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
  • 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
  • GBP/USD continues its march higher as the pair breaks above 1.41 for the first time since February $GBPUSD https://t.co/UVswAJplrS
  • Heads Up:🇺🇸 Fed Evans Speech due at 18:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-05-10
OPEC Signals Bearish Crude Oil Outlook, GBP Corrects Higher - US Market Open

OPEC Signals Bearish Crude Oil Outlook, GBP Corrects Higher - US Market Open

Justin McQueen, Analyst

MARKET DEVELOPMENT – OPEC Highlights Bearish Crude Oil Outlook, Euro Softer on QE Talk

DailyFX 2019 FX Trading Forecasts

EUR: Commentary from one of the most dovish ECB members, Olli Rehn, has pushed the Euro lower with the rate setter noting that the ECB should over-deliver with rate cuts and a restarting of QE. As it stands, money markets expect 15bps worth of easing in the depo rate, however, the focus will be on the composition of QE2 in September. Alongside this, eyes will be on the other ECB members to gauge the consensus pertaining to an ECB QE package in September. Elsewhere, Italian political risks could keep the Euro on the backfoot amid the potential no-confidence vote on Tuesday.

GBP: The Pound is notably firmer this morning with gains largely stemming from the corrective pullback observed in EURGBP, which trades lower by 1%. The absence of notable Brexit related news flow has kept the modest Sterling uptrend intact.

Oil: OPEC lowered their global oil demand forecast for 2019 by 40kbpd to 1mbpd. Alongside this, they highlighted that the outlook is likely to be bearish throughout the remainder of the year, consequently sparking a pullback in the energy complex.

OPEC Signals Bearish Crude Oil Outlook, GBP Corrects Higher - US Market Open

Source: DailyFX

IG Client Sentiment

OPEC Signals Bearish Crude Oil Outlook, GBP Corrects Higher - US Market Open

How to use IG Client Sentiment to Improve Your Trading

WHAT’S DRIVING MARKETS TODAY

  1. US Dollar, Euro Technical Outlook: Poised for Larger Breakout” by Paul Robinson, Currency Strategist
  2. ECB and Fed Monetary Shifts Have Outsized Global Influence” by Nick Cawley, Market Analyst
  3. Most Volatile Currencies Next Week - Japanese Yen Volatility Highest Since Flash Crash” by Justin McQueen, Market Analyst
  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 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