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
Mixed
Oil - US Crude
Bearish
Wall Street
Mixed
Gold
Mixed
GBP/USD
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • ...but before you write off H&S patterns because more have fallen apart rather than catalyzed lately, consider the monthly chart of $AUDUSD as well. That 0.8000-0.7925 zone is no joke as its historical midpoint, trendine and other technical points confluence https://t.co/dB6edmmA1d
  • While there are other Dollar pairs getting more attention lately, I think $AUDUSD deserve a spot in the rotation. It's currently working out whether it is going to abide 2021's range as a consolidation reversal risk (H&S pattern)... https://t.co/M7dG0a8Isw
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Gold: 0.31% Oil - US Crude: -0.18% Silver: -0.50% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/AS3CtSNbr4
  • Fed's Evans: - Tepid April jobs report was a 'head scratcher' - Welcomes wage growth as sign of a healthy jobs market - Fed has room to overshoot inflation target - 'It will be a while' before US has made enough progress to talk about tapering
  • US 10-Year Treasury yield extending to session highs and steering the Nasdaq to new lows of the day $NDX $QQQ $NQ_F https://t.co/ReXcLVpGy8
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 88.77%, while traders in Wall Street are at opposite extremes with 78.12%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/wI1kMvJkwU
  • The price of gold extends the series of higher highs and lows from the previous week even though the 10-Year US Treasury yield retraces the decline following the US Non-Farm Payrolls (NFP) report. Get your $XAUUSD market update from @DavidJSong here:https://t.co/kyW7ukihdY https://t.co/keRXgNxmyp
  • Fed's Evans: - Very optimistic US will get back to strong job numbers - Still expects unemployment to fall below 5% this year $USD $DXY $TNX
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.67% US 500: -0.15% France 40: -0.18% Germany 30: -0.20% FTSE 100: -0.27% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/f9gTcPN7Ev
  • EUR/USD holding proven support level. Pullback may be over, but hurdles yet to cross. Get your $EURUSD market update from @PaulRobinsonFX here: https://t.co/o6LAHTn29c
JPY Dominates on Trade War Update, GBP Eyes Critical Support - US Market Open

JPY Dominates on Trade War Update, GBP Eyes Critical Support - US Market Open

Justin McQueen, Analyst

MARKET DEVELOPMENT – JPY Dominates, GBP Eyes Key Support, China Signal Zero Chance of Trade Deal Tomorrow

DailyFX Q2 2019 FX Trading Forecasts

JPY/CHF: Safe-haven flows have dominated FX markets with the CHF and JPY the major beneficiaries, most notably the latter rose to a 3-month high against the greenback after making a push through 109.70 (full st. Given the fact that speculators remain heavily short the Japanese Yen (full story), an increase in the tensions between the US and China are likely to keep the risks to the upside for the JPY amid room for further short covering. On the trade war front, the Chief Editor of the Global Times stated that possibility of a trade deal by Friday is zero, which in turn raises questions as to whether negotiations will continue after this week if Trump hikes tariffs on $200bln worth of Chinese goods.

GBP: The Pound has dropped for the 4th consecutive session as the Labour Leader Jeremy Corbyn continued to poor cold water on the possibility of a cross-party agreement, in which the Labour Leader noted that discussions had been difficult, adding that the government needs to shift from its red lines. Consequently, GBPUSD is below the 1.30 handle with focus on the 200DMA situated at 1.2957.

NOK: The Norges Bank continues to be a hawkish outlier with the central bank confirming that they will most likely raise interest rates in June. In reaction to this statement, both EURNOK and USDNOK edged lower, however, gains in the NOK had been short-lived with the currency paring the bulk of the move as focus remains on the external factors regarding trade war concerns and falling oil prices. (Full story)

JPY Dominates on Trade War Update, GBP Eyes Critical Support - US Market Open

Source: Thomson Reuters, DailyFX

DailyFX Economic Calendar: – North American Releases

JPY Dominates on Trade War Update, GBP Eyes Critical Support - US Market Open

IG Client Sentiment

JPY Dominates on Trade War Update, GBP Eyes Critical Support - US Market Open

How to use IG Client Sentiment to Improve Your Trading

WHAT’S DRIVING MARKETS TODAY

  1. DailyFX Poll: Corbyn Could be Best Successor to PM May for GBP” by Martin Essex, MSTA , Analyst and Editor
  2. VIX Curve Inversion: A Bad Omen For the S&P 500” by Justin McQueen, Market Analyst
  3. Japanese Yen Winning the Safe Haven Battle vs USD and Gold” by Justin McQueen, Market Analyst
  4. US-China Trade Talk Worries Lift Havens, Gold and JPY Strengthen” 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