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
Bearish
Oil - US Crude
Bearish
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
Bullish
GBP/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
USD/JPY
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
More View more
Real Time News
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Gold: 0.07% Silver: -0.25% Oil - US Crude: -0.82% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/24SAvh8ude
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here: https://t.co/ZNs4Qi8ieG https://t.co/egstowtltH
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.12% 🇬🇧GBP: 0.09% 🇪🇺EUR: 0.09% 🇦🇺AUD: 0.04% 🇨🇦CAD: 0.01% 🇳🇿NZD: -0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/D9tyhgy0CG
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.65%, while traders in Wall Street are at opposite extremes with 71.89%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/YldZ1a7abi
  • Update on #Cryptocurrencies #BITCOIN -2.72% #BITCOINCASH -5.01% #ETHEREUM +5.15% #RIPPLE -4.21% #LITECOIN -0.24% #DOGECOIN -5.15%
  • Tokyo Governor Yuriko Koike asked central government to declare state of emergency -BBG
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here: https://t.co/e4CnobJCss https://t.co/EXYkozlj21
  • 🇯🇵 Foreign Bond Investment (17/APR) Actual: ¥906.5B Previous: ¥1715.5B https://www.dailyfx.com/economic-calendar#2021-04-21
  • Heads Up:🇯🇵 Foreign Bond Investment (17/APR) due at 23:50 GMT (15min) Previous: ¥1714.4B https://www.dailyfx.com/economic-calendar#2021-04-21
  • Fitch Ratings: Australia-China Trade risks are mitigated by co-dependencies -BBG
Despite USD Slide and Risk Shake, USDJPY Holds 100 and Oil Climbs

Despite USD Slide and Risk Shake, USDJPY Holds 100 and Oil Climbs

John Kicklighter, Chief Strategist

Talking Points:

  • The Dollar extended its drop through Thursday despite another round of Fed commentary attempting to revive hawks
  • Another slide in the S&P 500 and risk fails to gain traction as market languor confounds speculators
  • Oil extends a remarkable six-day run despite dubious fundamentals and general quiet, drags USD/CAD with it

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

Unfulfilled threats - that is what we keep running into with these markets. The S&P 500 made a threat to turn the tide on risk trends this week with a wedge break from the high perch of record highs. Momentum would never materialize in the move, however, and other risk oriented assets have returned to their low-volume grind higher. Conviction continues to elude us - bullish or bearish - and it will likely remain that way until the market ranks fill out. Through the final trading day this week, there is little scheduled event risk that would seem to tempt traders in for a strong push before the weekend. Looking a little further out though; seasonal change, fundamental motivation and speculative pressure take a more ominous position.

Where there seemed little serious concern about a turn in risk trends, hesitation for USD/JPY strikes a very different tone. The pair's parity (100) level continues to hold, but that seems to generate more speculation and attention. The clash between failing conviction in monetary policy meets the potential for desperate maneuvers for the Japanese authority; and traders are unsure how such a skirmish would play out. This pair stands at the center of many fundamental avenues - monetary policy, risk trends, currency manipulation, technical influence, market depth - and should thereby be near the top of our 'watch list'.

With the final day of trade ahead, the docket doesn't offer up any noteworthy fundamental sparks. That works with the general quiet across the markets to reinforce technical boundaries. Pairs like USD/JPY, AUD/USD, NZD/USD, USD/CAD and USD/CHF stand at their respective boundaries. For USD/CAD, there is motivation in the form of US Oil which has advanced for a robust six consecutive sessions for a cumulative 16 percent climb. Defying its own fundamental conditions, further advance can generate collateral. We look at market conditions versus primed pairs 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