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
Bullish
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
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
Bullish
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
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • The US Dollar may extend gains against the Thai Baht. But, its price action within USD/SGD, USD/PHP and USD/IDR seem to be favoring more range-bound trading conditions. Get your market update from @ddubrovskyFX here:https://t.co/DYCLXAFcCr https://t.co/HSQSmci2Fb
  • The Turkish central bank is on tap tomorrow. You may recall that President Erdogan removed Governor Naci Agbal about a month ago. The benchmark rate is at 19% heading in... https://t.co/GFyKzB3DfF
  • Heads Up:🇺🇸 Fed Kaplan Speech due at 22:05 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-04-14
  • US CDC meeting on Johnson & Johnson shot finishes without a vote, more data needed - BBG
  • NZD/USD attempts to negate a head-and-shoulders formation after defending the March low (0.6943). Get your $NZDUSD market update from @DavidJSong here:https://t.co/QLYcoTUdCG https://t.co/y5wpl479Av
  • #Bitcoin retreats from all-time highs, down 1.5% on the day #BTC $BTCUSD https://t.co/XUZZmTrhgs
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 1.22% 🇦🇺AUD: 1.08% 🇪🇺EUR: 0.26% 🇨🇦CAD: 0.12% 🇯🇵JPY: 0.11% 🇨🇭CHF: -0.24% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/GPRmF1Oi8Z
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 0.35% Gold: -0.48% Oil - US Crude: -0.53% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/gLcl04vcok
  • Fed's Clarida: Before deciding on raising interest rates, we plan to taper
  • Fed's Clarida: - Cryptocurrencies are not seen as a store of value - SEP estimates and the Chair's press conference will reveal whether the economy has advanced well enough to warrant a review of asset purchases
Dollar Response to Dense US Data Docket May Prove Counter-Intuitive

Dollar Response to Dense US Data Docket May Prove Counter-Intuitive

Ilya Spivak, Head Strategist, APAC

Talking Points:

  • US Dollar May Have Counter-Intuitive Response to Dense Data Docket
  • Aussie Dollar Down on Risk Aversion, NZ Dollar Upheld by Trade Report
  • See Economic News Directly on Your Charts with the DailyFX News App

A relatively quiet European economic calendar seems unlikely to generate much interest, with traders looking ahead to a busy docket of US data releases due later in the session. November’s Durable Goods Orders, New Home Sales, and PCE inflation figures as well as the final revision of the third-quarter GDP reading are on tap. Yesterday’s Existing Homes Sales disappointment notwithstanding, US economic news-flow has improved relative to consensus forecasts over the past month. That opens the door for an upside surprise, which may boost Fed interest rate hike expectations.

Typically, one might suspect that a hawkish shift in investors’ outlook for Fed policy might be supportive for the US Dollar, but that is not necessarily a given in the weeks ahead of the calendar year end. The greenback’s confident advance on the back of looming Fed stimulus withdrawal was one of the defining market themes in 2014. Needless to say, that means the markets have had ample opportunity to price in the evidence available thus far. Meanwhile, worries about the impact of Fed tightening on risk appetite in the year ahead may fuel profit-taking on sentiment-geared positions. If that helps engineer a sizable decline in USDJPY amid short-Yen carry trade liquidation, the move may spill over into broader-based Dollar weakness elsewhere.

The Australian Dollar underperformed in otherwise quiet overnight trade, falling as much as 0.2 percent against its leading counterparts. A dip in risk appetite may have been the catalyst behind selling pressure. Asian bourses (excluding Japan, where markets are closed for a holiday) fell 0.2 percent on average, putting pressure on the sentiment-sensitive Aussie. The New Zealand Dollar fared better after Trade Balance figures revealed a smaller than expected 12-month deficit of –NZ$453 million. Economists were calling for a –NZ$774 million shortfall ahead of the release.

New to FX? START HERE!

Asia Session

GMT

CCY

EVENT

ACT

EXP

PREV

21:45

NZD

Trade Balance (NZ$) (NOV)

-213M

-575M

-911M

21:45

NZD

Trade Balance YTD (NZ$) (NOV)

-453M

-774M

-87M

21:45

NZD

Exports (NZ$) (NOV)

4.02B

4.03B

3.99B

21:45

NZD

Imports (NZ$) (NOV)

4.24B

4.58B

4.90B

2:00

NZD

Money Supply M3 (YoY) (NOV)

5.8%

-

5.5%

2:00

CNY

Conference Board Leading Index (NOV)

308.0

-

305.4

European Session

GMT

CCY

EVENT

EXP

PREV

IMPACT

7:45

EUR

French GDP (QoQ) (3Q F)

0.3%

0.3%

Medium

7:45

EUR

French GDP (YoY) (3Q F)

0.4%

0.4%

Medium

9:30

GBP

GDP (QoQ) (3Q F)

0.7%

0.7%

Medium

9:30

GBP

GDP (YoY) (3Q F)

3.0%

3.0%

Medium

9:30

GBP

Index of Services (MoM) (OCT)

0.2%

0.5%

Low

9:30

GBP

Index of Services (3M/3M) (OCT)

0.7%

0.8%

Low

9:30

GBP

Total Business Investment (QoQ) (3Q F)

-0.7%

-0.7%

Low

9:30

GBP

Total Business Investment (YoY) (3Q F)

6.3%

6.3%

Low

9:30

GBP

BBA Loans for House Purchase (NOV)

36400

37076

Low

9:30

GBP

Current Account Balance (£) (3Q)

-23.2B

-23.1B

Low

Critical Levels

CCY

Supp 3

Supp 2

Supp 1

Pivot Point

Res 1

Res 2

Res 3

EURUSD

1.2128

1.2184

1.2207

1.2240

1.2263

1.2296

1.2352

GBPUSD

1.5425

1.5517

1.5554

1.5609

1.5646

1.5701

1.5793

--- 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