important to withdraw stimulus gradually but without exaggerating $EUR
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfJhp91 https://t.co/VDnn2bxfjD
  • IG Client Sentiment Update: Our data shows the vast majority of traders in USD/CHF are long at 75.66%, while traders in France 40 are at opposite extremes with 80.85%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/6HUk3bQSWf
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.51% Silver: 0.41% Gold: 0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/azFkkb8xyo
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/9S5tXIs3SX https://t.co/d4NaJvgweB
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.33% 🇬🇧GBP: 0.22% 🇦🇺AUD: 0.15% 🇨🇦CAD: 0.08% 🇨🇭CHF: -0.02% 🇪🇺EUR: -0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/jceRBGUO6d
  • 🇨🇳 Unemployment Rate (MAY) Actual: 5.2% Previous: 5.1% https://www.dailyfx.com/economic-calendar#2021-06-16
Stocks Eye Powell Testimony, Technical Signs Hint S&P 500 May Top

Stocks Eye Powell Testimony, Technical Signs Hint S&P 500 May Top

Daniel Dubrovsky, Strategist

Asia Pacific Markets Wrap Talking Points

  • Upside momentum on US-China trade news dissipates as Asia stocks fall
  • Will Fed Chair Jerome Powell offer sigh of relief if stocks aim lower next?
  • Technical warning signs hint that the S&P 500 could turn around ahead

Find out what retail traders’ equities buy and sell decisions say about the coming price trend!

Asia Pacific benchmark stock indexes generally traded lower in the aftermath of supposedly supportive fundamental news. On Monday, US President Donald Trump said that the planned tariff hike on around $200b in Chinese import tariffs would be postponed. This update helped most global equities rise over the past 24 hours, but upside momentum quickly fell apart.

Japan’s Nikkei 225 and South Korea’s KOSPI both declined about 0.4% heading into the close. Meanwhile, Australia’s ASX 200 was on pace for its worst performance since the beginning of this month, falling over one percent. Chinese indexes saw the best performance with the Shanghai Composite gaining around 0.9%.

Taking a look at currencies, the anti-risk Japanese Yen aimed higher alongside the similarly-behaving Swiss Franc. On the flip side of the spectrum, the sentiment-oriented Australian and New Zealand Dollars cautiously weakened. The latest Brexit news, as UK Prime Minister Theresa May is mulling delaying it, kept the British Pound afloat.

Over the remainder of the day, Fed Chair Jerome Powell is set to testify before Congress. Recently, certainty around the possibility that the central bank could halt a runoff in its balance sheet boosted optimism in the markets. If Mr Powell reiterates the support for this, as opposed to the uncertainty around the path for rates, this may offer a sigh of relief for stocks if they tread lower ahead. S&P 500 futures are pointing to the downside.

S&P 500 Futures Technical Analysis

After failing to push into resistance (2824.25 – 2814.00), S&P 500 futures formed a shooting star candlestick on the daily chart below. This is a sign of indecision that can at times, precede a turn lower. This might be the case given the presence of negative RSI divergence which shows fading upside momentum. Near-term support is a rising trend line from earlier this year.

S&P 500 Futures Daily Chart

Stocks Eye Powell Testimony, Technical Signs Hint S&P 500 May Top

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