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
More View more
Real Time News
  • and Daliah Muhammad too, both broke the word record Unreal!
  • If you’re not watching the #Olympics you just missed an incredible performance by Sydney McLaughlin, one for the ages
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Silver: 0.47% Gold: 0.14% Oil - US Crude: -0.34% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/FJCwYfBqBn
  • The US Dollar seems to be losing its momentum against ASEAN currencies as of late. Could this be another top in USD/SGD, USD/THB, USD/PHP and USD/IDR? Find out from @ddubrovskyFX here:https://t.co/rVBKBuhhAb https://t.co/PSkSEjVnMC
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.51% 🇦🇺AUD: 0.12% 🇬🇧GBP: 0.06% 🇨🇦CAD: 0.03% 🇨🇭CHF: 0.02% 🇯🇵JPY: -0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/Ph5lsHjmZL
  • RT @BrendanFaganFx: AUD/USD Analysis: Aussie Dollar Points Higher After Strong Chinese PMI Data $AUDUSD #Forex #Trading Link: https://t.c…
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.63%, while traders in France 40 are at opposite extremes with 82.74%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/FD0WVipVhk
  • RT @RiskReversal: Check out @GuyAdami and me on this week's @macrosetup brought to you by @IG_US with @DailyFX's @CVecchioFX. We discuss th…
  • Alibaba (9988 HK) plunged 3% after reporting a 5% YoY decline in net profit for Q2.
  • Alibaba (9988 HK) plunged 3% after it reported a 5% decline of YoY net profit for Q2.
US Dollar May Rise as Data Shows Consumers' Mood Has Darkened

US Dollar May Rise as Data Shows Consumers' Mood Has Darkened

Ilya Spivak, Head Strategist, APAC

TALKING POINTS – US DOLLAR, CONSUMER CONFIDENCE, YEN, TRADE WAR, NOK

  • US Dollar may rise on soggy UofM consumer confidence data
  • Yen lower as trade war de-escalation hopes lift APAC bourses
  • Norwegian Krone gains as Prime Minister shores up coalition

The University of Michigan measure of US consumer confidence stands out on an otherwise dull economic calendar through the end of the trading week. The US government shutdown has dramatically slowed incoming news-flow, leaving investors pining for timely indicators offering a view of near-term economic conditions. That might make this release more market-moving than usual.

The headline sentiment index is seen ticking lower to 96.8. While that would be a five-month low, it would not amount to a dramatic departure from the prevailing upward trend. A disappointing outcome reflecting a raft of worries – like fiscal headwinds from the shutdown as well as disruption and uncertainty linked to the US-China trade war – may translate into broad-based risk aversion.

Perhaps counter-intuitively, the US Dollar might fare relatively well against such a backdrop. The benchmark currency has proven to be remarkably resilient despite the collapse of priced-in Fed rate hike expectations over the past two months. In fact, it rose to a 20-month high amid a vicious late-year market rout before pulling back as risk appetite steadied. That speaks to strong haven appeal waiting to entice anew.

YEN DOWN AS APAC STOCKS RISE, NOK UP AS PM SHORES UP COALITION

The Japanese Yen narrowly underperformed in otherwise quiet Asia Pacific trade. The perennially anti-risk unit tracked lower as local stock markets followed Wall Street higher. The newswires chalked optimism to rumors that US Treasury Secretary Steven Mnuchin is pushing to scale back tariffs on China, despite a forceful official denial of any such effort.

Meanwhile, the Norwegian Krone traded broadly higher after Prime Minister Erna Solberg reached a deal with the Christian Democratic Party to broaden her ruling coalition. The move secures a legislative majority aimed at pushing through a raft of market-friendly policies, including tax cuts.

See our market forecasts to learn what will drive currencies, commodities and stocks in Q1!

ASIA PACIFIC TRADING SESSION

Asia Pacific Trade Economic Calendar

EUROPEAN TRADING SESSION

Europe Trade 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