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
Bearish
Oil - US Crude
Bearish
Wall Street
Bullish
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
Bullish
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.52%, while traders in EUR/GBP are at opposite extremes with 63.81%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/omse6hWKhs
  • Heads Up:🇲🇽 Unemployment Rate (AUG) due at 11:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-09-28
  • Heads Up:🇲🇽 Balance of Trade (AUG) due at 11:00 GMT (15min) Previous: $5.799B https://www.dailyfx.com/economic-calendar#2020-09-28
  • Tune in to @CVecchioFX 's #webinar at 7:30 AM ET/11:30 AM GMT for insight on major event risk in the week ahead. Register here: https://t.co/X8TIhpKxtF https://t.co/iOooFjHqZM
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Silver: 0.39% Oil - US Crude: 0.24% Gold: -0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/3Xcd23YqRL
  • YouGov MRP poll has Joe Biden winning 350 electoral college votes vs Donald Trump's 188 https://t.co/WDtIRbAjxc
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 1.14% 🇦🇺AUD: 0.42% 🇨🇭CHF: 0.27% 🇯🇵JPY: 0.20% 🇳🇿NZD: 0.13% 🇨🇦CAD: 0.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/YRBEIKTqht
  • Have you been catching on your @DailyFX podcast "Global Markets Decoded"? Catch up on them now, before new episodes release! https://t.co/Twr44cZ1GB https://t.co/vGsD1XQ1iO
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Germany 30: 2.72% France 40: 2.05% FTSE 100: 1.45% US 500: 0.92% Wall Street: 0.92% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/gndH5K2dbX
  • BoE's Ramsden says the BoE are not about to use negative rates imminently
US Dollar May Resume Advance on Revised 3Q GDP Data

US Dollar May Resume Advance on Revised 3Q GDP Data

2015-12-22 05:02:00
Ilya Spivak, Head Strategist, APAC
Share:

Talking Points:

  • Risk Appetite Unimpressed in Asian Trade as China Hints at More Stimulus
  • Australian, NZ Dollars Rise as US Yields Correct Lower After Fed Rate Hike
  • US Dollar May Resume Advance if Revised 3Q GDP Data Tops Forecasts

Gauge Trends and Spot Reversals in the Major Currencies with DailyFX SSI

The Australian and New Zealand Dollars outperformed in overnight trade. It is tempting to flag hopes for Chinese stimulus expansion as the catalyst for the advance. China’s official Xinhua News Agency reported that leaders called for more “forceful” fiscal policy and more “flexible” monetary policy to foster appropriate conditions for structural reforms at the government’s Central Economic Work Conference.

Equities were conspicuouslyquiet in Asian trade however, casting doubt on the China-driven risk-on narrative. With that in mind, it should be noted that the Aussie and Kiwi Dollars have been trading inversely of front-end US treasury yields since last week’s FOMC rate decision. The rate on the 2-year note hit a five-year high at 1.0167 percent after the announcement and has been retracing since. Within this context, a corrective rebound in higher-yielding alternatives to the greenback seems understandable.

Looking ahead, a revised set of third-quarter US GDP figures is in the spotlight. Expectations point to a slight downward revision, putting the annualized growth rate at 1.9 percent compared with 2.1 percent reported in the prior estimate. Traders will look to the report to inform speculation on the likely path Fed tightening in 2016.

Investors’ priced-in bets envision two rate hikes next year, whereas Chair Yellen and company expect to issue four. This means that markets may be more sensitive to an upside surprise that forces re-pricing of dovish bets versus the alternative. The Aussie and Kiwi may find gains swiftly capped in this scenario, while the US Dollar moves broadly higher.

Asia Session

GMT

CCY

EVENT

ACT

EXP

PREV

00:05

GBP

GfK Consumer Confidence (DEC)

2

1

1

02:00

CNY

Conference Board Leading Index (NOV)

342.9

-

340.7

05:00

JPY

Small Business Confidence (DEC)

48.3

49.0

49.9

European Session

GMT

CCY

EVENT

EXP

PREV

IMPACT

07:00

CHF

Trade Balance (NOV)

-

4.16B

Medium

07:00

CHF

Exports Real (MoM) (NOV)

-

5.4%

Low

07:00

CHF

Imports Real (MoM) (NOV)

-

3.5%

Low

07:00

EUR

German Import Price Index (MoM) (NOV)

-0.2%

-0.3%

Medium

07:00

EUR

German Import Price Index (YoY) (NOV)

-3.7%

-4.1%

Medium

07:00

EUR

German GfK Consumer Confidence (JAN)

9.3

9.3

Low

09:30

GBP

Public Finances (PSNCR) (NOV)

-

-4.0B

Low

09:30

GBP

Central Government NCR (NOV)

-

-0.1B

Low

09:30

GBP

Public Sector Net Borrowing (NOV)

11.1B

7.5B

Low

09:30

GBP

PSNB ex Banking Groups (NOV)

11.8B

8.2B

Low

Critical Levels

CCY

Supp 3

Supp 2

Supp 1

Pivot Point

Res 1

Res 2

Res 3

EUR/USD

1.0719

1.0810

1.0862

1.0901

1.0953

1.0992

1.1083

GBP/USD

1.4794

1.4846

1.4865

1.4898

1.4917

1.4950

1.5002

--- 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