Daily FX

Daily FX
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets. Learn forex trading with a free practice account and trading charts from IG.
Talking Points:The US Dollar has traded up to fresh seven-week highs this morning, extending gains that started to show last week. As we move into a week that brings rate decisions out of both the European Central Bank and the Bank of Japan, the...
Cryptocurrencies continue to dwindle as the great speculative unwind remains in full-swing. Rallies have become quite brief before sellers quickly push prices back lower. After yesterday’s abrupt reversal we’ll take a look at charts of Bitcoin, Ethereum, and Ripple and see how much lower they might be headed. It...
Talking Points:Sluggish currency markets look past speech from RBA Governor Lower. UofM consumer confidence gauge may not do much for the US Dollar. Profit-taking may translate into brief corrections of recent price moves.Currency markets drifted sideways in Asia Pacific trade. RBA Governor Philip Lowe testified in...
GOLD/SILVER HIGHLIGHTS:Gold threatening to break key long-term trend-line Weekly close above will be needed to qualify as a sound breakout Silver has resistance but will follow goldGOLD THREATENING TO BREAK KEY LONG-TERM TREND-LINE Late last month, gold was rejected from the 2013 trend-line in fairly swift...
Talking Points:Canada Employment to Rise 10.0K in January After Three Months of Above-Forecast Prints. Jobless Rate to Uptick from Record-Low of 5.7% to 5.8% per Annum.Trading the News: Canada Employment ChangeCanada is expected to add 10.0K jobs in January, but another above-forecast print may...
Talking Points:S&P 500 puts in bearish gap-and-trap to start the week’s trading. But then quickly took it back, volatility on the up-tick. Short-term chart (hourly) has a couple of developments worthy of watching.The week started with a strong gap on Tuesday following an extended...
UK Inflation Data Falls for the First Time in Six MonthsHeadline UK inflation rose to 0.4% from 0.3% on a monthly basis as widely expected, but annual inflation fell to a six-month low of 3.0% from 3.1% in November. Core annual UK inflation – headline...
Talking Points:FTSE rally stalling at formidable resistance between 7550/600. A pause then a push through, or reversal? Shorts have a backstop to lean on, while ‘would-be’ longs need to be patient.The FTSE has been showing impressive strength off support just below 7300, but is...
Gold prices continued lower as expected, weighed down by an apparent upshift in Fed rate hike timing expectations. The yellow metal fell and the US Dollar traded higher while the spread between 5- and 2-year Treasury bond yields narrowed. Tellingly, this also coincided with a rise in the...
With USD-pairs having diverging looks we focused on specific set-ups in the group. The short-term picture in DXY is providing better clarity than the macro outlook. There are a couple of USD and cross-rate set-ups presently on the radar.Highlights:US Dollar Index (DXY) showing better short-term clarity USD/CAD on...
Talking Points:The U.S. Dollar continues to claw back towards a key resistance zone that runs from 94.08-94.30. Are we on the cusp of a bigger picture move of USD strength? It’s too early to say for certain, but if we do see that theme continue, AUD/USD and USD/JPY could...
Talking PointsBitcoin continues to make new highs as Asian buyers pile in. Sharp correction may see BTC consolidate before making a fresh attempt at $6,000.Bitcoin (BTC) Makes Yet Another All-Time HighBitcoin’s relentless march higher saw the digital coin near $6,000 in heavy Asian volume with exchange...
Talking PointsUK manufacturing and construction data point to a more buoyant UK economy. That’s helped lift the Pound and made an interest rate increase more likely.What Does the Fourth Quarter Hold for the Pound, Equities, Oil and Other Key Markets? Find out hereUK industrial production, construction output and manufacturing...
Talking Points:US Dollar gains as Fed rate hike bets swell, may ignore Q2 GDP revision British Pound may rise as BOE’s Carney puts rates policy back into focus Euro might correct higher as uptick in German CPI stokes QE taper hopesThe US Dollar continued to march higher in...
Talking PointsNorth Korea’s latest missile tests weighed on Asian markets at the open The rogue state launched a long-range weapon which overflew Japan, sparking heavy protest However the Nikkei and Kospi soon bounced backAsia Pacific markets showed some resilience to news of a...
TopicsThe global risk rally had another leg in Asia, but there are signs it is slowing The Nikkei had a solid third say of gains, but other indexes were essentially flat The US Dollar continued to gain on the Yen but was capped against the EuroNo...
TopicsFTSE 100 has confluence of support growing, with the 200-day MA added Repeated tests of 7300 weaken with each attempt to break, a close below would be big Support is support until it isn’t, still remains a range-bound market for nowLast week, when we...
Talking PointsRate decisions from the RBA on Tuesday, the BOC on Wednesday, and the ECB on Thursday should keep the fires of volatility stoked throughout the middle of the week. Incoming US ISM figures important, but less so now that the August US...
The press conference after the latest round of Brexit talks was bitter, with no signs of compromise.That could damage the Pound short-term, but longer-term it could benefit if EU countries take over the negotiations from the European Commission.Both the EU and the UK met...
Silver turns lower from July 2016 trend-line on abating fears, USD bounce Bullish channel since July spike-low keeps price pointed higher for now Keep an eye out on similar channel in gold and how USD respondsOn fears flaring from North Korea firing a missile over Japan...
The anti-risk Japanese Yen traded broadly higher while the sentiment-linked Australian and New Zealand Dollars swooned in Asia Pacific trade. The markets started the week in a sour mood and traders’ disposition only darkened as worries about the impact of Hurricane Harvey were compounded after North Korea conducted another missile test, this...
A mixed batch of data with expectations exceeded but downward revisions to last month’s figures. GBP remains under pressure with little to provide support in the short-termUK retail sales data for July beat market expectations but last month’s strong figures were revised a...
Talking Points:Euro at risk if German CPI disappoints, cools ECB tightening speculation US Dollar may rise as Q2 GDP rekindles 2017 Fed interest rate hike bets Are FX markets matching DailyFX forecasts so far in Q3? The preliminary set of July’s German CPI figures headlines the...
- Today at 2PM brings the July FOMC Rate Decision. But perhaps more pertinent to U.S. Dollar price action are the high-impact data prints on Thursday and Friday (GDP) of this week.- The U.S. Dollar has moved-higher from deep oversold conditions after a strong US Consumer...
The Euro corrected lower in Asian trade. The move played out inversely of a rebound in front-end US Treasury bond yields, suggesting weakness reflected a correction in anti-USD flows triggered as the unwinding of the so-called “Trump trade” dealt another blow to Fed interest rate hike prospects. The Australian...
The Euro has maintained its strength Tuesday as Euro-Zone GDP matches expectations and despite a below-par ZEW survey of economic sentiment in Germany.Seasonally adjusted GDP in the Euro-Zone rose by 1.7% year-on-year after +1.8% in the previous quarter, according to a flash estimate published...
The European Central Bank (ECB) is widely expected to retain the zero-interest rate policy (ZIRP) as it struggles to achieve its one and only mandate for price stability, but the Governing Council may sound more dovish this time around in an effort to ward...
The British Pound reversed its gains then recovered and hit fresh highs Tuesday after Prime Minister Theresa May unexpectedly announced a snap election to be held on June 8.Speaking in Downing Street, May said her government has delivered its mandate after the Brexit referendum,...
The Japanese Yen outperformed in Asian trade as regional shares followed Wall Street downward, boosting demand for the perennially anti-risk currency. The New Zealand Dollar proved weakest on the session as risk aversion predictably punished the highest-yielding currency in the G10 FX space. Geopolitical tensions...
The British Pound corrected gently higher in Asian trade following yesterday’s losses. The currency fell as the UK government invoked Article 50 of the Treaty of Lisbon, formally launching the Brexit process. Follow-through proved limited however, as expected. Sterling spiked to a two-month low...