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
Bearish
Oil - US Crude
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
Wall Street
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
Bearish
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
Bearish
More View more
Real Time News
  • 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/Uz6LKXdR2k
  • Take a closer look visually at the most influential global importers and exporters here: https://t.co/G58J1dg6y3 https://t.co/fGi6YgqqQt
  • What suits your style of trading stocks or commodities? Find out what are the differences in these two markets here: https://t.co/BnA07cMV0s https://t.co/fdigOgkmio
  • A forex trader is strategic, disciplined and always switched on to the markets. Learn how to build an FX mindset here: https://t.co/tB3aAErd70 https://t.co/Ilqz8BWTk0
  • The final ‘full’ week of the year brings about the last wave of significant event risk from around the globe, including three central bank rate decisions (Fed, BOE, & BOJ). Get your market update from @CVecchioFX here:https://t.co/PhqxSPlngI https://t.co/XX57vSjQwV
  • 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: https://t.co/kODPAfJE79 https://t.co/HOvzuOICQx
  • Ever wonder if there are other chart types that can be sued for technical analysis? HLOC charts are discussed in the following article as well as their pros and cons. Learn more here: https://t.co/qV3c7a4YR3 https://t.co/32hYzqhuZ9
  • The Australian Dollar sits on the crossroads of Treasury yields, the S&P 500 and US fiscal stimulus expectations. Will $AUDUSD gains slow? Chinese Q4 GDP and Australian jobs data are due. Get your market update from @ddubrovskyFX here: https://t.co/BsYmmWFYOH https://t.co/HhLqb2iVgk
  • #Gold prices have come under significant pressure to kick-off 2021. However, the formation of bullish technical patterns across multiple timeframes suggests that a rebound higher may be at hand. Get your market update from @DanielGMoss here: https://t.co/Dpf8N4Fh0T https://t.co/pnZpnM9yT5
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Learn about the importance of the ISM manufacturing index here: https://t.co/Xr3xtoFpZy https://t.co/yCtLFemdNc
US Dollar May Rally Further on Italian Election Results, Bernanke

US Dollar May Rally Further on Italian Election Results, Bernanke

2013-02-25 23:45:00
David Rodriguez, Renee Mu,

OPEN

HIGH

LOW

LAST PRICE

CHANGE %

USDOLLAR Index

10440.22

10444.45

10396.24

10416.61

0.117835

EURUSD Curncy

1.3177

1.3319

1.3079

1.3096

-0.74276

GBPUSD Curncy

1.5129

1.5179

1.5073

1.5171

0.05276

USDJPY Curncy

93.89

94.77

92.3

92.71

-0.76001

AUDUSD Curncy

1.0308

1.0333

1.0262

1.027

-0.4845

Sharp Euro declines on the Italian Election results weren’t enough to save the US Dollar, as the Dow Jones FXCM Dollar Index (ticker: USDOLLAR) fell on a pronounced Japanese Yen reversal.

Going into tomorrow’s trading, top event risk for the Dollar Index will be testimony from Fed Chairman Bernanke in his annual report to the US Senate Banking Committee. Much of the Fed’s policy has been covered in the FOMC Minutes released last week, but it is always interesting to listen to questions asked and answered during the so-called Humphrey Hawkins testimony.

It is almost certain that Senators will ask issues concerning about quantitative easing policy, such as risks to financial stability, market functioning and of losses on exit strategies. This will help investors gauge timing on the Fed’s monetary stimulus in the near term. Any hints of an accelerated end to Quantitative Easing could force a noteworthy US Dollar bounce.

Another driver to the Dollar Index is Japan’s January Retail Trade report due later in the day. Economists surveyed by Bloomberg News predict retail sales rose 0.9 percent in January—a result that would represent the best growth since August and improved fundamental outlook for consumption. The Japanese Yen has weakened as aggressive rhetoric and the threat of highly inflationary monetary policy have led most to sell the JPY. Yet improved fundamental outlook for the domestic economy could cloud calls for a hard change in Bank of Japan policy and put further pressure on JPY currency pairs.

The EURUSD may extend losses on political risks on the results of Italian elections. The most updated poll showed results for 97 percent of all votes and had the Centre-left on 29.67 percent and Centre-right on 29.55 percent. Political gridlock seems likely and may hinder further progress on budget-balancing deals.

Reactions in Italian bond markets summarized the day’s developments quite well: the 10-year Government Bond initially surged as it seemed the pro-Euro Centre-left would take power. Yet later poll results warned of deadlock, completely erased all gains, and forced sympathetic declines in even the US S&P 500 and broader risky asset classes.

A close below key support underlines risks that the Euro may continue to decline against the safe-haven US Dollar.

Economic Calendar

Date

Time

Currency

Event

Importance

Forecast

Previous

Fri Feb 26

15:00

forex_us_dollar_forecast_bernanke_italy_body_usd.png, US Dollar May Rally Further on Italian Election Results, Bernanke

USD Fed's Bernanke Testifies at Senate Banking Committee

High

23:50

forex_us_dollar_forecast_bernanke_italy_body_jpy.png, US Dollar May Rally Further on Italian Election Results, Bernanke

JPY Retail Trade (MoM) (JAN)

Medium

0.9%

0.0%

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

DISCLOSURES