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
Bullish
Oil - US Crude
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
Wall Street
Bullish
Gold
Mixed
GBP/USD
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
USD/JPY
Mixed
More View more
Real Time News
  • The US Dollar is still struggling against most ASEAN currencies. USD/SGD remains downside-focused despite recent gains. USD/THB is eyeing a triangle. USD/IDR and USD/PHP may point lower. Get your market update from @ddubrovskyFX here:https://t.co/6Nvvmz8h6d https://t.co/TYsfOXHrro
  • (Weekly Fundamental) Australian Dollar Outlook: AUD/USD May Rise on Dovish Fed Speak After Huge NFP Miss #AUD $AUDUSD https://www.dailyfx.com/forex/fundamental/forecast/weekly/aud/2021/05/07/Australian-Dollar-Outlook-AUDUSD-May-Rise-on-Dovish-Fed-Speak-After-Huge-NFP-Miss.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/L9pERwjTqh
  • Bitcoin is struggling to extend April’s bounce while Ethereum and Litecoin are exhibiting signs of momentum exhaustion. What are key technical levels to watch for ahead? Find out from @ddubrovskyFX here:https://t.co/PnZId4xOh2 https://t.co/ZTYoxdBxLl
  • The Indian Rupee has been rising despite a surge in local Covid cases, owing to rising yields amid a temporary flood of US Dollars into the banking system. INR remains at risk, eyeing CPI data. Get your market update from @ddubrovskyFX here:https://t.co/6r7hahVtx4 https://t.co/a0z46Q0Mn4
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfJhp91 https://t.co/tnF1RME8gJ
  • Top event risk on my radar for the week ahead: Musk on SNL (Sat); run of Fed speak with Brainard, Williams, Bostic (Tues); US CPI and UK GDP (Wed); Mexico central bank rate decision (Thur); US earnings - PLTR, BABA, ABNB, DASH, DIS (Tues-Thur). What are you watching?
  • It starts. This man is living the life. https://t.co/YhD4oMNAFG
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.82% 🇦🇺AUD: 0.77% 🇨🇭CHF: 0.75% 🇳🇿NZD: 0.62% 🇯🇵JPY: 0.46% 🇨🇦CAD: 0.23% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/j5I6Gut0CR
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Gold: 0.85% Silver: 0.53% Oil - US Crude: -0.18% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/wZsuyfwuv1
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 88.33%, while traders in Wall Street are at opposite extremes with 77.43%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/IrlL0LEJe3
S&P 500 Holds Tense Range Despite NFPs, GBP/USD Settles After Plunge

S&P 500 Holds Tense Range Despite NFPs, GBP/USD Settles After Plunge

John Kicklighter, Chief Strategist

Talking Points:

• September's NFPs couldn't leverage a breakout from the dwindling S&P 500 range this past week, extending anxiety

• After the Pound's flash crash, GBP/USD settled significantly higher than its Friday low - though tension remains

• Themes like unresolved risk trends, fading monetary policy confidence and Brexit will lead with few key events

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

When markets are this wound up, there are bound to be fits of volatility as the anxiety spills over. This past week's top headline was the GBP/USD flash crash which saw an extraordinary 6 percent drop in one of the world's most liquid currency crosses in the span of only a few minutes. While fundamentals certainly contributed to this extreme move, it was the underlying market conditions that were the true culprit; and that is a more universal state for the financial system than many likely appreciate.

In contrast to the fireworks from the Cable, one of the benchmarks for the broader financial system closed out the week without the resolution it seems to be careening towards. The S&P 500 has worked its way back into a consolidating wedge that is straining to contain the slowly growing level of volatility in the financial system. September US payrolls were staged as a possible catalyst to break the tension - for better or worse - but the event risk simply could not muster the resolve. NFPs were modestly lower than expectations but still on pace for a steady growth in the US labor force. An uptick in the jobless rate from multi-year lows was met with similar indifference, while the average hourly earnings contributed modestly to year-end rate hike forecasts. Now the pressure behind speculative exposure is left to troubling market conditions (thinning liquidity, shifting thematic trends, fading confidence in monetary policy) without the convenience of a particular fundamental pin to prick the distended balloon.

Trading approach should be dictated by the conditions we face. Growing uncertainty yet a tendency towards ranges should make us more cautious with lower exposure, shorter duration trades and more realistic stops and targets. This places different setups in a certain hierarchy. EUR/USD, as quiet as it seems, offers a greater buffer to many of the most extreme speculative outlets. In contrast, USD/JPY and AUD/USD have supplied more volatility; but they represent pairs that can be readily jolted by sudden tide changes. Sentiment will remain a primary concern for the market; but traders should also keep tabs on faltering confidence in monetary policy, Fed rate speculation and Brexit influence among other themes. We look at the practical trading approaches for the market in this weekend Trading Video.

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

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

DISCLOSURES