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.

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
More View more
Real Time News
  • Further your stock trading knowledge and gain informed market analyses from our expert analysts @HathornSabin and @JMcQueenFX on Indexes with our free Q4 guide, available today.https://t.co/YQG1aaIT8C #Dailyfxguides https://t.co/qqYNi1RA2F
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here: https://t.co/ZnyMVSjd2b https://t.co/1bNvAWr7Yy
  • US equities back to record highs, but inflation concerns remain. FTSE eyeing EU-UK spat. Get your weekly equities outlook from @JMcQueenFX here: https://t.co/W5TUhVJ1YZ https://t.co/tQdkW5ysQD
  • What are the Market cycles? How are currencies impacted in these cycles? How can these cycles impact forex trading patterns? Find out here: https://t.co/ckr2fUOWqW https://t.co/rc3wLhm8Bn
  • Support and resistance are the cornerstone of technical analysis, making it the foundation that you build your knowledge on. Build a stronger foundation here: https://t.co/yXLaRpl90I https://t.co/t1vWdPFotC
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Find out about the recent history of ISM data, how to track it, and how to trade its release here: https://t.co/J8WZ1JYXnX https://t.co/4mDGc8Bfd5
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here: https://t.co/vg7w10la3j https://t.co/7Yd5Tzua0d
  • Do you know the difference between investing and trading? Because while the goal might seem the same, they're very different things . Learn more here.https://t.co/fG6fNEPj9q https://t.co/A0W3CA5EWh
  • The Canadian Dollar remains supported amid elevated crude oil prices. Don’t be surprised if the Bank of Canada disappoints aggressive hawkish expectations. Earnings season is a wildcard. Get your weekly Loonie forecast from @ddubrovskyFX here: https://t.co/iyb5OmW2S4 https://t.co/Oh35VUg9Gr
  • Rather than focusing on earning a specific number of pips per day, traders need to focus on what can be controlled. In trading terms this relates to following a strategy perfectly, with no emotion or hesitation. Learn more here: https://t.co/6ZH026QLRN https://t.co/jQ9HH9KuWy
US Dollar, Market Sentiment at the Mercy of Fed Chair Powell

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

Ilya Spivak, Head Strategist, APAC

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

  • US Dollar may rise as Powell speech stokes Fed rate hike bets
  • Aussie Dollar falls on retail sales miss, shrugs off China data
  • Canadian Dollar down with crude oil as Trump mulls Iran deal

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