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.

Free Trading Guides
EUR/USD
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
Oil - US Crude
Bearish
Wall Street
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
Gold
Bullish
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
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
More View more
Real Time News
  • Update on #Cryptocurrencies #BITCOIN -0.91% #BITCOINCASH +1.48% #ETHEREUM -1.58% #RIPPLE -1.35% #LITECOIN -2.48%
  • $AUDUSD pushes further into multi-month highs this morning as risk appetite improves https://t.co/jCjpOT2kbP
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.98%, while traders in US 500 are at opposite extremes with 73.36%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/ZZhiVDU0Ey
  • The #Euro Stoxx 50 has made a firm break away from its 50% fib retracement to trade at its highest level since early March. Get your equities market update from @JMcQueenFX here:https://t.co/TeIdfHjbUj https://t.co/IPSBuPQ3YF
  • New York Virus cases rise 0.4% compared to 7-day average of 0.3% - BBG
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 2.91% Gold: -0.86% Silver: -2.61% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/slar5zMmAp
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 1.19% 🇳🇿NZD: 0.91% 🇨🇦CAD: 0.47% 🇪🇺EUR: 0.35% 🇨🇭CHF: -0.08% 🇯🇵JPY: -0.94% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/212TNo9F85
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.45% France 40: 0.14% US 500: 0.11% Germany 30: 0.11% FTSE 100: -0.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/hJWuqYgXB7
  • Hey traders! Why is US indices a good benchmark? Find out from @DailyFX Chief Strategist, @JohnKicklighter 👇 as he covers the US market highlights today! https://t.co/cRetV7qC8m
  • US Treasury Yields: 2-Year: 0.158% 3-Year: 0.199% 5-Year: 0.308% 7-Year: 0.507% 10-Year: 0.669% 30-Year: 1.470% $TNX
US Dollar Looks to Fed for Help After Underwhelming SOTU Speech

US Dollar Looks to Fed for Help After Underwhelming SOTU Speech

2018-01-31 06:32:00
Ilya Spivak, Head Strategist, APAC
Share:

Talking Points:

  • US Dollar down after Trump’s SOTU speech, FOMC may offer a lifeline
  • Aussie Dollar down on CPI miss, NZ Dollar higher as US yields decline
  • Eurozone inflation drop might not translate into lasting Euro weakness

The US Dollar slumped in disappointment following President Donald Trump’s first State of the Union address. The speech offered nothing particularly novel, dashing speculation that the President would unveil specifics about the next stage of an aggressively expansionary fiscal program, ushering in an inflationary surge that forces the Fed into a steeper rate hike cycle.

Ebbing Fed tightening speculation translated into gains for currencies competing for yield appeal with the greenback. Not surprisingly, that led the New Zealand Dollar upward, with the currency tellingly rising inversely of a drop in US Treasury bond yields. The Australian Dollar failed to capitalize however having been humbled by CPI data that fell short of consensus forecasts.

Eurozone CPI data headlines the data docket in European trading hours. The headline year-on-year inflation rate is expected to tick down to 1.2 percent in January, the lowest in over a year. A soft result on analogous German price growth data yesterday produced a brief Euro downswing but failed to find follow-through. Absent a wild deviation from forecasts, more of the same is probably in store.

The spotlight then turns to the FOMC rate decision, which may be a non-event this time. Officials might be less concerned with shaping policy guidance than managing a smooth transition from Janet Yellen – for whom this will be the last outing as Chair – to incoming Jerome Powell. Still, a recent upshift in market measures of inflation expectations might bring a slightly hawkish tone, offering a lifeline to the greenback.

Check out our free guide to see DailyFX analysts’ top trading ideas for 2018!

Asia Session

US Dollar Looks to Fed for Help After Underwhelming SOTU Speech

European Session

US Dollar Looks to Fed for Help After Underwhelming SOTU Speech

** 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

News & Analysis at your fingertips.