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
Bullish
Wall Street
Bullish
Gold
Mixed
GBP/USD
Bearish
USD/JPY
Mixed
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
  • UK money markets erase bets on BoE rate cut - BBG. #BoE $GBP
  • $EURUSD has strengthened today amidst weakness from the US Dollar, rising back above the 1.2200 level for the first time since early January. $EUR $USD https://t.co/pQg3qOA4dM
  • $USD is weak, so is $Gold continued bearish move from that resistance inflection earlier this week. making another move towards the key support zone 1763-1766 (img 2) $GC $GLD https://t.co/MW8A7cf8Wh https://t.co/1cwWumk1jh
  • $USDCAD crushed through that 1.2500 handle, but selling seems to be slowing below the psych level. could be an item of resistance for bearish trend plays in the pair https://t.co/PYNl1F4kqG https://t.co/g1xGtf28LM
  • Fed's Bostic: - Economy is currently in a rough patch, recovery has been very uneven - GDP rebound has happened faster than employment rebound - Optimistic that vaccinations will drive faster job growth - Fed's mandate focuses on employment, not GDP #Fed $USD
  • Yields on the US 10y Treasury tightened slightly following strong durable goods orders and lower than expected jobless claims prints, falling from 1.46% to 1.44%. $USD $GOVT https://t.co/rNYUqJe7AE
  • GBP/CNH approaching an interesting area of longer-term resistance... #yuan #sterling #gbpcnh @DailyFX Prices via @IGcom https://t.co/mCVu8Op8JW
  • 🇺🇸 GDP Price Index QoQ 2nd Est (Q4) Actual: 1.8% Expected: 2% Previous: 3.3% https://www.dailyfx.com/economic-calendar#2021-02-25
  • 🇺🇸 Initial Jobless Claims (20/FEB) Actual: 730K Expected: 838K Previous: 841K https://www.dailyfx.com/economic-calendar#2021-02-25
  • 🇺🇸 Jobless Claims 4-week Average (FEB/20) Actual: 807.75K Previous: 828.25K https://www.dailyfx.com/economic-calendar#2021-02-25
US Dollar at Risk as Political Jitters Rattle Financial Markets

US Dollar at Risk as Political Jitters Rattle Financial Markets

Ilya Spivak, Head Strategist, APAC
US Dollar at Risk as Political Jitters Rattle Financial Markets

Fundamental Forecast for the US Dollar: Neutral

  • UK election may drive risk aversion, hurt Fed rate hike bets
  • Comey testimony may stoke uncertainty fears, sour sentiment
  • Efforts to loosen US financial rules may be overshadowed

Retail traders expect the US Dollar to rise. Find out here what that hints about the price trend!

The US Dollar succumbed to renewed selling pressure last week, giving up most of the previous week’s gains. The down move accelerated against a backdrop of cooling Fed rate hike speculation to culminate in Friday’s outsized drop after May labor-data proved disappointing.

The economic calendar thins out in the week ahead, with the service-sector ISM survey amounting to the only bit of truly top-tier event risk. Meanwhile, Fed-speak vanishes entirely as policymakers go mum ahead of the June 14 monetary policy announcement.

This hardly translates into quiet conditions however as politics overtakes the spotlight. A much-anticipated general election in the UK promises to stir activity well beyond local markets as voters pick who will steer them through Brexit proceedings.

The ballot was expected to hand the ruling Conservatives an easy win just recently but a sudden narrowing in the polls has raised the specter of a hung parliament. Such an outcome may sour market-wide risk appetite and undermine the Fed’s wherewithal to sustain a tightening cycle, hurting the US Dollar.

Meanwhile, the investigation into possible links between Trump administration officials and Russian operatives will heat up as ousted FBI director James Comey testifies. That will compete for investors’ attention with Congressional efforts to loosen Dodd-Frank financial regulations.

News-flow pulling the White House deeper into the scandal would probably rattle markets and undermine the greenback. Hopes for a more hands-off regulatory regime may help counter selling pressure but are unlikely to offset it fully as executive branch turmoil casts a cloud over implementation.

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

DISCLOSURES