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
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
Wall Street
Bullish
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
GBP/USD
Bullish
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
More View more
Real Time News
  • Italy PM Draghi: Bringing forward easing of restrictions in many areas to April 26th. #Italy $EUR
  • Heads Up:🇺🇸 Michigan 5 Year Inflation Expectations Prel (APR) due at 14:00 GMT (15min) Previous: 2.8% https://www.dailyfx.com/economic-calendar#2021-04-16
  • Heads Up:🇺🇸 Michigan Inflation Expectations Prel (APR) due at 14:00 GMT (15min) Previous: 3.1% https://www.dailyfx.com/economic-calendar#2021-04-16
  • Heads Up:🇺🇸 Michigan Consumer Sentiment Prel (APR) due at 14:00 GMT (15min) Expected: 89.6 Previous: 84.9 https://www.dailyfx.com/economic-calendar#2021-04-16
  • EUR/USD is finding 1.2000 hard to overcome. Will next week’s ECB help to steer EUR/USD? Get you $EURUSD market update from @nickcawley1 here: https://t.co/61UViagLT8 https://t.co/WV1gGPB9Ar
  • Indices Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Germany 30: 1.01% France 40: 0.58% Wall Street: 0.43% FTSE 100: 0.39% US 500: 0.34% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/ONZPERuLH2
  • Russia's Novak: OPEC+ countries will gradually restore oil output in May - July. #OOTT $OIL
  • I think this qualifies as Ludicrous Speed (Spaceballs not Tesla). Dogecoin ($DOGEUSD) keeps accelerating and now up over 100% just on the day. Still not as big a percentage move as Jan 28th's 340%....yet https://t.co/iQ92k5QL19
  • $EURUSD persistence at resistance the big fig can't hold bulls back forever. This is why ascending triangles build - recurring tests of horizontal res as each res test carries a diminishing marginal impact https://t.co/AwQnKeY3tj https://t.co/ysnFADoh42
  • US Treasury: - Drops Switzerland, Vietnam from FX manipulator designations - Taiwan, Switzerland, Vietnam met US criteria for designation - Urges more transparency from China's offshore RMB market $USD $CHF $CNH $CNY
US Dollar Rally Halts, Gold Bounces Back - US Market Open

US Dollar Rally Halts, Gold Bounces Back - US Market Open

Justin McQueen, Analyst

USD, GBP/USD, USD/JPY Analysis & News

  • US Tech Stocks Find Reprieve
  • US Dollar Rally on Hold
  • Gold Pops on Softer USD and Yields

QUICK TAKE: US Dollar Rally Halts, Gold Bounces Back

Equities: A turnaround in tech has dominated the pre-Wall Street open price action in the equity space with Nasdaq futures up 2% amid a pullback in US yields. However, equity markets remain choppy and with US yields biased to the upside, tech stocks are likely

Euro Stoxx 50 Sector Breakdown

Outperformers:Utilities (2.2%), Technology (1.6%),Consumer Staples (0.8%)

Laggards: Basic Materials (-1.2%), Financials (-0.9%), Industrials (-0.2%)

US Futures: S&P 500 (0.9%), DJIA (0.3%), Nasdaq 100 (2.3%)

Intra-day FX Performance

US Dollar Rally Halts, Gold Bounces Back - US Market Open

USD: A modest pullback in the US Dollar following the abovementioned slide in US yields. However, while this has lifted the greenback’s counterparts, trading conditions remain choppy and short-term in nature for now. Alongside this, markets appear to be gauging what side of the USD smile are we at, given that the notable upgrades in US growth relative to the rest of the world suggests that that we are on the right side, underpinning the greenback. That said, on the tech front, resistance resides at 92.50, with the 200DMA above at 92.87.

US Dollar Chart: Daily Time

US Dollar Rally Halts, Gold Bounces Back - US Market Open

Elsewhere, Treasury auctions will be in focus, beginning with the 3Y today. Should the auction highlight weak demand, expect yields to march higher once again.

US 3YAuction Details:

US Dollar Rally Halts, Gold Bounces Back - US Market Open

Source: Refinitiv

Commodities: A much need reprieve for gold, up over 2% for the session as softer yields and USD underpins, which also coincided with strong support from 1670. However, as I said in the weekly gold report the technical landscape is unlikely to change until there is a close above 1760.

Looking ahead: DailyFX Calendar

US Dollar Rally Halts, Gold Bounces Back - US Market Open

Source: DailyFX

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

DISCLOSURES