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. See our updated Privacy Policy here.

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
More View more
US Dollar Eyes Quarles Hearing, Durables Data After FOMC-Led Drop

US Dollar Eyes Quarles Hearing, Durables Data After FOMC-Led Drop

Ilya Spivak, Head Strategist, APAC

Talking Points:

  • US Dollar down as Aussie, Kiwi gain as Asia digests FOMC outcome
  • Quarles confirmation hearing, US durables data in the spotlight ahead
  • What will drive long-term G10 FX trends? See our forecasts to find out

The US Dollar underperformed in Asian trade as regional investors took their turn to respond to what has been an FOMC policy announcement that the markets have interpreted as dovish. The Australian and New Zealand Dollars duly rose, reveling in support from yield-seeking capital flows as US Treasury yields edged down alongside the greenback.

From here, a quiet European data docket is likely to see traders looking to the US durable goods orders numbers for direction cues. An increase of 3.7 percent is expected, the largest in eight months. US economic news-flow has increasingly improved relative to baseline forecasts recently, opening the door for an even rosier result. This seems unlikely alter Fed policy bets as second-quarter GDP figures near however.

A confirmation hearing for Randal Quarles, the Trump administration’s nominee to the Fed’s financial supervision post, may also generate volatility. Mr Quarles’ is generally known to favor a light regulatory touch and comments confirming as much may pass without fireworks. His views on monetary policy might generate a response however since he would have a vote on the FOMC if confirmed.

What do retail traders’ buy/sell decisions say about FX market trends? Find out here!

Asia Session

US Dollar Eyes Quarles Hearing, Durables Data After FOMC-Led Drop

European Session

US Dollar Eyes Quarles Hearing, Durables Data After FOMC-Led Drop

** All times listed in GMT. See the full DailyFX economic calendar here.

--- 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