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
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
More View more
Real Time News
  • As we head into next week, Cable is continuing to digest the massive leg higher last month, which at some point soon could mean another surge. Get your $GBPUSD technical analysis from @PaulRobinsonFX here: https://t.co/LJ42YhDe3X https://t.co/5hGwhGBpLB
  • Asia’s vast and growing importance to the world economy is not yet matched by the presence of a currency trading center to rival the established order. Get your update on market drivers in Asia from @DavidCottleFX here: https://t.co/E2hqoRdO7q https://t.co/urMnUCq4fn
  • RT @markets: White-hot pot stocks have flamed out in spectacular fashion https://t.co/3GsVsRyZaZ
  • What is the best time to trade #forex? Find out: https://t.co/M9R46r5ewa #tradingstyle https://t.co/gJ1QDrox67
  • #Gold prices may be given a tailwind from the FOMC minutes and escalating trade war risks if they fuel demand for anti-fiat assets amid expectations of additional Fed easing. Get your $XAUUSD market update from @ZabelinDimitri here: https://t.co/OJ7WUY9W7E $gld https://t.co/kBp3opzptm
  • Why should you set trading goals? How can it help regardless of what your #tradingstyle is? Find out: https://t.co/AYdD7ODlv1 https://t.co/G0ftVurNNN
  • Manning the penalty box today...i hope there aren't too many visitors https://t.co/1y81Li7laL
  • Do you think your #tradingstyle is of a #FOMO trader? Find out how you can turn that to #JOMO? Find out: https://t.co/79Q4pYdVEd https://t.co/S82AOd5AeP
  • What are the truths and lies of #forex trading regardless of your #tradingstyle here: https://t.co/uF75VPzstr https://t.co/xJ808KvLxr
  • RT @PaulMDomenick: “But Paul, I don’t have a mentor!! Really? •Do you have YouTube? You have a mentor! •Do you have a bookstore? You hav…
US Dollar May Rise on Economic Data, Global Slowdown Fears

US Dollar May Rise on Economic Data, Global Slowdown Fears

2019-03-02 16:00:00
Ilya Spivak, Sr. Currency Strategist


  • US Dollar rose on upbeat Q4 GDP surprise, soft survey readings
  • Dense data docket offers scope for news-driven volatility ahead
  • Global slowdown worries may fuel haven-seeking USD demand

Looking for a technical perspective on USD? Check out the Weekly USD Technical Forecast.

Gain confidence in your US Dollar trading strategy with our free guide!

Rebuilding Fed rate hike bets offered the US Dollar a lifeline late last week. The currency briefly dropped to a four-week low in the wake of timid testimony from Fed Chair Jerome Powell. Stronger-than-expected fourth quarter GDP data marked a reversal however, pushing priced-in policy bets implied in Fed Funds futures away from the dovish side of the spectrum. That sent bond yields and USD higher in tandem.

Interestingly, the return of yield-based appeal has not diminished the Greenback’s ability to capitalize on haven-seeking capital flows. A round of disappointing economic data on Friday cooled risk appetite, punishing stocks but boosting the Dollar. The manufacturing ISM gauge fell short of forecasts while flash readings for Markit’s manufacturing PMI and the UofM consumer confidence measure were downgraded.

The week ahead offers plenty of opportunities for data-driven volatility. The service-sector ISM survey, the Fed’s Beige Book survey of regional economic conditions and February’s labor market statistics are just the highlights on a packed docket of scheduled releases. If last week’s dynamics remain in force, USD may capitalize if the outcomes are materially divergent from forecasts, in either direction.

External influences are also plentiful. China will probably lower its target for economic growth and Australian GDP data is expected to show deceleration in the trend growth rate. Meanwhile, policy announcements from the RBA, BOC and ECB are likely to sound the alarm about a downturn in the global business cycle. The Dollar may be buoyed if all this translates into a risk-off bias across financial markets.

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

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


Other Weekly Fundemental Forecast:

Australian Dollar Forecast – Australian Dollar Faces Busy Data Week, May Struggle For Gains

British Pound Forecast – Positive Brexit Sentiment Feeding Through

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


News & Analysis at your fingertips.