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.

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
Bullish
Oil - US Crude
Mixed
Wall Street
Mixed
Gold
Bullish
GBP/USD
Bearish
USD/JPY
Mixed
More View more
Real Time News
  • Struggling to define key levels? Floor-Trader Pivots assist traders in identifying areas in a chart where price is likely to approach and can be used to set appropriate targets, while effectively managing risk. Learn how to use this indicator here: https://t.co/Ye4m1FMKUW https://t.co/sqeRL7Rf7u
  • Cyclical and non-cyclical stocks can help diversify a trader’s equity portfolio. Get your guide to understanding these stocks here: https://t.co/h7BKTd2J8N https://t.co/ukOW0dWJxf
  • Beautifully put. https://t.co/0fBsmUH6Pb
  • Gold prices could claw back lost ground ahead of the non-farm payrolls report for November, buoyed by a dovish FOMC, falling real yields and rising inflation expectations. Get your $XAUUSD market update from @DanielGMoss here:https://t.co/3mqut0yQIQ https://t.co/nfyycibwKM
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here: https://t.co/e4CnobJCss https://t.co/UWnLJHVPN4
  • Rather than focusing on earning a specific number of pips per day, traders need to focus on what can be controlled. In trading terms this relates to following a strategy perfectly, with no emotion or hesitation. Learn more here: https://t.co/6ZH026QLRN https://t.co/JJIyKh8r1l
  • That if you’re offended by what someone says on Twitter and that ruins your day, you live an extremely lucky life to be able to have that be your biggest problem for the day. https://t.co/H9KQjR3ViK
  • Myth or fact? One thing is for sure, there are a lot of misconceptions about trading. Knowing the difference between common trading myths and the reality is essential to long-term success. Find out about these 'myths' here: https://t.co/EDvQdHfIPm https://t.co/tl54v6sKkX
  • Moving averages are extremely popular due to its easy-to-use nature and multitude of uses when trading. What are some popular moving averages and how can you use them? Find out: https://t.co/ik0wQ3MLGE https://t.co/heAYoTMDeR
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here:https://t.co/ZNs4Qi8ieG https://t.co/UqZBBPZiOl
USD May Rise on Wuhan Virus Risk Ahead of White House Budget

USD May Rise on Wuhan Virus Risk Ahead of White House Budget

2020-02-10 08:00:00
Dimitri Zabelin, Analyst
Share:

US Dollar Outlook, White House Budget Proposal – Talking Points

  • US Dollar may rise on haven demand from coronavirus
  • Greenback also eyeing White House 2021 budget report
  • DXY technical analysis: when could the uptrend break?

ASIA-PACIFIC RECAP

The session started off on weak footing with the cycle-sensitive Australian Dollar falling alongside S&P 500 futures as fear about the coronavirus continued to infect market mood. The death toll is now at 805 and has completely eclipsed the number of fatalities during the SARS breakout. Australian Dollar-crosses were left unimpressed by better-than-expected year-on-year Chinese CPI statistics while APAC equities swam in red.

US DOLLAR EYES WHITE HOUSE 2021 BUDGET

The US Dollar will be closely watching the release of the White House budget for fiscal year 2021 ahead of the Presidential election in November. Policymakers are largely expecting for it to outline additional spending cuts after the Congressional Budget Office published a report that projected deficits to surpass $1 trillion over the next 10 years.

Starts in:
Live now:
Nov 30
( 03:11 GMT )
Recommended by Dimitri Zabelin
Cross-Market Weekly Outlook
Register for webinar
Join now
Webinar has ended

Regardless of whether or not his policies are market friendly are – at least for now – irrelevant, primarily because it is unclear whether he will be elected to serve for another four years. However, the nature of his economic plan may only begin to impact on markets if polls show him being able to secure another term. For a longer-term trading strategy, investors will scrutinize his policies to get a better idea of what to expect.

US DOLLAR TECHNICAL OUTLOOK

The US Dollar index (DXY) is struggling to break past the October high at 98.69 shortly after it remounted the January uptrend. The Greenback may now retreat to the upward-sloping support channel, though it is unclear whether the floor will crack under the weight of DXY’s failure to clear resistance. Consequently, the US Dollar is at risk of an aggressive selloff if the strength of the uptrend crumbles from selling pressure.

US Dollar – Daily Chart

Chart showing DXY

US Dollar 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