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.

Free Trading Guides
EUR/USD
Bullish
GBP/USD
Bullish
USD/JPY
Bearish
Gold
Bearish
Oil - US Crude
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
Bitcoin
Bullish
More View more
Real Time News
  • #NOK, #SEK and #AUD are expected to be the most-active #G10 FX against the US Dollar with one-week implied volatility at 10.05, 9.05 and 8.68 respectively -BBG [delayed]
  • The #ASX 200 stock index hit record highs this year but those days seem unlikely to return anytime soon as even equity buckles before the #coronavirus outbreak. Get your market update from @DavidCottleFX here: https://t.co/HlZhPBbnIn https://t.co/UbCNbaPtX4
  • LIVE NOW: In this session, Currency Analyst @ddubrovskyFX discusses traders' positioning as a key element of market analysis to determine the prevailing and future price trends. https://www.dailyfx.com/webinars/998956395
  • South Korea #coronavirus cases top 1,000. For perspective, it was 51 a week ago.
  • Markets after realizing they may have to contend with reignited US-China trade tensions, #coronavirus and a neutral Fed all at the same time: https://t.co/PlC75iOY13
  • The $USD may rise against the Malaysian Ringgit after Prime Minister Mahathir Mohamad resigned. Bank of Malaysia may cut rates on #coronavirus fears with fiscal stimulus uncertain. Get your market update from @ddubrovskyFX here: https://t.co/WSx7FEf6W6 https://t.co/byzavtwAo5
  • LIVE IN 30 MIN: In this session, Currency Analyst @ddubrovskyFX discusses traders' positioning as a key element of market analysis to determine the prevailing and future price trends. https://www.dailyfx.com/webinars/998956395
  • The British Pound, #Euro and Japanese #Yen rose versus the US Dollar. #Coronavirus fears sank stocks and increased #Fed rate cut bets. The $GBPUSD technical bias still points lower #USD - https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2020/02/26/British-Pound-Euro-Yen-Gain-as-US-Dollar-Weakens-in-Tense-Session.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/qupkKdbHms
  • Join @ddubrovskyFX 's #webinar at 8:00 PM ET/1:00 AM GMT to find out what information you can gain from knowing what other traders are buying or selling. Register here: https://t.co/Bb3CTDaWVC https://t.co/BlxHOemKwy
  • China is "fully expected" to meet terms outlined in "Phase 1" of the US-China trade deal despite the outbreak of the #coronavirus according to top US officials (SCMP) - First Squawk Could you imagine the pandemonium if markets had to contend with #covid19 and reignited tensions?
AUD & CAD Gain on China’s Stance, US Dollar Unmoved by Q2 Growth - US Market Open

AUD & CAD Gain on China’s Stance, US Dollar Unmoved by Q2 Growth - US Market Open

2019-08-29 13:00:00
Justin McQueen, Analyst
Share:

MARKET DEVELOPMENT – AUD & CAD Gain on China’s Stance, US Dollar Unmoved by Q2 Growth

DailyFX 2019 FX Trading Forecasts

AUD / CAD / NZD: Commondity currencies are notably firmer this morning as China’s seemingly softer rhetoric boosts risk appetite. The Chinese Commerce Ministry stated that they are willing to resolve trade tensions with the US provided that they were met halfway. China MOFCOM stated that this would entail the US cancelling its planned additional tariffs, adding that both sides should create conditions for progress. However, while this may have underpinned risk sentiment, focus is now back on the response from the Trump administration, which could see the upside faded if the US rebuffs the gesture.

Italy: BTPs and the FTSE MIB continue to edge higher as the prospect of a more business friendly coalition between the PD and 5star party grows. Consequently, with Italy looking set to avoid snap elections, optimism has grown over the possible passing of the 2020 budget due mid-October.

USD: US Q2 GDP had been revsied lower to 2% from 2.1%, however, despite this, while growth is indeed slowing, it still remains relatively robust, particularly against its major counterpart, while personal consumption has also continued to be strong.

AUD & CAD Gain on China’s Stance, US Dollar Unmoved by Q2 Growth - US Market OpenAUD & CAD Gain on China’s Stance, US Dollar Unmoved by Q2 Growth - US Market Open

Source: DailyFX

WHAT’S DRIVING MARKETS TODAY

  1. USD/JPY, GBP/JPY Forecast: Price May Rally Above Weekly Resistance” by Mahmoud Alkudsi, Market Analyst
  2. GBPUSD Outlook: No End in Sight for Trend Lower” by Martin Essex, MSTA , Analyst and Editor
  3. Trade War Latest: China Softening Stance, Eyes on US Response” 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

News & Analysis at your fingertips.