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
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
Gold
Mixed
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • Use this technical analysis pattern recognition skills test to sharpen your knowledge: https://t.co/Qgz89PTxnu https://t.co/ucc7bSbPhj
  • IG Client Sentiment Update: Our data shows the vast majority of traders in EUR/CHF are long at 74.41%, while traders in France 40 are at opposite extremes with 79.74%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/qBNern9KzG
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.19% 🇨🇦CAD: 0.06% 🇪🇺EUR: 0.04% 🇬🇧GBP: 0.01% 🇦🇺AUD: -0.01% 🇯🇵JPY: -0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/sstttLinxA
  • Heads Up:🇯🇵 Tertiary Industry Index MoM (APR) due at 04:30 GMT (15min) Previous: 1.1% https://www.dailyfx.com/economic-calendar#2021-06-15
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.38% France 40: 0.31% FTSE 100: 0.30% US 500: 0.14% Wall Street: 0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/JRrEqhpvhq
  • (Commodities Brief) Gold Price Outlook: XAU/USD Top in Play as 10-Year Treasury Yield Rebounds? #Gold #XAUUSD #Fed #Bonds https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/commodities/2021/06/15/Gold-Price-Outlook-XAUUSD-Top-in-Play-as-10-Year-Treasury-Yield-Rebounds.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/PZz6d4GCxt
  • Heads Up:🇮🇩 Balance of Trade (MAY) due at 04:00 GMT (15min) Expected: $2.3B Previous: $2.19B https://www.dailyfx.com/economic-calendar#2021-06-15
  • Get your snapshot update of the of market open and closing times for each major trading hub around the globe here: https://t.co/BgZLFljIhZ https://t.co/dObQjwTEpH
  • Consolidation or bull flag? A bull flag is a continuation pattern that occurs as a brief pause in the trend following a strong price move higher. Learn how to better spot these formations here: https://t.co/yOEvLjKnct https://t.co/K8PLT8SVEb
  • We are within 48 hours of the FOMC rate decision and markets are clearly paying attention. The Dow is struggling while the SPX has edged a fresh record. Meanwhile, the Dollar is a deer in the headlines. I discuss what to expect for Tuesday trade: https://www.dailyfx.com/forex/video/daily_news_report/2021/06/15/Dow-and-SP-500-Diverge-Ahead-of-FOMC-Dollar-Holds-as-Gold-and-Yields-Slide.html https://t.co/J0H5HirVh0
Apple Earnings, CBO Fiscal Forecasts May Boost US Dollar

Apple Earnings, CBO Fiscal Forecasts May Boost US Dollar

Dimitri Zabelin, Analyst

US Dollar, Apple Earnings, Fiscal Forecasts – Talking Points

  • The US Dollar may rise after Apple Inc. publishes Q1 earnings
  • Greenback could get additional boost from CBO fiscal forecast
  • EUR/USD selloff may accelerate on Apple earnings, coronavirus

The US Dollar may rise if Apple’s earnings for Q1 exceed expectations and boost market mood amid the contagious “risk off” effect of the coronavirus. The Greenback may also get an additional boost after the non-partisan Congressional Budget Office publishes its annual US budget and economic outlook. A stronger emphasis on the need for fiscal measures in light of their anticipation for lower interest rates may amplify USD’s rise.

Apple Q1 2020 Earnings Forecast

Apple Inc, a company with an over-1 trillion-dollar market cap, is expected to show revenue growth of $88.38 billion, a 4.8 percent increase on a year-on-year basis. As the second-largest company in regard to its weighting in the S&P 500 index at 3.83 percent, financial reverberations in the stock price of APPL has a relatively larger impact on the equity index relative to its counterparts. As such, it has the capacity to induce market-wide volatility.

Congressional Budget Office

The Congressional Budget Office’s (CBO) prior forecasts published in January 2019 had comparatively higher projections when it came to where interest rates would be between 2019 and 2029. Policymakers wrote: “The agency now expects short- and long-term interest rates over the coming decade to be lower, on average, by 0.5 percentage points and 0.8 percentage points, respectively”.

With interest rates expected to be lower in the long-term, much like in the Eurozone and with the ECB, US officials may start to place a greater emphasis on using fiscal means to achieve growth objectives. This comes as the stimulatory effect of loosening credit conditions – which are already at historically low levels – diminishes since the baseline of where officials began cutting is already comparatively shallow.

EUR/USD Technical Analysis

EUR/USD has broken below both the lower cusp of the 1.1121-1.0918 (gold-dotted lines) congestive range and the October uptrend (labelled as “beta”). The pair now has the formidable task of recovering its losses as it trades at two-month lows just below support at 1.1039 (white-dotted line). Looking ahead, if demand for havens like the US Dollar continue, the extent of EUR/USD’s decline may venture into to 1.0989.

EUR/USD – Daily Chart

Apple Earnings, CBO Fiscal Forecasts May Boost US Dollar

EUR/USD chart created using TradingView

US DOLLAR 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