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. See our updated Privacy Policy here.

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
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
More View more
Real Time News
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here: https://t.co/rz7fqi8ZEe https://t.co/Gps2Xp32h9
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here: https://t.co/kODPAfJE79 https://t.co/hftCEho1lM
  • Gold price action is primed for volatility next week with the Fed decision on deck. How real yields and the US Dollar react to fresh guidance from Fed officials will be key for gold outlook. Get your weekly gold forecast from @RichDvorakFX here: https://t.co/MzaIl7tPmZ
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here: https://t.co/arxYmtQeUn https://t.co/rFlQtyQS81
  • Canadian Dollar snapped a three-week losing streak after USD/CAD stalled at key technical resistance. Get your CAD weekly forecast from @MBForex here: https://t.co/BPHuKecwnz https://t.co/73OmuCKfU9
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here: https://t.co/CNtqrKWDBY https://t.co/KzhQnGiLyt
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/cuneuJNZlH
  • Get your snapshot update of the of top level exchanges and key index performance from around the globe here: https://t.co/d8Re5anlG5 https://t.co/danCiP5vqK
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/9S5tXIs3SX https://t.co/JhYoQ7I19K
  • The Nasdaq 100 index is aiming to breach a key resistance level at 14,950 for a second time. A successful attempt may open the door to further gains, although the MACD indicator flags signs of weakness. Get your equities forecast from @margaretyjy here: https://t.co/BEYupi32qB https://t.co/PWeXE8tZVY
Yellen Rejects Dollar Save, Brexit Talk Rears Pound Volatility

Yellen Rejects Dollar Save, Brexit Talk Rears Pound Volatility

John Kicklighter, Chief Strategist

Talking Points:

  • Janet Yellen's speech Monday was the last strategic opportunity for the Fed to change rate forecasts - she demurred
  • Brexit speculation explodes to start the week with another poll suggesting the 'Leave' campaign gaining
  • The risk of an 'accidental' volatility event triggering larger financial move remains dangerously high

See how retail traders are positioning in the majors using the SSI readings on DailyFX's sentiment page.

Fed Chair Janet Yellen didn't make an effort to dissuade the recent surge in certainty that the central bank would be on hold June 15th. However, her remarks notably didn't undermine the option to hike rates in July or one of the subsequent meetings thereafter. With no other official high-level central bank speech or definitive event risk scheduled before the central bank gathering, expectations will likely remain anchored to no change at this month's gathering. However, as is often the case with event risk of this scale, speculation will turn to the future and timing for the Fed's persistent hawkish views. The question for Dollar traders is what can shape those expectations with any authority short of the official FOMC forecasts next week?

Meanwhile, another wave of unscheduled Brexit speculation sent the British Pound reeling to start the week. GBP/USD tumbled to hit (and hold) its 100-day moving average and the EUR/GBP gapped higher to start the week. The genesis of this sharp move was a YouGov poll Monday that showed the 'Leave' camp at 45 percent and only 41 percent behind 'Remain'. Yet, when the Tuesday Times' version of the same poll showed a 43 percent backing for 'Remain' and only 42 percent 'Remain'; the market didn't respond with the same abruptness. This is a side effect of volatile market conditions. Medium to long-term trading will be difficult under such circumstances.

Moving forward, Brexit will remain as active and threatening a risk as we opened with; but Fed speculation will likely cool. Scheduled event risk finds important Australian and Chinese data which should be of particular interest to those with Australian Dollar trades - or plotted setups. While we jump from headline to headline, it is important to keep track of thematic concerns like risk trends. The seismic fundamental shifts for the market rarely offer forewarning, so we need to keep tabs. We discuss what's moving in the markets in today's Trading Video.

To receive John’s analysis directly via email, please SIGN UP HERE

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

DISCLOSURES