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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
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
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here:
  • Canadian Dollar snapped a three-week losing streak after USD/CAD stalled at key technical resistance. Get your CAD weekly forecast from @MBForex here:
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here:
  • 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:
  • Get your snapshot update of the of top level exchanges and key index performance from around the globe here:
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here:
  • The Nasdaq 100 index is aiming to breach a key resistance level at 14,950 for a second time. A successful attempt may open the door to further gains, although the MACD indicator flags signs of weakness. Get your equities forecast from @margaretyjy here:
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here:
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here:
  • 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:
Wall of Worry Builds as Financial Markets Focus on Delta Variant - Market Minutes

Wall of Worry Builds as Financial Markets Focus on Delta Variant - Market Minutes

Christopher Vecchio, CFA, Senior Strategist

Market Minutes Overview:

  • Volatility is down, US stocks are up, and the US Dollar (via the DXY Index) keeps climbing.
  • Data from the UK suggests that the most recent wave of COVID-19 infections is not producing the same levels of deaths as the prior wave – thanks to the vaccines.
  • A quiet economic calendar for most of the week means that financial markets will continue to focus on the delta variant.

Unringing the Bell

“The toothpaste is out of the tube,” said an unnamed commentator on a major US financial media network yesterday when discussing the delta variant. I disagree, and apparently so too do US financial markets. Measures of volatility are down, the US Treasury yield curve is steepening, US equity markets are rallying sharply, and the US Dollar (via the DXY Index) continues to climb. Capital is pouring into the United States amid concerns that the delta variant will provoke a new wave of lockdowns.

But soberminded market participants are looking past the noisy headlines, apparently. The bell is being un=-rung, if you will; the toothpaste is going back in the tube. The data out of the UK suggests that the most recent wave of COVID-19 infections is not producing the same levels of deaths as the prior wave – thanks to the vaccines. And considering that the vaccine administered in the UK (AstraZeneca) has proved lower efficacy in fighting the virus than the mRNA vaccines distributed in the US (Pfizer/BioNTech & Moderna), there is good reason to believe that the building wave stateside won’t provoke another wave of lockdowns.

Perhaps equally important, we’re currently in one of the more volatile periods of the cycle. According to the Stock Traders Almanac, the middle portion of year 2 of a bull market cycle typically produces the greatest downside risk for US equities. If the bull market began in March 2020 off the lows, then that means “the middle portion of year 2” would be from July 2021 to November 2021.

There’s really no other way to put it: the delta variant is the wall of worry for markets. And as long as it sticks around as a concern, it means that stimulus will continue to flow from the Federal Reserve and the Biden administration, plain and simple.

Video Technical Notes: DXY Index

  • The DXY Index had been consolidating in a range carved out in the first week of July, between the July 6 low and July 7 high, but it appears that a bullish breakout is afoot. Bullish momentum is building, with the DXY Index above its daily EMA envelope, which is in bullish sequential order. Daily MACD is pushing above its signal line, while daily Slow Stochastics have entered overbought territory. The 85-point range suggests that the measured move above the 92.85 breakout level will see the DXY Index attempt to rally to 93.70 in the near-term. This would be a meaningful move, insofar as it would constitute a breach of the yearly high established in March at 93.44.

A Quieter Calendar

After what was the most important week of the month for economic data and events, this week is proving the exact opposite: there are only two ‘high’ rated events on the calendar through July 24. Until the European Central Bank policy meeting on Thursday, the lack of significant economic data means market participants are deprived of meaningful catalysts, likely keeping focus on the media narrative around the delta variant.

DailyFX Economic Calendar, ‘High’ Rated Events, Next 48-hours (Table 1)

Wall of Worry Builds as Financial Markets Focus on Delta Variant - Market Minutes

--- Written by Christopher Vecchio, CFA, Senior Currency Strategist

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