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
Mixed
Oil - US Crude
Mixed
Wall Street
Mixed
Gold
Mixed
GBP/USD
Bearish
USD/JPY
Mixed
More View more
Real Time News
  • RT @FxWestwater: Australian Dollar Outlook: $AUDUSD, $AUDNZD at Key Levels as Trade Data Looms Link: https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2021/03/04/Australian-Dollar-Outlook-AUDUSD-AUDNZD-at-Key-Levels-as-Trade-Data-Looms.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr https://t.co/…
  • 🇯🇵 Foreign Bond Investment (27/FEB) Actual: ¥-1719B Previous: ¥-1888.7B https://www.dailyfx.com/economic-calendar#2021-03-03
  • Heads Up:🇨🇳 National Committee of the CPPCC due at 00:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-03-04
  • Australia's Prime Minister Scott Morrison: AstraZeneca vaccine to start rollout on Friday -BBG
  • Heads Up:🇯🇵 Foreign Bond Investment (27/FEB) due at 23:50 GMT (15min) Previous: ¥-1893B https://www.dailyfx.com/economic-calendar#2021-03-03
  • The British Pound’s recent slip lower against its major counterparts may prove short-lived. Key levels to watch for GBP/USD, GBP/JPY, GBP/CHF and EUR/GBP. Get your $GBP market update from @DanielGMoss here:https://t.co/Y48cF2qi9M https://t.co/ipxZNf8RCY
  • 🇰🇷 GDP Growth Rate QoQ Final (Q4) Actual: 1.2% Expected: 1.1% Previous: 2.1% https://www.dailyfx.com/economic-calendar#2021-03-03
  • 🇰🇷 GDP Growth Rate YoY Final (Q4) Actual: -1.2% Expected: -1.4% Previous: -1.1% https://www.dailyfx.com/economic-calendar#2021-03-03
  • Gold Price Swooning as Yields Rise Ahead of Powell Speech -via @DailyFX Link to Full Analysis: https://www.dailyfx.com/forex/market_alert/2021/03/03/Gold-Price-Swooning-as-Yields-Rise-Ahead-of-Powell-Speech.html $XAUUSD $GLD $GC_F #Trading https://t.co/MpMJoDTNvz
  • 🇰🇷 GDP Growth Rate QoQ Final (Q4) Actual: 1.2% Expected: 1.1% Previous: 2.1% https://www.dailyfx.com/economic-calendar#2021-03-03
Will Dollar Index Extend Gain In the Next Sessions?

Will Dollar Index Extend Gain In the Next Sessions?

David Rodriguez, Renee Mu,

OPEN

HIGH

LOW

LAST

PRICE

CHANGE %

USDOLLAR Index

10534.65

10563.66

10504.47

10550.64

0.144085

EURUSD Curncy

1.3034

1.3065

1.2924

1.2959

-0.57542

GBPUSD Curncy

1.4903

1.4982

1.4893

1.4924

0.140911

USDJPY Curncy

96.08

96.26

95.45

96.09

0.010408

AUDUSD Curncy

1.0324

1.0334

1.0282

1.0306

-0.17435

The Dow Jones FXCM Dollar Index rallied on Euro and Australian Dollar weakness on the day. Outlook for the US Dollar remains positive amid signs of US economic recovery and risks in the Asia-pacific region.

On the US front, recent business, consumption, payroll and employment data all improved and beat expectations, signaling that the US recovery remains firm. Today’s US Advance Retail Sales data and Thursday and Friday’s US Producer and Consumer Price Index inflation reports should set the tone for next week’s US Federal Reserve interest rate decision. If the February PPI release and Initial Jobless Claims data beat expectations, we expect the US Dollar may extend declines.

In the Asia-pacific region, potential changes in China, the world’s second largest economy, may bring high volatilities to the majors. Comments from central bank Governor Zhou Xiaochuan yesterday indicate that the PBOC has shifted its focus to fighting inflation and maintaining price stability. This increases the likelihood of further PBOC monetary policy tightening as well as more restrictive fiscal policy from the government. The combination could thereby reduce domestic consumption and have a particularly negative effect on the Australian economy. The Australia Dollar could see further downside pressure as a result.

Another top market driver from China will be the announcement of the next central bank chief within two days. As a leader in the reform in banking and financial system, Chief Zhou did not exclude the chance of keeping his current position during yesterday’s press conference. If it is the case, his extension would provide stability when China is grappling with sustaining an economic recovery. A new governor, on the other hand, will bring more uncertainties to the market and investors may seek safety—benefiting the safe-haven US dollar in short-term trading.

Economic Calendar

Date

Time

Currency

Event

Importance

Forecast

Previous

Thu

Mar 14

00:30

AUD

Unemployment Rate

(FEB)

High

5.5%

5.4%

12:30

USD

Producer Price Index (YoY) (FEB)

High

1.7%

1.8%

12:30

USD

Initial Jobless Claims

Medium

350k

340k

New to forex? Sign up for our DailyFX Forex Education Series

Written by David Rodriguez and Renee Mu, DailyFX Research Team

To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up to David’s e-mail distribution list via this link.

Contact David via

Twitter at http://www.twitter.com/DRodriguezFXFacebook at http://www.Facebook.com/DRodriguezFX

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

DISCLOSURES