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
  • Join @DanielGMoss's #Webinar at 10:00 PM ET/2:00 AM GMT for his weekly coverage of trading prep for $AUDUSD in the week ahead. Register here:
  • $AUDUSD dipping in morning APAC trade following a speech from #RBA Governor Guy Debelle He mentioned that an option possibly being considered for other policy prescriptions is to buy bonds 'further out along the curve' (relatively dovish)
  • RBA's Debelle: 'Mixed' empirical evidence on negative rates, TFF increase is substantial easing of monetary policy -BBG #RBA $AUDUSD
  • RBA's Debelle: Lower #AUD would benefit economy, watching closely. FX intervention not effective in current circumstance -BBG $AUDUSD #RBA
  • RBA Deputy Governor Debelle: Reducing yield target, TFF rate possible policy option. RBA continues to assess other policy options -BBG
  • An economic calendar is a resource that allows traders to learn about important economic information scheduled to be released. Stay up to date on the most important global economic data here:
  • Heads Up:🇦🇺 RBA Debelle Speech due at 00:30 GMT (15min)
  • Top Chart: Haven US Dollar seen struggling vs #ASEAN currencies (SGD, IDR, PHP, MYR) despite risk aversion Bottom: Despite heavy US risk aversion #SP500, capital still flows into #EmergingMarkets, perhaps keeping these currencies afloat Stay tuned for my next ASEAN fundy!
  • The Nikkei 225 fell beneath 23,000 as it moves to the midpoint of its rising channel. Get your #Nikkei market update from @PeterHanksFX here:
  • As promised⬇️ "#SP500 Teeters on Precipice as Trump Trails Biden in Swing States"
EURUSD Gains Limited on ECB Sources, GBPUSD Finds Support - US Market Open

EURUSD Gains Limited on ECB Sources, GBPUSD Finds Support - US Market Open

2019-07-02 13:10:00
Justin McQueen, Analyst

MARKET DEVELOPMENT –AUD Eyes 0.70, GBPUSD Drops, EURUSD Gains Limited as ECB Signal

DailyFX 2019 FX Trading Forecasts

AUD: Overnight, the RBA lowered interest rates for a second consecutive month to a record low 1%. This had largely been in line with expectations as money markets attached an 80% likelihood of this taking place. In reaction to the decision, the move lower in AUD had been pared immediately with currency ultimately edging higher following the release. While the RBA Governor had highlighted that they stand ready to adjust monetary policy if needed, the central bank may well wait and see how the prior cuts will impact before delivering another rate reduction.

GBP: The Pound is broadly weaker across the board, following another round of weak UK data. Construction PMI crashed to a 10yr low of 43.1 (Exp. 49.3%), marking a second consecutive move of contraction territory. This also follows yesterday’s weaker than expected manufacturing PMI and further confirming that the UK economy had possibly contracted in Q2. However, with that said, eyes will be on tomorrows services and as a reminder, the sector accounts for roughly 75% of the UK output. Risks to GBPUSD remain tilted to the downside, however supoort at 1.26 holds

EUR: A subdued session for the Euro so far, which has failed to consolidate above 1.13. There had been an initial blip higher in the Euro following ECB source reports that policymakers were in no rush to cut rates at the July meeting, however, it does confirm that they could use that meeting to signal that easing will be on the way, possibly at the September meeting. Elsewhere, the USTR has proposed $4bln in potential additional tariffs over EU aircraft subsides, which in turn has kept upside somewhat limited.

EURUSD Gains Limited on ECB Sources, GBPUSD Finds Support - US Market Open

Source: DailyFX, Thomson Reuters

IG Client Sentiment

EURUSD Gains Limited on ECB Sources, GBPUSD Finds Support - US Market Open

How to use IG Client Sentiment to Improve Your Trading


  1. GBPUSD Drops as UK Construction Sector Collapses, Fear of Q2 Contraction” by Daniela Sabin Hathorn , Junior Analyst
  2. Gold Prices Remain Bullish, Silver Prices May Begin to Outperform Gold” by Justin McQueen, Market Analyst
  3. Market Sentiment Helped by US-China Trade Truce | Webinar” by Martin Essex, MSTA , Analyst and Editor
  4. 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.