News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Bullish
Oil - US Crude
Bullish
Wall Street
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Bullish
USD/JPY
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • An economic calendar is a resource that allows traders to learn about important economic information scheduled to be released. Stay up to date on the most important global economic data here: https://t.co/JdvW6HNuqV https://t.co/Gi8LHCT5sB
  • The AB=CD pattern is simple once you know how to spot it and draw the proper Fibonacci retracements. Make your trading strategy as simple as ABCD here: https://t.co/AKmlmaAZBS https://t.co/FFmRYyx4ou
  • There is a great debate about which type of analysis is better for a trader. Is it better to be a fundamental trader or a technical trader? Find out here: https://t.co/aVAzFypAg1 https://t.co/r7aJb4qpqc
  • There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency is the fundamental factor that prevails above them all. Learn how interest rates impact currency markets here: https://t.co/ERyiY47G5H https://t.co/fIGDaDW21V
  • ...even more incredible is net speculative futures positioning in $EURUSD, rounding off from a record net long position...and it hasn't even cleared 1.20... https://t.co/SfyYTMTT1x
  • Net speculative futures positioning in the Dollar (here overlaid with the $DXY) has pushed to extreme levels commensurate to the levels in Oct 2017 and April 2018 https://t.co/JqHGgVUCqc
  • The $SPX closed below the 50-day moving average Friday. The first time it has done so in 103 trading days. The 'technical' end of an exceptional run: https://t.co/HUn5Q6JmlK
  • Despite recent weakness in the #SP500, the growth-linked New Zealand Dollar has been gaining momentum ahead of the #RBNZ next week Could this trend continue, or will $NZDUSD capitulate to the mercy of risk trends? Check out my fundamental outlook - https://www.dailyfx.com/forex/fundamental/forecast/weekly/nzd/2020/09/19/New-Zealand-Dollar-Outlook-NZDUSD-May-Rise-on-RBNZ-Watch-SP-500.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/34vcR4fjpT
  • RT @FxWestwater: #Copper rose to a fresh multi-year high as Chinese demand and supply-side issues continue to support price action amid a l…
  • The US Dollar may rise against ASEAN currencies like the Singapore Dollar if local retail sales and sentiment data disappoints. USD/IDR may fall on the Bank of Indonesia. Get your market update from @ddubrovskyFX here:https://t.co/HpH8pXFdLl https://t.co/ZuHLVL8ItN
4 US Dollar Moves in Play Today

4 US Dollar Moves in Play Today

2013-06-25 11:15:00
Boris Schlossberg, Technical Strategist
Share:

If today’s US data disappoints, the dollar’s recent correction could continue, causing the greenback to lose ground and target specific price levels versus the euro, yen, British pound, and Aussie.

It was a meandering night of trading in the FX market with high-beta currencies trying to rally early in the session on hopes that a People’s Bank of China (PBoC) news conference would allay investor fears about a liquidity crunch in the Chinese markets. The conference was not an official PBoC event, but Chinese authorities did address the recent volatility in the markets, stating that they expect the "seasonal" factors to disappear and adding that they are watching liquidity conditions carefully.

The news provided a modicum of support to risk assets and European markets rallied in response. Initially, it caused a pop in the euro (EUR), Australian dollar (AUD), and British pound (GBP), but the gains dissipated as morning dealing progressed and currencies remained in tight consolidation ahead of the North American open.

The news out of China did ease the pressure on US rates, however, and ten-year Treasury yields dropped below the key 2.50% mark, sending USDJPY below the 97.00 figure. The pair quickly found support at that level, though, and rebounded to 97.20. Still, if US yields continue to decline throughout today’s North American trade, USDJPY will likely revisit 97.00 later in the day.

The economic calendar was very quiet, but the one data point that did appear on the docket continued to show recovery in the UK economy. UK mortgage applications rose to an impressive 36.1K versus 33.1 expected, which indicates that the housing market in Britain continues to improve.

The mortgage data is just the latest example of stronger-than-expected economic releases from the UK, suggesting that Q2 GDP performance is likely to be considerably better than initially thought. The GBPUSD pair saw little reaction to the news, but remained relatively well bid nonetheless, and the pair could make a run towards the 1.5400 level later in the day if the correction in the US dollar (USD) rally continues.

4 Dollar Moves That Could Happen Today

The dollar’s recent correction could in fact accelerate during today’s North American session if US data disappoints the market. With durable goods, new home sales, and the Case-Shiller index all on the calendar, investor will have plenty of data to digest during North American trade.

Moreover, today’s housing data could be of particular interest. Housing has been one of the key drivers of the recovery, spurred on by low interest rates. However, it will be interesting to see if the recent uptick is having any dampening effect on demand.

It may be too early to gauge the impact of rising rates on the US housing market, but if the data does disappoint, the dollar is likely to sell off, as US yields will continue to retreat from their highs.

Monday was the first day in more than a week that the dollar saw weakness across the board as investors reconsidered the prospects of Fed tapering. If today's US economic data misses its mark, that skepticism will only increase, sending USDJPY through 97.00, EURUSD through 1.3150, GBPUSD towards 1.5400, and AUDUSD to 0.9300 as the day progresses.

By Boris Schlossberg of BK Asset Management

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES