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.

Free Trading Guides
EUR/USD
Bearish
GBP/USD
Mixed
USD/JPY
Bearish
Gold
Bearish
Oil - US Crude
Bullish
Bitcoin
Mixed
More View more
Real Time News
  • 🇯🇵 JPY Tertiary Industry Index (MoM) (SEP), Actual: 1.8% Expected: 1.1% Previous: 0.3% https://www.dailyfx.com/economic-calendar#2019-11-14
  • Trade deal bets kept the Singapore Dollar, Philippine Peso, Indonesian Rupiah and Malaysian Ringgit afloat despite $USD strength. This is the key fundamental driver for #ASEAN FX.Get your market update from @ddubrovskyFX here: https://t.co/aB8qP3JsB4 https://t.co/lLPkHZkj4n
  • Heads Up:🇯🇵 JPY Tertiary Industry Index (MoM) (SEP) due at 04:30 GMT (15min), Actual: N/A Expected: 1.1% Previous: 0.4% https://www.dailyfx.com/economic-calendar#2019-11-14
  • Heads up: Japan’s Tertiary Industry Index (MoM) (SEP) is due at 4:30 GMT (15 min) Est: 1.1% Previous: 0.4% #JPY
  • The$USD is attempting a recovery against the Philippine Peso and Malaysian Ringgit. Well-defined resistance levels are still keeping the USD/PHP and USD/MYR downtrend intact.Get your market update from @ddubrovskyFX here:https://t.co/Qb4yAhiaog https://t.co/YOTwULdZ9l
  • Commodities Update: As of 03:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.59% Silver: 0.15% Gold: 0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/bElqBuMNFc
  • #NOK, #SEK and the #NZD are expected to be the most active G10 currencies vs #USD with 1-week implied volatilities at 8.02, 7.50 and 7.13 respectively
  • If you missed this week's session on what trader positioning has to say about the outlook for $AUDUSD, $USDCAD and $EURUSD, check out the recording on YouTube below. Stay tuned for the full report to come! - https://t.co/caaTDioRiU
  • Forex Update: As of 03:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.09% 🇨🇭CHF: 0.03% 🇪🇺EUR: -0.03% 🇬🇧GBP: -0.06% 🇳🇿NZD: -0.29% 🇦🇺AUD: -0.59% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/tP4kMKk2Pr
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.56%, while traders in France 40 are at opposite extremes with 86.29%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/B2ZT4ITYQp
Dramatic Volatility from Oil, CAD, Stocks Indicative of Troubling Conditions

Dramatic Volatility from Oil, CAD, Stocks Indicative of Troubling Conditions

2016-04-19 02:00:00
John Kicklighter, Chief Currency Strategist
Share:

Talking Points:

  • The Doha meeting ended with a clear signal that supplies would not be systematically lowered any time soon
  • Crude oil gapped lower to open the week while USDCAD posted its biggest jump in 13 years
  • While this is significant event risk, it tells us more about troubling market conditions

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

For those trading during the opening hours of Monday's session, there was considerable volatility on the back of the failed Doha meeting. Dramatic gaps and equally extraordinary reversals occurred for US oil and USDCAD - two focal points for those following the crude supply cap speculation. These moves were certainly incredible; and for the industrious trader, could have offered significant trading opportunity. However, there is more to this market reaction than just a 24 hour trade. The ripples from the failed supply cap in Qatar spread out to a range of assets including many that are distinctly risk-oriented. The scale of volatility and reach of the news reflect more broadly on the fragile confidence holding the market's confidence. What happens in the event of a true emerging crisis, China economic stall, Fed hike or other key developments? We discuss the volatility following the OPEC familiar to cap oil output, but we also consider the deeper implications of the day in today's Strategy 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

News & Analysis at your fingertips.