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
Bearish
Oil - US Crude
Mixed
Wall Street
Bearish
Gold
Mixed
GBP/USD
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
USD/JPY
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
More View more
Real Time News
  • There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency is the fundamental factor that prevails above them all. Learn how interest rates impact currency markets here: https://t.co/J0EPMD2Cfi https://t.co/rPd6B5KzuI
  • Time-cycle analysis suggests that the Japanese Yen could slide significantly lower against its major counterparts. Key levels for AUD/JPY, EUR/JPY and GBP/JPY. Get your market update from @DanielGMoss here:https://t.co/WPq4Z9zzEw https://t.co/VzVLrBbL9q
  • The Australian Dollar looks poised to outperform the haven-associated US Dollar and Japanese Yen. However, it may lose ground to the New Zealand Dollar. Key levels for AUD/USD, AUD/JPY and AUD/NZD. Get your market update from @DanielGMoss here:https://t.co/cuxRxl5WaF https://t.co/pujrmqSxV7
  • Has anyone explained the risk of inflation on the markets in terms of tendies?
  • The US Dollar is trying to break higher versus ASEAN currencies. The Singapore Dollar, Philippine Peso, Thai Baht and Indonesian Rupiah are under pressure. Will follow-through last? Get your market update from @ddubrovskyFX here:https://t.co/JOWG9q01q0 https://t.co/j2ICxgrLa3
  • The commodity-sensitive Canadian Dollar may continue outperforming its major counterparts in the coming weeks. USD/CAD, CAD/CHF, CAD/JPY and EUR/CAD key levels to watch. Get your $USDCAD market update from @DanielGMoss here:https://t.co/9bkVXQuP5C https://t.co/cLNEG36mZ8
  • We just closed out the heaviest week of volume for the $SPY (US equities) since June and $TLT (Treasuries) since March 16
  • Get your snapshot update of the of market open and closing times for each major trading hub around the globe here: https://t.co/BgZLFljIhZ https://t.co/YjUfOUY3vU
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.30% 🇨🇭CHF: -0.41% 🇬🇧GBP: -0.62% 🇨🇦CAD: -1.12% 🇳🇿NZD: -1.87% 🇦🇺AUD: -2.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/ZdHY0q1ocW
  • #Gold Price Forecast: Gold Breakdown Accelerates – $XAUUSD Bulls Done? - https://t.co/uATlmZg8g6 https://t.co/vIbhg5HOko
USD Slammed, Dovish Central Banks Out in Force - US Market Open

USD Slammed, Dovish Central Banks Out in Force - US Market Open

Justin McQueen, Analyst

MARKET DEVELOPMENT – USD Drops Post FOMC Meeting

USD: The US Dollar decline has shown little signs of abating with the move exacerbated by yesterday’s Fed decision. While the USD had seen an initial move post the release, gains had been quickly pared throughout the European morning, given that the Fed had ultimately provided a dovish rate hike. The Fed Funds rate had increased by 25bps, as widely expected. Although, policymakers reduced the number of rate hikes they see in 2019 via dot plot projections (2 vs. Prev. 3), while also downgrading their inflation and growth forecasts. However, one hawkish element to the statement had been that the Fed did not completely drop the guidance surrounding “further gradual increases” and instead provided a slight tweak to “some gradual increases”, providing a dent to risk assets. That said, with the Fed increasingly data dependent, today’s weak Philly Fed Business index will provide some further discomfort over a slowdown in the US.

SEK: The Riksbank had surprised market participants by providing a rate hike for the first time since 2011, raising the repo rate by 25bps. Consequently, the SEK had surged following the decision, however, gains had been pared slightly after the central bank lowered the rate path, implying a one and done for the Riksbank.

GBP: The Pound saw a brief move above 1.27 after strong November UK retail sales, which had benefitted from the black Friday sales. However, gains had been faded slightly, following the latest BoE rate decision, in which the central bank had provided a relatively downbeat assessment on UK growth and inflation, while Brexit uncertainty continues to keep the BoE on the sidelines.

USD Slammed, Dovish Central Banks Out in Force - US Market Open

Data as of 1345GMT

DailyFX Economic Calendar: Thursday, December 20, 2018 – North American Releases

USD Slammed, Dovish Central Banks Out in Force - US Market Open

DailyFX Webinar Calendar: Thursday, December 20, 2018

USD Slammed, Dovish Central Banks Out in Force - US Market Open

Four Things Traders are Reading

  1. Crude Oil Analysis: Oil Plunge Persists, Oversupply to Spark OPEC Panic” by Justin McQueen, Market Analyst
  2. Bitcoin, Ethereum, Ripple Prices Surge After Hitting Massively Oversold Conditionsby Nick Cawley, Market Analyst
  3. GBP Price Falls as Bank of England Leaves UK Interest Rates Unchanged” by Martin Essex, MSTA, Analyst and Editor
  4. Gold & Silver Price Analysis – FOMC-Spurred Key-reversals Weaken Backdrop” by Paul Robinson, Market Analyst

--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at Justin.mcqueen@ig.com

Follow Justin on Twitter @JMcQueenFX

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

DISCLOSURES