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
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
Bullish
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
Bullish
More View more
Real Time News
  • Fed's Daly: - Bottlenecks are transition dynamics of a normal economy - Access to childcare, schools hindering worker return - Job stability vs predictability hurting worker return - Hopeful economy will climb out of virus hole by next year
  • Ten-Year US Treasury Yield in Focus as Inflation Data Looms - #US10Y chart https://t.co/g8WwyeCp1U
  • Ten-Year US Treasury Yield in Focus as Inflation Data Looms - #US10Y chart https://t.co/hngk6zm10q
  • Heads Up:🇺🇸 Fed Bostic Speech due at 17:15 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-05-11
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 89.57%, while traders in GBP/JPY are at opposite extremes with 69.65%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/QVIJOsuHtz
  • Heads Up:🇺🇸 Fed Daly Speech due at 17:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-05-11
  • Fed's Brainard: -Enhanced jobless benefits don't appear to be holding back job seeking -Good reason to think higher inflation will be transitory -Would not hesitate to act if inflation flared too much -Household balance sheets look 'extremely healthy,' doesn't see housing bubble
  • USD/CAD appears to be on track to test the September 2017 low (1.2061) after clearing the January 2018 low (1.2247). Get your $USDCAD market update from @DavidJSong here:https://t.co/wIA51KNqNz https://t.co/oREPYOH46E
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Silver: 0.75% Oil - US Crude: 0.06% Gold: -0.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/nPjfZ8pcg5
  • Fed's Brainard: - Important to communicate clearly when substantial further progress on goals has been made - Says outlook is bright, expects to continue making progress on Fed goals, but still far from reaching that point - Labor demand and supply recovering at different speeds
Strategy Video: China's Yuan Devaluation Pains Aussie Dollar, Feed FX Market Volatility

Strategy Video: China's Yuan Devaluation Pains Aussie Dollar, Feed FX Market Volatility

John Kicklighter, Chief Strategist

Talking Points:

• The PBoC spurred the biggest Yuan plunge in years after announcing a 1.9 percent drop in the Yuan fix rate

• A revaluation on China's currency carries heavy implications for trade partners like Australia and New Zealand

• This move can be viewed as a further escalation of the simmer 'currency wars' which inflate FX volatility

Want to develop a more in-depth knowledge on the market and strategies? Check out the DailyFX Trading Guides we have produced on a range of topics.

Driving the Yuan sharply lower carries far broader implications for the global financial markets than just bolstering China's economic prospects. For the country at the epicenter of the policy shift, the risk of a backtrack on years of market liberalization may indicate a struggle to manage a soft landing for the economy. For trade partners, the implications of more expensive exports was felt immediately as currencies like the Australian Dollar, New Zealand Dollar and Japanese Yen dropped. Meanwhile, established reserve currencies - Dollar, Euro, Pound - took higher as a future SDR competitor seemed to dim. In general, the implications of escalating currency war efforts feeds a sense of uncertainty and thereby volatility in the FX markets. We look at the longer-term implications of China's move in today's Strategy Video.

Sign up for John’s email distribution list, here.

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

DISCLOSURES