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
Mixed
Wall Street
Mixed
Gold
Bullish
GBP/USD
Bearish
USD/JPY
Mixed
More View more
Real Time News
  • The New Zealand Dollar looks poised to extend its push higher against its haven-associated counterparts on robust economic data and a less dovish stance from the RBNZ. Get your $NZD market update from @DanielGMoss here:https://t.co/vytr4OR1Jy https://t.co/ZcxEUWIm8O
  • It seems the markets are riding high, but risk is always lurking around the corner. Consider your escape plan before you find yourself in collapsing market. What are the top havens for different conditions in 2020? Find out from @JohnKicklighter here: https://t.co/1oeXWEsJkb https://t.co/x8uyOHLtgE
  • The Swiss Franc may continue higher against the US Dollar as technical pressure favors USD/CHF bears..Get your $USDCHF market update from @FxWestwater here:https://t.co/yqJbbhAWiu https://t.co/CaMR0Vqd1m
  • The US Dollar lost ground to most ASEAN currencies as Emerging Market assets climbed despite US economic woes. USD/INR is eyeing third-quarter Indian GDP at the end of the week. Get your market update from @ddubrovskyFX here:https://t.co/urDN2b5Nwd https://t.co/toSDbVZCSi
  • The global stock market can be categorized into specific groups or ‘stock market sectors’. Organizing the vast number of stocks in this way helps traders to view assets in a more manageable way. Get your stock market sectors basics here: https://t.co/5gbiHmY8yl https://t.co/mQ6ty8Yalv
  • The Euro looks poised to continue gaining ground against haven-associated currencies and may reverse higher against the British Pound in the near term. Get your #Euro market update from @DanielGMoss here:https://t.co/oRIHju7ZzK https://t.co/dIEErVzWEY
  • Gold and silver prices have come under significant pressure recently. However, this correction lower could prove short-lived as price analysis hints at a reversal higher. Get your $XAUUSD market update from @DanielGMoss here:https://t.co/K1qL0fsGwy https://t.co/tRfjlN6X22
  • The S&P 500, Dow Jones and crude oil prices have recently made critical advances to the upside. Is retail positioning supporting the case for further upside momentum?https://t.co/rfA2TsBctB https://t.co/SNoOEVLXvA
  • An improving economic backdrop is bolstering crude oil prices and in turn, the Canadian Dollar. Still, the risk-sensitive Australian Dollar continues to move higher. Get your market update from @FxWestwater here:https://t.co/NJ683bZKpe https://t.co/zt3bYddjZ6
  • Gold Price Forecast: Dovish FOMC Could Underpin Bullion Ahead of NFP - https://www.dailyfx.com/forex/fundamental/forecast/weekly/chf/2020/11/27/Gold-Price-Forecast-Dovish-FOMC-Could-Underpin-Bullion-Ahead-of-NFP.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr #Gold #XAUUSD $GOLD $GLD https://t.co/N9ChZOqSdy
US Dollar May Rise as Fed Sets Stage for December Rate Hike

US Dollar May Rise as Fed Sets Stage for December Rate Hike

2016-11-02 05:02:00
Ilya Spivak, Head Strategist, APAC
Share:

Talking Points:

  • Markets to look past European data docket, focus on Fed policy decision
  • US Dollar to rise if FOMC statement boosts December rate hike chances
  • Yen rises, Aussie falls in risk-off trade as NZ Dollar gains on jobs report

Currency markets are likely to look past a relatively quiet European economic calendar to focus on Federal Reserve rate decision due later in the day. A change in policy looks exceedingly unlikely but traders are keen to dissect the FOMC committee’s statement to see if Chair Yellen and company will demonstrably signal that an interest rate hike is on tap in December.

As it stands, investors price in the probability of a December rate hike at 68 percent. A hawkish policy statement matching the tone of recent Fed rhetoric coupled with steady dissent from pro-hike officials may boost conviction, sending the US Dollar broadly higher.

The anti-risk Japanese Yen outperformed while the sentiment-geared Australian and Canadian Dollars traded lower as risk appetite soured in Asian trade. Regional shares followed a rout on Wall Street, with regional bourses losing more than 1 percent on average. The New Zealand Dollar diverged from its commodity bloc counterparts, finding support in upbeat labor-market data.

See the schedule of upcoming webinars and join us LIVE to follow the financial markets!

Asia Session

GMT

CCY

EVENT

ACT

EXP

PREV

21:45

NZD

Unemployment Rate (3Q)

4.9%

5.1%

5.0%

21:45

NZD

Employment Change (QoQ) (3Q)

1.4%

0.5%

2.4%

21:45

NZD

Employment Change (YoY) (3Q)

6.1%

5.4%

4.5%

21:45

NZD

Participation Rate (3Q)

70.1%

69.7%

69.7%

21:45

NZD

Pvt Wages Ex Overtime (QoQ) (3Q)

0.4%

0.4%

0.4%

21:45

NZD

Pvt Wages Inc Overtime (QoQ) (3Q)

0.4%

0.4%

0.4%

21:45

NZD

Average Hourly Earnings (QoQ) (3Q)

0.3%

1.0%

0.8%

23:50

JPY

Monetary Base (YoY) (OCT)

22.1%

-

22.7%

23:50

JPY

Monetary Base End of period (OCT)

¥417.6t

-

¥412.8t

0:01

GBP

BRC Shop Price Index (YoY) (OCT)

-1.7%

-

-1.8%

0:30

AUD

Building Approvals (MoM) (SEP)

-8.7%

-3.0%

-1.8%

0:30

AUD

Building Approvals (YoY) (SEP)

-6.4%

2.1%

10.3%

2:00

NZD

2Yr Inflation Expectation (4Q)

1.68%

-

1.65%

5:00

JPY

Consumer Confidence Index (OCT)

42.3

42.6

43.0

European Session

GMT

CCY

EVENT

EXP

PREV

IMPACT

7:00

GBP

Nationwide House Px (YoY) (OCT)

4.9%

5.3%

Medium

7:00

GBP

Nationwide House Px (MoM) (OCT)

0.2%

0.3%

Medium

7:00

CHF

UBS Real Estate Bubble Index (3Q)

-

1.32

Low

8:45

EUR

Markit/ADACI Italy Mfg PMI (OCT)

51.4

51.0

Low

8:50

EUR

Markit France Mfg PMI (OCT F)

51.3

51.3

Low

8:55

EUR

Germany Unemployment Change (000's) (OCT)

-1k

1k

Medium

8:55

EUR

Germany Unemployment Claims Rate SA (OCT)

6.1%

6.1%

Medium

8:55

EUR

Markit/BME Germany Mfg PMI (OCT F)

55.1

55.1

Medium

9:00

EUR

Markit Eurozone Mfg PMI (OCT F)

53.3

53.3

Medium

9:30

GBP

Markit/CIPS UK Construction PMI (OCT)

51.8

52.3

Low

Critical Levels

CCY

Supp 3

Supp 2

Supp 1

Pivot Point

Res 1

Res 2

Res 3

EUR/USD

1.0810

1.0919

1.0987

1.1028

1.1096

1.1137

1.1246

GBP/USD

1.2095

1.2169

1.2206

1.2243

1.2280

1.2317

1.2391

--- 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