DAILY FX

DailyFX.com is a free news and research platform from IG, serving as a top resource for those involved in currency trading worldwide. Each day, analysts at DailyFX share updates on the latest developments in the currency market. They offer valuable technical analysis and highlight key chart patterns alongside real-time currency quotes. Additionally, DailyFX.com breaks down market movements, discussing the economic, political, and technical influences that shape the market.

Trade/B2B

English, French, German, Japanese, Spanish

Online/Digital

Outlet metrics

Domain Authority

Ranking

Global

#1146265

Bulgaria

#13137

Finance/Investing

#124

Traffic sources

Monthly visitors

Articles

IG Client Sentiment Report: GBP/USD, AUD/USD Reveal a Common Flaw

Aug 30, 2024 | dailyfx.com | Richard A. Snow

AUD/USD Overview:37.84% of traders are long, with a short-to-long ratio of 1.64:1Long positions: ↑ 1.20% from yesterday, ↓ 12.53% from last weekShort positions: ↑ 1.79% from yesterday, ↑ 15.53% from last weekRetail traders as a collective tend to be trend fighters, which is not optimal when markets are trending. The trend is your friend, as the saying goes, and this forms the basis of why it is often useful to adopt a contrarian approach to client sentiment positioning.
Upward Revision to Q2 GDP Aids the US Dollar’s Feable Recovery

Aug 29, 2024 | dailyfx.com | Richard A. Snow

US GDP, US Dollar News and AnalysisUS Q2 GDP edges higher, Q3 forecasts reveal potential vulnerabilitiesQ3 growth likely to be more modest according to the Atlanta FedUS Dollar Index attempts a recovery after a 5% dropUS Q2 GDP Edges Higher, Q3 Forecasts Reveal Potential VulnerabilitiesThe second estimate of Q2 GDP edged higher on Thursday after more data had filtered through.
EUR/USD and GBP/USD - Latest Sentiment Analysis and Positioning

Aug 28, 2024 | dailyfx.com | Nick Cawley

EUR/USD AnalysisCurrent Position:30.60% of traders are net-long (buying)69.40% of traders are net-short (selling)The ratio of short to long positions is 2.27 to 1Changes in Long Positions:Increased by 20.19% since yesterdayIncreased by 44.60% since last weekChanges in Short Positions:Decreased by 5.87% since yesterdayDecreased by 3.33% since last weekMarket Interpretation:We generally take a contrarian view to crowd sentiment.
IG Retail Sentiment Report: AUD/USD and USD/JPY after Aussie CPI, BoJ Comments

Aug 28, 2024 | dailyfx.com | Richard A. Snow

Aussie Inflation Data Remains Mixed as Electricity Rebate Artificially Lowers CPIAustralian inflation rose at an annual pace of 3.5% in July, down from 3.8% in June according to the Australian Bureau of Statistics. The data point was slightly above the 3.4% estimate and while it looks encouraging at face value, much of the drop was due to rebates for the price of electricity which artificially lowered the CPI measure.
Gold (XAU/USD) and Silver (XAG/USD) Drift as US Dollar Pares Recent Losses

Aug 28, 2024 | dailyfx.com | Nick Cawley

Gold (XAU/USD) and Silver (XAG/USD) Analysis and ChartsGold remains positive in the coming weeksSilver’s technical break higher remains in place. The US dollar Index (DXY) is around 0.4% higher in European trade after steadying around a 9-month low this week. This slight move higher lacks any conviction and a further move lower is expected in the coming weeks as US interest rate cuts come into play.
Libya Outages and Middle East Tensions Spark Supply Concerns. WTI Nears key $77.40 Resistance

Aug 27, 2024 | dailyfx.com | Richard A. Snow

Brent, WTI Oil News and AnalysisGeopolitical uncertainty and supply concerns have propped up oilOil prices settle ahead of technical area of confluence resistanceWTI respects major long-term level but geopolitical uncertainty remainsThe analysis in this article makes use of chart patterns and key support and resistance levels.
USD/JPY and AUD/USD Latest Sentiment Analysis and Positioning

Aug 26, 2024 | dailyfx.com | Nick Cawley

USD/JPY AnalysisCurrent positioning:49.50% of traders are net-longThe ratio of short to long traders is 1.02 to 1, indicating a slight bias towards short positionsChanges in positioning:Net-long traders increased by 2.61% since yesterday and 11.55% from last weekNet-short traders increased by 0.95% since yesterday but decreased by 4.75% from last weekContrarian view:The analysis suggests taking a contrarian view to crowd sentiment.
Japanese CPI and Ueda’s Comments Prop up the Yen Ahead of Powell’s Address

Aug 23, 2024 | dailyfx.com | Richard A. Snow

Japanese Yen (USD/JPY) Analysis BoJ encouraged to stick to the plan as inflation continues above target Japanese CPI remains at 2.8% - the same as last month and beats estimate of 2.7% USD/JPY gains prove short-lived ahead of Powell’s address at Jackson Hole BoJ Encouraged to Stick to the Plan as Inflation Continues above Target The Japanese currency strengthened, with the Yen gaining as much as 0.7% against the US dollar, following comments from Bank of Japan (BoJ) Governor Kazuo Ueda...
EUR/USD, GBP/USD, and Gold - Latest Sentiment Analysis

Aug 23, 2024 | dailyfx.com | Nick Cawley

EUR/USD, GBP/USD, and Gold Sentiment AnalysisRetail trader data shows 25.76% of EUR/USD traders are net-long with the ratio of traders short to long at 2.88 to 1.The number of traders net-long is 12.88% higher than yesterday and 17.56% lower from last week, while the number of traders net-short is 0.68% higher than yesterday and 19.41% higher from last week. We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests EUR/USD prices may continue to rise.
IG Retail Sentiment Snapshot: Oil, AUD/USD and DAX

Aug 22, 2024 | dailyfx.com | Richard A. Snow

Oil - US Crude:The oil market has continued to trade lower as the outlook for global oil demand growth comes under pressure. The Fed is expected to cut interest rates next month after a deterioration in the labour market saw the unemployment rate rise unexpectedly to 4.3% in July. Yesterday, minutes of the July Fed meeting teed up September for a 25 basis point (bps) cut but markets still price in a 30% chance of a 50 bps cut first up.