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
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
Bullish
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
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
  • Protests in Colombia may continue to pressure the Peso, but surging commodity prices and a weaker Greenback could curb USD/COP gains. Get your market update here:https://t.co/vcVH75xuKI https://t.co/kEvbsagB4a
  • Money never sleeps.... https://t.co/mAkpWd2M3O
  • The US exchanges are closed and now we have to turn over to the cryptocurrency charts to monitor developments in risk trends over the weekend. Unfortunately, it can be difficult to separate systemic sentiment influences vs isolated issues (like a celebrity's tweet about a coin)
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.93% 🇦🇺AUD: 0.72% 🇪🇺EUR: 0.55% 🇨🇦CAD: 0.50% 🇬🇧GBP: 0.32% 🇯🇵JPY: 0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/rzD7Gp4VIC
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 1.17% Gold: 0.92% Oil - US Crude: 0.22% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/TU8HEn8Gbk
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.44%, while traders in France 40 are at opposite extremes with 73.01%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/M5ItmLXuiw
  • The Australian Dollar plummeted more than 1.4% against the US Dollar since the start of the week with AUD/USD reversing off technical resistance at the yearly high-close. Get your $AUD market update from @MBForex here:https://t.co/72ORZ3wZwx https://t.co/zG3UzI6bRc
  • US Markets Weekly Performance: S&P 500: -1.39% Nasdaq 100: -2.34% Dow Jones: -1.14% $SPX $NDX $DJX
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: France 40: 0.58% Germany 30: 0.35% FTSE 100: 0.33% Wall Street: -0.00% US 500: -0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/TUoFzlS6AX
  • https://t.co/xBh8Jp8QRu
Critical USD and S&P Breaks Stall On Launch, Brexit Starts Today

Critical USD and S&P Breaks Stall On Launch, Brexit Starts Today

John Kicklighter, Chief Strategist

Talking Points:

  • The S&P 500's gap lower to start the week after the failure of the health care policy failed to feed a trend
  • A reversal from the DXY Dollar Index and EUR/USD has been put in jeopardy on as sentiment and rate appetite waver
  • The UK is set to officially file its intent to withdrawal from the EU (Brexit) today, is the Pound at risk?

See what live coverage is scheduled to cover key event risk for the FX and capital markets on the DailyFX Webinar Calendar.

A day after the equity and FX markets' most prominent benchmarks produced significant, bearish technical breaks; the motivation for collapse immediately evaporated. While the failure of the US healthcare reform effort will recall ghosts for markets that have driven speculation forward on the anticipation of accelerated growth, accelerated rate hikes or sheer speculative exuberance; the deeply complacent are not ready to panic just yet. Clear updates on the time table, scale and buy-in for tax reform and the supposed-$1 trillion infrastructure spending program can add serious momentum to our otherwise flippant markets. Until then, strong prevailing moves are difficult to motivate without a high profile event or systemic shift in speculative appetite. That does create a problem, however, for those looking for strategic EUR/USD or risk-oriented trade opportunities. We seem so close to the kind of move that can make the entire year. 'Wanting' and 'experiencing' are very different realities for the trader on their path to success.

With the big-picture imbalances in mind and the scheduled event risk ahead, we can make better assessments of the primed technical assessments. The S&P 500 has broken the support that carried markets higher since the outcome of the US election. That is a distinct progression of the weeks of consolidation that we have witnessed through March and once again puts traders on the defensive. Range and measured moves are still the pace to set, but keeping watch for the sudden rise of conviction is a worthy endeavor. For the Dollar's failed head-and-shoulders 'neckline' break, the uncertainty offers even greater anxiety. For the DXY Index itself, the neckline break found an 11-month rising trendline behind it to help rein in enthusiasm. That said, EUR/USD seems to still hold the former neckline of its inverse head-and-shoulders pattern as a current support. The question remains: how readily do these markets commit to trend?

Looking for event risk to help forge decisive views out of the speculative roadblock, there is limited engagement for the overarching speculative reticence. There are few events that could even hope to draw the attention of risk takers across multiple asset classes much less change the entire environment. Global trade and political policy - particularly that of the US - remains one of the most potent and untapped catalysts out there, but there are few if any milestones to track. One country's trade position will take a meaningful step towards transition today. The UK is due to deliver its official letter of intent to invoke Article 50 and start the Brexit proceedings. While this will generate plenty of news print, will it actually surprise investors? That is what we she could consider when assessing the landscape for trades. We discuss all of this and more in today's Trading Video.

To receive John’s analysis directly via email, please SIGN UP HERE

Critical USD and S&P Breaks Stall On Launch, Brexit Starts TodayCritical USD and S&P Breaks Stall On Launch, Brexit Starts Today

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES