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
Mixed
GBP/USD
Bullish
USD/JPY
Bullish
Gold
Bullish
Oil - US Crude
Bullish
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
Mixed
More View more
Real Time News
  • The ECB rate decision is a top fundamental event risk later today. It is unlikely that they add on top of September's flood, but path of least resistance is sticking to range and retail traders are heavy bears: https://t.co/GCyvs6nYth
  • South Korea Q3 GDP shows 0.4% growth print Q/Q, missing 0.3% estimate - BBG #USDKRW
  • #Gold: Buyers have remained at bay, even with the $USD sell-off, as a bull flag formation has built around a 23.6% retracement of that recent major move.Get your $gld market update from @JStanleyFX here: https://t.co/tkY4716pfC https://t.co/mik1bjz3Fo
  • #BRL, #COP and the #CLP are expected to be the most active Latin American currencies vs USD with 1-week implied volatilities at 13.55, 10.30 and 10.06 respectively
  • RT @LiveSquawk: News Recap - - Some BOJ Policy Makers Want to Save Ammunition - WSJ https://t.co/zweqHl37Ij
  • Australia’s CBA Australia PMI Composite (OCT P) Actual: 50.7 Est: N/A Previous: 52.0 CBA Australia PMI Mfg (OCT P) Actual: 50.1 Est: N/A Previous: 50.3 CBA Australia PMI Services (OCT P) Actual: 50.8 Est: N/A Previous: 52.4 #AUD
  • With Tesla up nearly 20% in after-hours trading, the company has seen its market cap balloon by roughly $9b from $45.5b to $54.4b Pretty incredible short squeeze if you ask me $TSLA
  • Tomorrow holds a few high profile fundamental updates: ECB decision (mon pol) and PMIs (recession fear). But, this pales in comparison to the densely packed run of key events for next week (US and EZ GDP, FOMC decision, BOJ forecasts, Chinese industrial profits; sentiment surveys
  • Heads Up:🇦🇺 AUD CBA Australia PMI Composite (OCT P) due at 22:00 GMT (15min), Actual: N/A Expected: N/A Previous: 52.0 https://www.dailyfx.com/economic-calendar#2019-10-23
  • Heads Up:🇦🇺 AUD CBA Australia PMI Services (OCT P) due at 22:00 GMT (15min), Actual: N/A Expected: N/A Previous: 52.4 https://www.dailyfx.com/economic-calendar#2019-10-23
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

2019-09-25 13:35:00
Justin McQueen, Analyst
Share:

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

News & Analysis at your fingertips.