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
Oil - US Crude
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
More View more
Real Time News
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here: https://t.co/QszmdZFxlk https://t.co/paOy1oQmn3
  • US indices have a packed week ahead with earnings from the major technology names, US GDP data due and an FOMC rate decision. With so much on the docket the potential for volatility is heightened. Get your stock market forecast from @PeterHanksFX here: https://t.co/CH4WoStHvu
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/Yl9vM7kO6a https://t.co/otJwnuR7qe
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/s4lZWdJoXV
  • The US Dollar Index traded higher last week, sustaining its broader uptrend. Conflicting technical signals urge caution, but the directional bias remains skewed to the upside. Get your weekly USD technical forecast from @FxWestwater here: https://t.co/jcwhcsUBEN https://t.co/tKrlrRZlZn
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here: https://t.co/KDjIjLdTSk https://t.co/MGy9OTXpUI
  • The Australian Dollar still remains vulnerable as it extends losses against its major counterparts. What is the road ahead for AUD/USD, AUD/JPY, AUD/NZD and AUD/CAD? Get your AUD technical forecast from @ddubrovskyFX here: https://t.co/ph20zFv4qS https://t.co/v4g9ATf4rr
  • 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/De69mTseZN
  • Take a closer look visually at the most influential global importers and exporters here: https://t.co/G58J1dg6y3 https://t.co/D7AeTM5OpH
  • EUR/USD tumbled last week on the day of the ECB’s latest policy announcement, and that weakness is set to continue this week as a flood of major Eurozone economic statistics is released. Get your weekly Euro forecast from @MartinSEssex here: https://t.co/9B4rJnzWuz https://t.co/ENF3xlkuyP
US Dollar May Rally Further on Italian Election Results, Bernanke

US Dollar May Rally Further on Italian Election Results, Bernanke

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