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
Bearish
GBP/USD
Bullish
USD/JPY
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
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
Oil - US Crude
Bearish
Bitcoin
Mixed
More View more
Real Time News
  • Why do you require consistency in trading and why does it matter? Find out: https://t.co/f4y1FOOZnM #tradingstyle https://t.co/j9tsR23fLd
  • RBA Deputy Governor Guy Debelle: Mortgage arrears unlikely to rise "substantially", Australia mortgage arrears increasing steadily -BBG #RBA $AUDUSD
  • RBNZ's Hawkesby: Need to see how outlook evolves heading into February. Already expect soft activity for remainder of 2019 -BBG #RBNZ $NZDUSD
  • RBNZ's Hawkesby: Rate cut in February would require outlook to change, February rate decision is "live" -BBG $NZDUSD
  • Heads Up:🇨🇦 CAD Bank of Canada's Poloz Speaks at San Francisco Fed Conference due at 02:15 GMT (15min) https://www.dailyfx.com/economic-calendar#2019-11-15
  • 👀 https://t.co/xfH8wntdvn
  • The$USD is attempting a recovery against the Philippine Peso and Malaysian Ringgit. Well-defined resistance levels are still keeping the USD/PHP and USD/MYR downtrend intact.Get your market update from @ddubrovskyFX here:https://t.co/Qb4yAhiaog https://t.co/U8xm3duUJM
  • EUR/JPY IG Client Sentiment: Our data shows traders are now net-long EUR/JPY for the first time since Oct 17, 2019 when EUR/JPY traded near 120.82. A contrarian view of crowd sentiment points to EUR/JPY weakness. https://www.dailyfx.com/sentiment https://t.co/YqzjqSxy4X
  • Heads Up:🇨🇳 CNY New Home Prices (MoM) (OCT) due at 01:30 GMT (15min), Actual: N/A Expected: N/A Previous: 0.53% https://www.dailyfx.com/economic-calendar#2019-11-15
  • #AustralianDollar Outlook Bearish as #AUDNZD Hints at Topping - https://www.dailyfx.com/forex/technical/article/special_report/2019/11/15/Australian-Dollar-Outlook-Bearish-as-AUDNZD-Hints-at-Topping.html
US Dollar May Extend Advance as Market Sentiment Deteriorates

US Dollar May Extend Advance as Market Sentiment Deteriorates

2019-03-09 16:00:00
Ilya Spivak, Sr. Currency Strategist
Share:
USD Chart

US DOLLARFUNDAMENTAL FORECAST: NEUTRAL

  • US Dollar continues to find strength in haven-seeking capital flows
  • Incoming economic data likely to stoke worries about global downturn
  • Back-to-back “meaningful” Brexit votes to keep investors on defense

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

The US Dollar build steadily higher last week, buoyed by haven-seeking capital flows as global slowdown fears soured market sentiment and inspired an exodus from cycle-sensitive assets. That understandably put a premium on liquidity, where the Greenback has no rival. A dour assessment of growth prospects from the ECB triggered the largest upward push, producing the biggest one-day USD rise in two months.

This pattern looks likely to find follow-through in the week ahead. On the domestic data front, a defensive tone may be inspired if incoming retail sales, inflation and consumer confidence figures echo the recent string of disappointments relative to baseline forecasts. While this may nudge Fed policy bets further toward the dovish end of the spectrum, post-ECB price action hints the promise of the stimulus has lost is allure.

The external landscape is not much friendlier. Monthly UK GDP data is expected to show modest growth in February after a preceding contraction, but a steady stream of underperforming outcomes since October warns that this release may offer more fodder for global downturn worries. Meanwhile, back-to-back “meaningful votes” on the fate of Brexit will keep traders on pins and needles.

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

China represents another troubled spot. Sluggish performance in the world’s second-largest economy is at the top of investors’ list of concerns. The end of the annual National People’s Congress will probably bring a downgrade of growth objectives while retail sales and industrial production data signal continued malaise. All this seems likely to add up to another week of anti-risk support for the Dollar.

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

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

US DOLLAR TRADING RESOURCES

Other Weekly Fundamental Forecasts:

Australian Dollar Forecast –Limps Into New Week, May Well Stay Down

Oil Forecast – Crude Oil Forecast: 2019 Recovery at Risk as Near-Term Range Buckles

British Pound Forecast –A Critical Week of Brexit Votes

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

DISCLOSURES

News & Analysis at your fingertips.