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
EUR/USD
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
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
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
GBP/USD
Bearish
USD/JPY
Mixed
More View more
Real Time News
  • 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/cKOUmtj7Dj
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/Yl9vM7kO6a https://t.co/TnL91f7sl7
  • Human error in the forex market is common and often leads to familiar trading mistakes. These trading mistakes crop up particularly with novice traders on a regular basis. Learn about the top ten trading mistakes and how you can avoid them here: https://t.co/i8E2AXtzF3 https://t.co/cDcjl3Ue09
  • Consolidation or bull flag? A bull flag is a continuation pattern that occurs as a brief pause in the trend following a strong price move higher. Learn how to better spot these formations here: https://t.co/yOEvLjKnct https://t.co/KWOX5wSipe
  • What is your forex trading style? Take the quiz and find out: https://t.co/YY3ePTpzSI https://t.co/cwSWCpKtaj
  • Japanese candlesticks are a popular charting technique used by many traders, and the shooting star candle is no exception. Learn about the shooting star candlestick and how to trade it here: https://t.co/mfwJ0sZLTs https://t.co/zu5hMovbz6
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here: https://t.co/QszmdZFxlk https://t.co/QMKyTBOKNG
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here: https://t.co/4jsORznRTE https://t.co/aRkGoNvj6D
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here: https://t.co/t9Flsqcxo9 https://t.co/ltVTNO2sjT
  • GBP/USD clears the May low (1.3801) as the Federal Reserve forecasts two rate hikes for 2023. Get your $GBP market update from @DavidJSong here:https://t.co/WdTG2niAKz https://t.co/2j02VyH0wm
Euro Shaken but No Trend from ECB, Oil Prices Rally on Supply Drop

Euro Shaken but No Trend from ECB, Oil Prices Rally on Supply Drop

John Kicklighter, Chief Strategist

Talking Points:

  • A hold by the ECB shook the Euro and risk trends despite anticipation as monetary policy skepticism grows
  • Oil posts most impressive move on the day after US supply update craters - temporary or permanent?
  • Event risk through the final trading day should keep Pound, Euro and Canadian Dollar traders on alert

Harness the power of big data to evaluate millions of historical price points to calculate the probabilities of short-term market moves using the GSI Indicator.

High-level event risk continues to generate attention and even volatility, but general market conditions are difficult to override. The financial system is still favoring congestion and range as limitations in participation and conviction undercut the ability to run. These restraints where in full view with the ECB rate decision this past session. Considering the ECB is arguably one of the most aggressive policy authorities in the world, its effort and credibility present a distinct influence over the Euro; but it is also a considerable driver of universal risk trends beholden to global stimulus. Both currency and equities fluttered after the expected hold, but no trend was provided for.

In contrast to the high profile monetary policy event, expectations for the weekly US oil inventory figures set low expectations. Yet, a massive surprise in these statistics this past session provided more lift for crude prices than would otherwise be expected in these otherwise restrained conditions. A nearly 4.5 percent rally on the day (close to close) for the commodity showed what volatility alone can provide. The biggest weekly drop in US oil supplies in 15 years gave a more tangible foothold to a rally that has been charged so far on rumor alone. Yet, even this move will struggle for follow through given the oppressive environment and dubious source of the supply draw.

Ahead, we should keep an eye on Dollar and risk measures (Yen crosses, equity indexes, etc) as well as potential for Euro and commodities. The depth of potential in the former offers dramatic potential if not the highest probabilities. For scheduled event risk through the final session of trade this week; the Pound, Euro and Canadian Dollar are most at-risk - or opportunity laden, depending on how you view and trade it. UK trade will give a critical check to Brexit authorities, the EU will be discussing the UK divorce from its own perspective and Canadian employment is a well-known market mover with the correct level of surprise. We discuss this market movement and potential 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