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
Bullish
Wall Street
Bearish
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Silver: 1.40% Gold: 1.08% Oil - US Crude: 1.05% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/4ZigI6JULT
  • Heads Up:🇺🇸 NAHB Housing Market Index (JAN) due at 15:00 GMT (15min) Expected: 86 Previous: 86 https://www.dailyfx.com/economic-calendar#2021-01-20
  • Heads Up:🇨🇦 BoC Monetary Policy Report due at 15:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-01-20
  • Heads Up:🇨🇦 BoC Interest Rate Decision due at 15:00 GMT (15min) Expected: 0.25% Previous: 0.25% https://www.dailyfx.com/economic-calendar#2021-01-20
  • $EURGBP dropped from 0.8890 to below 0.8860 this morning, pushing to its lowest level since May. $EUR $GBP https://t.co/5TotJhsKzT
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.74% US 500: 0.66% France 40: 0.47% Wall Street: 0.36% FTSE 100: 0.26% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/NvjQjChgXS
  • The @bankofcanada is widely expected to stand pat on monetary policy with the overnight rate to remain at 0.25% alongside no change in the current pace (CAD 4bn/week) or composition of QE purchase. Get your market update from @JMcQueenFX here:https://t.co/gK5wVUwxlG https://t.co/YbME7aXeeM
  • Reports of an explosion heard in Madrid - La Sexta TV Station
  • #Gold dropped quickly this morning, falling from $1,850 to below $1,835 before bouncing back. The precious metal is now trading around $1,850 again. $XAU $GLD https://t.co/gAs3ytl9g2
  • $EURGBP at risk of extended losses after breaking to the downside of a 12-month Symmetrical Triangle pattern and slashing through the support range at 0.8865 - 0.8875 A push towards 0.8670 - 0.8690 looks on the cards if sellers hurdle psychological support at 0.8800 $EUR $GBP https://t.co/zS9CyhUqMf
USD Gains Awakens Currency Volatility, EUR and GBP Pressured  - US Market Open

USD Gains Awakens Currency Volatility, EUR and GBP Pressured - US Market Open

Justin McQueen, Analyst

MARKET DEVELOPMENT – USD Gains Awaken Currency Volatility

DailyFX Q2 2019 FX Trading Forecasts

USD: The US Dollar has continued to go on from strength to strength at the detriment to its major counterparts, with the exception of the Japanese Yen. In turn, the Euro has edged towards 1.11 with a break below raising the risk of a 1.10 handle, while the Pound is now trading at its lowest level in 10-weeks. With the greenback breaking above the 61.8% Fibonacci situated at 98.03, eyes are now on for a test of 98.50. Alongside this, the breakout in the USD index has awakened FX volatility, which has lifted from the multi-year lows. (Full volatility article, here).

TRY: The Turkish Lira back on the defensive following the Turkish Central Bank monetary policy decision, in which they had omitted their pledge that further tightening is needed from the monetary policy statement. Consequently, this raises questions as to whether the central bank will keep high interest rates in order to combat inflation, as such, USDTRY rose to session highs with the 6.00 handle firmly in sight.

SEK: The Riksbank provided a much more dovish message than the markets had expected, which in turn saw EURSEK catapult higher and is track for its biggest intra-day gains since October 2016. The central bank had lowered its repo-rate path, having noted that the rate will remain at current levels for a longer period of time than assumed in February.The main focal point behind the decision had been due to the soft inflation prospects with the Riksbank highlighting that inflationary pressures have been weaker than expected and is now seen to be lower over the next few years. As such, the Riksbank’s view that the repo rate is expected to be raised again towards the year-end or beginning of next year looks to be somewhat hopeful.

USD Gains Awakens Currency Volatility, EUR and GBP Pressured  - US Market Open

Source: Thomson Reuters, DailyFX

DailyFX Economic Calendar: – North American Releases

USD Gains Awakens Currency Volatility, EUR and GBP Pressured  - US Market Open

IG Client Sentiment

USD Gains Awakens Currency Volatility, EUR and GBP Pressured  - US Market Open

How to use IG Client Sentiment to Improve Your Trading

WHAT’S DRIVING MARKETS TODAY

  1. Will the US Dollar Breakout Last? A Glance at EURUSD, GBPUSD & USDJPY Charts” by Paul Robinson, Currency Strategist
  2. Brexit Latest: PM May Survives; GBPUSD Hits a 10-Week Low” by Nick Cawley, Market Analyst
  3. Currency Volatility: Euro Volatility Reignited, Deeper Losses on the Horizon” by Justin McQueen, Market Analyst
  4. Gold Price Outlook: Stabilizing After Hitting 2019 Low” 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 Justin.mcqueen@ig.com

Follow Justin on Twitter @JMcQueenFX

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

DISCLOSURES