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
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
Oil - US Crude
Mixed
Wall Street
Mixed
Gold
Bullish
GBP/USD
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
USD/JPY
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
  • Dollar May Rise as Stimulus Boosts Yields, Pound Eyes Bailey Comments - https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/euro_open/2021/03/08/Dollar-May-Rise-as-Stimulus-Boosts-Yields-Pound-Eyes-Bailey-Comments.html
  • What are some monetary policies that could affect Gold this quarter? Get your Gold free forecast here: https://t.co/bTXkGN1CIM #DailyFXGuides https://t.co/E8nwHmBwE6
  • Missed the weekly outlook webinar today? See the recording here: https://t.co/7vz7cXUZfJ #Dollar #stimulus #stocks #gold
  • 🇨🇭 Unemployment Rate (FEB) Actual: 3.6% Previous: 3.7% https://www.dailyfx.com/economic-calendar#2021-03-08
  • USD/HKD edged higher as stock market melted down.. Capital outflow? https://t.co/isRXrgVIlv
  • Heads Up:🇨🇭 Unemployment Rate (FEB) due at 06:45 GMT (15min) Previous: 3.7% https://www.dailyfx.com/economic-calendar#2021-03-08
  • 🇯🇵 Eco Watchers Survey Outlook (FEB) Actual: 51.3 Previous: 39.9 https://www.dailyfx.com/economic-calendar#2021-03-08
  • Gold, Crude Oil Price Forecast: Edging Higher on the Back of Stimulus, Saudi Oil Facility Attack https://www.dailyfx.com/forex/market_alert/2021/03/08/Gold-Crude-Oil-Price-Forecast-Edging-Higher-on-the-Back-of-Stimulus-Saudi-Oil-Facility-Attack.html https://t.co/ZXrwjTaK3W
  • 🇯🇵 Eco Watchers Survey Current (FEB) Actual: 41.3 Previous: 31.2 https://www.dailyfx.com/economic-calendar#2021-03-08
  • Consolidation or bull flag? A bull flag is a continuation pattern that occurs as a brief pause in the trend following a strong price move higher. Learn how to better spot these formations here: https://t.co/yOEvLjKnct https://t.co/ZdQnb2WoEc
US Dollar Muted Following Minutes from January FOMC Meeting

US Dollar Muted Following Minutes from January FOMC Meeting

Varun Jaitly,

Talking Points:

  • Fed officials see increased global downside risk
  • US housing, labor indicators still signal strength
  • FOMC maintains rates policy is data-dependent

Find key turning points for the EUR/USD with DailyFX SSI

In the most recent FOMC minutes, multiple members saw increased downside risk and uncertainty regarding the inflation outlook and global growth. These worries can be accredited to the continuing decline in global equities, as well as low energy prices.

Lower energy prices are bringing up questions of economic stability for a number of countries and the potential harm to global growth that turmoil there could entail. Along with energy prices, countries like Japan and China continue to be seen as stability risks. Thus the risk from global markets remains an important factor for the Fed to consider as it decides the direction of future policy.

However, despite the more cautious outlook, domestic growth indicators provided some confidence at the January meeting. Areas such as housing, job growth and labor utilization showed signs of continued strength. These economic growth indicators are key gauges that the Fed as it considers the pace of its rate hike path. The importance of these measures to the Fed does not necessarily translate equally to the marketshowever.

One of the most important indicators for the Fed is inflation, and the meeting minutes release stressed the effect that low energy prices are having on headline price growth. Despite this, medium term inflation expectations were little changed and the Fed is confident of its ability to foster inflation growth to reach its 2% target. The core inflation rate is currently at 2.1 percent. However, the Fed’s preferred core PCE measure is markedly lower at 1.4.

With regards to future rate hikes, the committee maintained its cautious outlook and affirmed that it remains data-dependent. For their part, the markets no longer expect policymakers to tighten further in 2016, according to the priced-in outlook implied in Fed Funds futures contracts. Today’s release did not offer clear-cut push back against this consensus view, which perhaps explains why the US Dollar did not react in a meaningful way.

US Dollar Muted Following Minutes from January FOMC Meeting

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

DISCLOSURES