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Day: May 8, 2018
May 82018
Euro Falls to New Lows on Fed Chair Jerome Powellâs Speech
The euro today fell to new lows against the US dollar following Federal Research Chairmam, Jerome Powell‘s speech in Zurich during the early European session. The euro’s downtrend extended into the American session as demand for the US dollar increased driven by buying pressure from American traders. The EUR/USD currency pair lost over 95 points to decline from a high of 1.1937 to a low of 1.1838 breaking below the crucial 1.1900 resistance level. […]
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May 82018
Crude Oil Off its Highs Ahead of Trump Decision on Iran
Crude oil talking points: – The price of Brent crude oil has slipped back from its highs but remains above the $75/barrel mark. – Its underlying strength is based on concerns that if Trump pulls out of the nuclear deal with Iran it could disrupt oil supplies. Check out the IG Client Sentiment data to […]
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May 82018
EURUSD Continues to Break Lower; US CPI Looms
EURUSD News and Talking Points – A lack of any data over the next couple of days leaves EURUSD at risk of moving lower. – Recent sentiment data highlights retail remains long of the pair. The DailyFX Q2 Trading Forecasts for all major currencies, commodities and indices, are now availableto download to help you make […]
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May 82018
Bearish EURUSD Outlook as Correction Looks to Continue
EURUSD Analysis and Talking Points EURUSD selling looks set to continue amid the recovery in the USD, coupled with poor Eurozone data. Net longs head for the exit, posing downside risks for the Euro. See our Q2 EUR forecast to learn what will drive the currency through the quarter. USD Recovery and Poor EZ Data […]
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May 82018
Mixed Messages From Market Sentiment Indicators as USD Strength Persists
Market sentiment talking points: – Indicators of market confidence are sending mixed signals, with AUD/JPY falling but Wall Street stable and the FTSE 100 strengthening. – That leaves traders free to concentrate on trending assets like the USD, EUR, GBP and oil. – In this webinar I took a look at market sentiment, confidence and […]
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May 82018
US AM Digest: Oil Prices Retreat Ahead of President Trump’s Iran Nuclear Deal Announcement
Receive the DailyFX US AM Digest in your inbox every day before US equity markets open – signup here US Market Snapshot via IG: DJIA -0.1%, Nasdaq 100 -0.2%, S&P 500 -0.2% Major Headlines Chinese Trade Balance returns to a surplus in April Fed’s Powell says the market is reasonably well aligned with the Fed […]
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May 82018
Gold Price Under Selling Pressure; Will Tech Support Hold?
Gold Price News and Analysis – Gold price falters just above the 200-day moving average. – Prices may get support if US President Trump plays hardball with Iran. The new DailyFX Q2 Gold Forecast is now available to help traders navigate the market. The latest IG Retail Sentiment Indicatorshows that traders are heavily long of […]
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May 82018
Australian Dollar Tanks After Disappointing Retail Sales
The Australian dollar slumped against all major currencies today, falling to the lowest level since June 2017 against the US dollar, after nation’s retail sales unexpectedly halted growth in March. Rising imports in China, Australia’s biggest trading partner, did little to support the currency. Australian retail sales showed no growth in March from the previous month following the 0.6% increase in February. That is compared to the predicted growth […]
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May 82018
Asian Stocks Mostly Higher, US Dollar Holds Up, Fed’s Powell Eyed
ASIAN STOCKS TALKING POINTS Asian stocks rose almost across the board Local data were mixed, with weak retail sales hitting the Australian Dollar The Fed and Iran remain on the day’s economic agenda Find out what the #1 mistake that traders make is so that you never have to join them! Asian stocks managed gains […]
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May 82018
Ether (ETH) Price Stall; Rattled by Ongoing SEC Talk
Ethereum (ETH) News and Talking Points – Ether’s recovery from April 1 low continues – outperforms other crypto heavyweights. – Talk that the SEC may label ETH, and Ripple, a security is weighing on the token. IG Client Sentimentshow clients remain heavily long ETH but recent changes give a mixed view for traders going forward. […]
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