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
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
Oil - US Crude
Mixed
Wall Street
Bearish
Gold
Bearish
GBP/USD
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
USD/JPY
Bearish
More View more
Real Time News
  • The 200-day is working sideways almost in straight-line fashion, clocking in at 12195. It should stay steady around that level for a while given its lack of any kind of trajectory. Get your #DAX technical analysis from @PaulRobinsonFX here:https://t.co/89QDSAH3lx https://t.co/WhkXTDkmsC
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Germany 30: 1.04% France 40: 0.98% FTSE 100: 0.60% US 500: 0.03% Wall Street: 0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/UAThIT98XL
  • USD/MXN has rallied back above confluence support but keep price within the confines of the near-term downtrend. Get your $USDMXN technical analysis from @MBForex here: https://t.co/I2nrgrvwq6 https://t.co/o32vPKLGKQ
  • #SP500 teetering on frequently-tested support at 3282.3. See my full take in my daily election and market update at 23:00 GMT. https://t.co/aRlCRLosqw
  • Vote on House Stopgap funding bill expected this Tuesday according to aide - BBG
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.00% Gold: -2.17% Silver: -8.68% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/5abU7hof5c
  • Poll: Many are weighing their market convictions today, so it is worth running a poll. Do you think the break lower today from the S&P 500, global indices, emg markets, carry and other 'risk' assets is the start of a lasting bear wave (ie a weeks long and -10%-plus rout)?
  • #Gold technical support zone discussed in today's webinar catching the lows. . . $XAUUSD - https://t.co/4s1mlKp2rr https://t.co/vZYjrSVNJZ
  • RT @USCBO: By the end of 2020, federal debt held by the public is projected to equal 98% of GDP. The projected budget deficits would boost…
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.33%, while traders in NZD/USD are at opposite extremes with 66.21%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/6wPYEEd6ni
US Dollar at Risk as Political Jitters Rattle Financial Markets

US Dollar at Risk as Political Jitters Rattle Financial Markets

2017-06-03 01:37:00
Ilya Spivak, Head Strategist, APAC
Share:
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