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Daily Financial Market News

Mon, 20 Nov 2017 04:00:00 GMT

Yen and Franc May Extend Gains as German Politics Sour Sentiment

Yen and Franc May Extend Gains as German Politics Sour Sentiment Search DailyFX Home Rates Charts News Market News Real-Time News Daily Briefings Forecast Market Alerts DailyFX Authors Articles Market News Headlines Ethereum Price Rally Stalls Ahead of Key Resistance Targets U.S. Dollar Begins Test of Key Resistance Zone as Bulls Remain Bashful DXY Index Firms Up, but Still Stuck in Range Technical Analysis Analysis Technical Analyst Picks Support & Resistance Daily Technical Reports Pivot Points Sentiment Articles Algorithmic Trading Technical Analysis Headlines DAX Technical Analysis: Trading in Tight Window of Support & Resistance EUR/GBP Technical Analysis: Move Back Below 0.88 Hinted Ahead ASX 200 Technical Analysis: Retreat Finds Support But It Must Hold Calendars Economic Calendar Webinar Calendar Central Bank Rates Dividend Calendar Forex Economic Calendar Time Event Actual Forecast Rates Charts Education Education Beginner Intermediate Advanced Expert Free Trading Guides DAILYFX PLUS × Get the best parts of DailyFX.com in the new DailyFX App Download × Join Us For Our Free Webinars Get daily market analysis from our in-house experts Choose from more than 25 webinars each week Put your questions to our experts in real-time Q&As Register now Want to hold off on improving your trading? Click here to dismiss. × Get Your Free Trading Guides With your broad range of free expert guides, you'll explore: The basics of forex trading and how to develop your startegy Foundational knowledge to help you develop an edge in the market What's ahead for major FX pairs, Gold, Oil and more Download a Free Guide Want to hold off on improving your trading? Click here to dismiss. EUR/USD Low High View More Note: Low and High figures are for the trading day. News U.S. Dollar Begins Test of Key Resistance Zone as Bulls Remain Bashful DailyFX US AM Digest: US Dollar Bobs Back and Forth; Euro Weakens DXY Index Firms Up, but Still Stuck in Range GBP/USD Low High View More Note: Low and High figures are for the trading day. News DXY Index Firms Up, but Still Stuck in Range Asia AM Digest: British Pound Gains on Brexit Breakthrough Hopes GBP/USD Marches Toward Monthly-High (1.3321) Ahead of BoE Testimony USD/JPY Low High View More Note: Low and High figures are for the trading day. News DailyFX US AM Digest: US Dollar Bobs Back and Forth; Euro Weakens DXY Index Firms Up, but Still Stuck in Range DailyFX US AM Digest: Euro Retakes Earlier Losses; Dollar Stable at US Open Gold Low High View More Note: Low and High figures are for the trading day. News DailyFX US AM Digest: US Dollar Bobs Back and Forth; Euro Weakens DXY Index Firms Up, but Still Stuck in Range Technical Analysis for Gold, Silver, Crude Oil, DAX & More Oil Low High View More Note: Low and High figures are for the trading day. News Technical Analysis for Gold, Silver, Crude Oil, DAX & More Crude Oil Prices Eye Inventory Data as Gold Awaits Yellen Speech Gold Prices May Continue Higher as German Coalition Crumbles BITCOIN Low High View More Note: Low and High figures are for the trading day. News Bitcoin Rallys Through $8,200; New Crypto Market Cap Record Bitcoin Soars Then Retreats; Good News Continues Bitcoin Momentum Continues, Hedge Fund Giant Signals Interest View More More Real-Time News Facebook Twitter Youtube Google + Yen and Franc May Extend Gains as German Politics Sour Sentiment by  Ilya Spivak, Sr. Currency Strategist  Fundamental analysis, economic and market themes Connect via: Talking Points: Euro slumps as FDP blows up German coalition negotiations NZ and US Dollars correct higher following Friday’s losses Yen and Franc may extend gains amid continued risk aversion The Euro underperformed in Asia Pacific trade following news that German coalition negotiations had broken down . The pro-business FDP party abandoned the talks, which would have produced a four-party ruling bloc led by Chancellor Angela Merkel. The anti-risk Yen and Swiss Franc rose as worries about political instability in the Eurozone’s largest economy weighed on market sentiment. The New Zealand Dollar corrected cautiously higher having been battered amid risk aversion Friday after Special Counsel Robert Mueller subpoenaed the Trump campaign . The US Dollar also managed a tepid recovery after suffering the second consecutive week of losses amid ebbing confidence in the successful implementation of tax cut s that markets hoped would boost inflation and encourage Fed rate hikes. Looking ahead, a pair of speeches from ECB President Mario Draghi headline an otherwise lackluster European economic calendar. With the near-term policy path already decided and likely to remain untouched at least through early 2018, markets will be most interested in what might happen if the economy deviates from baseline assumptions. Risk trends might continue to hold sway however. FTSE 100 and S&P 500 futures are pointing decidedly lower before London and New York come online, hinting that the sour mood prevailing overnight is aiming to extend through the rest of the global trading day. On balance, that seems likely to continue pushing funding currencies like the Yen and Franc higher against their G10 counterparts. What is the #1 mistake that traders make, and how can you fix it? Find out here ! Asia Session European Session ** All times listed in GMT . See the full DailyFX economic calendar here . --- Written by Ilya Spivak, Currency Strategist for DailyFX.com To receive Ilya's analysis directly via email, please SIGN UP HERE Contact and follow Ilya on Twitter: @IlyaSpivak DailyFX provides forex news and technical analysis on the trends that influence the global currency markets. 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