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
Mixed
Oil - US Crude
Bearish
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
Bullish
GBP/USD
Bearish
USD/JPY
Mixed
More View more
Real Time News
  • Earnings in focus https://t.co/iQZ3NTgriW
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in AUD/JPY are at opposite extremes with 63.58%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/yPYfN7Ik9C
  • Commodities Update: As of 11:00, these are your best and worst performers based on the London trading schedule: Silver: 1.57% Oil - US Crude: 1.01% Gold: 0.38% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/X7kHJDLKkY
  • Forex Update: As of 11:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.46% 🇨🇭CHF: 0.42% 🇦🇺AUD: 0.41% 🇨🇦CAD: 0.29% 🇳🇿NZD: 0.20% 🇯🇵JPY: -0.29% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/NQsgL7dUy5
  • Ever wonder if there are other chart types that can be used for technical analysis? HLOC charts are discussed in the following article as well as their pros and cons. Learn more here: https://t.co/qV3c7a4YR3 https://t.co/Yqu2heS6Wz
  • Indices Update: As of 11:00, these are your best and worst performers based on the London trading schedule: US 500: 0.42% Wall Street: 0.37% Germany 30: 0.19% FTSE 100: 0.14% France 40: -0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/LCfrU0DwEH
  • France 40 IG Client Sentiment: Our data shows traders are now net-long France 40 for the first time since Dec 22, 2020 when France 40 traded near 5,477.70. A contrarian view of crowd sentiment points to France 40 weakness. https://www.dailyfx.com/sentiment https://t.co/58P7y6uEE0
  • Coming up in 20'. Please join me if you're free by clicking the link below https://t.co/629fFCZnuC
  • 💶 ZEW Economic Sentiment Index (JAN) Actual: 58.3 Previous: 54.4 https://www.dailyfx.com/economic-calendar#2021-01-19
  • 🇩🇪 ZEW Current Conditions (JAN) Actual: -66.4 Expected: -68.5 Previous: -66.5 https://www.dailyfx.com/economic-calendar#2021-01-19
US Dollar Pops Higher on Firmer Rates and Bears Unwinding - US Market Open

US Dollar Pops Higher on Firmer Rates and Bears Unwinding - US Market Open

Justin McQueen, Analyst

USD, USD/JPY Analysis & News

  • Equities Awaiting Catalyst
  • USD Correcting with USD/JPY Tracks US Rates Higher

QUICK TAKE: Equities Mixed, USD Bears Unwind, US Rates Extend Gains

Equities:DJIA (+0.45%), S&P 500 (+0.65%), Nasdaq 100 (-0.1%)

Relatively choppy price action across the equity space for European bourses as the bullish sentiment fizzles out amid a lack of key catalysts. That said, US futures continue to hover around record highs. With the FOMC minutes providing little in the way of new information, focus now turns to tomorrow’s US NFP report. As a reminder, the US ADP showed a surprise contraction of 123k, however, the data hasn’t been a reliable indicator for NFP for quite some time. Nonetheless, it does emphasise the slowing momentum in jobs growth.

FX

US Dollar Pops Higher on Firmer Rates and Bears Unwinding - US Market Open

The US Dollar is on the front-foot as US yields continue to track higher with 10yrs up over 3bps on the day to 1.07%. However, it is important to keep in mind, that given the persistent downtrend in the greenback, it is natural for a corrective move, shaking out weak hands. Key resistance on the topside is the 90.00. That said, in light of the Democrat sweep, USD risks remain tilted to the downside.

USD Forecast
USD Forecast
Recommended by Justin McQueen
Download our fresh Q1 2021USD Forecast
Get My Guide

Elsewhere, the Japanese Yen has extended on recent losses as the currency tracks US yields closely, which puts focus on resistance situated at 104.00. That said, the USD/JPY downtrend remains intact for now.

USD/JPY MIXED
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily -4% 9% 1%
Weekly 10% 1% 6%
What does it mean for price action?
Get My Guide

USD/JPY vs US 10Y Yields

US Dollar Pops Higher on Firmer Rates and Bears Unwinding - US Market Open

Source: Refinitiv

USD/JPY Chart: Daily Time Frame

US Dollar Pops Higher on Firmer Rates and Bears Unwinding - US Market Open

Source: Refinitiv

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

DISCLOSURES