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
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
Bearish
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
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • Central banks often deem it necessary to intervene in the foreign exchange market to protect the value of their national currency. Learn how central bank intervention can impact your trading here: https://t.co/8G8mUX4so6 https://t.co/KG9k8BnyD6
  • Gold Price Forecast: Long-Term Yields May Keep XAU/USD on the Backfoot - https://t.co/YV1gkiTPrq #GOLD $GLD $XAUUSD https://t.co/oT1lIcChN6
  • 🇳🇱 Inflation Rate YoY (FEB) Actual: 1.8% Previous: 1.6% https://www.dailyfx.com/economic-calendar#2021-03-04
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.03%, while traders in Germany 30 are at opposite extremes with 69.08%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/rHzkW4zqv7
  • Dealing with the fear of missing out – or FOMO – is a highly valuable skill for traders. Not only can FOMO have a negative emotional impact, it can cloud judgment and overshadow logic. Learn how you can control FOMO in your trading here: https://t.co/lgDf5cVYOn https://t.co/kIGn36WXO2
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.28% 🇳🇿NZD: 0.09% 🇨🇭CHF: 0.07% 🇨🇦CAD: 0.02% 🇯🇵JPY: -0.03% 🇪🇺EUR: -0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/d2JGjMhNQn
  • Heads Up:🇳🇱 Inflation Rate YoY (FEB) due at 05:30 GMT (15min) Previous: 1.6% https://www.dailyfx.com/economic-calendar#2021-03-04
  • Indices Update: As of 05:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.33% US 500: -0.54% FTSE 100: -0.54% France 40: -0.67% Germany 30: -0.81% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/WVmqPR5R29
  • Risk trends are on the lam again with Nasdaq 100 threatening to usher the reversal, but I remain skeptical that fire will catch. Meanwhile, global 10yr yields are rising again, pulling gold down. Watch I'm watching: https://www.dailyfx.com/forex/video/daily_news_report/2021/03/04/Nasdaq-Breakdown-Raises-Risk-Trend-Questions-Yields-Push-Dollar-and-Gold.html https://t.co/2RFnWOaXa4
  • 🇯🇵 Consumer Confidence (FEB) Actual: 33.8 Previous: 29.6 https://www.dailyfx.com/economic-calendar#2021-03-04
Asia Stocks Extend Rise, GBP/USD and FTSE 100 Eye Brexit Deal Vote

Asia Stocks Extend Rise, GBP/USD and FTSE 100 Eye Brexit Deal Vote

Daniel Dubrovsky, Strategist

Asia Pacific Markets Wrap Talking Points

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

Sentiment-supportive fundamental developments led Asia Pacific benchmark stock indexes higher despite technical cues of a bearish reversal in global equities. In the prior Wall Street trading session, the S&P 500 soared following upbeat US retail sales data. Then, just before APAC stocks began trading on Tuesday, the markets welcomed Theresa May’s now-revised Brexit deal ahead of a critical vote in Parliament.

Japan’s Nikkei 225 was one of the best-performing indexes, rallying over two percent heading into the afternoon close. It is now on pace for its most impressive week since mid-February. Meanwhile, China’s state-run agency Xinhua, reported that arrangements are being made towards the next step of trade talks with the US. China’s Shanghai Composite was up over 1.6% while Australia’s ASX 200 climbed about 0.3%.

Taking a look at the major currencies, the British Pound held on to most of its gains on the Brexit developments. But a clear technical break to the upside in GBP/USD was understandably lacking given critical event risk to come. The anti-risk Japanese Yen underperformed as risk appetite likely fueled interest in carry trades. But, the pro-risk Australian Dollar was relatively neutral thanks to soft business confidence.

Arguably, the top-tier event that carries broad implications for financial markets across the world is the vote in UK Parliament on Theresa May’s revised Brexit deal later on Tuesday. The risks for Sterling are arguably now tilted to the downside, as it now has more room to trim gains should May’s divorce agreement fail to muster enough votes. The same could also be said for equities.

FTSE 100 Technical Analysis

The FTSE 100 has been consolidating under a resistance range between 7227 and 7267. This area acted as former support back in September. Current support seems to be a boundary between 7071 and 7041. Whichever the outcome of Tuesday’s Brexit deal vote, said fundamental backdrop may inspire a break and we shall see if it will be uptrend continuation, or topping.

FTSE 100 Daily Chart

Asia Stocks Extend Rise, GBP/USD and FTSE 100 Eye Brexit Deal Vote

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