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
Bullish
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
Bearish
Gold
Bullish
GBP/USD
Bearish
USD/JPY
Bearish
More View more
Notice

BoE Chief Econimist (Hawk) is to Step Down From BoE After June Meeting

Real Time News
  • US 10yr Treasury yields have fallen further following the strong auction in the 30yr. After hitting a weekly high around 1.70% this morning, yields have dropped to a multi-day low around 1.625%. $USD https://t.co/7rK6uh1uJn
  • US 30yr Treasury auction: - Draw 2.320%, WI 2.338% (prev. 2.295%) - Bid/Cover Ratio: 2.47 (prev. 2.28) 30yr yields tightened to an intraday low following the auction. https://t.co/RbbyJ3A4pZ
  • #Gold Price Forecast: Gold Drifts Towards Range Extremes– $XAUUSD Levels - https://t.co/5UFcmQNpx2 https://t.co/OgP4nFMPG5
  • - Sees inflation slightly exceeding 2% target this year - Don't expect inflation to be running out of control - The Fed has the tools to deal with unwanted higher inflation
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.42%, while traders in Germany 30 are at opposite extremes with 75.32%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/4n1rSAR7VD
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Silver: 2.20% Oil - US Crude: 0.88% Gold: 0.69% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/eTA7lkr4LN
  • Among the exceptions, Bitcoin continues to power ahead and IG client sentiment data are sending a bearish signal on GBP/JPY. Get your $GBPJPY market update from @MartinSEssex here:https://t.co/YbeAlUh70c https://t.co/QStrfTiK5D
  • - Supply shortages could limit GDP upside - Expecting consumer-price pressures this year - Long-term disinflationary forces should modulate prices
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.27% 🇯🇵JPY: 0.20% 🇨🇦CAD: 0.20% 🇨🇭CHF: 0.15% 🇦🇺AUD: 0.15% 🇬🇧GBP: 0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/SOlcl3sqbU
  • Fed's Barkin: - Hopeful that US is on brink of completing recovery - Expecting "really strong" spring and summer - Real-time indicators suggests US is "in midst of boom" #Fed $USD
US Dollar Slips, Canadian Dollar Dragged Down by Soft Crude Oil Prices  - US Market Open

US Dollar Slips, Canadian Dollar Dragged Down by Soft Crude Oil Prices - US Market Open

Justin McQueen, Analyst

MARKET DEVELOPMENT – US Dollar and CAD Slips, NZD/USD Steady

DailyFX 2019 FX Trading Forecasts

USD: A rather lacklustre session thus far with major USD pairs trading in relatively tight ranges. With little on the economic calendar, markets await the latest developments pertaining to US-China trade wars. Elsewhere, comments from Fed’s Evans veered to the slightly dovish side with the rate setter stating that the neutral rate has moved down with current monetary policy not that far off the neutral rate.

CAD: Marginal losses for the Canadian Dollar, which is underperforming relative to its major counterparts as the currency is dragged lower by soft energy prices. Yesterday, API reported a larger than expected crude inventory build of 4.3mln barrels, as such, eyes are on the DoE’s for confirmation. Looking ahead, the key focus for the CAD will be Friday’s labour market report.

NZD: The New Zealand Dollar has held relatively despite the slightly softer employment report. The unemployment rate creeped up to 4.2%, above expectations of 4.1%, however, this is partially attributed to the increase in the labour participation rate, while the unemployment was below the RBNZ’s projection of 4.4%, suggesting that the central bank be on hold at next week’s meeting. Of note, money markets are pricing in a 67% likelihood that the central bank will lower rates next week.

US Dollar Slips, Canadian Dollar Dragged Down by Soft Crude Oil Prices  - US Market Open

Source: Refinitiv

US Dollar Slips, Canadian Dollar Dragged Down by Soft Crude Oil Prices  - US Market Open

Source: DailyFX, Refinitiv

Economic Calendar (06/11/19)

US Dollar Slips, Canadian Dollar Dragged Down by Soft Crude Oil Prices  - US Market Open

Source: DailyFX,

WHAT’S DRIVING MARKETS TODAY

  1. Canadian Dollar Technical Analysis Overview: USD/CAD Awaits Breakout” by Justin McQueen, Market Analyst
  2. Dow Jones, S&P 500, Nasdaq 100 Technical Outlook in Record Territory” by Paul Robinson, Currency Strategist
  3. EUR/USD Tests Reversal Levels – Price May be on Verge of a Break out” by Mahmoud Alkudsi, 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