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
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
Mixed
Gold
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
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • The US Dollar could gain as it forms bullish technical formations against the Singapore Dollar and Malaysian Ringgit. USD/PHP may have bottomed, will USD/IDR rise next? Find out from @ddubrovskyFX here:https://t.co/3UIKmbLIvD https://t.co/PY2YyH4vkQ
  • The Indian Rupee may be at risk to the US Dollar as USD/INR attempts to refocus to the upside. This is as the Nifty 50, India’s benchmark stock index, could fall further. Get your $USDINR market update from @ddubrovskyFX here:https://t.co/3wsYlSxd26 https://t.co/z2qB9p8IgX
  • A proxy of #EmergingMarket capital flows hit its lowest since July, falling with the #SP500 after some divergence This is as #USD gained against its developing FX counterparts, highlighting potential risk of a spillover outwards Stay tuned for next week's #ASEAN fundy outlook! https://t.co/kAvpnb0EXO
  • 4 consecutive down weeks for the #SP500, last matched over a year ago #Fed balance sheet continues to gain very cautiously, now at its highest since the middle of June. Still, at slower pace than last week Focus shifts to US fiscal stimulus next week in the House of Reps https://t.co/f8zpSILm86
  • #Gold prices have broken lower and while the broader technical structure is constructive, the risk remains for a deeper correction before resumption. Get your $XAUUSD technical analysis from @MBForex here: https://t.co/7p3jPx6nQd https://t.co/nnCSdt6OV5
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.00% 🇳🇿NZD: -0.02% 🇯🇵JPY: -0.15% 🇨🇭CHF: -0.23% 🇦🇺AUD: -0.25% 🇪🇺EUR: -0.33% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/O8Qb7OHZza
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.30% Gold: -0.33% Silver: -0.92% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/lEALo4Z1M9
  • The S&P 500 breakdown is testing the first major zone of support and we’re looking for a reaction. Get your S&P500 technical analysis from @MBForex here:https://t.co/JrTNmQ5c7g https://t.co/D79T1134P9
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.29%, while traders in EUR/GBP are at opposite extremes with 65.04%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/lzTHuIgzFQ
  • US Equities Update (Friday Close): $DJI +1.34% $SPX +1.60% $NDX +2.34% $RUT +1.59% $VIX -7.93%
US Dollar Retreats as Post-FOMC Correction Continues

US Dollar Retreats as Post-FOMC Correction Continues

2015-12-24 07:38:00
Ilya Spivak, Head Strategist, APAC
Share:

Talking Points:

  • US Dollar Drops Alongside US Treasury Yields Amid Post-FOMC Correction
  • Thin Liquidity Conditions Create Knee-Jerk Volatility Risk in Holiday Trade
  • Markets Unlikely to Find Direction in US Jobless Claims, Japan CPI Releases

The US Dollar resumed its post-FOMC downward correction in overnight trade after brief respite in yesterday’s session, falling to the lowest level in a week against an average of its top counterparts. The move played out alongside a drop in front-end US Treasury yields, hinting profit-taking on the “Fed tightening” theme into the year-end is the likely catalyst driving price action.

Looking ahead, the Christmas holiday will see most top financial markets shuddered through next week. Indeed, trading volumes for FX futures contracts tracking the major currencies have been dropping since mid-month, hinting at larger market-wide dynamics. This is likely to make for near-standstill in the final 48 hours of the trading week.

It ought to be noted however that the drop in participation may amplify knee-jerk volatility in the event that unexpected headline risk catches markets unprepared. In fact, last week’s BOJ rate decision was a case in point. With that in mind, traders would be wise to tread carefully despite apparent calm.

A handful of economic data releases will cross the wires into the week-end, with weekly US jobless claims figures as well as Japan’s labor market and inflation reports are on tap. Both ought to pass with little fanfare. Claims numbers are unlikely to single-handedly change anything about investors’ Fed policy outlook. Meanwhile, the BOJ’s reluctance to actually expand stimulus despite this month’s tinkering with the policy mix undermines CPI figures’ market-moving potential.

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

Asia Session

GMT

CCY

EVENT

ACT

EXP

PREV

23:00

AUD

Conf. Board Leading Index (MoM) (OCT)

-0.1%

-

-0.3%

23:50

JPY

BOJ Minutes for November Meeting

-

-

-

04:00

JPY

BOJ’s Kuroda Speaks in Tokyo

-

-

-

European Session

GMT

CCY

EVENT

EXP

PREV

IMPACT

09:30

GBP

BBA Loans for House Purchase (NOV)

46000

45437

Low

Critical Levels

CCY

Supp 3

Supp 2

Supp 1

Pivot Point

Res 1

Res 2

Res 3

EUR/USD

1.0739

1.0826

1.0869

1.0913

1.0956

1.1000

1.1087

GBP/USD

1.4702

1.4783

1.4827

1.4864

1.4908

1.4945

1.5026

--- 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