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
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
More View more
Real Time News
  • 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/Yl9vM7kO6a https://t.co/otJwnuR7qe
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/s4lZWdJoXV
  • The US Dollar Index traded higher last week, sustaining its broader uptrend. Conflicting technical signals urge caution, but the directional bias remains skewed to the upside. Get your weekly USD technical forecast from @FxWestwater here: https://t.co/jcwhcsUBEN https://t.co/tKrlrRZlZn
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here: https://t.co/KDjIjLdTSk https://t.co/MGy9OTXpUI
  • The Australian Dollar still remains vulnerable as it extends losses against its major counterparts. What is the road ahead for AUD/USD, AUD/JPY, AUD/NZD and AUD/CAD? Get your AUD technical forecast from @ddubrovskyFX here: https://t.co/ph20zFv4qS https://t.co/v4g9ATf4rr
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Learn about the importance of the ISM manufacturing index here: https://t.co/Xr3xtoFpZy https://t.co/De69mTseZN
  • Take a closer look visually at the most influential global importers and exporters here: https://t.co/G58J1dg6y3 https://t.co/D7AeTM5OpH
  • EUR/USD tumbled last week on the day of the ECB’s latest policy announcement, and that weakness is set to continue this week as a flood of major Eurozone economic statistics is released. Get your weekly Euro forecast from @MartinSEssex here: https://t.co/9B4rJnzWuz https://t.co/ENF3xlkuyP
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here: https://t.co/rz7fqi8ZEe https://t.co/Gps2Xp32h9
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here: https://t.co/kODPAfJE79 https://t.co/hftCEho1lM
US Dollar May Fall as Fed Meeting Minutes Inspire Profit-Taking

US Dollar May Fall as Fed Meeting Minutes Inspire Profit-Taking

Ilya Spivak, Head Strategist, APAC

Talking Points:

  • British Pound Unlikely to Find Fuel in BOE Minutes, Jobless Claims Figures
  • US Dollar Disproportionally Vulnerable to Drop on FOMC Meeting Minutes
  • See Economic Releases Directly on Your Charts with the DailyFX News App

The release of minutes from this month’s Bank of England policy meeting is unlikely to offer much by way of directional guidance for the British Pound. Last week’s publication of the central bank’s Quarterly Inflation Report already presented markets with the latest on where Mark Carney and company intend to steer in the coming months. That means the Minutes document is unlikely to deliver much that is not already priced into the exchange rate. The same goes for January’s UK Jobless Claims report, where a 25,000 drop in applications for unemployment benefits is expected.

Later in the day, the spotlight turns to minutes from January’s FOMC meeting. The report may carry a disproportionally higher risk of generating US Dollar weakness versus strength. The greenback has struggled to build upside momentum even when high-profile economic data proved decidedly upbeat (such as January’s payrolls print). This likely reflects over-extended positioning, with speculators near their most net-long on record according to data from CFTC. With that in mind, a purely status-quo text may not yield much by way of directional momentum. On the other hand, an expression of worries about an increasingly wobbly global landscape may pour cold water on rate hike speculation and send the benchmark unit downward.

New to FX? START HERE!

Asia Session

GMT

CCY

EVENT

ACT

EXP

PREV

23:00

AUD

Conference Board Leading Index (MoM) (DEC)

0.4%

-

0.1%

23:30

AUD

Westpac Lending Index (MoM) (JAN)

0.1%

-

0.0%

2:49

JPY

BOJ Annual Rise in Monetary Base

¥80T

¥80T

¥80T

3:00

JPY

BOJ’s Kuroda Press Conference

-

-

-

6:00

JPY

Machine Tool Orders (YoY) (JAN F)

-

20.4%

European Session

GMT

CCY

EVENT

EXP

PREV

IMPACT

9:30

GBP

Bank of England Minutes

-

-

High

9:30

GBP

Jobless Claims Change (JAN)

-25.0K

-29.7K

High

9:30

GBP

Claimant Count Rate (JAN)

2.5%

2.6%

Medium

9:30

GBP

Avg Weekly Earnings (3M/Y) (DEC)

1.7%

1.7%

Low

9:30

GBP

Avg Weekly Earnings ex Bonus (3M/Y) (DEC)

1.8%

1.8%

Low

9:30

GBP

ILO Unemployment Rate (3mths) (DEC)

5.8%

5.8%

Medium

9:30

GBP

Employment Change (3M/3M) (DEC)

50K

50K

Low

10:00

EUR

Eurozone Construction Output (MoM) (DEC)

-

-0.1%

Low

10:00

EUR

Eurozone Construction Output (YoY) (DEC)

-

2.2%

Low

10:00

CHF

Credit Suisse ZEW Survey Expectations (FEB)

-

-10.8

Low

Critical Levels

CCY

Supp 3

Supp 2

Supp 1

Pivot Point

Res 1

Res 2

Res 3

EURUSD

1.1140

1.1267

1.1339

1.1394

1.1466

1.1521

1.1648

GBPUSD

1.5188

1.5273

1.5313

1.5358

1.5398

1.5443

1.5528

--- 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