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
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
Oil - US Crude
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
Wall Street
Bullish
Gold
Bearish
GBP/USD
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
USD/JPY
Mixed
More View more
Real Time News
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.15% Germany 30: 0.04% France 40: 0.03% US 500: -0.22% Wall Street: -0.34% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/sVdaYog98o
  • RT @FxWestwater: $USDCNH: U.S. Sanctions Hong Kong Officials, Chinese #Yuan Sinks - via @DailyFX https://www.dailyfx.com/forex/market_alert/2020/08/07/USDCNH-U.S.-Sanctions-Hong-Kong-Officials-Chinese-Yuan-Sinks.html
  • Senator Schumer says meeting planned for this afternoon with White House - BBG
  • RT @IGTV: Looking ahead to next week, @JMcQueenFX looks at $NZDCAD and $NZDJPY ahead of next week’s rate decision from the Reserve Bank of…
  • Canadian #Dollar Outlook: $USDCAD Responds to Major Trend Support - https://t.co/4fMIS32WYJ https://t.co/qbC1xYLo6W
  • GBP/USD is close to recovering all of the COVID-19 sell-off seen in March and will need new drivers to push further higher. Get your $GBPUSD market update from @nickcawley1 here: https://t.co/ZTGGMm0vYx https://t.co/RkdBbIUUXT
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.31% 🇨🇭CHF: -0.46% 🇨🇦CAD: -0.54% 🇪🇺EUR: -0.79% 🇦🇺AUD: -0.84% 🇳🇿NZD: -1.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/e0bdKqxsfz
  • Secretary Pompeo says actions on Hong Kong send clear message - BBG
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.52% France 40: 0.08% FTSE 100: 0.06% US 500: -0.05% Wall Street: -0.14% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/fho9Xdiw4A
  • $Gold pullback has finally started. Given aggression on the bid this week, could be end of week profit taking after a really big run to fresh all time highs. Picking off support potential going to be a challenge, but a couple of relatively nearby spots of prior res $GC $GLD https://t.co/c76XHAuzHd https://t.co/GKYJ9qKyS7
Euro and US Dollar Focused on Fed, May Look Past Key Data

Euro and US Dollar Focused on Fed, May Look Past Key Data

2018-07-31 06:30:00
Ilya Spivak, Head Strategist, APAC
Share:

TALKING POINTS – EURO, CPI, GDP, US DOLLAR, PCE, YEN, BOJ

  • Euro unlikely to find lasting catalysts in regional CPI, GDP data
  • US Dollar may look past PCE report as Fed rate decision nears
  • Yen lower after BOJ, Canadian Dollar down on NAFTA deadlock

Eurozone CPI and GDP data headlines the economic calendar in European trading hours. The headline inflation rate is expected to hold steady at 2 percent on-year in July. Meanwhile, output growth is seen slowing from 2.5 to 2.2 percent in the second quarter, the weakest in over a year.

The Euro largely ignored German CPI data yesterday, as expected. A similarly muted outcome seems likely this time given the outcomes’ limited implications for near-term ECB policy. QE asset purchases are essentially on autopilot and rates aren’t seen rising until at least October of next year.

Later in the day, the Fed’s favored PCE price growth gauge is due to cross the wires. The trend growth rate is seen holding on-target at 2 percent on-year for a second month. Here too however, follow-though may prove to be lackluster as the US Dollar looks ahead to the looming Fed policy announcement.

The Yen fell after the Bank of Japan said it intends to keep rates low for an “extended period of time” and lowered forecasts for inflation from the current fiscal year through FY2020. While policymakers maintained their JGB holdings target, they pledged to allow more flexibility in bond purchase operations.

The strategy for ETF purchases seems to have seen the most adjustment. The BOJ will now focus its efforts on buying securities tracking the Topix rather than the Nikkei benchmark index, although officials said market conditions may spur further changes.

On balance, the markets seemed to see the outcome as relatively dovish. Speculation about dialing stimulus swelled before today’s announcement amid concerns about its impact on commercial bank profitability. What ultimately emerged looks more like tinkering at the margins rather than a clear-cut change of course.

The Canadian Dollar also fell after the National Post reported that officials from its home country will be kept out of high-level talks between US and Mexican negotiators on the fate of the NAFTA free trade pact. The newspaper cited unidentified sources familiar with the matter.

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

ASIA PACIFIC TRADING SESSION

Euro and US Dollar Focused on Fed, May Look Past Key Data

EUROPEAN TRADING SESSION

Euro and US Dollar Focused on Fed, May Look Past Key Data

** 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

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.