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
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
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
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
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
Oil - US Crude
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
Bitcoin
Bullish
More View more
Real Time News
  • The #Euro has broken four-month support guiding a recovery against the US Dollar to suggest that the long-term downtrend has been re-engaged. Get your EUR/USD market update from @IlyaSpivak here: https://t.co/FHiGQZ6zvV https://t.co/0ulmLWaZxK
  • The US Dollar may be on the verge of upside breakouts against #ASEAN currencies such as the Singapore Dollar and Malaysian Ringgit after Wuhan virus fears boosted $USDSGD and $USDMYR #SGD #USD - https://www.dailyfx.com/forex/technical/article/special_report/2020/01/29/Dollar-Technical-Outlook-May-Turn-Bullish-as-USDSGD-USDMYR-Rise.html?CHID=9&QPID=917702 https://t.co/1M1GTIo79r
  • $AUDJPY technical positioning hints prices may be on cusp of turning lower after a late-2019 bounce, recoupling with a dovish RBA policy outlook. Get your market update from @IlyaSpivak here: https://t.co/z84Y0V0ZtH https://t.co/e30wIlAkbF
  • Commodities Update: As of 03:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.45% Gold: -0.20% Silver: -0.42% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/SP0lbABAbq
  • Forex Update: As of 03:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.13% 🇨🇦CAD: -0.05% 🇪🇺EUR: -0.06% 🇯🇵JPY: -0.07% 🇨🇭CHF: -0.12% 🇳🇿NZD: -0.17% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/3lgUbBP3XF
  • #EURGBP Outlook Bullish Ahead of #Brexit, BoE Rate Decision - https://www.dailyfx.com/forex/technical/home/analysis/eur-gbp/2020/01/29/EURGBP-Outlook-Bullish-Ahead-of-Brexit-BoE-Rate-Decision.html
  • My trading video for today: "Dow, Risk Attempt Recovery Amid Competing Theme: #Coronavirus, #Fed and #Earnings' https://www.dailyfx.com/forex/video/daily_news_report/2020/01/29/Dow-Risk-Attempt-Recovery-Amid-Competing-Theme-Coronavirus-Fed-and-Earnings.html?ref-author=Kicklighter?CHID=9&QPID=917719 https://t.co/VVmYBjVy63
  • #AUD has been fairly mute following AU CPI data aside vs #NZD. $AUDNZD tends to act as a "risk-neutral" pair (see article below), focusing on relative #RBA to #RBNZ shifts. #RBC and #JPMorgan pushed back on #RBA rate cut bets. RSI divergence hints bottom - https://www.dailyfx.com/forex/fundamental/article/special_report/2018/11/23/AUDNZD-Nets-Out-Market-Mood-Swings-Focus-On-RBA-RBNZ-Policy.html?CHID=9&QPID=917702 https://t.co/c30ePn9wEs
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.46%, while traders in US 500 are at opposite extremes with 71.50%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/CVurL5Fv0L
  • Silver prices suffered their biggest one-day decline since September 2019. Called it: "Silver and Gold Prices Ripe for Retreat Ahead #FOMC Outlook?" https://www.dailyfx.com/forex/market_alert/2020/01/28/Silver-and-Gold-Prices-Ripe-for-Retreat-Ahead-FOMC-Outlook.html https://t.co/25CpcxXtDj
AUD/USD Slammed, EUR/USD Eyes US ISM Report - US Market Open

AUD/USD Slammed, EUR/USD Eyes US ISM Report - US Market Open

2020-01-07 14:00:00
Justin McQueen, Analyst
Share:

MARKET DEVELOPMENT – AUD/USD Slammed, EUR/USD Eyes US ISM Report

AUD: The Australian Dollar remains on the backfoot, dropping over 0.8% against the USD, consequently breaking below the 0.6900 handle. In light of the bushfire crisis, the latest ANZ job advertisements data reported the largest job (-6.7%) since May, consequently, raising downside risks to the Australian jobs report on January 23rd. In turn, money markets have raised the likelihood of a rate cut from the RBA next month to 56%.

How to Use IG Client Sentiment in Your Trading
How to Use IG Client Sentiment in Your Trading
Recommended by Justin McQueen
Improve your trading with IG Client Sentiment Data
Get My Guide

ANZ Job Advertisements Signal Risk of 5.4% Unemployment Rate

AUD/USD Slammed, EUR/USD Eyes US ISM Report - US Market Open

Source: DailyFX, Refinitiv

EUR: Eurozone inflation rose in line with expectations at 1.3% for December, up from 1.0%. The had largely been attributed to the increase in energy prices, which rose 0.2%, compared with a 3.2% decline November. That said, inflation remains heavily below the ECB’s target, therefore this is unlikely to alter the central bank’s monetary policy outlook. Meanwhile, the Euro continues to trade within a relatively tight range, albeit trading a little softer on the back of the firmer greenback. Eyes on the ISM Non-Manufacturing Service data, whereby a better than expected figure could test the pair test 1.1140 support.

GBP: Little of note for the Pound, which trades modestly lower against the greenback. MPs return to parliament where they will begin three days of debating PM Johnson’s Withdrawal Agreement Bill. That said, given the 80-seat majority Boris Johnson holds, the bill will pass with ease. On the technical front, the 50% Fibonacci retracement (from Apr’18 - Sep’19 drop) remains the stumbling block for GBP/USD having failed to consolidate above. That said, support for the pair is situated at 1.3050.

AUD/USD Slammed, EUR/USD Eyes US ISM Report - US Market Open

Source: DailyFX, Refinitiv

Economic Calendar (07/01/20)

AUD/USD Slammed, EUR/USD Eyes US ISM Report - US Market Open

Source: DailyFX,

WHAT’S DRIVING MARKETS TODAY

  1. Canadian Dollar Price Outlook: USD/CAD Sell-Off Eyes Fresh Low” by Nick Cawley, Market Analyst
  2. USD/MXN – US Dollar Breakdown vs Mexican Peso, Watch 2019 Low” by Paul Robinson, Currency Strategist
  3. US Dollar Longs Slashed, GBP/USD Most Bullish Since May 2018 - COT Report” by Justin McQueen, 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

News & Analysis at your fingertips.