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
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
Wall Street
Bearish
Gold
Mixed
GBP/USD
Bearish
USD/JPY
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
More View more
Real Time News
  • President Biden: - We agreed to do more to enhance the resilience of critical infrastructure around the world - More work to do to beat the virus; we cannot let our guards down
  • AUD/USD is little changed from the start of the year as the Reserve Bank of Australia (RBA) remains reluctant to normalize monetary policy. Get your $AUDUSD market update from @DavidJSong here:https://t.co/nkHYQMMv4F https://t.co/V70PNu3FRd
  • President Biden: - Endorsed new (NATO) cyber defense policy - Adopted climate security plan (NATO)
  • Bitcoin slightly off its intraday highs, currently trading back below $40,000 #Bitcoin $BTCUSD https://t.co/MYISOU8c9B
  • The US 10Y beginning to retrace some of last week's rally, slowly crawling back towards 1.50% https://t.co/P2a5fHQUlq
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.03% Silver: -0.22% Gold: -0.70% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/XxGZAbPEdL
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Gold are long at 74.73%, while traders in France 40 are at opposite extremes with 78.49%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/7XIu5r1o2l
  • #Euro Forecast: $EURUSD Falters at Yearly Open Resistance- #FOMC Levels - https://t.co/uWukTncIRg https://t.co/dn84mhHxQx
  • The gold monthly opening-range is set just below confluence resistance – breakout to offer guidance. Get your $XAUUSD market update from @MBForex here:https://t.co/19rCMiLlxG https://t.co/uFGK8q14KG
  • WTI Crude Oil Breakout (Update) https://www.dailyfx.com/forex/analyst_picks/todays_picks/james_stanley/2021/06/14/wti-crude-oil-breakout-update.html $oil #oott https://t.co/UGOItnUhgd
US Dollar Eyes Fed's Evans Speech After Bullard's Commentary

US Dollar Eyes Fed's Evans Speech After Bullard's Commentary

Dimitri Zabelin, Analyst

FED’S EVANS COMMENTARY, US DOLLAR – TALKING POINTS

  • US Dollar traders eyeing Fed’s Evans speech
  • Fed’s Bullard yesterday radiated neutral tones
  • RBNZ slashes OCR by 50bp, spooked markets

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

APAC RECAP

Early into Wednesday’s Asia Pacific trading hours, the New Zealand and Australian Dollars were dealt a blow by an unexpectedly more-dovish Reserve Bank of New Zealand. The RBNZ cut the Overnight Cash Rate by 50bp, surprising market participants of whom the majority had priced in only 25bp cut. Excerpts from the monetary policy statement subsequently spooked markets and caused AUDUSD to plunge to 10-year lows.

US DOLLAR EYES CHICAGO FED PRESIDENT CHARLES EVANS COMMENTS

While the market reaction to St. Louis Fed President James Bullard’s comments was fairly muted, the actual underlying message was quite telling. How he brushed off recession fears and the inversion of the yield curve suggests he is not overly worried about the current outlook. But that’s not to say he’s happy about it. Tepid inflation and ongoing trade uncertainty remain key headwinds and he alluded to possible policy changes ahead.

He made it clear, however, that the Fed cannot respond to day-to-day trade developments and believes the central bank should not respond to knee-jerk reactions in the stock market. He also mentioned that the Fed has adjusted to trade uncertainty. This echoes Chairman Jerome Powell’s comments at the most recent FOMC meeting where he mentioned that the rate cut was serving as an insurance against future downside risks.

Markets will now be turning their attention to Chicago Fed President Charles Evans’ media breakfast event. It will be interesting to see whether Mr. Evans’ tones will echo Mr. Bullard’s neutrality. If so, equity markets may express some panic from the idea that the prospect of lower borrowing costs may not be coming as soon as they would hope, much like they did at the most recent FOMC rate decision.

CHART OF THE DAY: AUDUSD REACHES 10-YEAR LOWS AFTER RBNZ SPOOKED MARKETS

Chart Showing AUDUSD

AUDUSD chart created using TradingView

FX TRADING RESOURCES

--- Written by Dimitri Zabelin, Jr Currency Analyst for DailyFX.com

To contact Dimitri, use the comments section below or @ZabelinDimitrion Twitter

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES