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 US Dollar might be stabilizing against ASEAN currencies as inflationary woes resurface ahead of GDP and PCE data. Amazon, Apple and Facebook earnings may also drive sentiment ahead. Get your market update from @ddubrovskyFX here:
  • 🇨🇳 Industrial Profits (YTD) YoY (SEP) Actual: 44.7% Previous: 49.5%
  • Heads Up:🇨🇳 Industrial Profits (YTD) YoY (SEP) due at 01:30 GMT (15min) Previous: 49.5%
  • The Australian Dollar has had a period of strengthening against most currencies but there might be some challenges ahead. Will the Australia Dollar go higher? Find out here:
  • Australian Dollar up in morning Wed trade after CPI data #RBA preferred trimmed mean reading surprised much higher at 2.1% y/y vs 1.8% anticipated (underlying pressures) Front-end bond yields also up, reflecting fading dovish policy bets $AUDUSD #AUD
  • 🇦🇺 Inflation Rate QoQ (Q3) Actual: 0.8% Expected: 0.8% Previous: 0.8%
  • 🇦🇺 Inflation Rate YoY (Q3) Actual: 3% Expected: 3.1% Previous: 3.8%
  • Heads Up:🇦🇺 Inflation Rate QoQ (Q3) due at 00:30 GMT (15min) Expected: 0.8% Previous: 0.8%
  • Heads Up:🇦🇺 Inflation Rate YoY (Q3) due at 00:30 GMT (15min) Expected: 3.1% Previous: 3.8%
  • 🇳🇿 ANZ Business Confidence Final (OCT) Actual: -13.4 Previous: -7.2
US Dollar Selling May Pause But the Respite is Unlikely to Last

US Dollar Selling May Pause But the Respite is Unlikely to Last

Ilya Spivak, Head Strategist, APAC

Talking Points:

  • Sluggish currency markets look past speech from RBA Governor Lowe
  • UofM consumer confidence gauge may not do much for the US Dollar
  • Profit-taking may translate into brief corrections of recent price moves

Currency markets drifted sideways in Asia Pacific trade. RBA Governor Philip Lowe testified in Parliament, but his remarks went seemingly unnoticed by markets busy digesting earlier volatility. Mr Lowe said that the next move in interest rates is likely to be up but added that he doesn’t see a strong case for a near-term policy adjustment. Commenting on the Australian Dollar, he called the current exchange rate “manageable”.

Looking ahead, a lackluster offering on the European data docket is likely to see markets looking ahead to the release of the University of Michigan’s US consumer confidence gauge. A downtick is expected, marking the fourth consecutive month of deterioration. Anything short of a dramatic upside surprise seems unlikely to offer a lifeline for the US Dollar however.

The greenback’s recovery launched in early February was built on the premise that the on-coming Fed rate hike cycle may be far steeper than investors had accounted for. This was inspired by an unexpected jump in wage inflation, which hit a nine-year high in January. When headline CPI data fell short of delivering a similar result, markets swiftly return to previously dominant and firmly anti-USD trends.

With little of substance to derail momentum, the markets may opt for a bit of corrective profit-taking ahead of the weekend. That might see the US currency stabilize a bit while its G10 FX counterparts take a brief step backward. This is unlikely to be much more than a brief reprieve however, at least until minutes from January’s FOMC meeting are released next week.

Just getting started in the markets? Check out our beginners’ guide for FX traders!

Asia Pacific Trading Session

US Dollar Selling May Pause But the Respite is Unlikely to Last

European Trading Session

US Dollar Selling May Pause But the Respite is Unlikely to Last

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

--- Written by Ilya Spivak, Currency Strategist for

To contact Ilya, use the comments section below or @IlyaSpivakonTwitter

To receive Ilya's analysis directly via email, please SIGN UP HERE

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.