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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
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
  • Asia-Pacific stocks look set to trade higher after US Treasury secretary nominee Janet Yellen showed her support to Biden’s US$ 1.9 trillion fiscal stimulus plan - a boost to energy, industrial and information technology sectors in particular.
  • The US Dollar may be finding a turning point against ASEAN currencies as smaller fiscal stimulus bets, soft earnings risk and Covid cases translate into some capital flight from equities. Get your #ASEAN currencies market update from @ddubrovskyFX here:
  • Heads Up:🇺🇸 Joe Biden's Inauguration due at 00:00 GMT (15min)
  • Heads Up:🇦🇺 Westpac Consumer Confidence Index (JAN) due at 23:30 GMT (15min) Previous: 112
  • 6 out of 9 Dow Jones sectors advanced on Tue, with 56.7% of the index’s constituents closing in the green. Energy (+2.63%), industrials (+1.32%) and information technology (+0.91%) were among the best performers, whereas consumer staples (-0.90%) trailed behind.
  • Cable noticeably stronger recently, now trading above 1.36 $GBP $USD
  • The New Zealand Dollar has slipped lower in recent days against its major counterparts, as risk appetite notably faded. Key levels to watch for NZD/USD, NZD/JPY and AUD/NZD. Get your $NZD market update from @DanielGMoss here:
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here:
  • WTI Crude with a strong session, closing just under $53 $WTI $USD
  • #Bitcoin choppy during trade, now comfortably above $36,000 $BTC $USD
DAX & FTSE 100 Outlook: Potential Coordinated G7 Action to Curb Coronavirus Impact

DAX & FTSE 100 Outlook: Potential Coordinated G7 Action to Curb Coronavirus Impact

Justin McQueen, Analyst

DAX, FTSE 100 Analysis and Talking Points

  • G7 Disappointment Could Curb Stock Market Rebound
  • Expectations Raised for Coordinated Central Bank Action
  • DAX & FTSE 100 Rebound Persists

G7 Disappointment Could Curb Stock Market Rebound

G7 Finance Ministers and Central Bankers are planning a call to discuss the coronavirus, which will take place from 1200GMT. Overnight, Reuters sources reports noted that a draft G7 statement did not contain specific language calling for fresh fiscal stimulus nor coordinated rate cuts, which as it stands, has done little to curtail the rebound seen across global equity markets. That said, the reversal in risk sentiment has largely been predicated on the aggressive money market pricing for central bank action. Of note, markets are pricing in 65bps worth of easing by the March 18th meeting. As such, in action from central banks may markets somewhat disappointment and thus place equities once again on the backfoot. (Potential for coordinated G7 action for the first time since 2011)

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

DAX: Much like the rest of the equity space, the DAX saw a sharp rebound in yesterday’s session with gains persisting throughout today’s session amid raised expectations of coordinated central bank action. That said, with the DAX above the psychological 12000 level, the index is edging towards the 38.2% fib situated at 12433. However, in the longer term, given the weakness in China, which had been highlighted by the record low Chinese PMI report, there is the potential for greater negative shocks to the European markets amid its exposure to China, alongside the persistent weak data out of the Eurozone.

DAX 30 Price Chart: Daily Time Frame

DAX & FTSE 100 Outlook: Potential Coordinated G7 Action to Curb Coronavirus Impact
Trading Forex News: The Strategy
Trading Forex News: The Strategy
Recommended by Justin McQueen
Trading Forex News: The Strategy
Get My Guide

FTSE 100: The FTSE 100 continues to recover from last weeks aggressive sell-off. Alongside this, with tense start to EU and UK trade negotiations, UK assets will become increasingly focused on Brexit talks yet again. As such, with the Pound continuing to hold below the 1.2800 handle, a persistent move lower in the currency as Brexit uncertainty begins to creep in, may see the FTSE 100 hold onto to its recent reversal. As the index breaks above resistance at 6792, a close above could put the index on course for a test towards 7000.

FTSE 100 Price Chart: Daily Time Frame

DAX & FTSE 100 Outlook: Potential Coordinated G7 Action to Curb Coronavirus Impact

--- Written by Justin McQueen, Market Analyst

Follow Justin on Twitter @JMcQueenFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.