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
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Mixed
Wall Street
Mixed
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Japanese Chief Cabinet Secretary Kato: - Vaccine schedule can't be fixed before approval - Tokyo area still facing severe Covid situation - BBG $USDJPY
  • The British Pound may continue gaining ground against its haven-associated counterparts in the near term. However, the currency may give up gained ground against the New Zealand Dollar.Get your $GBP market update from @DanielGMoss here:https://t.co/cIp4BfbsXT https://t.co/VS6g0Z3FKO
  • Not the most common of the Dollar-based majors, but $NZDUSD has tentatively broken its persistent bull trend while net spec futures positioning (COT) hit its highest level since May 2018 https://t.co/4HUxRWqzN4
  • 🇨🇳 FDI (YTD) YoY (DEC) Actual: 6.2% Previous: 6.3% https://www.dailyfx.com/economic-calendar#2021-01-20
  • Wall Street Futures Update: Dow Jones (+0.13%) S&P 500 (+0.21%) Nasdaq 100 (+0.43%) [delayed] -BBG
  • While the US Dollar has been holding its ground, its downside bias against the Singapore Dollar, New Taiwan Dollar Thai Baht and Indonesian Rupiah remains intact as it hovers at support. Get your market update from @ddubrovskyFX here:https://t.co/p7gAztWuVG https://t.co/lsTW6x9gIL
  • Asia-Pacific stocks look set to trade higher after US Treasury secretary nominee Janet Yellen showed her support to Biden’s US$ 1.9 trillion fiscal stimulus plan - a boost to energy, industrial and information technology sectors in particular. https://t.co/VSSHeXgtGF
  • The US Dollar may be finding a turning point against ASEAN currencies as smaller fiscal stimulus bets, soft earnings risk and Covid cases translate into some capital flight from equities. Get your #ASEAN currencies market update from @ddubrovskyFX here:https://t.co/F3uz5GHMSd https://t.co/OfexTM6SnX
  • Heads Up:🇺🇸 Joe Biden's Inauguration due at 00:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-01-20
  • Heads Up:🇦🇺 Westpac Consumer Confidence Index (JAN) due at 23:30 GMT (15min) Previous: 112 https://www.dailyfx.com/economic-calendar#2021-01-19
US Dollar Seesaws Amid Flurry of Official Commentary

US Dollar Seesaws Amid Flurry of Official Commentary

Christopher Almeida,

THE TAKEAWAY: The US Dollar saw seesaw volatility earlier in the week as central bankers and policy makers released statements and outlooks, but started to trend lower as the Yen strengthened.

Forex_US_Dollar_Seesaws_Amid_Flurry_of_Official_Commentary_body_rewindfeb152013.png, US Dollar Seesaws Amid Flurry of Official Commentary

Created Using Marketscope 2.0 (Hourly Chart)

The US Dollar rallied early in the trading week as Bank of Japan Governor candidate Harahiko Kuroda said that “some additional measures” could be justified this year, hinting at an expansion of stimulus in the months ahead and sending the Yen sharply lower against the buck. The move appeared to spill over into broad Dollar strength as the newswires buzzed with bets on continued BOJ activism.

A G7 meeting on Tuesday marked a sharp decline in greenback as Japan’s Finance Minister Taro Aso attempted to publically spin the statement following the sit-down as suggesting that Japan’s monetary policy was aimed at deflation rather than a currency level, thereby turning a blind eye to the so-called “currency wars”. The rhetoric would have been supportive if not for a swift counter-strike by a G7 official who quickly took to the wires to say that the group’s intent was misinterpreted, reiterating concern about excessive Yen moves.

The US Dollar Index rose again as the British Pound and Euro fell on the back of the Bank of England Inflation Report, where policymakers said UK growth was likely to remain weak and identified Eurozone threats as ongoing. As the week came to a close, the safe haven currency started to trend downward anew however as the Yen strengthened following the Bank of Japan rate decision. Maasaki Shirakawa and company did not announce new stimulus measures and released a statement cautiously hinting at a forthcoming recovery.

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

DISCLOSURES