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
Bullish
Oil - US Crude
Mixed
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
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
Mixed
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here: https://t.co/arxYmtQeUn https://t.co/gFVVZTGbe1
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here: https://t.co/CNtqrKWDBY https://t.co/nHXiNJhLes
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/h0TmJcZeqr
  • $USDCAD sold off aggressively last week, putting it into position to test the important 2017 low; trading bias is neutral to bearish. Get your market update from @PaulRobinsonFX here: https://t.co/sphxUAW9TB https://t.co/ZhsTeJOOM8
  • Get your snapshot update of the of top level exchanges and key index performance from around the globe here: https://t.co/d8Re5anlG5 https://t.co/qP96xmgDVn
  • The pro-risk Australian Dollar may extend gains after the record miss in US jobs data, amplifying dovish rhetoric from the Federal Reserve and keeping the Dow Jones and S&P 500 intact. Get your market update from @ddubrovskyFX here: https://t.co/yf8mPX3O3W https://t.co/uCCmjaxUhF
  • Who else is keeping close tabs on Dogecoin $DOGE this weekend? All eyes on Elon Musk @elonmusk, the proverbial 'Dogefather,' and his Saturday Night Live @nbcsnl performance kicking off at 11:30PM ET. The #crypto is already looking nice and perky following that trendline break! https://t.co/nrQsnlUqWj https://t.co/4lOz6NLQTG
  • There is some very interesting event risk over the opening half of this coming week of trade. It starts with Elon Musk hosting SNL tonight for Dogecoin traders and moves into US inflation data to as means to stir the ongoing Fed debate and Dollar https://www.dailyfx.com/forex/video/daily_news_report/2021/05/08/Dollar-Tumbles-Dow-Hits-Record-Highs-and-Dogecoin-Traders-Tune-In.html https://t.co/LXhjv7ToWC
  • It was a big week for Gold bulls and Gold prices broke out to fresh two-month-highs, finally taking-out the 1800 level along the way. Get your market update from @JStanleyFX here: https://t.co/D222Ni37Dv https://t.co/KcMYyx3Ro4
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here: https://t.co/4jsORznRTE https://t.co/PjywaPeUsl
US Dollar May Rise on Haven Flows as Markets Turn Defensive

US Dollar May Rise on Haven Flows as Markets Turn Defensive

Ilya Spivak, Head Strategist, APAC

US DOLLAR FUNDAMENTAL FORECAST: BULLISH

  • US Dollar may be buoyed by haven flows on exodus from risky assets
  • First-quarter US GDP, external data flow might inspire risk aversion
  • Dour tone in corporate earnings reports to reinforce defensive mood

Check out the latest US Dollar forecast and see what is expected to drive prices through mid-year!

The US Dollar looks likely to cement its position as a vehicle for safety-seeking capital flows in the week ahead. Mounting evidence of a downturn in domestic economic activity is likely to keep Fed policy locked in wait-and-see mode even as it sours risk appetite and stokes haven demand.

PMI surveys published Thursday put the pace of manufacturing- and service-sector growth at the weakest since September 2016. Next week’s GDP data is expected to confirm a slowdown in the first quarter. A print at 2 percent is expected but realized results may undershoot if the tenor of recent outcomes is sustained.

Meanwhile, external news-flow offers ample fodder for global slowdown speculation. The Bank of Canada will probably use the occasion of a policy announcement to worry aloud about downside risks. Incoming comments from UK Chancellor Hammond and SNB President Jordan may offer a similar message.

Turning to the data front, Germany’s IFO survey of business confidence and New Zealand trade statistics might add to the downbeat mood. Both countries are prodigious exporters and the drop in trade volumes starting around mid-2018 shows no signs of a meaningful recovery.

The first-quarter corporate earnings reporting season will continue to in tandem. Over a third of the companies making up the bellwether S&P 500 equity index are due to show results. Data from Bloomberg based on those outcomes recorded thus far points to the first period of contraction in three years.

Taken together, this seems likely to put markets in a defensive posture, with each consecutive reminder about the shaky macroeconomic backdrop helping to inspire de-risking. That might put a premium on the Greenback’s unrivaled liquidity, pushing it broadly higher.

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

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

US DOLLAR TRADING RESOURCES

OTHER FUNDAMENTAL FORECASTS:

Australian Dollar Forecast - Australian Dollar Faces The Big One As Official CPI Numbers Loom

Crude Oil Forecast - Crude Oil Prices Stalling Ahead of US Energy Earnings and GDP Data

British Pound Forecast - Will Sterling Stabilize with Brexit Risk in the Distance?

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

DISCLOSURES