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. See our updated Privacy Policy here.

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
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
Oil - US Crude
Bearish
Wall Street
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
Gold
Mixed
GBP/USD
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
USD/JPY
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
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 91.08%, while traders in France 40 are at opposite extremes with 70.81%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/15tLCxUZn4
  • Trading Forex is not a shortcut to instant wealth, excessive leverage can magnify losses, and sentiment is a powerful indicator. Learn about these principles in depth here: https://t.co/lZFM8youtX https://t.co/jF2isjXGba
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.07% 🇨🇭CHF: 0.05% 🇦🇺AUD: -0.00% 🇨🇦CAD: -0.06% 🇳🇿NZD: -0.07% 🇯🇵JPY: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/B0rRcDvXfo
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: France 40: 0.73% Germany 30: 0.71% FTSE 100: 0.67% US 500: 0.48% Wall Street: 0.40% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/6Ds7o5Hf8V
  • The buy-the-dip crowd stepped in to keep the likes of the Nasdaq from tipping critical breaks this past session post CPI. The Dollar held onto its gains a bit better. Watching $USDCAD as a run of US data weighs in on the chance for a climb: https://www.dailyfx.com/forex/video/daily_news_report/2021/05/14/Nasdaq-Drawn-Between-Buy-the-Dip-and-Inflation-Fears-Dollar-Hits-Another-Wave.html https://t.co/T0d7cQUg8j
  • The US Dollar may fall versus ASEAN currencies if dovish Fed speak extends the boost in sentiment after a huge miss in non-farm payrolls. USD/PHP is eyeing the Philippine Central Bank. Get your market update here:https://t.co/BKjG92HWzX https://t.co/8MhgacRMO9
  • Bearish Gartley Pattern Hints at Downward Potential for Nas100 - #NDX chart https://t.co/37TnsEsOqf
  • Japan's Aso: - Around 4 trillion Yen left in reserve funds - It is unlikely that reserve funds will be insufficient - BBG $USDJPY
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Gold: -0.15% Oil - US Crude: -0.48% Silver: -0.48% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/9IUnKsOJmx
  • Global stock markets may see turbulent volatility if darkening clouds over Washington’s relations with Beijing turn into a geopolitical storm. Which assets will be the lifeboat? Find out here:https://t.co/RkFI6qAyik https://t.co/dS3yMypxer
Forex Analysis: US Dollar Eye On FOMC: New Cast, New Policy?

Forex Analysis: US Dollar Eye On FOMC: New Cast, New Policy?

Renee Mu, Currency Analyst

OPEN

HIGH

LOW

LAST PRICE

CHANGE (%)

USDOLLAR Index

10174.94

10185.45

10147.65

10152.07

-0.3240

EURUSD Curncy

1.3456

1.3497

1.3414

1.3492

0.2675

GBPUSD Curncy

1.5695

1.5773

1.5686

1.5759

0.4078

USDJPY Curncy

90.86

91.02

90.33

90.66

-0.2201

AUDUSD Curncy

1.0418

1.0471

1.0406

1.0464

0.4415

Prices were taken at 19:35 GMT.

In the past session, the US Consumer Confidence hit the lowest level since November 2011 as Americans curbed spending due to higher payroll tax. The Dow Jones FXCM Dollar Index changed little after the report. Despite the substantial shift, it was particularly difficult for the data to generate strong dollar waves with the level of event risk on deck for the upcoming session. The FOMC rate decision and US Q4 GDP report scheduled for the US session tomorrow tap into deeper concerns for dollar traders. There is heavy debate amongst traders as to when the Fed’s quantitative easing program will slow or come to an end alongside evidence that the US economy is improving gradually with sustained recovery in employment trends and housing markets. The Fed, though, with new voters is less likely to stop its asset buying within the first half year of 2013.

Ultimately, despite of the bullish data and resolution of the fiscal cliff, the US economy is still far from meeting the Fed’s conditions for concluding monetary stimulus. The current unemployment rate is 7.8 percent and expected to only slowly recover from this level. That leaves considerable time to once again reach the Fed’s target jobless rate of 6.5 percent. Second, the improvements in hiring and home sales recently suggests that US economy positively reacts to the monetary stimulus – perhaps encouraging this support to be held in place for longer.

The other top driver for the Dollar Index tomorrow, 4Q expected to report a much slower 1.2 percent pace compared to the 3.1 percent reading in the 3Q.. If the reading comes out better than expected, it will be difficult to gauge the greenback’s move. There is a distinct safe haven value to the dollar, which can be undermined by strong growth readings from the world’s largest economy. On the other hand, relative growth may carry more weight in the global markets.

In today’s session the dollar was lower against all the majors measured in the Dollar Index. Most notably, the EURUSD broke to fresh 11-month highs. Yet, the Euro zone still faces fundamental problems such as the unsolved debt crisis. According to the IMF, the euro area economy will shrink by 0.2 percent in 2013. Thus concerns on the gap between financial-market optimism and economy reality may pull the euro back from its current peak. Tomorrow, forex traders may also weigh in on the Euro zone Consumer confidence statistics to adjust their short-term EURUSD bearings.

Economic Calendar

Date

Time

Currency

Event

Importance

Forecast

Previous

Tue Jan 29

23:50

Forex_Analysis_US_Dollar_Eye_On_FOMC_New_Cast_New_Policy__body_jpy.png, Forex Analysis: US Dollar Eye On FOMC: New Cast, New Policy?

JPY Retail Trade (YoY) (DEC)

Medium

0.3%

1.2%

Wed Jan 30

09:30

Forex_Analysis_US_Dollar_Eye_On_FOMC_New_Cast_New_Policy__body_gbp.png, Forex Analysis: US Dollar Eye On FOMC: New Cast, New Policy?

GBP Net Consumer Credit (DEC)

Medium

0.2B

0.1B

09:30

Forex_Analysis_US_Dollar_Eye_On_FOMC_New_Cast_New_Policy__body_gbp_1.png, Forex Analysis: US Dollar Eye On FOMC: New Cast, New Policy?

GBP Net Lending Sec. on Dwellings (DEC)

Medium

0.6B

-0.2B

09:30

Forex_Analysis_US_Dollar_Eye_On_FOMC_New_Cast_New_Policy__body_gbp_2.png, Forex Analysis: US Dollar Eye On FOMC: New Cast, New Policy?

GBP Mortgage Approvals (DEC)

Medium

54.5K

54.0K

10:00

Forex_Analysis_US_Dollar_Eye_On_FOMC_New_Cast_New_Policy__body_eur.png, Forex Analysis: US Dollar Eye On FOMC: New Cast, New Policy?

EUR Euro-Zone Consumer Confidence (JAN F)

Medium

-23.9

-23.9

13:15

Forex_Analysis_US_Dollar_Eye_On_FOMC_New_Cast_New_Policy__body_usd.png, Forex Analysis: US Dollar Eye On FOMC: New Cast, New Policy?

USD ADP Employment Change (JAN)

Medium

163K

215K

13:30 LIVE

Forex_Analysis_US_Dollar_Eye_On_FOMC_New_Cast_New_Policy__body_usd_1.png, Forex Analysis: US Dollar Eye On FOMC: New Cast, New Policy?

USD Gross Domestic Product (Annualized) (4Q A)

High

1.1%

3.1%

13:30

Forex_Analysis_US_Dollar_Eye_On_FOMC_New_Cast_New_Policy__body_usd_2.png, Forex Analysis: US Dollar Eye On FOMC: New Cast, New Policy?

USD Gross Domestic Product Price Index (4Q A)

High

1.5%

2.7%

13:30

Forex_Analysis_US_Dollar_Eye_On_FOMC_New_Cast_New_Policy__body_usd_3.png, Forex Analysis: US Dollar Eye On FOMC: New Cast, New Policy?

USD Core Personal Consumption Expenditure (QoQ) (4Q A)

Medium

1.0%

1.1%

13:30

Forex_Analysis_US_Dollar_Eye_On_FOMC_New_Cast_New_Policy__body_usd_4.png, Forex Analysis: US Dollar Eye On FOMC: New Cast, New Policy?

USD Personal Consumption (4Q A)

Medium

1.8%

1.6%

19:15 LIVE

Forex_Analysis_US_Dollar_Eye_On_FOMC_New_Cast_New_Policy__body_usd_5.png, Forex Analysis: US Dollar Eye On FOMC: New Cast, New Policy?

USD Federal Open Market Committee Rate Decision (JAN 30)

High

0.25%

0.25%

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

DISCLOSURES