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.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
Real Time News
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here:
  • Forex sentiment analysis can be a useful tool to help traders understand and act on price behavior. Learn how to get the most out of understanding trader sentiment here:
  • Emotions are often a key driving force behind FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Read on and get your emotions in check here:
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here:
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here:
  • The Australian Dollar remains vulnerable in the week ahead, eyeing risks such as a dovish RBA, surging Covid cases and recent crackdowns by Beijing. Might US NFPs offer some relief to AUD/USD? Get your weekly AUD forecast from @ddubrovskyFX here:
  • $AUDNZD closed at its lowest since December 2020 Prices pierced the 1.0541 - 1.0564 support zone, exposing the November low at 1.0418 A confirmatory downside close under support next week may open the door to further losses #AUD #RBA
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out
  • The US Dollar seems to be losing its momentum against ASEAN currencies as of late. Could this be another top in USD/SGD, USD/THB, USD/PHP and USD/IDR? Find out from @ddubrovskyFX here:
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here:
Graphic Rewind: US Dollar Obsesses Over Debt Deal Updates

Graphic Rewind: US Dollar Obsesses Over Debt Deal Updates

Benjamin Spier, Technical Strategist

Talking Points:

  • US Dollar sensitive to headlines and rumors ahead of debt ceiling
  • Fitch places US on watch negative
  • USD trading slightly lower

A look back at the past 24 hours of Forex trading using movements in the US Dollar Index:

US Dollar 15-Minute 08:00 10/15 to 08:00 10/16 EST

Graphic_Rewind_US_Dollar_Obsesses_Over_Debt_Deal_Updates_body_Picture_2.png, Graphic Rewind: US Dollar Obsesses Over Debt Deal Updates

Want to trade with proprietary strategies developed by FXCM? Find out how here.

Over the past 24 hours of trading, there is no doubt that the Dow Jones FXCM Dollar Index traded on debt deal related headlines, causing the safe haven currency to move in line with risk correlated assets.

The greenback declined in the second half of the NY session on Tuesday, when headlines came out that negotiations between Senate Majority Leader Reid and Minority Leader McConnell had broken down. However, it was later revealed that the senators had chosen to stop negotiations until the House first voted on a deal of its own.

Then, Fitch announced that it had placed the US government on watch negative, and even if lawmakers were able to agree on a deal before the onset of the debt ceiling, the US might still lose its AAA rating because of government instability. The Fitch warning sent the US Dollar to a new three day low.

The US Dollar then erased earlier losses in overnight trading, before declining to a new four day low. Both movements may have been reactions to updates and rumors about a Senate deal that was finally officially confirmed in today’s session. A better than expected UK claimant count did not seem to affect US Dollar Index movements.

Just a further point about the US Dollar trading in line with risk correlated assets, here’s a chart of USD/JPY side by side with S&P futures since the start of the week.

Graphic_Rewind_US_Dollar_Obsesses_Over_Debt_Deal_Updates_body_Chart_1.png, Graphic Rewind: US Dollar Obsesses Over Debt Deal Updates

New to Forex? Watch this video

Charts created by Benjamin Spier using Marketscope 2.0

-- Written by Benjamin Spier, DailyFX Research. Feedback can be sent to .

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