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
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
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
  • EU's von der Leyen: It is essential to share vaccines, to distribute vaccines, and invest in increasing vaccine manufacturing capabilities $EUR
  • 🇺🇸 Consumer Credit Change (MAR) Actual: $25.84B Expected: $20B Previous: $27.58B https://www.dailyfx.com/economic-calendar#2021-05-07
  • Heads Up:🇺🇸 Consumer Credit Change (MAR) due at 19:00 GMT (15min) Expected: $20B Previous: $27.58B https://www.dailyfx.com/economic-calendar#2021-05-07
  • Lots were caught off guard by #NFPs (including myself) The data serves a reminder why bad results are not always bad for markets Huge gains for #stocks today, #USD down, #AUD up 2022 #Fed rate hike bets keep sinking, odds down by ~50% since April Still, bond yields recovered https://t.co/lUianbwCmR
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Gold: 0.89% Silver: 0.51% Oil - US Crude: -0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/EIivWB3Yb1
  • The USD/CAD breakdown is approaching initial support hurdles just lower and we’re looking for possible inflection early in the month. Get your $USDCAD market update from @MBForex here:https://t.co/UMm5aM60gf https://t.co/rgHqmPuL4t
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 88.29%, while traders in Wall Street are at opposite extremes with 77.77%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/vd31LiB2NA
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: US 500: 0.62% Wall Street: 0.55% France 40: 0.10% FTSE 100: 0.09% Germany 30: 0.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/lxYCeemuH7
  • US 10-year breakeven rates climb to 2.5%, the highest level since 2013 -BBG $TNX $USD $DXY
  • The Dow Jones and S&P 500 jumped to all-time highs following a disappointing NFP report. Get your market update from @PeterHanksFX here:https://t.co/SIZzm3m1Sg https://t.co/qDR3Kr7k5B
What Does China's Inclusion in the SDR Basket Mean for the Markets?

What Does China's Inclusion in the SDR Basket Mean for the Markets?

John Kicklighter, Chief Strategist

Talking Points:

• The IMF announced it had approved the Chinese Yuan's inclusion into its SDR basket - making it a 'reserve'

• While the actual basket adjustment will take place next September, the symbolic implications are clear

• A brief CNH rally is not the extent of this news, the implications will be long-term and deeply rooted

Sign up for a free trial of DailyFX-Plus to have access to Trading Q&A's, educational webinars, updated speculative positioning measures, trading signals and much more!

A portion of the trading rank was disappointed by the market's response to news that the IMF had approved the Chinese Yuan's inclusion into its SDR basket. For those with a short-term view on the market, the nod to China was seen as a fast track to the 'reserve' currency designation and thereby a trading authority and interest tantamount to the Dollar or Euro. However, that is not the route this development takes. The implications are deeper, more complex and ultimately far more market-moving than just a short-term bout of volatility. Where the Chinese currency takes a 10.9 percent place in the SDR basket, the Yen and Pound are seen as less representative of global liquidity while the Euro sacrifices the majority of China's gain. Long-term haven implications, expectations of China hastening its financial opening and an inevitable diversion of capital from other financial hubs to Shanghai carry important long-term considerations for Global Macro-minded investors (which FX traders are inherently). We discuss this important change 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