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
Mixed
Oil - US Crude
Mixed
Wall Street
Mixed
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • Stocks may have brushed aside news the US fiscal package may not arrive before mid-March But, you know what didn't? Treasuries Average of 10Y and 30Y rates at lowest since late Dec Stopped right on the 20-day SMA Overall, coming off March 2020 peaks, but AUG uptrend holds https://t.co/wm0blgxT7D
  • The calls for stimulus will be strong in the United States between Secretary Yellen, Chair Powell and President Biden. Now, is that a benefit to the Dollar for relative risk or a detriment in inflation terms? https://t.co/gMyjKoBekO
  • Heads Up:🇨🇭 World Economic Forum Annual Meeting due at 00:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-01-26
  • Heads Up:🇯🇵 BoJ Monetary Policy Meeting Minutes due at 23:50 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-01-25
  • The Bitcoin/Ethereum ratio’s break to its lowest levels since August 2018 suggests that ETH may continue to outperform BTC in the coming weeks. Key levels to watch for Bitcoin and Ethereum. Get your $btc market update from @DanielGMoss here:https://t.co/mo3rw7bP4v https://t.co/UUbjzqhT1p
  • US Senate confirms former Fed Chair Janet Yellen as Treasury Secretary -AFP
  • 🇰🇷 GDP Growth Rate YoY Adv (Q4) Actual: -1.4% Expected: -1.7% Previous: -1.1% https://www.dailyfx.com/economic-calendar#2021-01-25
  • Majority of US Senate votes to confirm Janet Yellen as Treasury Secretary, voting will continue - BBG
  • With latest round of GDP data, South Korea's GDP per capita is now ahead of Italy's. Into G7 territory for the first time.
  • Brief update on my $AUDNZD analyst pick: The pair has confirmed the break under near-term rising support from December 20-day SMA has been taken out 50-day sits below still, may still come into play as key support if losses extend https://t.co/y4quXCd177 https://t.co/6kyGLO7BnR
US Dollar Survives Yellen Speech, Looks on to Jobs Data

US Dollar Survives Yellen Speech, Looks on to Jobs Data

Ilya Spivak, Head Strategist, APAC
US Dollar Survives Yellen Speech, Looks on to Jobs Data

Fundamental Forecast for the US Dollar: Neutral

  • US Dollar avoided outright breakdown on Yellen’s Jackson Hole speech
  • Gold prices also held their range, hinting Fed rate hike bets remain alive
  • All eyes now turn to payrolls, PCE inflation and revised GDP statistics

Prepare to trade what’s next for the US Dollar. Join our weekly cross-market outlook webinar!

The US Dollar spent most of last week in wait-and-see mode as markets braced for a speech from Fed Chair Janet Yellen at the US central bank’s annual symposium in Jackson Hole, Wyoming. The gathering has frequently served as the venue to unveil major turns in monetary policy.

Traders speculated that Yellen might use the occasion to set the stage for “quantitative tightening” (QT), the gradual unwinding of its massive balance sheet accumulated following the 2008-9 global financial crisis. When the fateful day finally arrived, Yellen conspicuously steered clear of any policy guidance.

Not surprisingly, this led a disappointed greenback broadly lower against its G10 FX counterparts. In another curious display of resilience however, the benchmark unit managed to hold up within the range that has confined price action against an average of the most-traded majors for the better part of a month.

Gold prices echoed the US currency’s performance, showing ample intraday volatility but ultimately failing to break out from their own congestion range. The yellow metal epitomizes anti-fiat assets – the Dollar’s polar opposite – and its lack of conviction seems to confirm that hopes for a hawkish Fed remain alive.

A stream of top-tier economic data will continue to steer this narrative in the week ahead. A revised set of second-quarter GDP figures, the Fed’s favored PCE inflation measure and the always closely monitored set of official labor-market statistics are all due to cross the wires.

Realized US data outcomes have steadily improved relative to consensus forecasts since mid-June. This hints that analysts’ models are underestimating the economy’s vigor and opens the door for more of the same ahead. If this proves to be the case, USD may come roaring higher as bets on stimulus withdrawal heat up.

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

DISCLOSURES