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
Bearish
Wall Street
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
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Silver: 0.44% Oil - US Crude: 0.27% Gold: -0.27% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/38weW9olX9
  • Waiting for Kodak to claim it is the most shorted stock in the world. If blockchain and vaccine pivots don't work, maybe this will be the ticket.
  • US to order 100 million more doses of Pfizer and Moderna vaccines to fight supply shortages - BBG
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in Germany 30 are at opposite extremes with 70.32%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/F22xKzHTZh
  • Mircosoft Earnings 2Q Revenues: $43.08 B, EST. $40.20 B EPS: $2.03 act. vs $1.64 est. $MSFT 246.46 +7.19%
  • So among those joining the fight against the short sellers, is there a hierarchy of virtue such as those buying shares seen as true believers versus those buying up OTM calls as more moral support?
  • Bitcoin Breakdown: Has Everyone Went to Gamestop? https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2021/01/26/Bitcoin-Breakdown-BTC-BTCUSD-Has-Everyone-Went-to-Gamestop.html #Bitcoin https://t.co/KUbaLi5h1u
  • 🇰🇷 Consumer Confidence (JAN) Actual: 95.4 Expected: 93.6 Previous: 89.8 https://www.dailyfx.com/economic-calendar#2021-01-26
  • Indices Update: As of 21:00, these are your best and worst performers based on the London trading schedule: France 40: 0.07% Germany 30: 0.02% Wall Street: -0.00% US 500: -0.01% FTSE 100: -0.10% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/MHMa0C4aQ5
  • Sterling stronger, approaching a new post-Brexit high against the Dollar $GBP $USD https://t.co/K9WfgwmPHo
Trade Changing Tides of Sentiment, Not Skepticism

Trade Changing Tides of Sentiment, Not Skepticism

John Kicklighter, Chief Strategist

Talking Points:

• Chinese GDP figures continue to draw incredulity printing so consistently in line with forecasts

• Market consensus - whether misinformed or contrary to theoretical interpretation - defines pricing

• Trading against the crowd only works when the crowd is expected to shift to the contrarian view

See the DailyFX Analysts' 1Q forecasts for the Dollar, Euro, Pound, Equities and Gold as well as our favorite 2016 trading opportunities in the DailyFX Trading Guides page.

Chinese GDP figures were released Tuesday morning, but the high-level event risk proved uneventful from a market-moving potential. The world's largest economy posted a 6.8 percent pace of annual growth which is the slowest clip since 2009 but only slightly below consensus. There is a tangible concern over the accuracy of the data given its preternatural consistency. This has certainly cooled market participants' reaction to the data; but for some, it has encouraged outright bearish positioning. However, it is the 'crowd' that sets price. If the majority of the market decides to run with dubious data or holds to the sidelines, prevailing prices will follow. The contrarian view is by its definition contradicts trend. Only when the contrarian outlook is expected to be the consensus is there a reasonable opportunity to consider. We discuss skepticism in the context of the high profile Chinese data 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