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
Bearish
Oil - US Crude
Mixed
Wall Street
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
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
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • The British Pound is eyeing a push to fresh yearly highs against the US Dollar. However, various technical setups suggest GBP could lose ground to JPY, EUR and NZD in the near term. Get your $GBP market update from @DanielGMoss here:https://t.co/NSUnZnxAdi https://t.co/BN1OvaqOUA
  • #CrudeOil prices rallying over 1.5% during Friday APAC trade #Oil #WTI https://t.co/rXUqvWx2mu
  • Crude oil prices spiked up in the last 10 mins. The US Dollar was little changed. Big news coming in? https://t.co/7IRafLFVZA
  • RT @FxWestwater: Australian Dollar Outlook: $AUDUSD May Rise, Overbought Conditions Eyed Link: https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2020/12/04/Australian-Dollar-Outlook-AUDUSD-May-Rise-Overbought-Conditions-Eyed.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr https://t.co/wxKBQo…
  • IGCS hints that gold prices may reverse higher as the S&P 500 aims for new highs. Things are looking a little bit more choppy for the growth-linked Australian Dollar. Get your $AUD market update from @ddubrovskyFX here:https://t.co/xiaQOr5D7D https://t.co/IcPbKZpcgp
  • Friday's nonfarm payroll report will be closely scrutinized by investors to assess the health of the US job market amid another viral wave. Economists foresee a 475k increase in nonfarm jobs in November, marking a fifth consecutive monthly slowdown in positions added. https://t.co/MzFlDhecEi
  • The US registered 199,988 new coronavirus cases on December 2nd. Total cases surpassed 14 million.
  • 🇵🇭 Inflation Rate YoY (NOV) Actual: 3.3% Expected: 2.6% Previous: 2.5% https://www.dailyfx.com/economic-calendar#2020-12-04
  • 🇵🇭 Inflation Rate YoY (NOV) Actual: 3.3 Expected: 2.6% Previous: 2.5% https://www.dailyfx.com/economic-calendar#2020-12-04
  • U.S. Covid hospitalizations rises to record high: 100,667 - The COVID Tracking Project $SPX $DXY
Euro and Pound May Fall on Data, US Dollar Eyes FOMC Minutes

Euro and Pound May Fall on Data, US Dollar Eyes FOMC Minutes

2018-05-23 06:30:00
Ilya Spivak, Head Strategist, APAC
Share:

TALKING POINTS – BRITISH POUND, CPI, EURO, PMI, US DOLLAR, FOMC

  • UK CPI downtick may cool BOE policy outlook, hurt British Pound
  • Euro may decline as soft PMI data compounds Italy-linked pressure
  • Hawkish tone in FOMC minutes may put US Dollar on the offensive

UK CPI data tops the economic calendar in European trading hours. The headline inflation rate is expected to hold steady at 2.5 percent but the core reading excluding volatile items like energy prices is forecast to tick down to 2.2 percent, the lowest in 13 months. Leading activity surveys bolster the case for disinflation, with a downside surprise likely to push back BOE rate hike bets and hurt the British Pound.

The preliminary set of April’s Eurozone PMI readings is also due. Steady overall results are expected despite a slight slowdown in manufacturing. Persistent underperformance in regional data relative to forecasts since late November 2017hints that analysts’ models imply a rosier worldview than reality has ratified. That opens the door for another disappointment that may dim near-term QE unwind prospects, punishing the Euro.

Later in the day, minutes from May’s FOMC meeting enter the spotlight. The policy statement published after the sit-down appeared to reaffirm the three-hike baseline outlook for 2018 but an upgrade of guidance on inflation appeared to hint at greater scope for tightening thereafter. Language reinforcing that interpretation in the Minutes document is likely to put the US Dollar back on the offensive.

In fact, the greenback already started to recover in Asia Pacific trade in what looked like pre-positioning. It was the Yen that outperformed however as the markets’ mood darkened, with regional shares following Wall Street lower and boosting the standby anti-risk Japanese unit. The sentiment-linked Australian, Canadian and New Zealand Dollars dutifully fell.

See our free guide to learn how to use economic news in your trading strategy!

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

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

DISCLOSURES