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
NZD/USD Rallies After RBNZ, S&P 500 Keeps Crawling to New Highs

NZD/USD Rallies After RBNZ, S&P 500 Keeps Crawling to New Highs

John Kicklighter, Chief Strategist

Talking Points:

  • Risk appetite trends continues to mark time with a slow but steady climb led by yet another S&P 500 11-month high
  • The Dollar's tumble has run short on steam as we officially enter the communications blackout pre-FOMC
  • NZD is this morning's top mover with an RBNZ hold that sent the currency soaring - the question is does it last?

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

Fresh multi-month highs from risk benchmarks like the S&P 500, US oil prices and high-yield ETFs are a daily occurance this week. Yet, where is the momentum? Clearing technical boundaries often draws in speculative momentum from either the opportunistic speculator or the value-oriented investor. Neither crowd seems to be particularly enthusiastic in the push higher. The tacticians worry about the open room to run already pushing upper boundaries on sentiment while the investors doubt the fundamental backdrop and increasingly lower their confidence in the world's central banks.

The conflict between technical progress and participation creates difficult trading conditions. The presumption for strong trend is a fundamental scenario that looks highly unlikely while an effort to pick a top risks presuming a market that can't keep to the academician's belief that markets always act rationally. Neither is realistic.

Meanwhile, individual currencies and markets are presenting bright spots that deviate from the uneasy quiet of the broader financial system. Early Thursday morning, the RBNZ rate decision generated the most recent monetary policy-driven move. Though they held rates unchanged at 2.25 percent, the Kiwi surged in the wake of the move. NZD/USD and EUR/NZD pressured key technical moves, but is there follow through to these moves or will there be similar pace as the US Dollar and Aussie currency after the NFPs and RBA rate decision respectively? We look at trading conditions and the opportunities is supports and thwarts 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