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. See our updated Privacy Policy here.

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
Subscribe
Please try again
GBP/USD
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
  • (Weekly Fundy) Crude Oil May Rise as Covid Case Growth Slows. WTI Eyes OPEC Outlook, Evergrande #CrudeOil #WTI #OPEC #Evergrande https://www.dailyfx.com/forex/fundamental/forecast/weekly/title/2021/09/26/Crude-Oil-May-Rise-as-Covid-Case-Growth-Slows-WTI-Eyes-OPEC-Outlook-Evergrande.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/76e2aGf3p0
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here: https://t.co/e4Cnoc1dk0 https://t.co/NhsMS1EY4b
  • We are heading into the final trading days for the month of September and event risk thins out amid the $SPX's rebound. This is what history says for the 39th week of the year and here is my take on the variable factors: https://www.dailyfx.com/forex/video/daily_news_report/2021/09/25/SP-500-and-Dollar-Have-Different-Views-for-Last-Week-of-September.html https://t.co/4OBVmrvI7I
  • Further your forex knowledge and gain insights from our expert analysts on AUD with our free guide, available today: https://www.dailyfx.com/free-trading-guides?ref-author=social#forecastschoices=AUD?QPID=30472&CHID=9 https://t.co/LHJi7CNFmM
  • $EURUSD https://t.co/KZyXX6p2oI
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Find out about the recent history of ISM data, how to track it, and how to trade its release here: https://t.co/MZtBh8pYG3 https://t.co/1zNf5dpDjU
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here: https://t.co/vg7w10la3j https://t.co/z8z6BNudn5
  • #PELOSI SAYS WE ARE GOING TO PASS THE INFRASTRUCTURE BILL THIS WEEK PELOSI SAYS SHE WILL NEVER BRING TO THE HOUSE FLOOR A BILL THAT DOESN'T HAVE THE VOTES TO PASS $USD $SPX $XAUUSD
  • Short-term uncertainties to keep the pressure on equity markets. Get your weekly equities forecast from @JMcQueenFX here: https://t.co/JLMDPZKvN8 https://t.co/YbdJnwoqj1
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here: https://t.co/BdgFmkRxVw https://t.co/hqW38VawJl
Forex Analysis: Dollar Strengthens as Fiscal Cliff Negotiations Stall

Forex Analysis: Dollar Strengthens as Fiscal Cliff Negotiations Stall

Christopher Almeida,

THE TAKEAWAY: US Dollar ends week higher as Fiscal Cliff disorganization prompts safe haven asset buying.

The US Dollar ended last week stronger against its counterparts as The House of Representatives’ Republican leaders cancelled a vote on John Boehner’s ‘Plan B’ proposal to address the looming “fiscal cliff”. This saw a sharp decline in the S&P 500, forcing the Dollar higher.

The safe haven currency saw some consolidation early this week but rallied into the Christmas holiday as traders grew fearful that US lawmakers would fall short of reaching a budget deal before the year-end. This prompted US President Barack Obama to cut short his holiday in Hawaii and announce an early return to Capitol Hill. This calmed the markets and stoked optimism that a solution would be reached.

Reports that Obama and Boehner had not engaged in discussions again saw US stocks head lower with the Dollar spiking to a weekly high. Ominous comments from Senate Democratic leader Harry Reid warning that the “fiscal cliff” would not be avoided prompted a sell-off on US stock markets and a rally in the greenback. The advance met some resistance however as Congressional leaders announced a meeting with President Obama on the 29th while the House said it would convene on the 30th of December, rekindling hopes for a last-minute accord. Still, the benchmark currency finds itself 0.7 percent higher week-to-date against the majors.

Forex_Analysis_Dollar_Strengthens_as_Fiscal_Cliff_Negotiations_Stall_body_Picture_1.png, Forex Analysis: Dollar Strengthens as Fiscal Cliff Negotiations Stall

Created Using FXCM Marketscope – Prepared by Christopher Almeida

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

DISCLOSURES