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.



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
Oil - US Crude
Wall Street
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
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in AUD/JPY are at opposite extremes with 63.58%. See the summary chart below and full details and charts on DailyFX:
  • Commodities Update: As of 11:00, these are your best and worst performers based on the London trading schedule: Silver: 1.57% Oil - US Crude: 1.01% Gold: 0.38% View the performance of all markets via
  • Forex Update: As of 11:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.46% 🇨🇭CHF: 0.42% 🇦🇺AUD: 0.41% 🇨🇦CAD: 0.29% 🇳🇿NZD: 0.20% 🇯🇵JPY: -0.29% View the performance of all markets via
  • Ever wonder if there are other chart types that can be used for technical analysis? HLOC charts are discussed in the following article as well as their pros and cons. Learn more here:
  • Indices Update: As of 11:00, these are your best and worst performers based on the London trading schedule: US 500: 0.42% Wall Street: 0.37% Germany 30: 0.19% FTSE 100: 0.14% France 40: -0.09% View the performance of all markets via
  • France 40 IG Client Sentiment: Our data shows traders are now net-long France 40 for the first time since Dec 22, 2020 when France 40 traded near 5,477.70. A contrarian view of crowd sentiment points to France 40 weakness.
  • Coming up in 20'. Please join me if you're free by clicking the link below
  • 💶 ZEW Economic Sentiment Index (JAN) Actual: 58.3 Previous: 54.4
  • 🇩🇪 ZEW Current Conditions (JAN) Actual: -66.4 Expected: -68.5 Previous: -66.5
  • 🇩🇪 ZEW Economic Sentiment Index (JAN) Actual: 61.8 Expected: 60 Previous: 55.0
US Dollar Up as Wage Inflation, Biden Stimulus Pledge Drive Fed Outlook

US Dollar Up as Wage Inflation, Biden Stimulus Pledge Drive Fed Outlook

Ilya Spivak, Head Strategist, APAC


  • US Dollar up as wage inflation uptick, Biden stimulus pledge boost yields
  • Steepening yield curve, widening rate spreads speak to Fed outlook shift
  • Weak Chinese CPI data may moderate risk-off tilt in Asia-Pacific trade
Top Trading Opportunities in 2021
Top Trading Opportunities in 2021
Recommended by Ilya Spivak
Get Your Free Top Trading Opportunities Forecast
Get My Guide

The US Dollar rose in the wake of December’s labor market report on Friday. While the headline payrolls print disappointed, showing the economy shed 140,000 jobs last month instead of adding 71,000 as projected by economists, wage inflation unexpectedly spiked to a seven-month high of 5.1 percent on-year.

Tellingly, the markets responded to the release with what seemed like a shift away from dovish extremes on Fed policy expectations. The slope of the US Treasury yield curve (10y-2y) steepened alongside the spread between the benchmark US 10 year yield and an average of major alternatives. Gold prices sank.

Traders may have reasoned that incoming fiscal stimulus will underpin employment – making December’s payrolls print somewhat dated – while price growth might only accelerate further. This could more definitively bury the prospects for additional monetary accommodation, at least in the near term.

US Dollar Up as Rising Yields Signal Supportive Fed Outlook Shift

Chart created with TradingView

Wall Street struggled against this backdrop but shares roared higher into the close as President-elect Biden pledged to lay out plans for another fiscal stimulus boost Thursday this week. Upbeat comments from Fed Vice Chair Clarida talking up scope for recovery in 2021 probably helped as well.


That burst of optimism does not appear to be carrying over into early Asia-Pacific trade as markets return from the weekend. Bellwether S&P 500 futures are pointing lower and Australia’s ASX 200 has started the day on the defensive. Rising yields may well be the culprit. Japan is closed for a holiday.

December’s Chinese CPI data headlines a barebones economic calendar. The on-year inflation rate is seen registering flat (0.0%), marking a cautious recovery from November’s -0.5% contraction. Recent price growth readings have tended to surprise to the downside, warning more of the same may be ahead.

Markets might cheer a lower-than-expected CPI print if it materializes, moderating risk-off pressure. Investors may reckon that such a result gives the PBOC more room to expand its own stimulus efforts, particularly as financial conditions in the world’s number-two economy appear somewhat restrictive.

Traits of Successful Traders
Traits of Successful Traders
Recommended by Ilya Spivak
Traits of Successful Traders
Get My Guide


--- Written by Ilya Spivak, Head APAC Strategist for

To contact Ilya, use the comments section below or @IlyaSpivak on Twitter

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