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.

Free Trading Guides
EUR/USD
Bearish
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
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
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
Gold
Bearish
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
Bitcoin
Mixed
More View more
Real Time News
  • Keeping an eye on the $DAX this week as it probes various levels of resistance that could open the door higher if surmounted https://t.co/0O3Z195gbG
  • $1.8 billion in Treasury coupons purchased by New York Fed for reinvestment $TNX $DXY
  • Trader confidence has been hit by the coronavirus outbreak in China but the impact is unlikely to last long. Get your market update from @MartinSEssex here:https://t.co/7PmfW2WZWg https://t.co/13XUuF5o00
  • If you haven't already, I highly suggest taking this short 14-question quiz called DNA FX and it tells you what type of trader you most likely are. My results were position trader. What type of trader are you? https://www.dailyfx.com/research/dna-fx/quiz https://t.co/Znxh8c19gm
  • #Gold has made a series of higher lows over the last week off the January 14 low of $1,536/oz. and earlier broke above the recent $1,563.5/oz. Get your $gld market update from @nickcawley1 here:https://t.co/JcKfezIOPu https://t.co/dMuuFOGpG8
  • Forex Update: As of 15:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.30% 🇯🇵JPY: 0.24% 🇨🇭CHF: 0.04% 🇳🇿NZD: -0.07% 🇨🇦CAD: -0.19% 🇦🇺AUD: -0.28% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/vm5g0la9wZ
  • Dow Jones Rebounds from All Time High – DJIA Weekly Price Forecast More details in the link below: https://www.dailyfx.com/forex/technical/article/special_report/2020/01/21/Dow-Jones-Rebounds-from-All-Time-High-DJIA-Price-Forecast-MK.html https://t.co/V1S7OD4iDo
  • Indices Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Germany 30: -0.06% US 500: -0.17% Wall Street: -0.32% France 40: -0.62% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/stEnZDkJ7j
  • Canadian PM Trudeau says USMCA bill to be introduced Monday -BBG
  • Trump says he is happy how talks with France around tariffs went $EUR
US Dollar, Euro Brace for FOMC Minutes, IMF Global Growth Update

US Dollar, Euro Brace for FOMC Minutes, IMF Global Growth Update

2019-10-09 06:30:00
Dimitri Zabelin, Junior Currency Analyst
Share:

IMF Update, FOMC Minutes, US Dollar, Euro Outlook

  • US Dollar may rise vs Euro if FOMC minutes cool rate cut bets
  • Risk averse environment may be amplified by the IMF’s report
  • Combined, these factors could help push the US Dollar higher

Learn how to use political-risk analysis in your trading strategy!

The US Dollar may rise vs the Euro if the FOMC meeting minutes pour cold water over ultra-aggressive Fed rate cut bets against the backdrop of potentially sour news from the IMF. The latter may amplify risk aversion and place a premium on anti-risk assets and drive traders to flock to the highly-liquid US Dollar. Escalation in US-China trade war developments may also be a tailwind for haven-linked assets like JPY and CHF.

On October 8, Fed Chairman Jerome Powell gave a few remarks at the NABE conference in Denver. The overarching message was that the Fed is still data-dependent and will monitor incoming data and adjust policy accordingly. However, he did cite global developments posing a risk to the favorable US economic outlook and gave a special nod to rising geopolitics risks as a factor impacting policy.

Furthermore, on October 8, the newly-appointed IMF Director Kristalina Georgieva warned of a “synchronized slowdown”, citing trade war uncertainty as a major headwind to global GDP. She added that “growth this year will fall to its lowest rate since the beginning of the decade” and expressed concern about the global impact of the disruption of cross-border supply chains.

Read more about the ongoing trade war within Asia between two key US allies.

The crisis-lender will also be publishing an update to its World Growth Outlook report, specifically updates its analytics chapter that macro-fundamental investors may be paying attention to. This will also be occurring against the backdrop of escalating US-China trade tensions after Washington threatened to blacklist several Chinese companies for human rights violations. Chinese officials then stated to “stay tuned” for retaliation.

Market Analysis of the Day: Global Composite PMI Data Shows an Alarming Trend

Chart showing JP Morgan Composite PMI

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

News & Analysis at your fingertips.