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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
More View more
Real Time News
  • 🇷🇺 GDP Growth Rate YoY Prel (Q1) Actual: -1% Expected: -2.2% Previous: -1.8%
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: FTSE 100: -0.05% France 40: -0.10% Germany 30: -0.13% Wall Street: -0.55% US 500: -0.58% View the performance of all markets via
  • Bitcoin and Dogecoin fell sharply as major cryptocurrencies struggle to stay in demand. Get your #cryptocurrency market update from @RichDvorakFX here:
  • Heads Up:🇷🇺 GDP Growth Rate YoY Prel (Q1) due at 16:00 GMT (15min) Previous: -1.8%
  • Technical Levels for US #Dollar, $AUDUSD, #Gold, #Oil, $SPX & #Bitcoin and more! (Webinar Archive) -
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.22% 🇯🇵JPY: 0.11% 🇬🇧GBP: 0.07% 🇨🇭CHF: -0.07% 🇦🇺AUD: -0.27% 🇳🇿NZD: -0.69% View the performance of all markets via
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Germany 30: -0.06% FTSE 100: -0.09% France 40: -0.16% US 500: -0.37% Wall Street: -0.42% View the performance of all markets via
  • I am a gold bull as I have been for a while. I'm dubious on this current breakout holding, however, for a few reasons. 1) first test above a big zone in a long time 2) $USD is near a huge spot of support (below) 3) It's a Monday and $Gold is already stretched
  • *GOLD TRYING TO BREAKOUT* $Gold Testing above a huge, confluent zone of resistance right now fresh 3-month highs Possible bull flag breakout if buyers can continue to push $Gold $GC $GLD
  • Cryptos rebound after Tesla dump rumors are denied. BTC/USD rejects further sellers at previous record-high, momentum building higher. Get your $btc market update from @HathornSabin here:
US Dollar May Extend Rebound on January Inflation Data

US Dollar May Extend Rebound on January Inflation Data

Ilya Spivak, Head Strategist, APAC
US Dollar May Extend Rebound on January Inflation Data

Fundamental Forecast for the US Dollar: Bullish

  • US Dollar gains most in 15 months as markets eye steep Fed rate hike cycle
  • CPI data may drive continued recovery if inflation is stronger than expected
  • Worries about aggressive stimulus withdrawal might inspire risk aversion

See our free guide to learn how you can use economic news in your FX trading strategy!

The US Dollar scored its best week in 15 months as the aftermath of January’s explosive labor-market data continued to play out. That report showed that wage inflation surged to an 8-year high of 2.9 percent. That stoked speculation about an unexpectedly aggressive Fed tightening cycle, sending the greenback higher and punishing risky assetsthat had been buoyed by nearly a decade of ultra-loose monetary policy.

Equity markets offered the most obvious display of weakness. The MSCI World Stock index shed 5.75 percent, the most in over two years. Close to 80 percent of all monetary transactions involve the US Dollar, so when the Fed pushes up the cost of borrowing in the benchmark currency, it makes credit broadly more expensive on a global scale.

The week ahead is likely to see this narrative remain at the forefront as the spotlight turns to January’s US CPI report. It is expected to show that headline and core inflation rates ticked down last month. An upside surprise echoing the jump in wage costs seems likely to offer the greenback a further lift, all the while triggering another bout of violent selling across stock exchanges the rest of the risky asset spectrum.

The likelihood of such an outcome seems significant. Survey data from Markit Economics pointed to the continued acceleration in services-sector inflation in January, putting its pace above the trend average. Services account for close to 80 percent of the overall economy, so a slight downtick in still-elevated manufacturing-sector price growth is probably not enough of an offset.

Elsewhere on the docket, retail sales statistics and the University of Michigan consumer confidence gauge are due to cross the wires. These are probably not potent enough to have stand-alone impact on par with the CPI release however. Cleveland Fed President Loretta Mester is also scheduled to speak on the outlook for the economy and monetary policy. Her hawkish lean is well established, so a surprise seems unlikely.

--- Written by Ilya Spivak, Currency Strategist for

To contact Ilya, use the comments section below or @IlyaSpivakon Twitter

To receive Ilya's analysis directly via email, please SIGN UP HERE

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