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.

Free Trading Guides
EUR/USD
Bullish
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
Bearish
Wall Street
Bullish
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
Gold
Bullish
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
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • US Dollar Forecast - via @DailyFX: As the $USD stabilizes into month and quarter end, which follows a flareup in #FX volatility amid the #coronavirus pandemic, where might $DXY, $AUDUSD & $GBPUSD head next? Find Out: https://www.dailyfx.com/forex/fundamental/us_dollar_index/usd_trading_today/2020/03/31/us-dollar-forecast-dxy-index-audusd-gbpusd-price-analysis.html #Forex #Trading #Analysis https://t.co/QtFN12ZSkM
  • Join @ddubrovskyFX 's #webinar at 8:00 PM ET/12:00 AM GMT to find out what information you can gain from knowing what other traders are buying or selling. Register here: https://t.co/Bb3CTCTm44 https://t.co/14EYRSUsUU
  • US President Donald Trump said he has had fruitful discussions with Saudi Arabia and Russia on oil prices and efforts towards combatting the #coronavirus - First Squawk #OOTT
  • South Korean daily exports may show negative growth - Finance Chief (BBG) #KRW
  • President Donald Trump says he has not done anything on tariff payment deferments and that he has not been presented a delay plan -BBG
  • New Zealand Finance Minister the Treasury is considering "bespoke" solutions for bigger firms needing financial assistance - BBG #NZD
  • The #Dow Jones Industrial Average sold off by as much as 38.4% from the February high to the March low, while the S&P 500 lost as much as 35.9% over the same observed period. Get your #equity market update from @JStanleyFX here: https://t.co/HkNM11G1n9 https://t.co/Tiremr0LkX
  • US equity futures pointing lower heading into Asia's Wednesday trading session
  • President Trump says we're going to go through a very tough two weeks #coronavirus
  • $EURUSD Daily Pivot Points: S3: 1.0862 S2: 1.0958 S1: 1.1002 R1: 1.1099 R2: 1.1151 R3: 1.1247 https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
US Dollar Aims Higher on Haven Demand, Yield Appeal

US Dollar Aims Higher on Haven Demand, Yield Appeal

2018-09-03 15:00:00
Ilya Spivak, Head Strategist, APAC
Share:
US Dollar price action and upcoming economic data calendar

US DOLLAR FUNDAMENTAL FORECAST: BULLISH

  • US Dollar snaps 2-week loss streak as haven demand returns
  • Trade war and emerging market worries may sustain support
  • Upbeat local data to boost yield appeal if sentiment recovers

See our free guide to get help gain confidence in your US Dollar trading strategy!

The US Dollar snatched victory from the jaws of defeat last week. What looked likely to be another heavy loss until the last 48 hours of trade transformed into a narrow increase as haven demand reemerged. Trade war tensions between the US and China escalated as Donald Trump threatened to increase tariffs by another $200 billion and funding stress in Argentina revived worries about a Fed-driven rise in global borrowing costs, roiling emerging market assets.

The week ahead brings top-tier economic data back into the equation. The service-sector ISM survey is expected to show activity growth in the overwhelmingly dominant part of the economy accelerated in August after a slowdown in the prior month. Meanwhile, the always closely watched labor market data set is projected to reveal a pickup in hiring over the same period. The jobless rate is seen slipping to an 18-year low of 3.8 percent as wage inflation holds at a respectable rate of 2.7 percent on year.

On balance, all this bodes well for the greenback. If the White House pushes through another round of tariffs and churn in the emerging markets space continues, safety-seeking capital flows are likely to keep it well supported. If sentiment brightens however, a backdrop of upbeat domestic data that reinforces Fed rate hike prospects might make the benchmark currency attractive on policy divergence grounds, pushing it upward amid renewed reach for yield.

--- Written by Ilya Spivak, Sr. Currency Strategist for DailyFX.com

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

FX TRADING RESOURCES

Other Weekly Fundamental Forecasts:

NZDUSD Vulnerable to US Tariffs Trade War Fears BoC Hike Bets

USDJPY Initiates Bearish Sequence Amid Failed Run at August High

Crude Oil Market Focuses On Supply Risk Not Trump Threats As Oil Sees Monthly Gain

GBP: Sterling Dips Look Attractive After Brexit Breakthrough

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

DISCLOSURES

News & Analysis at your fingertips.