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
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
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
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • Wall Street Futures Update: Dow Jones (+0.04%) S&P 500 (+0.09%) Nasdaq 100 (+0.47%) [delayed] -BBG
  • The Bitcoin/Ethereum ratio’s break to its lowest levels since August 2018 suggests that ETH may continue to outperform BTC in the coming weeks. Key levels to watch for Bitcoin and Ethereum. Get your $btc market update from @DanielGMoss here:https://t.co/mo3rw7bP4v https://t.co/qKJMkhbdkN
  • Overlooked this past session given the extreme volatility in heavily shorted US stocks: the PBOC warned of an asset bubble as it drained liquidity; the IMF said Biden's $1.9 tln stimulus could add 5ppt GDP to the US over 3 years and ECB made a thinly veiled threat over $EURUSD
  • 🇦🇺 Inflation Rate QoQ (Q4) Actual: 0.9 Expected: 0.7% Previous: 1.6% https://www.dailyfx.com/economic-calendar#2021-01-27
  • 🇦🇺 Inflation Rate YoY (Q4) Actual: 0.9% Expected: 0.7% Previous: 0.7% https://www.dailyfx.com/economic-calendar#2021-01-27
  • 🇦🇺 Westpac Leading Index MoM (DEC) Actual: 0.12% Previous: 0.69% https://www.dailyfx.com/economic-calendar#2021-01-27
  • Heads Up:🇦🇺 Westpac Leading Index MoM (DEC) due at 00:30 GMT (15min) Actual: 0.12% Previous: 0.69% https://www.dailyfx.com/economic-calendar#2021-01-27
  • Heads Up:🇦🇺 Inflation Rate QoQ (Q4) due at 00:30 GMT (15min) Expected: 0.7% Previous: 1.6% https://www.dailyfx.com/economic-calendar#2021-01-27
  • Heads Up:🇦🇺 Inflation Rate YoY (Q4) due at 00:30 GMT (15min) Expected: 0.7% Previous: 0.7% https://www.dailyfx.com/economic-calendar#2021-01-27
  • ...and accompanying the interest in day trading, the Google search interest in "market bubble" is pushing to levels not seen since 2005 (h/t Jesse Felder) https://t.co/gJVOymgOWv
Forex Trading: Dollar Rebound Lacks Drive, So Does SPX Conviction

Forex Trading: Dollar Rebound Lacks Drive, So Does SPX Conviction

John Kicklighter, Chief Strategist

Talking Points:

  • With little more than weak data and a hawkish lean from non-voting Fed members, USDollar extended its rebound
  • The higher the S&P 500 climbs (carrying speculative sentiment with it) the greater the imbalance for potential
  • Top event risk Tuesday is the UK inflation statistics with its own asymmetrical market potential

See how retail traders are positioning in the majors using the FXCM SSI readings on DailyFX's sentiment page.

Strong moves that perhaps struggle for solid fundamental footing will eventually cool and correct. For the USDollar, that seems to have happened - at least temporarily - in quick order. After the tumble last week in the wake of the FOMC's rate forecast downgrade, we find the currency has opened to a lurch higher to extend Friday's tentative rebound. Rebound may not have the fundamental backing of a serious trend, but neither did the volatile breakdown last week. Meanwhile, the stretch on US equities (as a proxy for riskier assets) continues to press higher. The pattern may look disturbingly similar to the August to November recovery that ultimate ran out of steam; but the tangible comparison is in the disappointing backdrop for fundamentals and market conditions. The question is whether speculative appetite can break from the mold and run or falter and collapse in this holiday liquidity-hedged week. Ahead, event risk is not particularly conducive to resolving big picture fundamental themes. However, the UK inflation statistics can generate considerable heat for the appealing developments for Pound crosses including GBPUSD, EURGBP, GBPCAD and GBPAUD. We discuss these themes and market scenarios in today's Trading Video.

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

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

DISCLOSURES