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
Bearish
Gold
Bullish
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • Heads Up:🇬🇧 Markit/CIPS Manufacturing PMI Final (FEB) due at 09:30 GMT (15min) Expected: 54.9 Previous: 54.1 https://www.dailyfx.com/economic-calendar#2021-03-01
  • Heads Up:🇬🇧 Mortgage Approvals (JAN) due at 09:30 GMT (15min) Expected: 96K Previous: 103K https://www.dailyfx.com/economic-calendar#2021-03-01
  • Heads Up:🇬🇧 Mortgage Lending (JAN) due at 09:30 GMT (15min) Expected: £5B Previous: £5.6B https://www.dailyfx.com/economic-calendar#2021-03-01
  • 🇿🇦 ABSA Manufacturing PMI (FEB) Actual: 53 Previous: 50.9 https://www.dailyfx.com/economic-calendar#2021-03-01
  • A “PIP” – which stands for Point in Percentage - is the unit of measure used by forex traders to define the smallest change in value between two currencies. Learn how to understand pips in forex here: https://t.co/AfAhmIoVZv https://t.co/NGW319B3Gp
  • 💶 Markit Manufacturing PMI Final (FEB) Actual: 57.9 Expected: 57.7 Previous: 54.8 https://www.dailyfx.com/economic-calendar#2021-03-01
  • 🇩🇪 Markit Manufacturing PMI Final (FEB) Actual: 60.7 Expected: 60.6 Previous: 57.1 https://www.dailyfx.com/economic-calendar#2021-03-01
  • 🇮🇹 IHS Markit Manufacturing PMI (FEB) Actual: 56.9 Expected: 57 Previous: 55.1 https://www.dailyfx.com/economic-calendar#2021-03-01
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.42%, while traders in France 40 are at opposite extremes with 70.16%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/yAs3Stf9WO
  • Heads Up:💶 Markit Manufacturing PMI Final (FEB) due at 09:00 GMT (15min) Expected: 57.7 Previous: 54.8 https://www.dailyfx.com/economic-calendar#2021-03-01
US Dollar May Rise as Services ISM Data Boosts Fed Rate Hike Bets

US Dollar May Rise as Services ISM Data Boosts Fed Rate Hike Bets

Ilya Spivak, Head Strategist, APAC

TALKING POINTS – US DOLLAR, ISM, ITALY, AUSTRALIAN DOLLAR, RBA

  • US Dollar edging higher after ebbing Italy worries reverse haven gains
  • Strong ISM data, further risk recovery may put Fed hikes back in focus
  • Aussie Dollar correcting lower after surge with some help from the RBA

The US Dollar clawed its way higher in Asia Pacific after yesterday’s fourth consecutive daily loss amid ebbing worries about concerns about political instability in Italy and Spain. The greenback retreated from an 11-mont high after Rome took a step back from the brink and Madrid seemed to manage a relatively orderly removal of long-serving Prime Minister Mariano Rajoy.

It wouldn’t be long before the subsequent recovery in risk appetite reminded yield-seeking investors about where the Fed’s uniquely hawkish position in the G10 FX pecking order however, as expected. The second half of Monday’s session saw the US unit tracking higher alongside front-end Treasury bond yields while the priced-in 2019 rate hike outlook steepened and gold prices fell.

More of the same may be on tap as investors look beyond a lackluster European calendar to focus on May’s non-manufacturing ISM survey. It is expected to show that the pace of service-sector activity growth sped up last month after three months of deceleration. Analogous Markit PMI data hints the rebound may be more pronounced than analysts project, which may offer USD a further upward push.

Meanwhile, the Australian Dollar underperformed, losing ground against all of its major counterparts as the prices retraced some of the prior day’s outsized advance. A status-quo RBA monetary policy announcement contributed somewhat to selling pressure, but most of the currency’s losses were registered before it crossed the wires.

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