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
Mixed
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
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • Fed's Brainard: - Important to communicate clearly when substantial further progress on goals has been made - Says outlook is bright, expects to continue making progress on Fed goals, but still far from reaching that point - Labor demand and supply recovering at different speeds
  • ECB's Knot: - Banks have withstood covid stress test 'pretty well' - Ground for euro-area recovery is getting firmer - Pent up demand is 'significant' upside risk $EUR $EURUSD $EURGBP
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.31% 🇬🇧GBP: 0.24% 🇯🇵JPY: 0.24% 🇳🇿NZD: 0.07% 🇨🇦CAD: 0.06% 🇨🇭CHF: -0.14% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/rBmlc0ErCB
  • Fed's Brainard: -April jobs data was a reminder that the recovery will be uneven, hard to predict -Strong rebound in hiring still likely -Fed policy driven by economy's actual performance is right strategy -Temporary jump in inflation unlikely to undo longer trends
  • Fed's Brainard: -Inflation tough to predict, may be transitory -Important to stay patiently focused on reaching goals -Data shows price expectations well anchored at 2% -Fed has tools and will react if inflation accelerates too much -Supply/Demand bottlenecks add to uncertainty
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.23% FTSE 100: 0.20% France 40: 0.18% US 500: -0.95% Wall Street: -1.32% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/0hpabRfty5
  • Heads Up:🇺🇸 Fed Brainard Speech due at 16:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-05-11
  • RT @carlquintanilla: * WHITE HOUSE TO ANNOUNCE NEW PARTNERSHIP WITH RIDE SHARING COMPANIES $UBER, $LYFT TO MAKE ALL RIDES TO AND FROM VACCI…
  • The Nasdaq 100 to Dow ratio took another serious hit this morning to readily clear the floor of its 10 months of congestion. Where is Hans Gruber when you need him? https://t.co/kwGiIMgFM8
  • Lumber futures pacing back-to-back declines for the first time since mid-March. Read up on the lumber market here: https://www.dailyfx.com/forex/fundamental/article/weekly_spotlight/2021/05/07/will-lumber-prices-prick-us-housing-bubble-or-will-low-rates-prevail.html $LB $LBS #Commodities https://t.co/O4zA7u5yaH
Dramatic S&P 500 Swing on China News a Sign of a Broader Risk Move?

Dramatic S&P 500 Swing on China News a Sign of a Broader Risk Move?

John Kicklighter, Chief Strategist

Talking Points:

• China has dropped its Yuan reference rate by more than 1 percent for three consecutive days

• A currency devalue by the world's second largest economy has many crying 'currency war'

• Equities tumbled on day two of the Yuan drop, but a rebound for SPX and company may signal understanding

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!

Global equities tumbled this past session following the second day of the PBoC's Yuan policy adjustment. The S&P 500 experienced the same pang of panic as its global counterparts; but by the end of the New York session, it had retraced most of its losses. For those keeping track of the 'risk' score card via fear of Chinese volatility or a global currency war, this looks like manic-level indecision. However, this may simply be a rebalancing and shift to neutral for speculative appetite rather than a projection of risk appetite or aversion. The coming session will determine whether sheer volatility will unsettle the seasonal lull or China's efforts will simply be absorbed as a necessary change. Meanwhile, the Dollar is moving as rate speculation stirs and Greece's headlines may shift from bailout progress to painful recession. We cover these themes and market opportunities in today's Trading Video.

PBOC YUAN REFERENCE RATE FIX STIRRING SMALLER MARKET REACTIONS

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