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
Oil - US Crude
Wall Street
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
  • GBP turbulence persists as investors eye the next round of EU-UK Brexit negotiations. Cautious optimism signals a deal is near. Get your #currencies update from @JMcQueenFX here:
  • An economic calendar is a resource that allows traders to learn about important economic information scheduled to be released. Stay up to date on the most important global economic data here:
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here:
  • There is a great debate about which type of analysis is better for a trader. Is it better to be a fundamental trader or a technical trader? Find out here:
  • Entry orders are a valuable tool in forex trading. Traders can strategize to come up with a great trading plan, but if they can’t execute that plan effectively, all their hard work might as well be thrown out. Learn how to place entry orders here:
  • What is the outlook for financial markets ahead of the first presidential debate and how are Democratic nominee Joe Biden and President Donald Trump doing in the polls? Find out from @ZabelinDimitri here:
  • The US Dollar could gain as it forms bullish technical formations against the Singapore Dollar and Malaysian Ringgit. USD/PHP may have bottomed, will USD/IDR rise next? Find out from @ddubrovskyFX here:
  • The Indian Rupee may be at risk to the US Dollar as USD/INR attempts to refocus to the upside. This is as the Nifty 50, India’s benchmark stock index, could fall further. Get your $USDINR market update from @ddubrovskyFX here:
  • A proxy of #EmergingMarket capital flows hit its lowest since July, falling with the #SP500 after some divergence This is as #USD gained against its developing FX counterparts, highlighting potential risk of a spillover outwards Stay tuned for next week's #ASEAN fundy outlook!
  • 4 consecutive down weeks for the #SP500, last matched over a year ago #Fed balance sheet continues to gain very cautiously, now at its highest since the middle of June. Still, at slower pace than last week Focus shifts to US fiscal stimulus next week in the House of Reps
US Dollar & Treasury Yields Climb on Fed Meeting Minutes

US Dollar & Treasury Yields Climb on Fed Meeting Minutes

2020-08-19 22:15:00
Rich Dvorak, Analyst

US Dollar Outlook: Fed Meeting Minutes Steer USD & Treasury Yields Higher

  • July 2020 Fed meeting minutes sparked volatility in the US Dollar and gold prices
  • Treasury yields snapped higher with the FOMC showing little appetite for capped rates
  • The USD likely catching bid also as the Fed strikes a cautious tone on economic outlook

USD price action is ripping higher and on pace to gain nearly 0.75% today measured by the US Dollar Index. A sharp rally staged by the US Dollar seems to largely coincide with the release of July 2020 FOMC minutes, which detailed less optimistic economic outlook than previously forecasted. The latest Fed meeting minutes also stated how “a more pessimistic projection was no less plausible than the baseline forecast.”

Forex for Beginners
Forex for Beginners
Recommended by Rich Dvorak
Forex for Beginners
Get My Guide

US Dollar Index Price Chart & Ten-Year Treasury Yield Overlaid: 1-Hour Time Frame (17 AUG TO 19 AUG 2020)

US Dollar Price Chart DXY Index and Ten Year Treasury Yield

Chart created by @RichDvorakFX with TradingView

This might have fueled an influx of investor risk aversion and possibly corresponded with a rise in US Dollar demand. The USD also seemed to advance alongside a sharp rally in Treasury yields. The ten-year Treasury yield jumped about 3-basis points to 0.683% and the DXY Index rebounded toward the 93.00-handle.

Trading Forex News: The Strategy
Trading Forex News: The Strategy
Recommended by Rich Dvorak
Trading Forex News: The Strategy
Get My Guide

Slowing Fed asset purchases stands out as another potential explanation for the move. According to the FOMC minutes, there has been a welcomed improvement in financial conditions with many market functioning indicators returning to pre-pandemic levels and “purchases were conducted at the minimum pace directed” as a result.


USD Price Chart US Dollar Outlook July 2020 FOMC Minutes

Looking forward, there could be potential for more currency volatility across major US Dollar currency pairs. The upcoming release of monthly PMI data – a leading indicator used to gauge economic activity – stands out as one scheduled event that may create turbulence for USD price action. Better-than-expected PMI readings could restore market sentiment and risk appetite, which might weigh negatively on the Greenback.

Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily 4% -9% -4%
Weekly 26% -14% 0%
What does it mean for price action?
Get My Guide

Conversely, evidence that the US and global economy are stalling as the coronavirus pandemic lingers could help ignite a larger reversal by the US Dollar. Options-implied trading ranges are calculated using 1-standard deviation (i.e. 68% statistical probability price action is contained within the implied trading range over the specified time frame).

Keep Reading – Crude Oil Price Outlook Buoyed by Falling Volatility; PMIs Eyed

-- Written by Rich Dvorak, Analyst for

Connect with @RichDvorakFX on Twitter for real-time market insight

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