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
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
Mixed
Wall Street
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
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • #Bitcoin Tumbles Amid Xinjiang Blackout, Possible US Treasury Investigation - https://www.dailyfx.com/forex/market_alert/2021/04/19/Bitcoin-Tumbles-Amid-Xinjiang-Blackout-Possible-US-Treasury-Investigation.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr $BTC https://t.co/zs4eQVrKEP
  • 🇯🇵 Balance of Trade (MAR) Actual: ¥663.7B Expected: ¥490B Previous: ¥215.9B https://www.dailyfx.com/economic-calendar#2021-04-18
  • Trading Forex is not a shortcut to instant wealth, excessive leverage can magnify losses, and sentiment is a powerful indicator. Learn about these principles in depth here: https://t.co/lZFM8yG5lv https://t.co/j7No5uPhYF
  • 9 out of 11 S&P 500 sectors ended higher, with 70.9% of the index’s constituents closing in the green. Materials (+1.18%), utilities (+0.81%) and consumer discretionary (+0.78%) were among the best performers, while energy (-0.90%) and information technology (-0.03%) lagged. https://t.co/2qbzKRyx2B
  • 9 out of 11 S&P 500 sectors ended higher, with 70.9% of the index’s constituents closing in the green. Materials (+1.18%), utilities (+0.81%) and consumer discretionary (+0.78%) were among the best performers, while energy (-0.90%) and information technology (-0.03%) lagged. https://t.co/uAt7OhZvYM
  • There's no question about it, trading brings about much emotion. Knowing how to control emotions while trading can prove to be the difference between success and failure. Learn more about managing emotion in trading here: https://t.co/FC7CHp2y70 https://t.co/UvcEzMKGmI
  • What are some key takeaways for trading gold? Get your free insight here: https://t.co/lnxaQOsgid https://t.co/GOBTKkCEKh
  • *Reminder: Weekly Strategy Webinar Monday morning at 8:30am ET (12:30GMT) on DailyFX - https://t.co/lxd5fZ5LG7 Mid-Weekly Technical Update on Wednesday at 9:30am ET (13:30GMT) with IG - https://t.co/8SFBJxwo30
  • Forex trading, which is the act of exchanging fiat currencies, is thought to be centuries old – dating back to the Babylonian period. Learn about the history of Forex here: https://t.co/1ZR5OCfY3u https://t.co/NMiJrp6wmP
  • Brush up your knowledge on trade-wars with this tool from DailyFX research briefly outlining trade-war history dating back to the early 1900s here: https://t.co/bZEFtoQJgE https://t.co/RT9Z4K8xCy
Forex Trading Video: Dollar Extends Rally into Holiday Liquidity Drain

Forex Trading Video: Dollar Extends Rally into Holiday Liquidity Drain

John Kicklighter, Chief Strategist

Talking Points:

• Despite the expected drain on liquidity with the Thanksgiving holiday, the Dollar charged to a fresh 13-year high

FOMC minutes and a range of rushed US data offered an optimistic view, but lack for real fundamental support

• An expected increase in deficit and decrease in growth forecasts from UK Autumn statement doesn't alter Pound course

See the DailyFX Analysts' 4Q forecasts for the Dollar, Euro, Pound, Equities and Gold in the DailyFX Trading Guides page.

With liquidity running short on time as the US holiday period rushed on, the Dollar made a remarkable extension to its already impressive rally this past session. The ICE DXY Dollar Index posted another 0.7 percent climb which entailed gains against all of its benchmark's major counterparts with the exception of the Pound. That leaves the Index at fresh 13 year highs and in contact with technical barriers that we have to look back decades to appreciate the scope on. That said, such a move before a market drain doesn't provide a stronger platform for late-in-the-day participation.

I decided to remain on the sidelines through the Dollar's due to my concern for the source of its strength. A combination of cannibalized growth expectations from global counterparts and a leveraged rate forecast has provided enough backing to lift the currency; but this is not a particularly robust backdrop to project strength through different scenarios into the future. The backdrop is certainly not appealing enough to pull me into a trade during the liquidity lull we will see through the Thanksgiving holiday. Event risk this past session between durable goods and housing data is positive, but lacking for depth. The FOMC minutes did reinforce the forecast for a December hike, but progress depends on what happens in 2017 and that will require nothing short of a clear inflation surge or definitive forecast given by the Fed itself at the December 14th meeting.

As markets stew on the mix of fundamental and technical potential moving forward as the US rests, my interest will be on the conviction that rate forecasts and questionable growth disparities generate for a pair like EUR/USD. This most liquid of crosses is at the bottom of a two-year range that is itself a low not seen in over a decade. A break or reversal here will be decided in more active and liquid conditions. Meanwhile, I remain skeptical of the risk run especially for the S&P 500 and USD/JPY (representing the Yen crosses). We assess the scenarios that can guide these benchmarks as well as review the comparatively reserved response from the Pound to the Autumn Statement from the UK Chancellor of the Exchequer in today's Strategy 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