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
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
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
Bearish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • The New Zealand Dollar may continue to outperform the haven-associated US Dollar as price breaks above key long-term resistance. Get your $NZDUSD market update from @DanielGMoss here:https://t.co/D1DxtDkJXd https://t.co/DwkK9F9FCJ
  • #Gold prices declined following bearish technical cues, but a key zone of support was reinforced over the past 48 hours. #XAUUSD volatility risk is elevated ahead of the #USElection - https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2020/10/30/Gold-Technical-Forecast-Election-Raises-Volatility-Risk-But-Support-Holds.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/5hgGEojvIE
  • What is the US Dollar outlook based on retail positioning ahead of the November 3rd presidential election? EUR/USD may fall as AUD/USD rises. Which way could USD/CAD capitulate? Find out from @ddubrovskyFX here:https://t.co/BVoIcR9anM https://t.co/Frmn9y6yKJ
  • US #COVID19 cases hit a record for a second consecutive day -BBG
  • The Indian Rupee may weaken following a breakout higher in USD/INR. Despite rising global stock market volatility, the Nifty 50 has been holding its ground. Could it capitulate lower? Find out from @ddubrovskyFX here:https://t.co/BNJ5uTKz1A https://t.co/VkvmiwWAtz
  • The US Dollar gained, pushing USD/SGD to break higher. However, USD/IDR may be looking at losses ahead. USD/MYR struggled to breach the March trendline. USD/PHP could rise.Get your market update from @ddubrovskyFX here:https://t.co/6W76mWMRrJ https://t.co/ukJG4eqDK0
  • The #DowJones and #SP500 have as of today averaged: -2.16% & 1.43% 3-months and 1-year before #Election2020 respectively What could this mean for the incumbent president/Trump next week? 👇 https://t.co/e4EyLTzRXl
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.14% 🇨🇦CAD: 0.04% 🇦🇺AUD: 0.01% 🇨🇭CHF: -0.18% 🇳🇿NZD: -0.22% 🇪🇺EUR: -0.23% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/XuMcr136y1
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 1.86% Gold: 0.58% Oil - US Crude: 0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/hojorwKSRk
  • USD/ZAR: New support may be established at the 16.1000 zone as the price pushed off this level after uncertainty around US stimulus negotiations. Get your $USDZAR market update from @WVenketas here:https://t.co/AQaNSMuZce https://t.co/Fg8uMAYtiU
US Dollar, Market Sentiment at the Mercy of Fed Chair Powell

US Dollar, Market Sentiment at the Mercy of Fed Chair Powell

2018-05-08 05:00:00
Ilya Spivak, Head Strategist, APAC
Share:

TALKING POINTS – US DOLLAR, POWELL, FED, CANADIAN DOLLAR, OIL, TRUMP

All eyes are on Federal Reserve Chair Jerome Powell as he speaks at a joint SNB/IMF event in Zurich. He will discuss the influence of monetary policy on global financial conditions.That seems all too appropriate at a time when Fed rate hikes are pushing up borrowing costs worldwide.

Requisite niceties aside, Mr Powell will have the chance to confront this reality head-on. If he does so in earnest, it seems difficult to imagine that he will do anything other than respectfully assert the primacy of US economic needs in the Fed’s thinking, implying that tightening will not be easily delayed.

In this scenario, the US Dollar may return to the offensive against its major counterparts. More broadly, recent price action suggests financial markets are far from sanguine about aggressive stimulus withdrawal. The anti-risk Yen and Swiss Franc may thus advance if Mr Powell’s remarks sour sentiment at large.

The Australian Dollar succumbed to disappointing economic data in Asian Pacific trade, dropping after soft retail sales statistics crossed the wires. Seemingly upbeat Chinese trade figures released soon after failed to offer a meaningful lift but at least may have helped check immediate selling pressure.

The Canadian Dollar fell with crude oil prices after President Donald Trump said a decision on continued US participation in a nuclear disarmament deal with Iran will be announced today. With the WTI benchmark already at a four-year high, that may have inspired profit-taking from short-term buyers.

See our quarterly FX market forecasts to learn what will drive prices through mid-year!

ASIA PACIFIC TRADING SESSION

Asia Pacific Trading Session Economic Calendar

EUROPEAN TRADING SESSION

European Trading Session Economic Calendar

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

FX TRADING RESOURCES

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

To contact Ilya, use the comments section below or @IlyaSpivak on Twitter

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.

DISCLOSURES