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.

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
Bearish
Wall Street
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
Gold
Mixed
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: France 40: 0.46% Germany 30: 0.42% FTSE 100: 0.15% US 500: 0.02% Wall Street: -0.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/Q0tktc2KTg
  • Get our analysts’ view on the key fundamentals for Oil in Q2. Download now. https://t.co/bXrPHkaSCn https://t.co/vy6vjot301
  • Once again, $GBP approaching the recent range lows https://t.co/4DVUHR6pEn
  • Coming up in 20': my weekly sentiment webinar in which I look at the charts, the @IGcom client sentiment data, the confidence numbers on the calendar this week and much more. Do join me if you're free... https://t.co/BhGN9fw31Z
  • 💶 Balance of Trade (APR) Actual: €10.9B Previous: €15.8B https://www.dailyfx.com/economic-calendar#2021-06-15
  • Heads Up:💶 Balance of Trade (APR) due at 09:00 GMT (15min) Previous: €15.8B https://www.dailyfx.com/economic-calendar#2021-06-15
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here: https://t.co/CNtqrKWDBY https://t.co/JyxgSYYRzc
  • Please join @MartinSEssex at 5:30 EST/9:30 GMT for a webinar on trading sentiment. Register here: https://t.co/diCwqqa7eS https://t.co/LdEUF5aReq
  • UK confirms that it has agreed a post-Brexit trade deal with Australia $GBP $AUD
  • FX options expiries of note $EURUSD 1.2150-60 (588mln) $EURGBP 0.8600-10 (1.1bln) $USDJPY 110.00 (1.26bln) $AUDUSD 0.7725-30 (1bln)
Running of the Bull: How FOMC Can Spark a USD Rally

Running of the Bull: How FOMC Can Spark a USD Rally

Christopher Vecchio, CFA, Senior Strategist

Talking Points:

- US Dollar could be on the verge of a bull run.

- Look to FOMC's June economic projections for USD fuel.

- Trade FOMC today with Chief Strategist John Kicklighter at 17:45 GMT.

The running of the bulls is typically associated with an early-to-mid July religious festival in Pamplona, Spain, in which racers run down partitioned streets being chased by a dozen or so bulls. Feeling tired? Stopping isn't an option. The bulls stampede everything in their path.

So too may the US Dollar starting today, if the Federal Reserve inadvertently takes a hawkish tone, setting off the running of the bull a month early. There is little doubt that at her press conference today, Fed Chair Janet Yellen will adopt slightly optimistic rhetoric, insofar as it doesn't stray from her main theme that is 'interest rates will remain low for a long time.'

However, unlike the prior Fed meetings, this June iteration calls forward revisions to the Fed's economic projections as well, which are likely to be the most poignant source of optimism for the US Dollar today. Despite Q1 GDP slumping (and more revisions lower possible), Q2 data has been firm and several of the Fed's economic checkpoints have been met.

The video above (about 2x as long as usual) goes into detail parsing out what the FOMC might reveal today, and then ultimately, how this will translate into traders in the USD-complex. The video examines AUDUSD, EURUSD, GBPUSD, USDCHF, and USDJPY.

Read more: US Dollar Needs Optimism from Fed as Q2 Data Starts to Slip

--- Written by Christopher Vecchio, Currency Analyst

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com

Follow him on Twitter at @CVecchioFX

To be added to Christopher’s e-mail distribution list, please fill out this form

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

DISCLOSURES