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.



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
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
Wall Street
More View more
Real Time News
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here:
  • Supply constraints, rebounding global demand and rising inflation expectations may drive crude oil prices higher in the near term. Get your market update from @DanielGMoss here:
  • Take a closer look visually at the most influential global importers and exporters here:
  • Crude Oil Prices Aiming Higher on OPEC Surprise, Inflation Expectations - $CL #Crudeoil #OOTT #OPEC
  • Given the size of the rally in the eleven months preceding the beginning of the current decline a broader sell-off looks warranted. Get your market update from @PaulRobinsonFX here:
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here:
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here:
  • Rising yields and US Dollar creates a weak environment for gold, which trades at a 9-month low. Get your market update from @JMcQueenFX here:
  • RT @FxWestwater: US Dollar Fundamental Forecast: US Dollar Eyes Inflation Data After NFP Boost Link: $DXY https://…
  • 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:
US Dollar (DXY) Forecast - Picking Up a Bid as Stimulus Deal Hopes Fade

US Dollar (DXY) Forecast - Picking Up a Bid as Stimulus Deal Hopes Fade

Nick Cawley, Strategist
DXY Chart

Chart created with TradingView

US Dollar (DXY) Price, News and Analysis:

  • US dollar underpinned by risk-averse flows.
  • The countdown to the US Election begins.

The US dollar picked up a small risk-averse bid this week, nudging the DXY higher. The USD basket also picked up a small boost from a marginally weaker Euro but was unable to break back above 94.00 so far. The greenback is likely to keep this risk-off bid as the US presidential election looms into view on November 3 with the polls strongly favoring Democratic Party candidate Joe Biden with three weeks to go. President Trump is unlikely to give up without a fight, leaving the dollar vulnerable to pockets of volatility ahead of the vote.

USD Forecast
USD Forecast
Recommended by Nick Cawley
Download Our Brand New Q4 USD Forecast
Get My Guide

The US economic calendar is fairly uninspiring next week until the flash Markit PMIs are released at the end of the week. For all data releases and market-moving economic events see the DailyFX Economic Calendar. Investors are more likely to look at the ongoing US stimulus bill negotiations which seem gridlocked ahead of the election. A series of smaller, targeted, stimulus packages have been mooted in the meantime in an effort to help boost areas of the economy roiled by the pandemic.

The US earnings calendar is busy next week with market heavyweights Procter & Gamble (Oct 19), Netflix (Oct 20), Tesla (Oct 21), and Intel Corp (Oct 22) all worth keeping an eye on amongst a slew of other companies reporting.

Building Confidence in Trading
Building Confidence in Trading
Recommended by Nick Cawley
Building Confidence in Trading
Get My Guide

The daily US dollar basket chart shows DXY bottoming out around 93.00 at the end of last and the beginning of this week and this support should hold in the short-term. The DXY also broke above the 50-day simple moving average but is having difficulty breaking the shorter-dated 20-sma. Above a cluster of recent highs that go all the way back to the multi-month high of 94.79 made on September 25. Volatility remains low in the US dollar basket, using the 14-day ATR, but this is likely to change as the election nears.

US Dollar Basket (DXY) Daily Price Chart (April – October 16, 2020)

US Dollar Chart

What is your view on the US Dollar – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author via Twitter @nickcawley1.

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