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.

Free Trading Guides
EUR/USD
Bullish
GBP/USD
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
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
Gold
Mixed
Oil - US Crude
Mixed
Bitcoin
Bullish
More View more
Real Time News
  • RT @FT: Huawei admits that US sanctions are hurting https://t.co/GIT4XSfszx
  • RT @WSJecon: Mexico’s inflation eased in September, coming in line with the Bank of Mexico’s 3% target for the first time in three years ht…
  • My phone's decided to give up the ghost and I've been phoneless for 24 hours. Not coincidentally, I've been a machine tackling errands around the house. What a time to be alive.
  • #Gold remains stuck in a range as a range of conflicting forces battle and fail to take control of price action. Get your $gld market update from @nickcawley1 here: https://t.co/pw7UjkUyqH $XAUUSD https://t.co/YD8L6knjhe
  • Geopolitical developments send oil prices soaring or falling. Get your market update here: https://t.co/0znHZPvPON https://t.co/s358dvMBeR
  • Currency markets may be battered by breakneck volatility if a slowdown in global economic growth triggers a collapse in the fragile market for collateralized loan obligations (CLOs). Get your market update from @ZabelinDimitri here:https://t.co/KfjjtaXs7b https://t.co/sWeSlv33pb
  • The #Dow Jones and #Nasdaq 100 will await key earnings from some of the world’s largest manufacturers and tech companies while the #DAX grapples with freshly-imposed tariffs. Get your equities market update from @PeterHanksFX Here: https://t.co/u2lG19JFt3 https://t.co/OHs4rQEH7T
  • Crude #oil prices are consolidating above a key support zone we’ve been tracking for more-than three months now. Get your market update from @MBForex here: https://t.co/XaACvEpLG4 #OOTT https://t.co/XjmjUt4Par
  • Why trade with Bollinger Bands®? Find out as a day trader, how you can use it to your advantage:https://t.co/dwODDDSsFi @WVenketas https://t.co/SYduJ5k9mL
  • As the global economy continues to contract, the risk of geopolitical threats undermining financial and economic stability are rising, leaving the door open to violent volatility. Get your market update from @ZabelinDimitri here:https://t.co/2HEzqPobvA https://t.co/k13SwJmbRm
EURUSD Dips on Dovish Draghi, GBPUSD Eyes Brexit Summit, AUDUSD Buoyed - US Market Open

EURUSD Dips on Dovish Draghi, GBPUSD Eyes Brexit Summit, AUDUSD Buoyed - US Market Open

2019-04-10 13:30:00
Justin McQueen, Analyst
Share:

MARKET DEVELOPMENT –EURUSD Dipson Dovish Draghi, GBP Eyes Brexit Summit, AUD Buoyed

EUR: The Euro dipped to session lows as Draghi reiterated his dovish stance. The ECB President continued to state growth risks remain tilted to the downside, while also highlighting that headline inflation could dip in the coming months. Little in the way of fresh dovish signals as Draghi stated that the details of TLTROs and a tiered deposit rate had not been discussed at today’s meeting. In light of the drop in the Euro, the US Dollar consequently reclaimed the 97.00. US inflation provided a mixed signal with headline inflation rising above forecasts (largely energy driven), while core inflation slipped below analyst expectations. Eyes now on the FOMC minutes.

GBP: The Pound failed to maintain a foothold above the 1.31 handle, despite this morning’s encouraging data out of the UK inflation GDP growth surprised to the upside. However, with focus on today’s EU summit, in which the UK are looking for a Brexit extension, UK politics will continue to dictate the Pound. Of note, GBP O/n vols imply a move of 96pips (Full report here).

AUD: The Australian Dollar had been buoyed by positive commentary from RBA’s Debelle in which the rate setter highlighted that the labour had been surprisingly strong, thus disappointing many looking for dovish signals. Alongside this, data out of Australia continued to improve with consumer confidence picking up after last month’s dismal reading.

EURUSD Dips on Dovish Draghi, GBPUSD Eyes Brexit Summit, AUDUSD Buoyed - US Market Open

Source: Thomson Reuters, DailyFX

DailyFX Economic Calendar: – North American Releases

EURUSD Dips on Dovish Draghi, GBPUSD Eyes Brexit Summit, AUDUSD Buoyed - US Market Open

IG Client Sentiment

EURUSD Dips on Dovish Draghi, GBPUSD Eyes Brexit Summit, AUDUSD Buoyed - US Market Open

How to use IG Client Sentiment to Improve Your Trading

WHAT’S DRIVING MARKETS TODAY

  1. EURUSD Price Outlook: Primed for ECB, FOMC & Brexit Triple-Header” by Nick Cawley, Market Analyst
  2. EURUSD Price Edging Higher, ECB Leaves Monetary Settings Unchanged” by Martin Essex, MSTA , Analyst and Editor
  3. Currency Volatility: GBPUSD Volatility Surges Amid Emergency EU Summit” by Justin McQueen, Market Analyst
  4. Crude Oil at Big Spot on Chart; Technical Outlook for Gold Price, Dow & More” by Paul Robinson, Market Analyst
  5. Using FX To Effectively Trade Global Market Themes at IG” by Tyler Yell, CMT , Forex Trading Instructor

--- Written by Justin McQueen, Market Analyst

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

Follow Justin on Twitter @JMcQueenFX

https://www.dailyfx.com/forex/video/live_events/2019/04/10/Crude-Oil-at-Big-Spot-on-Chart-Technical-Outlook-for-Gold-Price-Dow-More-PRtech.html?ref-author=McQueen

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

DISCLOSURES

News & Analysis at your fingertips.