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
EUR/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
Oil - US Crude
Bullish
Wall Street
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
Gold
Mixed
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
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
More View more
Real Time News
  • The Nasdaq Composite has faced heavy selling pressure amid surging Treasury yields. Get your #Nasdaq market update from @RichDvorakFX here:https://t.co/QPzBgW6fwm https://t.co/VDV5FBjiLM
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.99% Silver: 0.96% Gold: 0.69% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/3g2E3KYigl
  • Nasdaq, Bitcoin, Inflation - FinTwit Trends to Watch Next Week Check out my latest analysis of key market themes traders are talking about via @DailyFX at the link below: https://www.dailyfx.com/forex/market_alert/2021/05/14/nasdaq-bitcoin-inflation-fintwit-trends-to-watch-next-week.html $NDX $BTC $USD
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.84% 🇦🇺AUD: 0.63% 🇪🇺EUR: 0.50% 🇨🇦CAD: 0.40% 🇬🇧GBP: 0.30% 🇯🇵JPY: 0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/VcgEEAeJoW
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: US 500: 1.25% Wall Street: 0.83% France 40: 0.03% FTSE 100: -0.09% Germany 30: -0.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/htYAIIK7Fy
  • EUR/GBP respecting support and resistance. Client sentiment however is increasingly bearish. Get your $EURGBP market update from @nickcawley1 here:https://t.co/lnFpoZxMkk https://t.co/5lOok31Wuy
  • So Elon Musk throws Dogecoin a bone (pun intended) by saying he is working with Doge developers 'to improve system transaction efficiency' and saying it is 'potentially promising' and $DOGEUSD rallies. He has way too much influence over this market
  • Retail FX traders continue to build up their calls for a $USDCAD bullish reversal. Not starting today, that's for sure. https://t.co/9PcpHIaDaF
  • US Dollar largely unfazed on weaker Michigan headline figure. Consumers’ inflation expectations tick higher, 5-year at 3.1%. Get your market update from @FxWestwater here:https://t.co/yTrM1NXb4q https://t.co/2ADn82sLzr
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.79% 🇦🇺AUD: 0.56% 🇨🇦CAD: 0.53% 🇨🇭CHF: 0.38% 🇬🇧GBP: 0.26% 🇯🇵JPY: 0.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/Fa5HhYMFgq
EUR/USD Rises After US Inflation Data

EUR/USD Rises After US Inflation Data

Nick Cawley, Strategist

Talking Points

- US headline inflation jumps to 2.1% from 1.7% as higher energy prices feed through.

- EURUSD pushes higher as US interest rate hikes seen later in the year.

- See the DailyFX Economic Calendar and see what live coverage for key event risk impacting FX markets is scheduled for next week on the DailyFX Webinar Calendar.

Headline inflation in the US picked in December to 2.1% from 1.7% last month, as higher energy costs fed through into prices. Energy prices rose by 1.5% in December, while food prices stagnant for the sixth month in a row.

According to analysts, inflation around the 2% level will likely stay the Federal Reserve’s hand and delay interest rate hikes until the middle of the year, when expected wage growth and US President–elect Donald Trump’s USD1 trillion fiscal stimulus is likely to push inflation towards 3%. Others however see the Fed acting before by mid-2017, when inflation is expected to hit 2.5%, and look for a rate hike as early as March.

The US Dollar fell back slightly after the data hit the wire, with EURUSD trading up at 1.06810 from a pre-release level of 1.06610.

Chart: EURUSD 1-Minute Timeframe (January17-18, 2017)

EUR/USD Rises After US Inflation Data

--- Written by Nick Cawley, Analyst

To contact Nick, email him at Nicholas.cawley@ig.com

Don't trade FX but want to learn more? Read the DailyFX Trading Guides

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

DISCLOSURES