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
EUR/USD
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
Oil - US Crude
Bearish
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
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.42% 🇪🇺EUR: 0.09% 🇳🇿NZD: 0.08% 🇦🇺AUD: -0.04% 🇨🇭CHF: -0.10% 🇨🇦CAD: -0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/wFigkggpWQ
  • A macro forex trading guide exploring how to trade the Euro vs the Swedish Krona and Norwegian Krone through the prism of the Core-Perimeter model. Get your market update from @ZabelinDimitri here:https://t.co/n6zwlZJmGO https://t.co/Y79noqMYjd
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.32% Germany 30: 0.22% France 40: 0.10% US 500: -0.48% Wall Street: -0.57% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/QApJ84oHnR
  • Yesterday, USD/CHF declined to a near three- months low. Will today’s US PPI numbers at (13:30UK) boost the US dollar price? #USDCHF, #USeconomy, #USD https://t.co/iMm8NARYxe
  • UK 8-year Gilts on the cusp of turning negative..#gilts #sterling @DailyFXTeam https://t.co/ldXS2eYzJl
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here:https://t.co/vg7w10la3j https://t.co/8rwkKVigC4
  • South Africa's Eskom says the possibility that Eskom may be forced to implement loadshedding has increased as the power system is severely constrained $ZAR
  • 🇮🇹 Industrial Production MoM (MAY) Actual: 42.1% Expected: 22.8% Previous: -20.5% https://www.dailyfx.com/economic-calendar#2020-07-10
  • 🇮🇹 Industrial Production YoY (MAY) Actual: -20.3% Expected: -32.5% Previous: -43.4% https://www.dailyfx.com/economic-calendar#2020-07-10
  • 🇮🇹 Industrial Production MoM (MAY) Actual: 42.1 Expected: 22.8% Previous: -19.1% https://www.dailyfx.com/economic-calendar#2020-07-10
JPY Firm as Trump Signals Further Tariffs, ECB's Draghi Tempers EUR Gains - US Market Open

JPY Firm as Trump Signals Further Tariffs, ECB's Draghi Tempers EUR Gains - US Market Open

2019-06-06 13:30:00
Justin McQueen, Analyst
Share:

MARKET DEVELOPMENT – Draghi Tempers Euro Gains as Members Discussed Rate Cuts and QE Restart

DailyFX Q2 2019 FX Trading Forecasts

EUR: ECB pushed back rate guidance, while the announcement of TLTRO 3 details were more favourable than the markets had expected (full story), which in turn saw the Euro jump to session highs on the release. However, while EURUSD touched yesterday’s high at 1.1307, as the central bank upgraded its near-term growth and inflation forecasts, gains had been pared slightly as Draghi stated that some members had discussed rate cuts, QE restart and further extension to rate guidance. Alongside this, Draghi noted that it was not correct to assume that the ECB’s guidance is in reference to rate hikes and instead highlighting that there is room for lower interest rates.

JPY: Safe havens remain on the front foot amid the dip in equity markets as President Trump signals that he is considering extending tariffs to China on the remaining $300bln worth of goods. The President noted that he will make his decision after the G20 summit at the end of the month. USDJPY remains supported at 108 handle for now, while topside resistance sits at 108.50.

GBP: The Pound managed to push through the 1.27 handle amid the continued pullback in greenback once again. Alongside this, GBPUSD saw a brief spike to highs of 1.2720 after BoE Governor Carney stated that rates will need to be raised if the economy evolved as they expect. However, the move was short-lived given that the BoE are forced to remain on the side-lines amid the Brexit debacle, which is unlikely to be resolved in the near-term.

MXN: The Mexican Peso is on the backfoot across the EM complex after hopes of a trade agreement between the US and Mexico faded, while a sovereign rating downgraded by Fitch added to further losses in the currency.

JPY Firm as Trump Signals Further Tariffs, ECB's Draghi Tempers EUR Gains - US Market Open

Source: DailyFX, Thomson Reuters

IG Client Sentiment

JPY Firm as Trump Signals Further Tariffs, ECB's Draghi Tempers EUR Gains - US Market Open

How to use IG Client Sentiment to Improve Your Trading

WHAT’S DRIVING MARKETS TODAY

  1. Gold Price Eyes Bullish Consolidation, Silver Price Breaking Bear Sequence” by Nick Cawley, Market Analyst
  2. EURUSD Spikes Higher on ECB TLTRO Details” by Justin McQueen, Market Analyst
  3. 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

News & Analysis at your fingertips.