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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
Real Time News
  • The Nasdaq 100 gains modestly after Monday's sharp losses, but sentiment remains cautious ahead of the FOMC rate decision. Get your market update from @Tams707 here:
  • Ethereum continues its sharp slide, currently down more than 4.7% on the day $ETHUSD #Ethereum
  • Rising energy prices weigh on European policymakers as consumers fear higher prices, carbon dioxide shortages (CO2), and cold winter. Get your market update from @Tams707 here:
  • US President Biden: - Will discuss a trade deal with UK PM Boris Johnson - I do not want to see a closure of Irish borders
  • AUD/USD continues to trend lower ahead of tomorrow's FOMC meeting. Further $USD strength could bring the August low into play $AUDUSD
  • Nasdaq Ekes Out Small Gain As Focus Turns to FOMC, Uber Flies On Bullish Guidance $NDX $UBER #trading #FED
  • Fedex Q1 Results: Revenues: $22.0B vs. $21.8B est. EPS $4.37 vs. $4.92 est. $FDX down roughly 2.25% AH
  • In this week's Macro Setup @CVecchioFX, discusses with @RiskReversal and @GuyAdami, news regarding property developer Evergrande weighing down US financial markets, and September's Fed meeting impact on assets. Tune into the markets now!
  • Copper demand continues to outstrip supply, according to the recent update from the International Copper Study Group. Get your $XAG market update from @CVecchioFX here:
  • China to be carbon-neutral by 2060; country will stop building coal-powered projects abroad - BBG
US Dollar Finds Haven Bid, Politics Sink Pound and NZ Dollar

US Dollar Finds Haven Bid, Politics Sink Pound and NZ Dollar

Ilya Spivak, Head Strategist, APAC

Talking Points:

  • US Dollar reclaims haven bid as most AsiaPac stocks follow Wall St lower
  • British Pound down as Tory MPs mount challenge to UK PM Theresa May
  • NZ Dollar under pressure as Greens and Labour clash on TPP ratification

The US Dollar returned to the offensive in Asia Pacific trade, rising alongside 10-year Treasury bonds while most regional stock exchanges slumped. The MSCI Asia Pacific equities benchmark shed 0.4 percent in a move that seemed to echo Friday’s drop on Wall Street. That move reportedly reflecting ebbing confidence in US lawmakers’ ability to deliver on corporate tax cut legislation.

Seeing the greenback playing a safe haven role is somewhat unusual in recent months, especially in response to fading fiscal stimulus hopes. Indeed, an underwhelming Senate tax reform proposal was a major headwind last week. It will be curious to see if this dynamic continues to hold now that a Fed rate hike is all but completely priced in for December’s policy meeting.

The British Pound traded broadly lower as markets reacted to news of a brewing revolt within the ruling UK Conservative party. As many as 40 members of Parliament reportedly signed a letter saying they have lost confidence in Prime Minister Theresa May. That is nearly enough to trigger a leadership challenge, complicating already sluggish Brexit negotiations.

The New Zealand Dollar also faced selling pressure. Here too, politics seemed to be culprit after reports that the Green Party will not support ruling Labour in voting to ratify a revised Trans-Pacific Partnership (TPP) trade agreement. That will force Prime Minister Jacinda Ardern to seek the support of the opposition National party, exposing potentially lasting fissures within the newly-minted governing coalition.

Looking ahead, a quiet economic calendar in European and North American trading hours leaves sentiment trends at the forefront. S&P 500 index futures are pointing cautiously higher, hinting that a bit of recovery in risk appetite might be ahead. Overnight moves imply that might bode ill for USD, although it is arguably premature to conclude that it is trading as a pure “risk-off” asset at this point.

What is the #1 mistake that traders make, and how can you fix it? Find out here!

Asia Session

US Dollar Finds Haven Bid, Politics Sink Pound and NZ Dollar

European Session

US Dollar Finds Haven Bid, Politics Sink Pound and NZ Dollar

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

--- Written by Ilya Spivak, Currency Strategist for

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.