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. See our updated Privacy Policy here.



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
  • 🇨🇦 New Housing Price Index YoY (MAY) Actual: 11.3% Previous: 9.9%
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Gold are long at 82.84%, while traders in France 40 are at opposite extremes with 76.19%. See the summary chart below and full details and charts on DailyFX:
  • Fed's Bullard says his dot plot reflects liftoff in late 2022
  • $USDCAD taking on a new life now, back above the longer-term trendline +370 from the failed breakout earlier this month
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here:
  • Forex Update: As of 12:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.03% 🇪🇺EUR: -0.07% 🇨🇦CAD: -0.13% 🇬🇧GBP: -0.41% 🇦🇺AUD: -0.49% 🇳🇿NZD: -0.54% View the performance of all markets via
  • Heads Up:🇨🇦 New Housing Price Index YoY (MAY) due at 12:30 GMT (15min) Previous: 9.9%
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here:
  • Heads Up:🇮🇳 Monetary Policy Meeting Minutes due at 11:30 GMT (15min)
  • Italy PM Draghi states that more stimulus is needed to return to pre-covid - must be vigilant on inflation expectations
Equity Markets Look Increasingly Fragile as US-China Tensions Escalate

Equity Markets Look Increasingly Fragile as US-China Tensions Escalate

Nick Cawley, Strategist

FTSE, DAX and S&P Price, News and Analysis:

  • New law bans secession, subversion and terrorism.
  • US Secretary of State Mike Pompeo warns HK’s preferential status at risk.

Risk Markets Need to Take Heed of Political Tensions

Global equity markets continue to extend their sharp rebounds from their late-March multi-year lows, favoring central bank liquidity over increasing global political risks. The S&P 500 has recouped nearly 70% of its recent losses, with the German DAX 30 close behind, while the FTSE 100 has returned over 50% in the last two months. Furthermore, the NASDAQ 100 is close to regaining all of its recent losses, driven by market heavyweights, Microsoft, Apple, Amazon and Alphabet. While central bank largesse continues, markets are content to ignore growing political tension between the world’s two superpowers, the US and China.

S&P 500: High 3,391 (Feb 20) – Low 2,184 (March 23) – Currently 3,046.

DAX 30: High 13,830 (Feb 20) – Low 7,971 (March 19) – Currently 11,747.

FTSE 100: High 7,690 (Jan 20) – Low 4,776 (March 230 – Currently 6,185.

The US and China have been at loggerheads for years, with President Trump accusing China of ongoing unfair trade practices, sparking a rift between the two countries. The US has also blamed China for the spread of the COVID-19 virus, straining relations further. These relations will be now be soured to a greater extent after China passed a new security law for Hong Kong, undermining the island’s authority. US Secretary of State Mike Pompeo, has already said that this ruling would mean that Hong Kong is ‘no longer autonomous from China’ and that the island’s special trade status under US law would be under scrutiny. This would damage Hong Kong’s position as a global financial hub and create serious economic implications for China.

While equity and other risk markets are currently content to dance to the noise of the central bank’s printing presses, recent economic data has laid bare the effects that the COVID-19 lockdown has had on economies around the globe. Equity valuations are becoming increasingly stretched and the likelihood of another market downturn cannot be discounted as tensions between the US and China increase. Any further economic sanctions between the two will weigh heavily on market sentiment and while current liquidity conditions may underpin equity markets at or around current levels, further upside is becoming increasingly difficult to justify.

What is your view on Global Risk Markets – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author via Twitter @nickcawley1.

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