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
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
Oil - US Crude
Bullish
Wall Street
Mixed
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
Bullish
GBP/USD
Mixed
USD/JPY
Mixed
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
  • What's the difference between leading and lagging indicators? Find out from here: https://t.co/vGx8HCrRwD https://t.co/7w5jodyzj0
  • Dealing with the fear of missing out – or FOMO – is a highly valuable skill for traders. Not only can FOMO have a negative emotional impact, it can cloud judgment and overshadow logic. Learn how you can control FOMO in your trading here: https://t.co/lgDf5cVYOn https://t.co/L3LPCph2ST
  • Make smart trading decisions with your free guide to trade the news. Download your free guide here.https://t.co/pb5E2KgRzW #DailyFXGuides https://t.co/ysxKO30ZWw
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here: https://t.co/4jsORznRTE https://t.co/5nHxtlZ7nn
  • 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/lqpXwWjVFt
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here: https://t.co/rfwUWJfbz9 https://t.co/CrpXuYgfRO
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here: https://t.co/ZNs4Qi8ieG https://t.co/VzEbQn8blk
  • Brush up your knowledge on trade-wars with this tool from DailyFX research briefly outlining trade-war history dating back to the early 1900s here: https://t.co/bZEFtp8kFe https://t.co/ETF52Q2sLz
  • Did you know 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 https://t.co/c51s3IBcEu https://t.co/AXZxK8Abrh
  • Global stock markets may see turbulent volatility if darkening clouds over Washington’s relations with Beijing turn into a geopolitical storm. Which assets will be the lifeboat? Find out here:https://t.co/RkFI6qAyik https://t.co/9Ppa4d48Ql
US Dollar Looking to Fed-speak for QE Reduction Clues

US Dollar Looking to Fed-speak for QE Reduction Clues

Ilya Spivak, Head Strategist, APAC

The US Dollar is looking to comments from Chicago Fed President Charles Evans to shape expectations for a September move to “taper” stimulus efforts.

Talking Points

  • US Dollar Looking to Comments from Chicago Fed’s Evans for Direction
  • Japanese Yen Sold as Nikkei Rallies on Pension Fund’s Portfolio Shuffle
  • Aussie Dollar Rallies as RBA Offers No Clear Signal on Future Rate Cuts

A relatively quiet economic calendar in European trading hours shifts the spotlight to the US docket, where the focus will be on Chicago Fed President Charles Evans. The vocally dovish policymaker is a voting member of the rate-setting FOMC committee this year. A prepared speech is not scheduled; rather, Evans will be answering reporters’ questions, who will no doubt grill him on the likelihood of a reduction in the Fed’s monthly asset purchases at the September policy meeting. If Evans is perceived to be in favor of “tapering” the size of the QE effort, this is likely to broadly boost the US Dollar, and vice versa.

The Japanese Yen underperformed in overnight trade, falling as much as 0.4 percent on average against its leading counterparts. The move tracked an advance in the Nikkei 225 benchmark stock index, suggesting a sentiment-driven unwinding of carry trades funded in terms of the perennially low-yielding currency was the catalyst behind the move. The news-wires chalked up the Nikkei rally to a Reuters report suggesting Japan’s civil servants’ pension fund is weighing investing more of its capital in shares versus domestic bonds.

The Australian Dollar rallied as expected after the RBA delivered a widely expected 25bps interest rate cut without offering explicit guidance pointing to continued easing at upcoming meetings. The tone of the policy statement turned nominally less dovish, with the punch-line proclaiming policymakers will “continue to assess the outlook and adjust policy as needed,” which stands in contrast to last month’s assertion that the “the inflation outlook… may provide some scope for further easing.” Going forward, this is likely to make for a data-sensitive environment, putting the spotlight on July’s Employment data. Chinese Exports and CPI releases may likewise prove important considering the Aussie’s sensitivity to growth trends in the East Asian powerhouse.

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed

Asia Session:

GMT

CCY

EVENT

ACT

EXP

PREV

23:01

GBP

BRC Sales Like-For-Like (Y/Y) (JUL)

2.2%

2.0%

1.4%

1:30

AUD

Trade Balance (A$) (JUN)

602M

804M

507M

1:30

AUD

House Price Index (QoQ) (2Q)

2.4%

1.0%

0.8%

1:30

AUD

House Price Index (Y/Y) (2Q)

5.1%

3.0%

3.3%

1:30

AUD

ANZ Job Advertisements (M/M) (JUL)

-1.1%

-1.6%

4:30

AUD

Reserve Bank of Australia Rate Decision

2.50%

2.50%

2.75%

5:00

JPY

Leading Index (JUN P)

107.0

107.3

110.7

5:00

JPY

Coincident Index (JUN P)

105.2

105.1

106

Euro Session:

GMT

CCY

EVENT

EXP/ACT

PREV

IMPACT

7:00

GBP

Halifax House Prices s.a. (M/M) (JUL)

0.9% (A)

0.7%

Low

7:00

GBP

Halifax House Price (3M/Y) (JUL)

4.6% (A)

3.7%

Low

8:30

GBP

Industrial Production (M/M) (JUN)

1.1% (A)

0.0%

Medium

8:30

GBP

Industrial Production (Y/Y) (JUN)

1.2% (A)

-2.3%

Medium

8:30

GBP

Manufacturing Production (M/M) (JUN)

1.9% (A)

-0.8%

Low

8:30

GBP

Manufacturing Production (Y/Y) (JUN)

2.0% (A)

-2.9%

Low

9:00

EUR

Italian GDP s.a. and w.d.a. (QoQ) (2Q P)

-0.2% (A)

-0.6%

Medium

9:00

EUR

Italian GDP s.a. and w.d.a. (Y/Y) (2Q P)

-2.0% (A)

-2.4%

Medium

10:00

EUR

German Factory Orders s.a. (M/M) (JUN)

1.0%

-1.3%

Medium

10:00

EUR

German Factory Orders n.s.a. (Y/Y) (JUN)

-0.3%

-2.0%

Medium

Critical Levels:

CCY

SUPPORT

RESISTANCE

EURUSD

1.3228

1.3331

GBPUSD

1.5284

1.5450

--- 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