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
EUR/USD
Mixed
Oil - US Crude
Bearish
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
Bullish
More View more
Real Time News
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.48% Silver: 0.09% Gold: -0.15% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/RXJn9uLVkx
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here: https://t.co/kODPAfJE79 https://t.co/6NLFoLgfs0
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.18% 🇯🇵JPY: 0.10% 🇪🇺EUR: 0.10% 🇨🇦CAD: 0.09% 🇬🇧GBP: 0.02% 🇨🇭CHF: 0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/GIHMI8cSUG
  • 🇪🇸 GDP Growth Rate QoQ Final (Q1) Actual: -0.4% Expected: -0.5% Previous: 0.0% https://www.dailyfx.com/economic-calendar#2021-06-24
  • 🇪🇸 GDP Growth Rate YoY Final (Q1) Actual: -4.2% Expected: -4.3% Previous: -8.9% https://www.dailyfx.com/economic-calendar#2021-06-24
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: France 40: 0.37% Wall Street: 0.29% Germany 30: 0.28% US 500: 0.21% FTSE 100: 0.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/mQrUIe36of
  • 🇫🇷 Business Confidence (JUN) Actual: 107 Expected: 109 Previous: 107 https://www.dailyfx.com/economic-calendar#2021-06-24
  • Heads Up:🇪🇸 GDP Growth Rate QoQ Final (Q1) due at 07:00 GMT (15min) Expected: -0.5% Previous: 0.0% https://www.dailyfx.com/economic-calendar#2021-06-24
  • Heads Up:🇪🇸 GDP Growth Rate YoY Final (Q1) due at 07:00 GMT (15min) Expected: -4.3% Previous: -8.9% https://www.dailyfx.com/economic-calendar#2021-06-24
  • Heads Up:🇫🇷 Business Confidence (JUN) due at 06:45 GMT (15min) Expected: 109 Previous: 107 https://www.dailyfx.com/economic-calendar#2021-06-24
US Dollar May Rise as Fed Chair Powell Talks Up Rate Hikes

US Dollar May Rise as Fed Chair Powell Talks Up Rate Hikes

Ilya Spivak, Head Strategist, APAC

TALKING POINTS – US DOLLAR, POWELL, JACKSON HOLE, AUSTRALIAN DOLLAR

  • US Dollar may rise as Fed Chair Powell talks up rate hikes
  • Aussie Dollar gains after Morrison replaces Turnbull as PM
  • Yen down, NZ Dollar up as risk appetite firms in APAC trade

A dull offering of European economic data is likely to see traders singularly focused on a speech from Fed Chair Jerome Powell at the US central bank’s Economic Symposium in Jackson Hole, Wyoming. Such appearances have frequently marked the announcement of key forward guidance establishing the monetary policy trajectory for the months ahead.

Mr Powell will probably look to make the case for continued interest rate hikes. Rhetoric asserting the Fed’s independence may be aimed at countering dovish jawboning from the White House while the priority of domestic objectives is stressed to deflect worries about cross-border spillover. Some emerging markets – most recently, Turkey – have wobbled as the Fed’s actions boost global borrowing costs.

The US Dollar is likely to rise in this scenario as the likelihood of a fourth rate increase in 2018 rises. Markets currently peg the probability of such an outcome at 66 percent, leaving room for greater conviction to be reflected in asset prices. Signaling that the policy stance may not be labeled “accommodative” for much longer might imply the end of the rate hike cycle is in sight however, cooling the bulls’ enthusiasm.

The Australian Dollar rose in Asia Pacific hours as the country’s government settled on who will be Prime Minister, ending days of uncertainty. The embattled Malcolm Turnbull will exit the top post, to be replaced by heretofore Treasurer Scott Morrison. The move represents a kind of hold at status quo relative to the elevation of Peter Dutton, who fronted the effort to challenge Turnbull from the right.

Resolution in Canberra seemed to buoy risk appetite across regional bourses. Shares edged up and the sentiment-geared New Zealand Dollar followed its Aussie counterpart upward. The Japanese Yen tellingly declined alongside Treasury bonds, pointing to capital flows out of anti-risk and safe haven alternatives. The greenback pulled back in the meanwhile as markets digested yesterday’s spirited advance.

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