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
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
Gold
Bullish
GBP/USD
Bullish
USD/JPY
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
More View more
Real Time News
  • NDRC halts activities under China-Australia economic dialogue [update via Bloomberg] - cites Australia's disruption of cooperations with China $AUDUSD slipping lower, falling to lows of the day, China is AU's largest trading partner, feeling disruption woes #AUD #NDRC https://t.co/xQ8W11UVL2
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Gold: 0.00% Oil - US Crude: -0.13% Silver: -0.37% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/rO6XynukTE
  • The US Dollar still remains under pressure against most ASEAN currencies heading into May. A busy week awaits the Indonesian Rupiah, Thai Baht, Philippine Peso and Singapore Dollar. Get your market update from @ddubrovskyFX here:https://t.co/Ed95511S7Y https://t.co/8lJQ0eheXN
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.13% 🇦🇺AUD: 0.05% 🇪🇺EUR: 0.03% 🇬🇧GBP: 0.01% 🇨🇭CHF: -0.05% 🇯🇵JPY: -0.13% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/5vSj1gpuhD
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 89.94%, while traders in France 40 are at opposite extremes with 81.32%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/w9YlTeEscN
  • Dogecoin continues to trade higher with explosive energy, attesting to the cryptocurrency's new clout. Meanwhile, Bitcoin and Ethereum sink. Get your market update from @FxWestwater here:https://t.co/ohw714KqB2 https://t.co/7tbKUVpC3F
  • S&P 500 Index May Lead Nikkei 225 and ASX 200 Higher Amid Reflation Theme https://www.dailyfx.com/forex/market_alert/2021/05/06/SP-500-Index-May-Lead-Nikkei-225-and-ASX-200-Higher-Amid-Reflation-Theme.html https://t.co/7bBBmKeVUR
  • RT @Sonnenshein: ANNOUNCEMENT: We're excited to kick off our partnership with the @Giants making @Grayscale the first #crypto sponsor of an…
  • Natural gas prices moved higher, capturing a long-term trendline that could support the heating commodity's price in the coming weeks as colder temps support fundamental side. Get your market update from @FxWestwater here:https://t.co/tGUDJE9hn0 https://t.co/Wpu8eWHIXz
  • Heads Up:🇬🇧 Local Elections due at 00:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-05-06
Will Animal Spirits Rouse Volatility Before the ECB, NFPs Hit?

Will Animal Spirits Rouse Volatility Before the ECB, NFPs Hit?

John Kicklighter, Chief Strategist

Talking Points:

  • Global shares traced out another measured but clear decline Tuesday lead by the still-lofty S&P 500
  • Top event risk this past session including an RBA rate decision, Brexit vote and US trade data failed to spur volatility
  • Event risk ahead from China trade to ADP jobs to the UK budget keeps a simmer as we await the ECB, EU Summit, NFPs

Sign up for the live NFPs coverage and see what other live coverage is scheduled to cover key event risk for the FX and capital markets on the DailyFX Webinar Calendar.

The S&P 500, DAX and FTSE 100 continue to track lower, but operating with a measured pace. Given the unease may hold over risk trends most recent surge higher, this slip is testing the very animal spirits that have supplied lift in the absence of traditional fundamentals. Further out the risk spectrum, assets like emerging market currencies and the ETF, high yield fixed income, and carry trade were flagging well before stocks capitulated. And yet, speaking to how engrained skepticism is throughout the system; volatility readings from FX to commodity to emerging markets have collapsed this past week to catch up to the already-basement level piloted by the VIX.

On the fundamental front, themes are stable enough to keep trends at bay. Neither risk trends nor trade policy conflicts are fueling the fires that are smoldering just around the edges of the market. Event risk on the other hand, has attempted to revive at leas some degree of volatility to the landscape. This past session had a range of event risk and data to work with. The RBA rate decision was the most consolidated listing on the docket, but the central bank's neutral stance offered little foothold for either bulls or bears. The House of Lords delivered the Prime Minister her second unfavorable vote which pushes the pressure to the Commons to salvage a Parliament-government standoff should the Brexit negotiations run into troubles. It was the trade data that drew the greatest interest. The US deficit unexpectedly swelled to its biggest negative gap in five years - though this was due to both a jump in exports and imports.

Ahead, the docket will act to distract and deflate as much as it does to leverage volatility. There are noteworthy listings immediately ahead. The private US payrolls figure from ADP and announcement of the UK's budget are particularly high profile. Yet, compared to what is due for the final 48 hours of the trading week, they are essentially distractions to what is ahead. Later this week we have the EU Summit and ECB combo as well as NFPs Friday. The week forward, the FOMC rate decision is leveraging a 98 percent probability of a hike. Anticipation can pump the breaks on significant market developments short of systemic shifts in risk trends or a complete reversal on trade policy. Traders should keep focus on measured technical conditions or those assets that aren't holding out for the next round of high profile event risk. We discuss the speculative pocked market 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