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.

Free Trading Guides
EUR/USD
Mixed
GBP/USD
Bullish
USD/JPY
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
Oil - US Crude
Bullish
Bitcoin
Mixed
More View more
Real Time News
  • Commodities Update: As of 03:00, these are your best and worst performers based on the London trading schedule: Silver: 0.63% Oil - US Crude: -0.02% Gold: -0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/oNEkMGVhyX
  • Forex Update: As of 03:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.17% 🇨🇦CAD: 0.11% 🇪🇺EUR: 0.07% 🇳🇿NZD: -0.01% 🇨🇭CHF: -0.03% 🇯🇵JPY: -0.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/6TDJo3StbI
  • LIVE NOW: Join DailyFX Senior Strategist @IlyaSpivak LIVE as he discusses the outlook for the financial markets in the week ahead! https://www.dailyfx.com/webinars/889679267
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.27%, while traders in Germany 30 are at opposite extremes with 84.48%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/Hp25WV8QCx
  • LIVE IN 30 MIN: Join DailyFX Senior Strategist @IlyaSpivak LIVE as he discusses the outlook for the financial markets in the week ahead! https://www.dailyfx.com/webinars/889679267
  • #NOK, #AUD and #SEK are expected to be the most active G10 currencies vs USD with 1-week implied volatility at 7.35, 7.76 and 6.72, respectively
  • Tune in to @IlyaSpivak 's #webinar at 10:00 PM ET/3:00 AM GMT for insight on the cross market weekly outlook. Register here: https://t.co/E213bTtq5C https://t.co/Mh5NxU5BsU
  • RT @KyleR_IG: * PBOC OFFERS 1-YEAR MLF AT 3.15%, LOWERED FROM 3.25% PREVIOUSLY #ausbiz $cny
  • 🇨🇳 CNY New Home Prices (MoM) (JAN), Actual: 0.27% Expected: N/A Previous: 0.35% https://www.dailyfx.com/economic-calendar#2020-02-17
  • 🇨🇳 CNY New Home Prices (MoM) (JAN), Actual: 0.27% Expected: N/A Previous: 0.4% https://www.dailyfx.com/economic-calendar#2020-02-17
Graphic Rewind: US Dollar Finds Impressive Daily Gains Ahead of FOMC

Graphic Rewind: US Dollar Finds Impressive Daily Gains Ahead of FOMC

2013-10-29 19:47:00
Benjamin Spier, Technical Strategist
Share:

Talking Points:

  • US Dollar sees the biggest daily gains in over a month
  • Greenback traders possibly positioning for FOMC taper talk

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

US Dollar 15-Minute 12:00 10/28 to 12:00 10/29 EST

Graphic_Rewind_US_Dollar_Finds_Impressive_Daily_Gains_Ahead_of_FOMC__body_Picture_1.png, Graphic Rewind: US Dollar Finds Impressive Daily Gains Ahead of FOMC

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

With only one day left until the October FOMC rate decision, the Dow Jones FXCM Dollar Index has gained the most on a daily basis in over a month. There was no particular story to account for majority of the move, and traders may just be preparing for the possibility of the Fed hinting at a taper sooner than the median expectation of March 2014.

The US Dollar move higher started shortly after the NY close on Monday, when RBA Governor Stevens said that the Aussie will move materially lower in the future. The comments caused the Australian Dollar to decline against majors like the US Dollar.

The greenback then moved further higher during the European session, despite a lack of market moving news. In the NY session, the US Dollar fell against the Euro temporarily on comments from ECB’s Nowotny, before setting new daily highs.

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 instructor@dailyfx.com .

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

DISCLOSURES

News & Analysis at your fingertips.