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
Oil - US Crude
Bullish
Wall Street
Mixed
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
Mixed
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 93.75%, while traders in France 40 are at opposite extremes with 77.98%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/mXHYu1zN9M
  • Commodities Update: As of 17:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.59% Gold: -1.39% Silver: -3.23% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/xchHegk5kh
  • $BTCUSD technical resistance in action. . . #Bitcoin https://t.co/sC21sU5jiX https://t.co/KQdwWtMUNr
  • Forex Update: As of 17:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.34% 🇦🇺AUD: 0.33% 🇳🇿NZD: 0.28% 🇨🇦CAD: 0.21% 🇯🇵JPY: 0.20% 🇬🇧GBP: -0.42% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/6VlOG5bYhZ
  • Sterling has been moving gradually higher against a weak US dollar over the last two months and has now run into topside resistance around the 1.3400 level. Get your $GBPUSD market update from @nickcawley1 here:https://t.co/s7xdXDLzK7 https://t.co/PhpoYK0Cj4
  • Indices Update: As of 17:00, these are your best and worst performers based on the London trading schedule: US 500: 0.42% FTSE 100: 0.42% Wall Street: 0.22% Germany 30: -0.23% France 40: -0.27% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/Zd5U9SNtav
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here: https://t.co/5uSWKoLkd6 https://t.co/9EBtFSNgZS
  • $EURUSD hitting session highs at 1.1955. Cross-buying in EURGBP also helping the move - Aug high (1.1965) - YTD high 1.2011
  • #Gold Price Forecast: Gold in Free-fall – $XAUUSD Breakdown Levels - https://t.co/2Xc9f8VQyc https://t.co/khZVH4YVRl
  • OPEC+ is leaning towards extending oil production cuts for 2-3 months #oott
US Dollar May Rise as Fed-Speak Fuels Rate Hike Speculation

US Dollar May Rise as Fed-Speak Fuels Rate Hike Speculation

2016-09-09 06:53:00
Ilya Spivak, Head Strategist, APAC
Share:

Talking Points:

  • US Dollar may advance as Fed-speak stokes rate hike speculation
  • Pound gains after Hammond argues for City of London status quo
  • Yen correcting higher after yesterday’s broad-based down move

A relatively uneventful European data docket shifts the spotlight to comments from Boston and Dallas Fed Presidents Eric Rosengren and Robert Kaplan in the final hour of the trading week. Traders are almost certainly eager to onboard the last bits of guidance before the two-week blackout period ahead of this month’s FOMC meeting. Hawkish posturing in line with recent remarks from other US central bank officials may boost rate hike speculation, sending the US Dollar higher.

The Japanese Yen outperformed in overnight trade, trading broadly higher in a move that appeared to be corrective after the currency lagged its major counterparts in the prior session. The British Pound continued to recover from selling pressure that plagued the UK unit through most of yesterday’s European session. Losses appeared to accelerate in the run-up to testimony from Chancellor Philip Hammond before the House of Lords Economic Affairs Committee.

Concerns about the post-Brexit future of the City of London as regional financial hub seemed to be front and center for investors. Sterling bottomed and began to recover as Hammond spoke, possibly reflecting the government’s apparent commitment to defend the status quo. The Chancellor said the City supports the real economy across Europe and breaking it up – including the splitting up of clearing services – would be a mistake for the EU.

Is picking price direction most important for successful trading? See our study to find out!

Asia Session

GMT

CCY

EVENT

ACT

EXP

PREV

22:45

NZD

Card Spending Retail (MoM) (AUG)

-0.4%

0.3%

0.2%

22:45

NZD

Card Spending Total (MoM) (AUG)

-0.8%

-

0.3%

23:50

JPY

Money Stock M2 (YoY) (AUG)

3.3%

3.3%

3.4%

23:50

JPY

Money Stock M3 (YoY) (AUG)

2.8%

2.9%

2.9%

1:30

CNY

CPI (YoY) (AUG)

1.3%

1.7%

1.8%

1:30

CNY

PPI (YoY) (AUG)

-0.8%

-0.9%

-1.7%

1:30

AUD

Home Loans (MoM) (JUL)

-4.2%

-1.5%

1.7%

1:30

AUD

Investment Lending (JUL)

0.5%

-

3.3%

1:30

AUD

Owner-Occupier Loan Value (MoM) (JUL)

-3.1%

-

1.6%

4:30

JPY

Tertiary Industry Index (MoM) (JUL)

0.4%

0.8%

European Session

GMT

CCY

EVENT

EXP/ACT

PREV

IMPACT

5:45

CHF

Unemployment Rate (AUG)

3.2% (A)

3.1%

Medium

5:45

CHF

Unemployment Rate SA (AUG)

3.4% (A)

3.3%

Medium

6:00

EUR

German Trade Balance (JUL)

19.5b (A)

24.7b

Medium

6:00

EUR

German Current Account Balance (JUL)

18.6b (A)

26.3b

Medium

6:00

EUR

German Exports SA (MoM) (JUL)

-2.6% (A)

0.2%

Low

6:00

EUR

German Imports SA (MoM) (JUL)

-0.7% (A)

1.1%

Low

8:30

GBP

Visible Trade Balance (£/Mn) (JUL)

-11650

-12409

Medium

8:30

GBP

Trade Balance Non EU (£/Mn) (JUL)

-3600

-4159

Low

8:30

GBP

Trade Balance (£/Mn) (JUL)

-4200

-5084

Low

8:30

GBP

Construction Output (MoM) (JUL)

-0.5%

-0.9%

Low

8:30

GBP

Construction Output (YoY) (JUL)

-3.4%

-2.2%

Low

8:30

GBP

BoE/TNS Inflation Next 12 Mths (AUG)

-

2.0%

Low

Critical Levels

CCY

Supp 3

Supp 2

Supp 1

Pivot Point

Res 1

Res 2

Res 3

EUR/USD

1.1162

1.1204

1.1222

1.1246

1.1264

1.1288

1.1330

GBP/USD

1.3123

1.3245

1.3293

1.3367

1.3415

1.3489

1.3611

--- 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