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
EUR/USD
Bullish
Oil - US Crude
Bearish
Wall Street
Mixed
Gold
Bearish
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 2.37% Gold: 0.91% Oil - US Crude: -0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/OcKlpGbJvJ
  • #Gold Price Outlook: $XAUUSD Pops, Resistance at Prior Support - https://t.co/ZMukXQfl3z https://t.co/ApjvP4xb1F
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.19%, while traders in EUR/USD are at opposite extremes with 61.70%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/2yhFXRJBjw
  • Micron Q4 2020 Earnings: Revenue: $6.06B vs $5.90B exp EPS: $1.08 vs $0.99 exp Guides Q1 revenue $5B to $5.4B vs $5.33B exp $MU shares just 1% higher in after-hours trading
  • Regeneron reports positive data for its Covid-19 antibody drug, saying it helped reduce viral levels and improved symptoms faster, according to CNBC
  • today's webinar has been archived and is ready to go https://www.dailyfx.com/forex/video/live_events/2020/09/29/us-dollar-price-action-setups-eur-usd-aud-usd-gbp-usd.html
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: US 500: 0.03% Wall Street: 0.02% Germany 30: 0.02% France 40: -0.07% FTSE 100: -0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/BPGABPy6pD
  • Gold price decline from triangle has room to 1800-area. Get your $XAUUSD market update from @PaulRobinsonFX here: https://t.co/bK4bo43DXw https://t.co/UVMGMAAkS3
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Silver: 2.95% Gold: 0.84% Oil - US Crude: -0.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/FPnLbC3Pxf
  • With Eurozone economic data shrugging in recent weeks, European Central Bank interest rate expectations have been creeping forward towards April 2021. Get your $EURUSD market update from @CVecchioFX here: https://t.co/vBPciSW5pH https://t.co/qubKMRFnjv
US Dollar Looks to Durables, Consumer Confidence to Set Tone for FOMC

US Dollar Looks to Durables, Consumer Confidence to Set Tone for FOMC

2014-10-28 02:01:00
Ilya Spivak, Head Strategist, APAC
Share:

Talking Points:

  • Quiet European Data Calendar to Put Spotlight on US Economic News-Flow
  • US Dollar May Rise as Durables, Confidence Figures Tame Dovish Fed Bets
  • See Economic Releases Directly on Your Charts with the DailyFX News App

A quiet economic calendar in European trading hours is likely to see traders looking ahead to the US data docket, where September’s Durable Goods Orders and October’s Consumer Confidence are on tap. Improvements are expected on both fronts, which may help moderate bets on a dovish rhetorical shift at this week’s Federal Reserve policy announcement and offer a boost to the US Dollar. Follow-through will probably prove limited however, with investors unwilling to commit to a firm directional bias until the statement following the FOMC committee sit-down is unveiled.

Recent weeks have witnessed a moderation in the post-QE3 Fed tightening outlook as global slowdown fears encouraged speculation that the central bank will want to safe-guard the US recovery from knock-on effects of weakness elsewhere by delaying normalization. Indeed, Fed Funds futures now reveal priced-in expectations of a rate hike no sooner than December of next year, far later than prior bets calling for a move around mid-year.

A change FOMC statement reflecting renewed concerns about persistently low inflation would validate this shift. Alternatively, a restatement of the status quo would hint the markets’ newfound dovish lean has over-reached. Considering the Fed’s steady hand through the first-quarter slowdown in US economic performance, the latter scenario seems more probable. We have entered short EURUSD.

New to FX? START HERE!

Asia Session

GMT

CCY

EVENT

ACT

EXP

PREV

22:30

AUD

ANZ Roy Morgan Weekly Consumer Conf

114.6

-

111.6

23:50

JPY

Retail Trade s.a. (MoM) (SEP)

2.7%

0.9%

1.9%

23:50

JPY

Retail Trade (YoY) (SEP)

2.3%

0.8%

1.2%

23:50

JPY

Large Retailers' Sales (SEP)

0.5%

0.7%

1.6%

1:30

CNY

Industrial Profits (YoY) (SEP)

0.4%

-

-0.6%

5:00

JPY

Small Business Confidence (OCT)

48.5

47.6

European Session

GMT

CCY

EVENT

EXP

PREV

IMPACT

7:00

EUR

German Import Price Index (MoM) (SEP)

-0.1%

-0.1%

Low

7:00

EUR

German Import Price Index (YoY) (SEP)

-1.9%

-1.9%

Low

Critical Levels

CCY

Supp 3

Supp 2

Supp 1

Pivot Point

Res 1

Res 2

Res 3

EURUSD

1.2582

1.2639

1.2669

1.2696

1.2726

1.2753

1.2810

GBPUSD

1.5979

1.6047

1.6084

1.6115

1.6152

1.6183

1.6251

--- 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