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
Bullish
Oil - US Crude
Bearish
Wall Street
Mixed
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
GBP/USD
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • (Sentiment Weekly) Signals from IG Client Sentiment hint that the FTSE 100 and S&P 500 could have room for weakness ahead as the CAC 40 attempts to climb towards key resistance #SP500 #FTSE100 #CAC40 - https://www.dailyfx.com/forex/fundamental/article/special_report/2020/05/27/FTSE-100-SP-500-CAC-40-Forecasts-Analyzing-Signals-in-Positioning.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/5yVyQF6Jix
  • Japan compiles new stimulus package of 117.1 trillion #Yen, new spending in second extra budget is 31.9 trillion Yen -BBG citing relevant document
  • Emerging market currencies haven’t been treated equally by the effects of global contagion, even if most have suffered to some degree. However withdrawal of investment flows could hit them all. Get your market update from @DavidCottleFX here:https://t.co/QzNoNYgMgP https://t.co/jTtYhKosIa
  • China's #Yuan falls 0.28% to 7.1560/USD which is the weakest since September 2019 -BBG
  • Silver has been beaten handily by gold in the rush to haven assets inspired by the contagion. However, the gold/silver ratio was rising steadily before this crisis and will probably continue to do so. Get your #silver market update from @DavidCottleFX here:https://t.co/00DiZn6XZS https://t.co/Ep6p4HgiAU
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Gold: -0.01% Silver: -0.28% Oil - US Crude: -1.25% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/uGnOx2D3QE
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.05% 🇨🇭CHF: -0.08% 🇨🇦CAD: -0.10% 🇪🇺EUR: -0.16% 🇳🇿NZD: -0.17% 🇦🇺AUD: -0.20% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/1fVY4dfYMN
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.52%, while traders in US 500 are at opposite extremes with 76.00%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/HZ4bR3qFl2
  • Hey there traders, if you missed this week's session on IGCS where I discussed the #SP500, #FTSE100 and #CAC40, check out the recording on YouTube here - https://t.co/CJhhtY5WDJ
  • RBNZ Governor Orr: Is 'early days' for business lending schemes, expects schemes to be used more in coming months. Some payments from schemes put into bank deposits -BBG
Dr. Copper in the House?

Dr. Copper in the House?

2016-03-15 15:50:00
Kristian Kerr, Sr. Currency Strategist
Share:

Price & Time covers key technical themes daily and can be delivered to your inbox each morning by joining the distribution list: Price & Time

Talking Points

  • Copper continues to flirt is important upside pivot
  • Risk rally almost over or just the beginning?

Dr. Copper in the House?

Dr. Copper in the House?

One of the most overused sayings in financial research is that “Copper has a PHD in economics”. In other words, the metal is a good bellwether for the true state of the global economy because of its widespread use. I think the advent of things like PVC has probably cut a little bit into the metal’s predictive value, but it is still a very useful market to keep tabs on (especially with central banks at war with deflation).

Looking for real-time positioning data? Find out HERE

The 18%+ rally in the metal since January has been accompanied by a more than 50% rise in the price of Brent Crude and an 11% rally in “society’s mood barometer” the S&P 500. The SPX actually managed to finish last week above its 200-day moving average so the obvious question on most technicians’ minds is whether “pro-risk” markets are starting back up for real this time or not. As positive as some of these other markets look, Copper still suggests at least some caution is required as the commodity failed earlier in the month at a confluence of the 200-day moving average, an internal trendline of the August/September lows and the top of the 1-year standard deviation channel. On the positive side, I like where the commodity found support back in January as the 1.94/1.97 area marked a nice convergence of the 78.6% retracement of the 2001 – 2011 advance and a trendline connecting the early 2000’s lows with the 2008 low on the continuous futures chart. If the market is going to mount a more serious recovery then that is probably the spot you want to see it commence from. A confirmed inverse head & shoulders on the daily and weekly charts doesn’t hurt things either, but the market has reached the point “where the rubber meets the road” in a sense as the zone between 2.26 and 2.29 is precisely where one would expect the broader downtrend to try and reassert itself. The next few days/weeks look critical in this regard, as traction over 2.29 opens the door to another important leg higher in the metal and probably in risk. A continued inability to get through there and the odds are we head back down – possibly hard. Stay tuned.

What is the #1 mistake most FX traders make? Find out HERE.

--- Written by Kristian Kerr, Senior Currency Strategist for DailyFX.com

To contact Kristian, e-mail instructor@dailyfx.com. Follow me on Twitter @KKerrFX

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

DISCLOSURES

News & Analysis at your fingertips.