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
  • Ambiguity abounds. The US open finds the $SPX loitering above its 100-day moving average as well as its technical 'correction' (-10% from highs) and below the neckline of its H&S break https://t.co/MlsRVbzkBi
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Gold: -0.70% Oil - US Crude: -1.32% Silver: -1.67% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/4xYTddorjQ
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.28%, while traders in EUR/GBP are at opposite extremes with 64.12%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/7OJ5FXh4rF
  • another nasty week in Cable $GBPUSD but most of that sell-off was Monday and Tuesday, after which support came into play. 2712 has now helped to hold the lows for three (going on four) days - even as $USD rally has continued https://t.co/kKURzmx61S https://t.co/eHZZ9rZC9X
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Gold: -0.32% Silver: -0.93% Oil - US Crude: -1.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/fdLE2SYbFA
  • While risks may be starting to skew to the upside in Brexit negotiations, GBP/USD continues to trade in choppy fashion, with pullbacks finding support at 1.2720-30. Get your $GBPUSD market update from @JMcQueenFX here:https://t.co/TOrUJKapR1 https://t.co/txDbUikOFZ
  • Indices Update: As of 13:00, these are your best and worst performers based on the London trading schedule: FTSE 100: -0.21% US 500: -0.30% Wall Street: -0.50% France 40: -1.37% Germany 30: -1.72% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/eOrhf8Ozhy
  • Heads Up:🇺🇸 Fed Williams Speech due at 13:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-09-25
  • 🇺🇸 Durable Goods Orders Ex Transp MoM (AUG) Actual: 0.4% Expected: 1.2% Previous: 2.4% https://www.dailyfx.com/economic-calendar#2020-09-25
  • 🇺🇸 Durable Goods Orders MoM (AUG) Actual: 0.4% Expected: 1.5% Previous: 11.2% https://www.dailyfx.com/economic-calendar#2020-09-25
US Dollar May Rise as Brainard Feeds Fed Rate Hike Speculation

US Dollar May Rise as Brainard Feeds Fed Rate Hike Speculation

2016-09-12 05:23:00
Ilya Spivak, Head Strategist, APAC
Share:

Talking Points:

  • Yen gains, commodity FX pressured amid risk aversion in Asian trade
  • Risk-off mood seems to be fueled by swelling Fed rate hike speculation
  • US Dollar may rise if Fed’s Brainard echoes colleagues’ hawkish tone

The Japanese Yen outperformed as Asian stocks followed Wall Street lower at the start of the trading week, boosting demand for the anti-risk currency. The sentiment-sensitive Australian, Canadian and New Zealand Dollars faced selling pressure, although the magnitude of overnight moves was relatively restrained.

The risk-off mood seems to reflect firming Fed rate hike bets as a steady stream of hawkish comments from central bank officials paints an increasing sense of consensus on the rate-setting FOMC committee. The spotlight now turns to a hastily-scheduled speech from Governor Lael Brainard, arguably the most dovish of the current crop of voting policymakers.

Brainard will offer the last bit of commentary ahead of the week-long blackout period when Fed officials stay mum ahead an FOMC policy announcement. This offers her an opportunity to set the tone for speculation in the near term. If she echoes the tone adopted by her colleagues in recent weeks, an up-shift in the projected rate hike path is may boost the US Dollar and undermine sentiment trends further.

Losing money trading in the FX market? This may be why.

Asia Session

GMT

CCY

EVENT

ACT

EXP

PREV

23:50

JPY

Machine Orders (MoM) (JUL)

4.9%

-2.9%

8.3%

23:50

JPY

Machine Orders (YoY) (JUL)

5.2%

0.3%

-0.9%

23:50

JPY

PPI (MoM) (AUG)

-0.3%

-0.1%

0.0%

23:50

JPY

PPI (YoY) (AUG)

-3.6%

-3.4%

-3.9%

1:30

AUD

Credit Card Purchases (JUL)

A$23.6b

-

A$25.5b

1:30

AUD

Credit Card Balances (JUL)

A$51.3b

-

A$52.2b

6:00

JPY

Machine Tool Orders (YoY) (AUG P)

-

-19.7%

European Session

GMT

CCY

EVENT

EXP/ACT

PREV

IMPACT

8:00

EUR

Italy Unemployment Rate Quarterly (2Q)

11.5%

11.6%

Low

8:00

CHF

Total Sight Deposits

-

515.8b

Low

8:00

CHF

Domestic Sight Deposits

-

438.7b

Low

Critical Levels

CCY

Supp 3

Supp 2

Supp 1

Pivot Point

Res 1

Res 2

Res 3

EUR/USD

1.1067

1.1153

1.1193

1.1239

1.1279

1.1325

1.1411

GBP/USD

1.3089

1.3185

1.3226

1.3281

1.3322

1.3377

1.3473

--- 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