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. See our updated Privacy Policy here.

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
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
GBP/USD
Mixed
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
USD/JPY
Bullish
More View more
Real Time News
  • Read an article from Reuters about banks sharing deposit information on clients to evaluate extending credit to those with no credit score. With so much liquidity we keep pushing lending down the credit scale. I'm sure someone is already working out an APR with Bill Hwang
  • USDCAD: Since the BoC’s hawkish taper, CAD strength has been dominant with USD/CAD dropping over 4.8% and hitting a six year low. Get your $USDCAD market update from @JMcQueenFX here:https://t.co/aEc5McOPFS https://t.co/FGO4EuxJR5
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.36% 🇨🇭CHF: 0.32% 🇯🇵JPY: 0.12% 🇪🇺EUR: 0.08% 🇬🇧GBP: -0.02% 🇨🇦CAD: -0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/1mjDURi237
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Wall Street: 1.40% US 500: 1.29% Germany 30: 0.27% France 40: 0.19% FTSE 100: -0.54% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/dmtXTwOHYk
  • Heads Up:🇨🇦 BoC Gov Macklem Speech due at 15:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-05-13
  • Cryptocurrency market a sea of red. Ethereum/Bitcoin spread keeps positive sentiment. Get your market update from @nickcawley1 here:https://t.co/JQrMw98w3V https://t.co/vWwSNBi91L
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Gold: 0.34% Silver: -0.07% Oil - US Crude: -2.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/5xqZi7nDzM
  • Seems we have found the BTD mentality. 15-minute chart of the $SPX. Biggest opening hour rally thus far since March 9th https://t.co/bnzEVDGQTs
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.78%, while traders in GBP/JPY are at opposite extremes with 69.21%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/nWhPrkgMS5
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Gold: 0.18% Silver: -0.49% Oil - US Crude: -2.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/NPv5vwHjXT
US Dollar is King, GBP/USD Suffers, USD/JPY May Reverse - US Market Open

US Dollar is King, GBP/USD Suffers, USD/JPY May Reverse - US Market Open

Justin McQueen, Analyst

MARKET DEVELOPMENT –US Dollar is King, GBP/USD Suffers, USD/JPY May Reverse

DailyFX 2019 FX Trading Forecasts

USD: The US Dollar remains king as its major counterparts weaken, most notably GBP. The greenback appears to have shrugged off the initital fears pertaining to an impeachment of President Trump. That said, it would take a 2/3 majority in the Senate to be able to remove Trump from office. As such, given that the Republicans hold a majoirty with the Senate, this appears unlikely. However, the uncertainty looks to have plagued equity markets with European equities trading with modest losses. In turn, USD/JPY may begin to attract sellers from 107.80-108.00.

GBP: The political limbo keeps the pressure on the Pound, which is losing out to both the Euro and the Dollar. While the odds of a no-deal Brexit at the October 31st deadline appear to have diminished, expectations are building that a snap election will be the only way to potential break the currency deadlock. However, that in itself adds further uncertainty over UK politics and thus the Pound remains on the backfoot.

NZD: An intial bid in the New Zealand Dollar following a less dovish monetary policy statement. In turn, this saw the odds of a rate cut at the November meeting ease to 66% from 80%. AUD/NZD tested the 107.00 level on the downside before bouncing back, however, with key risk events in the form of the RBA rate decision and Aussie retail sales, the cross may continue its reversal, prompting a move towards 1.0630.

US Dollar is King, GBP/USD Suffers, USD/JPY May Reverse - US Market Open

Source: DailyFX, Refinitiv

WHAT’S DRIVING MARKETS TODAY

  1. Bitcoin (BTC) Price Slumps 15% as Cryptocurrency Market Crashes” by Nick Cawley, Market Analyst
  2. Gold Price and Silver Still Have Technical Headwinds” by Paul Robinson, Currency Strategist
  3. FTSE 100 & DAX Fundamental Forecast: Trump Impeachment Odds Rise” 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