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.

Free Trading Guides
EUR/USD
Bearish
Oil - US Crude
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
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
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
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
  • Why must financial market traders monitor both monetary and fiscal policy? Find out from @MartinSEssex here: https://t.co/Fkzk88Y5gm https://t.co/AldbSctm9V
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here: https://t.co/yF133btXFd https://t.co/Sjnr0iVgAf
  • Upside momentum stalls with the #DAX and #FTSE 100 vulnerable to testing lower levels as the economic backdrop deteriorates further. Get your #equities technical analysis from @JMcQueenFX here: https://t.co/BFIaXTfDcs https://t.co/q0Mso4zWlT
  • RT @iv_technicals: *TRUMP SAYS HE'D USE TARIFFS IF NEEDED TO PROTECT OIL INDUSTRY - BBG #OOTT #WTI $USO
  • After the pattern is composed with the closing of the signal candle, then you can look to the following candle to identify a clear bias and risk points. Learn how to apply this knowledge to a trading strategy here: https://t.co/uh3NwgHBVv https://t.co/yl4KUMNmUh
  • Asia’s vast and growing importance to the world economy is not yet matched by the presence of a currency trading center to rival the established order. Get your update on market drivers in Asia here: https://t.co/r3Ku0p9dw1 https://t.co/CU5vMilpLH
  • - Gold prices may suffer if FOMC minutes spark risk aversion, concerns about liquidity - #XAUUSD could face additional selling pressure if employment data sours sentiment - Ballooning credit risks from distressed corporate debt markets may cap gold’s gains https://www.dailyfx.com/forex/fundamental/forecast/weekly/chf/2020/04/04/Gold-Prices-May-Fall-on-FOMC-Minutes-Recession-Credit-Risks.html
  • The bear flag pattern is a popular price pattern used by technical traders within the financial markets to determine trend continuations. Learn how to spot a bear flag pattern here: https://t.co/zg8QzS3ytS https://t.co/A8fvEmmh0K
  • Have you joined @DailyFX @facebook group yet? Discuss your #forex strategies and brush up on your skills with us here: https://t.co/VsfbITIb6B https://t.co/qSLzCiGVxa
  • S&P 500 Sinks as Unemployment Spikes; VIX Index Drops? -via @DailyFX “#StockMarket recovery stymied by dismal jobs report. #Volatility down, but extreme fear lingers.” Latest Forecast: https://www.dailyfx.com/forex/market_alert/2020/04/04/spx-sp500-sinks-as-unemployment-spikes-vix-index-price-drops.html $SPY $SPX $ES_F #Stocks #Analysis #Trading https://t.co/qwfhehTnbt
Forex: US Dollar Treading Water as Markets Digest FOMC Outcome

Forex: US Dollar Treading Water as Markets Digest FOMC Outcome

2013-09-20 09:05:00
Ilya Spivak, Head Strategist, APAC
Share:

Talking Points

  • US Dollar in Consolidation Mode as Markets Digest FOMC Outcome
  • Comments From Fed’s Bullard, George May Stoke Market Volatility
  • Canadian Dollar Underperforming Ahead of Augusts’ Inflation Data

The US Dollar was little-changed against its leading counterparts in overnight trade as currency markets consolidated after two days of aggressive volatility in the aftermath of Wednesday’s FOMC policy announcement. The greenback plunged after Ben Bernanke and company unexpectedly opted not to trim the size of the central bank’s QE3 effort and retraced higher over the subsequent 24 hours as a supportive set of Jobless Claims and Existing Home Sales figures helped drive a correction.

The economic calendar is quiet in European and US hours and S&P 500 futures are trading flat ahead of the opening bell on Wall Street, hinting quiet consolidation is likely to continue into the week-end. Headline risk is not totally absent however, with speeches from Kansas City Fed President Esther George and St. Louis Fed President James Bullard due to cross the wires. Both are current members of the rate-setting FOMC committee and any comments that further illuminate this week’s decision to withhold “tapering” asset purchases and/or help shape expectations for the months ahead may generate volatility.

The Canadian Dollar came under pressure ahead of Augusts’ Consumer Price Index data due later in the day. The report is expected to show the benchmark year-on-year inflation rate slowed to 1.1 percent, marking the lowest reading in three months. Canadian economic data has tended to underperform relative to expectations since mid-June and traders suspect that more of the same can help build the case for a dovish turn in BOC monetary policy.

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

Asia Session:

GMT

CCY

EVENT

ACT

EXP

PREV

22:00

NZD

ANZ Job Advertisements (MoM) (AUG)

-1.4%

-

4.0%

22:45

NZD

Net Migration s.a. (AUG)

2100

-

1960

3:00

NZD

Credit Card Spending (YoY) (AUG)

6.6%

-

4.8%

3:00

NZD

Credit Card Spending (MoM) (AUG)

1.2%

-

-0.2%

5:30

JPY

Nationwide Dept Store Sales (YoY) (AUG)

2.7%

-

-2.5%

5:30

JPY

Tokyo Dept Store Sales (YoY) (AUG)

5.6%

-

-1.0%

7:00

JPY

Convenience Store Sales (YoY) (AUG)

-1.4%

-

-0.8%

Euro Session:

GMT

CCY

EVENT

EXP/ACT

PREV

IMPACT

8:30

GBP

PSNB ex Interventions (£) (AUG)

13.2B (A)

0.2B

Low

8:30

GBP

PSNB ex Royal Mail, APF (£) (AUG)

13.2B (A)

0.7B

Low

8:30

GBP

Public Sector Net Borrowing (£) (AUG)

11.5B (A)

-1.1B

Low

8:30

GBP

Public Finances (PSNCR) (£) (AUG)

-3.0B (A)

-21.1B

Low

14:00

EUR

Euro-Zone Consumer Confidence (SEP A)

-14.5

-15.6

Medium

Critical Levels:

CCY

SUPP 3

SUPP 2

SUPP 1

Pivot Point

RES 1

RES 2

RES 3

EURUSD

1.3397

1.3465

1.3497

1.3533

1.3565

1.3601

1.3669

GBPUSD

1.5809

1.5939

1.5986

1.6069

1.6116

1.6199

1.6329

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

To receive Ilya's analysis directly via email, please SIGN UP HERE

Contact and follow Ilya on Twitter: @IlyaSpivak

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

DISCLOSURES

News & Analysis at your fingertips.