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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Oil - US Crude
Wall Street
More View more
Real Time News
  • The AB=CD pattern is simple once you know how to spot it and draw the proper Fibonacci retracements. Make your trading strategy as simple as ABCD here:
  • BoE’s Tenreyro says evidence on negative rates are “encouraging” Meanwhile, STOXX Europe Banks Index resides at all time lows
  • What is the outlook for financial markets ahead of the first presidential debate and how are Democratic nominee Joe Biden and President Donald Trump doing in the polls? Find out from @ZabelinDimitri here:
  • Anti-fiat #gold prices suffered the worst week since August as the US Dollar gained ground. Will losses extend? All eyes turn to fiscal stimulus hopes and non-farm payrolls data. Get your #metals update from @ddubrovskyFX here:
  • The US Dollar could gain as it forms bullish technical formations against the Singapore Dollar and Malaysian Ringgit. USD/PHP may have bottomed, will USD/IDR rise next? Find out from @ddubrovskyFX here:
  • What is seasonal change in volatility. Are we going through one right now? Find out:
  • The US Dollar will be bracing for a cascade of political risks including the first presidential debate, ongoing stimulus talks, the Supreme Court vacancy against the backdrop of key employment data. Get your #currencies update from @ZabelinDimitri here:
  • The Indian Rupee may be at risk to the US Dollar as USD/INR attempts to refocus to the upside. This is as the Nifty 50, India’s benchmark stock index, could fall further. Get your $USDINR market update from @ddubrovskyFX here:
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out:
  • Weakness in equity markets continued last week as losses built and technical patterns hint further bearishness might be ahead. Get your #equities update from @PeterHanksFX here:
USD Back on the Throne, EUR Drops, GBP Bounces Off Support - US Market Open

USD Back on the Throne, EUR Drops, GBP Bounces Off Support - US Market Open

2019-04-18 12:30:00
Justin McQueen, Analyst

MARKET DEVELOPMENT – USD Back on the Throne, EUR Drops, GBP Bounces Off Support

EUR: A reality check for the Euro, which came back under pressure after Eurozone PMI’s (Mfg. in particular) fell short of estimates. In reaction the Euro drop to lows of 1.1250, which in turn keeps the currency within its recent range. The apparent green shoots from Asia have yet to stem through into the Euro-Area, thus keeping EURUSD offered.

AUD: Main highlight overnight had been the Australian jobs report, which to the RBA’s delight, provided a set of robust figures. Consequently, AUDUSD drifted higher, however, yet again the 0.7200 capped further upside, which in turn saw the pair drift back towards 0.7150.

GBP: Despite better than expected retail sales across the board, the initial bid in GBP was subsequently pared amid the broad strength in the USD index. 1.3000 area continues to keep GBPUSD supported and thus confine the pair to a relatively tight range.

USD Back on the Throne, EUR Drops, GBP Bounces Off Support - US Market Open

Source: Thomson Reuters, DailyFX

DailyFX Economic Calendar: – North American Releases

USD Back on the Throne, EUR Drops, GBP Bounces Off Support - US Market Open

IG Client Sentiment

USD Back on the Throne, EUR Drops, GBP Bounces Off Support - US Market Open

How to use IG Client Sentiment to Improve Your Trading


  1. Charts in Focus – EURUSD Bear-flag, GBPUSD Wedge” by Paul Robinson, Currency Strategist
  2. US Dollar Grabs a Bid, EURUSD Price Cracks After Subdued PMI Data” by Nick Cawley, Market Analyst
  3. NZDUSD, AUDUSD, Crude Oil Technical Setups for Next Week” by Justin McQueen, Market Analyst
  4. EURUSD Outlook: Strength Ebbs as PMIs Point to Flat Eurozone Economy” by Martin Essex, MSTA , Analyst and Editor
  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

Follow Justin on Twitter @JMcQueenFX

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