Skip to Content
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.

Free Trading Guides
Subscribe
Please try again
Select

Live Webinar Events

0

Economic Calendar Events

0

Notify me about

Live Webinar Events
Economic Calendar Events

H

High

M

Medium

L

Low
More View More
US Dollar Back on Offense Before Powell Speech, Yen Backtracking

US Dollar Back on Offense Before Powell Speech, Yen Backtracking

What's on this page

TALKING POINTS – US DOLLAR, POWELL, FED, YEN, BRITISH POUND, UK GDP

  • Yen corrects lower after biggest two-day rally in a year
  • US Dollar back on offense before Fed’s Powell speaks
  • British Pound casts wary eye on Q1 UK GDP revision

The US Dollar returned to the offensive in Asia Pacific trade as all eyes turned to an upcoming speech from Fed Chair Jerome Powell. He will address financial stability and central bank transparency at a Risksbank event in Stockholm. The comments may echo a similar talk delivered earlier this month saying spillover risks will not delay the US tightening cycle. If so, the greenback has scope to continue higher.

Meanwhile, the Japanese Yen turned lower as prices digested the sharpest two-day rally in a year. Those gains came as risk aversion triggered the unwinding of JPY-funded carry trades. Sentiment soured as President Trump bemoaned US/China trade talks, hinted at new tariffs on auto imports – a move that would complicate NAFTA renegotiation efforts – and cancelled a June summit with North Korea’s Kim Jong-un.

UK GDP data headlines the economic calendar in European trading hours. The revised set of first-quarter statistics is expected to confirm that output added a meager 0.1 percent in the first three months of the year, marking the weakest performance in over five years. A downside revision echoing recently disappointing news-flow and leading NIESR data may cool BOE rate hike bets further, hurting the British Pound.

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