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
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/9S5tXIs3SX https://t.co/dTQqfHXNtM
  • Gold Prices Test $1800 Ahead of Fed Meeting, Real Yields Fall https://www.dailyfx.com/forex/market_alert/2021/07/27/Gold-Prices-Test-1800-Support-ahead-of-Fed-Meeting-Real-Yields-Fall.html
  • The Hang Seng Tech index tumbled 5.4% amid intensified fears about China's regulatory risk on various sectors. - Tencent (-6.2%) - Alibaba (-5.0%) - Meituan (-13.9%) - Hang Seng Index (-2.5%)
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here: https://t.co/vg7w10la3j https://t.co/A0w6mhPMvH
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.33%, while traders in Wall Street are at opposite extremes with 79.17%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/AY4wL5b1NV
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfJhp91 https://t.co/NrcUfXKP8J
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.16% 🇬🇧GBP: 0.05% 🇪🇺EUR: 0.00% 🇦🇺AUD: -0.02% 🇨🇭CHF: -0.03% 🇳🇿NZD: -0.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/UwJz4Gv6hT
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: France 40: 0.12% FTSE 100: -0.02% Germany 30: -0.04% US 500: -0.16% Wall Street: -0.16% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/cGDe8jiSqf
  • Forex sentiment analysis can be a useful tool to help traders understand and act on price behavior. Learn how to get the most out of understanding trader sentiment here: https://t.co/rJznrXkcYz https://t.co/ne0HPR7lO2
  • China considers levies on steel exports to tame domestic prices - BBG
Dollar Looks for Fed Outlook Cues in Consumer Confidence Data

Dollar Looks for Fed Outlook Cues in Consumer Confidence Data

Ilya Spivak, Head Strategist, APAC

The US Dollar is looking to May’s Consumer Confidence data to inform Fed monetary policy expectations, with a supportive outcome likely to boost prices.

Talking Points

  • US Dollar May Rise if Consumer Confidence Data Boosts Fed QE Reduction Bets
  • Japanese Yen Sold in Asia as Prices Correct After Three Days of Aggressive Gains

Looking ahead, a quiet economic calendar in European trading hours is likely to see traders looking ahead to May’s US Consumer Confidence data as the next key inflection point. Economists’ forecasts suggest the index will rise for a second consecutive month to reach the highest level in six months.

An increasingly firm link between the US Dollar and the 10-year US Treasury bond yield suggests the outlook for Fed policy is in focus. With that in mind, a supportive outcome may drive bets on a reduction in the size of monthly QE purchases and boost the greenback. US news-flow has tended to underperform relative to expectations since late March and technical positioning is worrisome, leaving the door open to the downside scenario.

The Japanese Yen declined in overnight trade, trading down as much as 0.8 percent on average against its leading counterparts. A singular catalyst for the selloff did not present itself, suggesting it likely amounted to a correction in the wake of three days of consecutive Yen gains that brought to the currency to the highest level in a month.

Capitalize on Shifts in Market Mood with the DailyFX Speculative Sentiment Index

Asia Session:

GMT

CCY

EVENT

ACT

EXP

PREV

23:50

JPY

Corporate Service Price (YoY) (APR)

-0.4%

-0.2%

-0.2%

0:00

CNY

Leading Index (APR)

99.8

-

100.0

5:00

JPY

Small Business Confidence (MAY)

48.2

50.0

49.4

Euro Session:

GMT

CCY

EVENT

EXP/ACT

PREV

IMPACT

6:00

CHF

Trade Balance (CHF) (APR)

2.05B

1.89B

Medium

6:00

CHF

Exports (MoM) (APR)

-

5.1%

Low

6:00

CHF

Imports (MoM) (APR)

-

2.0%

Low

6:00

EUR

German Import Price Index (YoY) (APR)

-2.3%

-2.3%

Low

6:00

EUR

German Import Price Index (MoM) (APR)

-0.4%

-0.1%

Low

6:45

EUR

French Consumer Confidence (MAY)

85

84

Low

Critical Levels:

CCY

SUPPORT

RESISTANCE

EURUSD

1.2866

1.2948

GBPUSD

1.5045

1.5141

--- 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, please CLICK HERE

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

DISCLOSURES