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
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
Wall Street
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
Gold
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
GBP/USD
Mixed
USD/JPY
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
More View more
Real Time News
  • US Indices are trading lower on news of potential increases in the capital gains tax rate. DOW -0.77% SPX -0.62% NDX -0.56% RUT +1.08% $DIA $SPY $QQQ $IWM
  • Ethereum (ETH/USD) Fresh Highs; BTC/USD, Dogecoin Back Down https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2021/04/22/Ethereum-ETH-USD-fresh-highs-Bitcoin-BTC-USD-Dogecoin-DOGE-Back-Down.html https://t.co/vgZRauTKnt
  • US 5yr TIPS Auction: - Draw -1.631% (prev. -1.575%) - WI -1.63% - Bid/Cover 2.50 (prev. 2.86) - Allotted at high 41.74% $USD
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.27%, while traders in Wall Street are at opposite extremes with 67.27%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/YFcEcIW5zJ
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.14% Gold: -0.69% Silver: -1.41% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/guhQLALwYf
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.04% 🇯🇵JPY: -0.09% 🇨🇭CHF: -0.16% 🇦🇺AUD: -0.37% 🇬🇧GBP: -0.59% 🇳🇿NZD: -0.61% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/X568Rs9WtB
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.04% US 500: 0.01% France 40: 0.01% FTSE 100: -0.05% Wall Street: -0.13% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/FocvtyS5wk
  • #Gold rose to a fresh two month high today just shy of the 1,800 level. The precious metal has since dropped slightly lower and is currently trading around 1,780 as US 10yr yields rose to an intraday high. $XAU $GLD https://t.co/oeY1Hkh0Eg
  • US 10yr Treasury yields just hit a fresh intraday high around the 1.58% level. Yields remain far off of the pandemic highs set around 1.75% in late March. $USD https://t.co/GCxSdIvBEl
  • The Spinning Top candlestick pattern forms part of the vast Japanese candlestick repertoire with its own distinct features. Gain a better understanding of the spinning top candlestick here: https://t.co/DWm7cBMUg9 https://t.co/o2NBAy00hQ
Japanese Yen Outperforms, Month-End Rebalancing Signals US Dollar Selling - US Market Open

Japanese Yen Outperforms, Month-End Rebalancing Signals US Dollar Selling - US Market Open

Justin McQueen, Analyst

MARKET DEVELOPMENT – Japanese Yen Outperforms, Month-End Rebalancing Signals USD Selling

DailyFX 2019 FX Trading Forecasts

USD: The US Dollar is on the backfoot following yesterday’s Federal Reserve meeting. While the Fed delivered a hawkish cut by signalling a pause in rate cuts going forward, initial gains were quickly retraced after Powell highlighted that “significantly” higher inflation would be needed in order for the Fed to consider raising rates. However, losses have been curbed with safe-havens benefiting from reports this morning out of China that they doubt a long-term trade deal will ever be reached with President Trump. As such, the Japanese Yen is outperforming across the G10 complex, although sizeable option expiries at 108.00 keeps USD/JPY supported. Aside from trade wars, month-end FX rebalancing points to USD selling with buying signals strongest in both the Euro and Sterling, according to Citi.

ISM Manufacturing Could Have a Larger Impact than NFP

Japanese Yen Outperforms, Month-End Rebalancing Signals US Dollar Selling - US Market Open

Source: Reuters, ISM Manufacturing Heatmap

EUR: Narrow range (1.1145-75) for EUR/USD throughout today’s session, which has held onto its overnight gains. On the economic front, Eurozone growth posted a better quarterly reading than expected at 0.2% (Exp. 0.1%), potentially signalling that Germany may have avoided a technical recession. Elsewhere, Eurozone inflation remains firmly below the ECB’s target with the headline rate printing in line with expectations at 0.7%, while the core figure saw an uptick to 1.1%.

ZAR: Losses in the South African Rand have extended this morning amid the pullback in risk appetite, while the South African Finance Minister Mboweni noted that Moody’s is looking carefully at the country’s fiscal stance. This comes ahead of Moody’s sovereign rating tomorrow, which is the last rating agency to have SA sovereign credit in investment grade. Of note, a decision to downgrade South Africa’s rating could see USD/ZAR spike to 15.40.

Japanese Yen Outperforms, Month-End Rebalancing Signals US Dollar Selling - US Market Open

Source: DailyFX, Refinitiv

Economic Calendar (30/10/19)

Japanese Yen Outperforms, Month-End Rebalancing Signals US Dollar Selling - US Market Open

Source: DailyFX,

WHAT’S DRIVING MARKETS TODAY

  1. US Dollar Technical Outlook: EUR/USD, USD/CAD, USD/JPY” by Justin McQueen, Market Analyst
  2. DAX 30 Technical Outlook: Overbought, but Could Tack on More Gains” by Paul Robinson, Currency Strategist
  3. EUR/GBP Outlook: Bearish Chart Pattern Starting to Form” by Nick Cawley, Market Analyst

--- 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