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
Mixed
Oil - US Crude
Mixed
Wall Street
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
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.66% 🇳🇿NZD: 0.64% 🇯🇵JPY: 0.63% 🇪🇺EUR: 0.43% 🇬🇧GBP: 0.41% 🇨🇦CAD: 0.20% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/ilKB2jHFj3
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.23% France 40: 0.21% US 500: -0.20% Germany 30: -0.23% Wall Street: -0.23% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/3c12GSzzZ3
  • Is the Eurozone entering into a second debt crisis? Find out here: https://t.co/xHEhzcyXMb https://t.co/gJ0VfoEFWE
  • EUR/USD resistance at 1.2000 well and truly broken..currently @ 1.2030 on USD-weakness #eurusd #usd #euro @DailyFX https://t.co/B4hqLj50fM
  • Take a closer look visually at the most influential global importers and exporters here: https://t.co/G58J1cYv9t https://t.co/7PN8pYKhXH
  • US Dollar Basket (DXY) taking a tumble... https://t.co/t6kiwXWCX4
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.55%, while traders in Germany 30 are at opposite extremes with 80.61%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/aC5CZqRzxd
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Gold: 0.20% Silver: -0.31% Oil - US Crude: -0.34% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/7rkjdGff4Y
  • Euro May Turn Lower vs. US Dollar as Upswing Falters Below 1.20 - https://www.dailyfx.com/forex/technical/home/analysis/eur-usd/2021/04/19/Euro-May-Turn-Lower-vs-US-Dollar-as-Upswing-Falters-Below-1.20.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #EURUSD #technicalanalysis https://t.co/30VPCDfO1B
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.28% 🇦🇺AUD: 0.11% 🇳🇿NZD: 0.08% 🇨🇦CAD: 0.03% 🇨🇭CHF: 0.03% 🇪🇺EUR: 0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/LQnZcITyT6
US Dollar Rebound May Be Cut Short By Soft ISM Result

US Dollar Rebound May Be Cut Short By Soft ISM Result

Ilya Spivak, Head Strategist, APAC

Talking Points:

  • Australian Dollar sinks on disappointing economic data, political jitters
  • Japanese Yen down as Asia Pacific stocks bounce after 3 days of losses
  • US Dollar attempting recovery but soft ISM result might cool momentum

The Australian Dollar underperformed in overnight trade, falling against all of its major counterparts. The selloff began with deeply disappointing building permits data, then followed further fuel in RBA statistics showing the price of Australia’s exports on global markets fell for a third consecutive month in January.

Political jitters may have helped as well as yet another Member of Parliament resigned after admitting that he was unable to confirm that he’d renounced his British citizenship. A rule forbidding Australian MPs from being citizens of any other country hit the spotlight last year, culling the ranks of unsuspecting lawmakers.

Perhaps most critically, the currency fell alongside local front-end bond yields. That signaled that the RBA monetary policy outlook had deteriorated, regardless of which bit of news flow was the decisive catalyst. The priced-in timing of the next rate hike has been pushed back to August to November.

The Japanese Yen also fell as regional share prices rebounded after three days of losses, putting pressure on the perennially anti-risk currency. The MSCI Asia Pacific regional benchmark equity index added 0.7 percent. Japan’s own Nikkei 225 added nearly 2 percent after the largest six-day drop since November 2016.

The US Dollar turned higher. The benchmark currency fell in the wake of Donald Trump’s first State of the Union address but subsequently erased most of the drop after the rate-setting FOMC committee issued a policy statement that was a bit more upbeat on reflation prospects, implying a cautiously hawkish bias.

It appears as though Asia Pacific markets assigned more significance to the rhetorical shift than their North American counterparts. Indeed, the greenback tellingly advanced alongside front-end Treasury bond yields, implying a supportive pivot in investors’ baseline Fed policy outlook.

Looking ahead, a quiet day on European data front is likely to put US releases in focus. The manufacturing ISM survey is on tap, with expectations pointing to a slowdown in the pace of factory-sector growth. A soft result echoing recent disappointments in US statistics may cap the nascent USD recovery.

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

Asia Session

US Dollar Rebound May Be Cut Short By Soft ISM Result

European Session

US Dollar Rebound May Be Cut Short By Soft ISM Result

** 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