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
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
Mixed
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.27%, while traders in NZD/USD are at opposite extremes with 66.87%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/peklh4PMnX
  • 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/lAFyv1gM0P https://t.co/fXShtfgera
  • Forex Update: As of 12:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: -0.07% 🇪🇺EUR: -0.14% 🇨🇭CHF: -0.17% 🇨🇦CAD: -0.25% 🇳🇿NZD: -0.76% 🇦🇺AUD: -0.80% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/qpVEMWkF9W
  • Fed Vice Chair Clarida says he wants inflation to spend some above 2%, adds that he is not going to think about raising rates until actual inflation is 2%
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here:https://t.co/1oygcFMFNs https://t.co/9VjJlOHuz8
  • China's cabinet says will step up punishment for irregularities such as market manipulation and insider trader
  • 🇺🇸 MBA Mortgage Applications (18/SEP) Actual: 6.8% Previous: -2.5% https://www.dailyfx.com/economic-calendar#2020-09-23
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.27%, while traders in NZD/USD are at opposite extremes with 65.57%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/Ti993zOjDP
  • Heads Up:🇺🇸 MBA Mortgage Applications (18/SEP) due at 11:00 GMT (15min) Previous: -2.5% https://www.dailyfx.com/economic-calendar#2020-09-23
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.27% Gold: -0.38% Silver: -3.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/Rnz2GL38IZ
US Dollar on the Upswing as Markets Eye Fed Meeting Minutes

US Dollar on the Upswing as Markets Eye Fed Meeting Minutes

2016-08-17 06:39:00
Ilya Spivak, Head Strategist, APAC
Share:

Talking Points:

  • US Dollar gains on pre-position for hawkish FOMC meeting minutes
  • Yen drops as Asian stocks rise, Aussie and NZ Dollars under pressure
  • British Pound may not see lasting response to UK jobless claims data

The US Dollar outperformed in overnight trade as the markets’ attention turned to the upcoming release of minutes from July’s Federal Reserve monetary policy meeting. The currency rose alongside benchmark 10-year Treasury bond yields, suggesting investors may have been positioning for a hawkish posture.

Yesterday’s comments from Bill Dudley may have set the tone for pre-positioning. The New York Fed President said that the market is “complacent” about the need to hike rates and “under-pricing” the scope of on-coming tightening.

The central bank asserted that “near-term risks to the economic outlook have diminished” following the sit-down. Traders will be keen to see more about what lurks behind this assessment to gauge whether priced-in rate hike probabilities are indeed too low, as Mr Dudley argued.

The Japanese Yen slumped as Asian stocks pushed upward, sapping demand for the anti-risk currency. The Australian and New Zealand Dollars turned lower. A discrete catalyst was not readily apparent but the prospect of a more hawkish Fed may have applied outsized pressure on yield-sensitive high beta FX.

UK jobless claims headline the economic data docket in European hours, with a 9k increase expected. On balance, the release may have little lasting impact on the British Pound considering its limited implications for near-term BOE policy, with officials likely in wait-and-see mode having just expanded stimulus.

Has the US Dollar matched DailyFX analysts’ forecasts for 2Q? Find out here!

Asia Session

GMT

CCY

EVENT

ACT

EXP

PREV

22:45

NZD

PPI Input (QoQ) (2Q)

0.9%

-

-1.0%

22:45

NZD

PPI Output (QoQ) (2Q)

0.2%

-

-0.2%

22:45

NZD

Unemployment Rate (2Q)

5.1%

5.3%

5.2%

22:45

NZD

Employment Change (QoQ) (2Q)

2.4%

0.6%

1.3%

22:45

NZD

Employment Change YoY (2Q)

4.5%

2.3%

2.0%

22:45

NZD

Participation Rate (2Q)

69.7%

68.8%

69.0%

00:30

AUD

Westpac Leading Index (MoM) (JUL)

0.05%

-

-0.22%

01:30

AUD

Wage Price Index (QoQ) (2Q)

0.5%

0.5%

0.5%

01:30

AUD

Wage Price Index (YoY) (2Q)

2.1

2.0%

2.1%

European Session

GMT

CCY

EVENT

EXP

PREV

IMPACT

08:30

GBP

Claimant Count Rate (JUL)

2.2%

2.2%

Medium

08:30

GBP

Jobless Claims Change (JUL)

9.0k

0.4k

Medium

08:30

GBP

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

2.4%

2.3%

Low

08:30

GBP

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

2.3%

2.2%

Low

08:30

GBP

ILO Unemployment Rate (3Mths) (JUN)

4.9%

4.9%

Medium

08:30

GBP

Employment Change (3M/3M) (JUN)

150k

176k

Low

09:00

CHF

Credit Suisse ZEW Survey (Expectations) (AUG)

-

5.9

Low

Critical Levels

CCY

Supp 3

Supp 2

Supp 1

Pivot Point

Res 1

Res 2

Res 3

EUR/USD

1.0970

1.1115

1.1197

1.1260

1.1342

1.1405

1.1550

GBP/USD

1.2646

1.2819

1.2932

1.2992

1.3105

1.3165

1.3338

--- 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