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
Bullish
Oil - US Crude
Bullish
Wall Street
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
Gold
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
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • #Copper extending gains to highest since 2014 in London -BBG
  • Hang Seng Index (HSI) has likely broken a key resistance level of 26,840, propelled by financial stocks: - HSBC (+5.28%) - Standard Chartered (+3.59%) - Ping An Insurance (+2.45%) https://t.co/XBv5In1NJ5
  • Japanese PM Suga says Japan doing everything it can to protect jobs - BBG
  • The Swiss Franc may continue higher against the US Dollar as technical pressure favors USD/CHF bears..Get your $USDCHF market update from @FxWestwater here:https://t.co/yqJbbhAWiu https://t.co/wMZn4SDCp8
  • Precious Metals Technical Analysis: #Gold and #Silver Rebound at Hand? - https://www.dailyfx.com/forex/technical/home/analysis/xau-usd/2020/11/25/Precious-Metals-Technical-Analysis-Gold-and-Silver-Rebound-at-Hand--.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr $GLD $SLVR https://t.co/wHwsO23TLu
  • Currency traders may eye US PCE inflation data today for clues about continuous rising price levels and how it may impact the Fed’s monetary decisions. Find out more on the DailyFX economic calendar. https://www.dailyfx.com/economic-calendar#today https://t.co/jlmSkHmhE0
  • Japanese PM Suga: - Employment impact from virus being watched closely - Will take continuous action on labor market if needed $USDJPY
  • The US Dollar lost ground to most ASEAN currencies as Emerging Market assets climbed despite US economic woes. USD/INR is eyeing third-quarter Indian GDP at the end of the week. Get your market update from @ddubrovskyFX here:https://t.co/urDN2b5Nwd https://t.co/BZg9Si833v
  • I am generally of the mind that the markets have run far beyond fundamentals and value, which doesn't mean it has to stop imminently. Another leg higher could come on behalf of a US stimulus boost which can supplement th... https://t.co/xu2uA2ylXU https://t.co/Ng8hdHjVJk
  • Japan's Nikkei 225 Index nearly 2% higher as Wednesday's trading session opens https://t.co/uoS9pGIvGa
Graphic Rewind: US Dollar Falls to a Weekly Low on PBOC Yuan Reforms

Graphic Rewind: US Dollar Falls to a Weekly Low on PBOC Yuan Reforms

2013-11-19 19:03:00
Benjamin Spier, Technical Strategist
Share:

Talking Points:

  • US Dollar declines on announcement of looser Yuan controls
  • RBA minutes send greenback lower against the Aussie

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

US Dollar 15-Minute 12:00 11/18 to 12:00 11/19 EST

Graphic_Rewind_US_Dollar_Falls_to_a_Weekly_Low_on_PBOC_Yuan_Reforms__body_Picture_1.png, Graphic Rewind: US Dollar Falls to a Weekly Low on PBOC Yuan Reforms

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

The Dow Jones FXCM Dollar Index set a new weekly low on news out of Australia and China.

The US Dollar started the second half of the NY session on Monday with a brief spike on comments from Fed’s Dudley. Dudley sounded hawkish when he said that inflation will rise towards the Fed’s target and that he’s hopeful that the economy is rebounding. However, the greenback erased those gains when Dudley made a few dovish statements during a question and answer session.

Overnight between Monday and Tuesday, the RBA released the minutes from its November policy meeting. The comments did leave open the possibility for further rate cuts, but the general optimistic tone sent the Aussie higher against major currencies like the Dollar.

Finally, at the beginning of the London session, the US Dollar fell further on an announcement from PBOC Governor Zhou that the central bank would loosen controls on the Yuan exchange rate. But the drop to the weekly low in the Dollar Index was temporary, as the greenback recovered over the London session.

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