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
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
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
Bearish
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • Using margin in forex trading is a new concept for many traders, and one that is often misunderstood. Margin is the minimum amount of money required to place a leveraged trade and can be a useful risk management tool. Learn about margin trading here: https://t.co/qZCE5asCzM https://t.co/yxE0OmLIP0
  • Entry orders are a valuable tool in forex trading. Traders can strategize to come up with a great trading plan, but if they can’t execute that plan effectively, all their hard work might as well be thrown out. Learn how to place entry orders here: https://t.co/1mnOXUd00T https://t.co/iSrjZTeWwf
  • There are many different types of forex orders, which traders use to manage their trades. While these may vary between different brokers, there tends to be several basic FX order types all brokers accept. Learn about different FX order types here: https://t.co/WeLInepZiD https://t.co/7B0KI8HehW
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/Yl9vM73cHA https://t.co/vGW5BygTXU
  • When it comes to buying and selling forex, traders have unique styles and approaches. Learn about buying and selling forex here: https://t.co/xngExEdFdu https://t.co/kqpJ6oGXgt
  • 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/F4dXbUzU3o https://t.co/G0ZWWVtSrZ
  • 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/IsnpfIZNKr https://t.co/5js6tWk5bY
  • The Euro has regained lost ground against its major counterparts recently. Are further gains in the offing or is this just a short-term countertrend correction? EUR/USD, EUR/JPY, EUR/GBP, EUR/NZD key levels. Get your market update from @DanielGMoss here:https://t.co/Z71MZEIJWC https://t.co/YAr1kN4eKd
  • Coinbase’s impending initial public offering could provide the necessary fuel for Bitcoin to push to fresh record highs in the coming days. Get your market update from @DanielGMoss here:https://t.co/twdu0zqmIM https://t.co/72HRMZlKUn
  • The Swiss Franc has positioned itself against key levels versus the Australian Dollar, New Zealand Dollar and Euro over the past week. Where next for AUD/CHF, NZD/CHF and EUR/CHF? Find out from @FxWestwater here:https://t.co/CrtQGzvWnm https://t.co/j5Zjn5zY0D
US Dollar, Yen May Rise on Hawkish Shift in FOMC Rhetoric

US Dollar, Yen May Rise on Hawkish Shift in FOMC Rhetoric

Ilya Spivak, Head Strategist, APAC

Talking Points:

  • Hawkish Shift in FOMC Rhetoric May Boost US Dollar, Sink Risk Appetite
  • Status-Quo BOE Meeting Minutes Unlikely to Spark British Pound Volatility
  • See Economic Releases Directly on Your Charts with the DailyFX News App

All eyes are on the Federal Reserve monetary policy announcement in the hours ahead. This time around, the statement from the FOMC rate-setting committee will be accompanied by an updated set of policymakers’ forecasts for key economic indicators and the trajectory of interest rates. Fed Chair Janet Yellen will also hold a press conference.

The central issue at hand remains the likely timing of the first post-QE interest rate hike. Fed funds futures imply priced-in expectations for an increase sometime around November-December of next year. US economic performance appears to be accelerating anew however after a period of moderation from early September through late November. This may prompt the central bank to adopt a rosier tone, fueling bets on sooner tightening.

A key variable in the debate is the precipitous slide in oil prices. On one hand, the move has weighed on inflation expectations, which has been cited as an important reason for the Fed to maintain a relatively dovish posture. That seems unlikely however. For the consumption-driven US economy, the boost to incomes from lower energy costs supporting output growth and ultimately inflation may be seen as more significant than sub-target price pressure in the near term.

Relatively hawkish Fed rhetoric is likely to boost the US Dollar as traders adjust their timeline to reflect the onset of stimulus removal earlier next year. It may likewise amplify year-end liquidation flows, putting pressure on higher-yielding currencies like the Australian and New Zealand Dollars while boosting haven demand for the Japanese Yen.

Minutes from December’s Bank of England monetary policy meeting headline the calendar in European hours. Traders will be most interested in the voting pattern on the MPC committee. On one hand, a slight improvement in UK economic news-flow between the central bank’s November and December sit-downs suggests the doves probably did not expand their 7-2 majority. On the other, performance remained tepid and headwinds from the Eurozone continued to mount, meaning the hawks probably failed to make headway. On balance, this points toward a status-quo result, which seems unlikely to yield a strong response from the British Pound.

New to FX? START HERE!

Asia Session

GMT

CCY

EVENT

ACT

EXP

PREV

21:45

NZD

Current Account Balance (3Q)

-5.000B

-5.300B

-1.081B

21:45

NZD

Current Account GDP Ratio (3Q)

-2.6%

-2.8%

-2.5%

23:30

AUD

Westpac Leading Index (MoM) (NOV)

-0.06%

-

0.07%

23:50

JPY

Trade Balance Total (NOV)

-¥891.9B

-¥992.0B

-¥736.9B

23:50

JPY

Adjusted Trade Balance (NOV)

-¥925.0B

-¥982.8B

-¥985.1B

23:50

JPY

Exports (YoY) (NOV)

4.9%

7.0%

9.6%

23:50

JPY

Imports (YoY) (NOV)

-1.7%

1.7%

3.1

0:00

AUD

Skilled Vacancies (MoM) (NOV)

-0.8%

-

0.0%

1:45

CNY

MNI Business Indicator (DEC)

56.2

-

55.2

European Session

GMT

CCY

EVENT

EXP

PREV

IMPACT

8:00

CHF

KOF Institute Winter Economic Forecast

-

-

Low

9:30

GBP

Claimant Count Rate (NOV)

2.7%

2.8%

Medium

9:30

GBP

Jobless Claims Change (NOV)

-20.0K

-20.4K

Medium

9:30

GBP

Average Weekly Earnings (3M/YoY) (OCT)

1.2%

1.0%

Low

9:30

GBP

Weekly Earnings ex Bonus (3M/YoY) (OCT)

1.6%

1.3%

Low

9:30

GBP

ILO Unemployment Rate (3M) (OCT)

5.9%

6.0%

Medium

9:30

GBP

Employment Change (3M/3M) (OCT)

137K

112K

Low

9:30

GBP

BOE Publishes December Meeting Minutes

-

-

High

10:00

EUR

Eurozone CPI (MoM) (NOV)

-

-0.2%

Medium

10:00

EUR

Eurozone CPI (YoY) (NOV F)

0.3%

0.3%

Medium

10:00

EUR

Eurozone CPI Core (YoY) (NOV F)

0.7%

0.7%

Medium

10:00

EUR

Eurozone Labor Costs (YoY) (3Q)

1.2%

Low

10:00

CHF

ZEW Survey (Expectations) (DEC)

-7.6

Medium

Critical Levels

CCY

Supp 3

Supp 2

Supp 1

Pivot Point

Res 1

Res 2

Res 3

EURUSD

1.2233

1.2369

1.2440

1.2505

1.2576

1.2641

1.2777

GBPUSD

1.5368

1.5542

1.5646

1.5716

1.5820

1.5890

1.6064

--- 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