Forex today: risk-off sentiment is still actual

Forex today: risk-off sentiment is still actual

  • The US dollar is falling. On Wednesday, the greenback managed to test levels above $94, however, didn’t stick there and closed at $93.90. On Thursday, the US dollar index is climbing down. The reason is a Wednesday’s meeting of the Fed. According to the report, the central bank is not going to hurry to increase the pace of rate hikes. The market already anticipates 2 additional rate hikes this year. That’s why investors need clues on a bigger number of rate hikes. The US dollar index is trading near $93.80.
  • There was a big fall of the euro yesterday as economic data appeared to be weaker than expected.

Screenshot_2.png

Up to now, EUR/USD managed to recover and is trading near the resistance at 1.1720. The European Central Bank will release its report of the most recent meeting today at 14:30 MT time. If the central bank is hawkish, the euro will have chances to rise further. Otherwise, no important economic data and events will be out today. So there is a risk that EUR/USD will not be able to break the resistance at 1.1720.

EURUSDDaily.png

  • A new round of Brexit negotiations will end today, however, some headlines have already affected the pound. There are talks that Theresa May is going to ask the EU to prolong the transition period to 2023 (up to date, the period has to end at the end of 2020). On Wednesday, the UK currency closed below the pivot point support at 1.3350. However, comments on Brexit deal managed to encourage GBP, so, GBP/USD is trying to break above 1.3350. More positive news on the Brexit deal will support the further movement above 1.3350. Moreover, traders should pay attention to retail sales’ data at 11:30 MT time. The forecast is encouraging. If the actual data is greater than the forecast one, the pound will get an additional support. The last but not least, the BOE governor Mr. Carney is giving two speeches today (11:00 MT time and 20:00 MT time). Whether the governor sounds hawkish, the pound will rise.

GBPUSDDaily.png

  • More positive news for the yen. The risk-off sentiment is increasing as North Korea officials suggested reconsidering the summit with the US. Moreover, US president Mr. Trump announced a possibility of new tariffs. The US Commerce is initiating an investigation into auto imports.

The USD/JPY pair is near the support at 109.70. Yesterday the pair couldn’t break this level, however, a weaker US dollar and the risk-off sentiment are putting pressure on the pair again. However, if we look at the weekly chart, we can see that the pair at a strong support: the pivot point support, 50.0 Fibo level, and 100-week MA. It means that a chance of the further fall to 108.50 is not high. A risk of a pullback to 110.35 is more likely.

USDJPYWeekly.png

  • The Canadian dollar is continuing to fall. The first reason is an oil’s depreciation. The second reason is a Canadian government’s ban on a takeover of construction firm Aecon Group Inc. by a unit of China Communications Construction Co. USD/CAD broke the resistance at 1.2825 and tested the next resistance at 1.2850. Whether the pair is able to close above 1.2850, there is a possibility of the further rise to 1.2950. However, the greenback’s depreciation may slow down the further rise. So the pair will stay within 1.2825-1.2850.

USDCADDaily.png

That is all for today. Follow markets news with us!

Similar

US Dollar Might Get Under Pressure After These Events
US Dollar Might Get Under Pressure After These Events

Today, two events will shake the US dollar. First, at 16:45 GMT+2, Markit, a statistical company, will release the US Flash Services PMI. Moreover, at 21:00 GMT+2, the Federal Reserve will release its meeting minutes.

Traders Should Know About These Releases
Traders Should Know About These Releases

The G20 summit and the US PPI release gave us a lot of volatility to trade on. Luckily, today’s markets may be even more volatile with new vital releases and geopolitical decisions. The daily news report will surely help you!

Latest news

Chinese workers are on strike
Chinese workers are on strike

  Good morning, dear traders! Hope you’re doing great! Let’s talk about the news that is worth following today!  Key market events: 15:30 MT, CAD GDP m/m 17:00 MT, GBP BOE Gov Bailey Speaks Oil is tensed again Oil rose as China refined its approach…

How to trade the JPY?
How to trade the JPY?

Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:

FOMC Minutes Brought Insights
FOMC Minutes Brought Insights

Hello, dear traders! We hope you have a great day! Let’s see what news is worth following today! Market closing US stock exchanges will be closed due to the Thanksgiving holiday…

Deposit with your local payment systems

Feel the Team Spirit

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera