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
More View more
Real Time News
  • Gold prices moved higher last week, but an upbeat US retail sales report underpinned Treasury yields on Friday, which weighed on bullion. Chinese Q3 GDP is in focus for XAU traders. Get your weekly gold forecast from @FxWestwater here: https://t.co/L9JstXgjx0 https://t.co/rCikjEv1Fm
  • Equity traders often focus their approach on specific sectors, designed to fit with their approach and style. What sector are you going to target? Read more to find out!https://t.co/5gbiHmY8yl https://t.co/dzRs61zPlt
  • Further, your trading knowledge and gain informed market analyses from our expert analysts @CVecchioFX and @PaulRobinsonFX on #Gold with our free Q4 guide, available for free today.https://t.co/b9XwwYS9uJ #Dailyfxguides https://t.co/TyYR6QTb7j
  • #DidYouKnow a #Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out here:https://t.co/c51s3IBcEu https://t.co/Iw79Q27Qka
  • Futures have their own set of characteristics and appeal to different types of traders and investors for a variety of reasons. Get your free trading guide and learn to trade the markets with futures here. Download your guide today!https://t.co/72oKM0kLHL https://t.co/rH0da7fBrb
  • RT @ZabelinDimitri: Marx once wrote that “history repeats itself, first as tragedy, second as farce”. In a sadistically comical way, he may…
  • Further your forex knowledge and gain insights from our expert analyst @ @MartinSEssex and @DColman on EUR with our free Q4 market analysis guide, available for free today.https://t.co/YwV249fojQ #Dailyfxguides https://t.co/mTXkxBmwUj
  • US Dollar losing its appear demand picks up for major counterparts. Risk of larger setback as risk appetite stabilises. Get your weekly US Dollar forecast from @JMcQueenFX here: https://t.co/eA3ZKnp0Ml https://t.co/7aggYP5haa
  • Believe it or not, some stocks may actually be more attractive in a bear market. Learn more about Defensive stocks here:https://t.co/TMcbMALtbw https://t.co/FQFnd3SIkG
  • Further your forex knowledge and gain insights from our expert analysts @JohnKicklighter and @JStanleyFX on $USD with our free Q4 market analysis guide, available for free today. https://t.co/7G7pWntiyY #DailyFXGuides https://t.co/k803MjNfTC
US Dollar Gains on Earnings Season Jitters, Citigroup Results on Tap

US Dollar Gains on Earnings Season Jitters, Citigroup Results on Tap

Ilya Spivak, Head Strategist, APAC

The US Dollar rose overnight as markets turned defensive ahead of a pickup in the third-quarter corporate earnings reporting season. Citigroup results are on tap.

Talking Points

  • Overnight Dollar Gains May Be Linked Fears Surrounding Q3 Earnings
  • US Economic Data, Citigroup Inc Results Headline Scheduled Event Risk

The US Dollar pushed higher broadly higher in overnight trade. While a single catalyst for the advance is not readily apparent, a pickup in haven demand for the greenback seems reasonable as traders cast a worried eye toward the week ahead. The third-quarter corporate earnings reporting season gathers pace over the coming days – 84 members of the S&P 500 are due to release results – and traders may be positioning for companies’ guidance to point to a deepening slowdown in global performance.

Citigroup Inc headlines today’s earnings docket. The earnings of large financial institutions may prove particularly telling in revealing the discrete and overlapping implications of economic and financial vulnerabilities plaguing the global outlook. With that in mind, traders will be keen to see not how the third-largest US bank faired over the past three months and where it sees its fortunes heading from here.

On the data front, the European calendar is broadly uneventful, shifting the spotlight to September’s US Retail Sales data and October’s Empire Manufacturing survey of New York State factory-sector activity. Positive outcomes are likely to support risk appetite, buoying hopes that a firmer US recovery will help offset sluggish performance elsewhere and weighing on the greenback against most of its top counterparts (with the likely exception of the Yen). Soft results will probably produce the opposite dynamic.

Asia Session: What Happened

GMT

CCY

EVENT

ACT

EXP

PREV

21:30

NZD

Performance Services Index (SEP)

49.6

-

50.0

23:01

GBP

Rightmove House Prices (MoM) (OCT)

3.5%

-

-0.6%

23:01

GBP

Rightmove House Prices (YoY) (OCT)

1.5%

-

0.7%

0:00

AUD

Owner-Occupied Home Loan Values (MoM) (AUG)

1.3%

-

-0.9% (R+)

0:30

AUD

Home Loans (AUG)

1.8%

1.5%

-0.7% (R+)

0:30

AUD

Investment Lending (AUG)

-0.8%

-

-1.6% (R+)

0:30

AUD

New Motor Vehicle Sales (MoM) (SEP)

4.7%

-

4.3% (R+)

0:30

AUD

New Motor Vehicle Sales (YoY) (SEP)

14.4%

-

6.6% (R+)

1:30

CNY

Consumer Price Index (YoY) (SEP)

1.9%

1.9%

2.0%

1:30

CNY

Producer Price Index (YoY) (SEP)

-3.6%

-3.5%

-3.5%

4:30

JPY

Industrial Production (MoM) (AUG F)

-1.6%

-

-1.3%

4:30

JPY

Industrial Production (YoY) (AUG F)

-4.6%

-

-4.3%

4:30

JPY

Capacity Utilization (MoM) (AUG F)

-2.6%

-

0.5%

Euro Session: What to Expect

GMT

CCY

EVENT

EXP

PREV

IMPACT

7:15

CHF

Producer & Import Prices (YoY) (SEP)

0.1%

-0.1%

Low

7:15

CHF

Producer & Import Prices (MoM) (SEP)

0.2%

0.5%

Low

8:30

EUR

Italian General Government Debt (€) (AUG)

-

1967.5B

Medium

Critical Levels

CCY

SUPPORT

RESISTANCE

EURUSD

1.2885

1.2988

GBPUSD

1.5985

1.6107

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to ispivak@dailyfx.com

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

DISCLOSURES