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
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
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
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
Mixed
GBP/USD
Mixed
USD/JPY
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
More View more
Real Time News
  • RT @DanielGMoss: Historical comparison of the #ASX200 during the #GFC and the #GreatLockdown may offer a glimpse of what may lie ahead for…
  • Excellent take on the #ASX200 from my colleague @DanielGMoss using historical comparisons to the 2008 GFC. Highly recommend a read below! 👇 https://t.co/aEJq67wBMT
  • The $AUD may suffer as relations between Australia and China deteriorate amid dwindling growth prospects. Euro traders will be closely watching progress in talks about a €500b recovery fund proposal. Get your market update from @ZabelinDimitri here:https://t.co/LkEFJViPWY https://t.co/1X34MD9j2R
  • Signals from retail trader positioning 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. Get your European #equities update from @ddubrovskyFX here:https://t.co/gepciUHqxT https://t.co/BAJ9f1nTwE
  • 🇯🇵 Retail Sales YoY Actual: -13.7% Expected: -11.5% Previous: -4.7% https://www.dailyfx.com/economic-calendar#2020-05-28
  • 🇯🇵 Industrial Production YoY Prel Actual: -14.4% Previous: -5.2% https://www.dailyfx.com/economic-calendar#2020-05-28
  • 🇯🇵 Retail Sales YoY Actual: -13.7% Expected: -11.5% Previous: -4.6% https://www.dailyfx.com/economic-calendar#2020-05-28
  • Heads Up:🇯🇵 Retail Sales YoY due at 23:50 GMT (15min) Expected: -11.5% Previous: -4.6% https://www.dailyfx.com/economic-calendar#2020-05-28
  • Heads Up:🇯🇵 Industrial Production YoY Prel due at 23:50 GMT (15min) Previous: -5.2% https://www.dailyfx.com/economic-calendar#2020-05-28
  • 🇯🇵 Unemployment Rate Actual: 2.6% Expected: 2.7% Previous: 2.5% https://www.dailyfx.com/economic-calendar#2020-05-28
Video:  Rallies from Risk Trends, Dollar and Aussie Dollar Cool

Video: Rallies from Risk Trends, Dollar and Aussie Dollar Cool

2015-04-08 00:05:00
John Kicklighter, Chief Strategist
Share:

Talking Points:

• Equities and Yen crosses climbed to start the week, but momentum has cooled as resistance comes into view

• The Australian Dollar posted its biggest rally in weeks after an RBA hold, but how does it rally?

Euro faces Greek timelines, the Dollar FOMC minutes and Yen a BoJ decision in the upcoming session

Sign up for a free trial of DailyFX-Plus to have access to Trading Q&A's, educational webinars, updated speculative positioning measures, trading signals and much more!

This past session opened to a strong moves for the S&P 500, Dollar and Aussie pairs. However, each of those drives seemed to lose traction heading into new session. Most distinctly motivated was the Australian currency which rallied after the RBA held its benchmark rate at 2.25 percent against a hefty market consensus for a follow up 25 bp cut to February's easing. A 'no change' move isn't as motivating as a proactive move like a hike or a cut. To leverage follow through, pair selection is particularly important. For the S&P 500's post-NFP rally and Dollar's data supported run, conviction for trend development was even less convincing. With more significant technical levels showing up across currencies and markets, next steps may require a stronger push but could also feed longer drives. Can the FOMC minutes spur the Dollar, will Greece milestones purge the Euro, does the BoJ decision direct carry traders to a reality of a stimulus plateau? We discuss these themes and their complimentary technical levels in today's Trading Video.

Sign up for John’s email distribution list, here.

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

DISCLOSURES

News & Analysis at your fingertips.