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.



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
Please try again
Oil - US Crude
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
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here:
  • 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:
  • Gold price action is primed for volatility next week with the Fed decision on deck. How real yields and the US Dollar react to fresh guidance from Fed officials will be key for gold outlook. Get your weekly gold forecast from @RichDvorakFX here:
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here:
  • Canadian Dollar snapped a three-week losing streak after USD/CAD stalled at key technical resistance. Get your CAD weekly forecast from @MBForex here:
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here:
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here:
  • Get your snapshot update of the of top level exchanges and key index performance from around the globe here:
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here:
  • The Nasdaq 100 index is aiming to breach a key resistance level at 14,950 for a second time. A successful attempt may open the door to further gains, although the MACD indicator flags signs of weakness. Get your equities forecast from @margaretyjy here:
Dollar and QE3 Take in Dudley and Bullard Comments, Bernanke Tomorrow

Dollar and QE3 Take in Dudley and Bullard Comments, Bernanke Tomorrow

John Kicklighter, Robin Leung,

Despite record low benchmark yields for much of the developed world, risk appetite – seen through benchmarks like the S&P 500 – is still pressing record highs. However, the fundamental support behind this move is growing increasingly difficult to justify outside the auspices of stimulus. The ‘moral hazard’ that results from the Federal Reserve and other central banks’ presence leads to extremely low volatility measures as traders ignore insurance costs and leverage the sparse returns they can find in the market. This is an incredibly exposed position for the masses to be in, so there is a constant watch for any evidence that the Fed – or its international counterparts – will remove its support and change a critical dynamic.

On Tuesday, St. LouisFed President Bullard and New York Fed President Dudley spoke at separate events, and both weighed in on monetary policy. Both officials walked tight lines, but a few comments stood out amongst the rest. From Bullard, the suggestion that he doesn’t see a good case to taper QE unless inflation is rising seems to set his vote for the June meeting (no change to the $85 billion MBS and Treasury purchases). Dudley’s comments seemed vaguer without a clear indication of how he will vote. Below are key comments from both officials.



  • Doesn’t see a good case to taper QE unless inflation rises
  • Forward Guidance can give the market a “pessimistic signal”
  • Open-ended QE “has a future”
  • Fed purchases to be adjusted "appropriately”
  • It would be a “critical issue” if there were evidence that bubbles were forming
  • A multi-year period of zero interest rates means wiping out a lot of income
  • There is a danger in a dual Fed mandate, whereby excessive emphasis on employment


  • Fed did not provide enough stimulus
  • Fed may need to rethink the path and composition of its balance sheet
  • Fed should be prepared to adjust QE will move up or down, can’t be sure which will come first
  • May need to update the exit principles discussed at the June 2011 meeting
  • Says he would be surprised if inflation falls further

Amid the mixed comments provided by the Fed’s officials, the market will now focus on Bernanke’s testimony Wednesday given his symbolic position at the head of the policy body. Furthermore, the minutes from the May 1 Fed meeting will be released as well with a better view as to the conversations that were had on this heavily speculated debate. If Bernanke maintains his recent bearish ‘hands off’ path and the minutes present little progress on the discussion of an exit strategy, the dollar’s gains these past weeks could unravel.

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