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
More View more
Real Time News
  • 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:
  • The US Dollar continues to push higher against ASEAN currencies after the FOMC rate decision. This leaves the USD/SGD, USD/THB, USD/PHP and USD/IDR outlook mostly tilted higher. Get your market update from @ddubrovskyFX here:
  • The US Dollar seems to be back on the offensive against its major counterparts, pressuring EUR/USD and NZD/USD lower as USD/JPY consolidates. USD/CHF surges past key resistance. Get your market update from @ddubrovskyFX here:
  • The Japanese Yen remains in focus with strength potential on risk aversion themes to go along with weakness on themes around higher rates. Get your weekly $JPY technical forecast from @JStanleyFX here:
  • Google finance-related search interest in 'Evergrande' has almost overtaken 'Covid'. 'Taper' doesn't even register on the scale
  • Gold prices gain as potential systemic risks out of China's Evergrande Group roil broader markets. Meanwhile, iron ore is ticking higher after a big drop on Monday as China steps up steelmaking curbs. Get your market update from @FxWestwater here:
  • Gold remains higher despite positive Evergrande news out of China. Meanwhile, copper bulls are pushing prices upward as the potential for a housing crisis in China ebbs. Get your market update from @FxWestwater here:
  • GBP/USD has flattened overnight after its strongest rally in a month on Thursday. The British currency has been under pressure recently as an energy crisis has caused a number of gas providers to go bankrupt. Get your market update from @HathornSabin here:
  • Japanese candlesticks are a popular charting technique used by many traders, and the shooting star candle is no exception. Learn about the shooting star candlestick and how to trade it here:
  • Gold could suffer further near-term losses due to rising U.S. Treasury yields and a weak technical picture for price action. Get your weekly gold forecast from @DColmanFX here:
US Dollar Retreats Despite FOMC Minutes Plotting Out Course to Next Hike

US Dollar Retreats Despite FOMC Minutes Plotting Out Course to Next Hike

John Kicklighter, Christian Lewis,

Talking Points:

  • The USD dropped against all of its major counterparts after release of FOMC minutes
  • Reports ‘many’ officials see hike ‘fairly soon’ if economy holds, debate on balance sheet ahead
  • Mention downside risk of inflation and higher Dollar, fiscal outlook could prove a tail wind

See what live coverage is scheduled for key event risk in the FX and capital markets on theDailyFX Webinar Calendar.

The US Dollar slid Wednesday afternoon following the release of the Federal Reserve’s February meeting minutes despite view from ‘many’ that next hike could come ‘fairly soon’. Although nothing in the minutes directly suggested that a March rate hike is off the table, it appears that the markets have broadly interpreted the minutes to be less hawkish than the recent speculative build up had afforded. A number of FOMC members – both voters and non-voters – have stated that they would not write off the possibility of a hike a the upcoming meeting (March 15th), which would represent a material acceleration of the 12-month gap between the last two moves.

While most Fed officials still back a gradual rate hike path, the view from a segment of the group calling for an increase ‘fairly soon’ carries either a hawkish connotation or will ultimately confuse. Among some of the restraining factors stated, a few officials believed inflation concerns would keep their votes sidelined. With certain inflation expectation measures undershooting targets, and Donald Trump’s fiscal stimulus plans remaining foggy; time may be needed for the Fed’s ‘outlook to clear’. On government policy changes, it was noted ‘some’ officials saw downside risks. Also of considerable note for FX traders, the minutes generally mentioned downside risks from further Dollar strength – perhaps the motivation to offset the modest boost to rate speculation for the currency after the release.

Another view to take note of in the minutes was the suggestion that debates over the balance sheet would begin at upcoming meetings. That would be a significant alteration to the ‘normalization’ process to this point. When the market made its assessment as to the balance of this report, the US Dollar dropped alongside bond yields in the aftermath of the release. This may suggest that the market took the outcome of today’s minutes to mean an unlikely March hike from the Fed was a lower probability than the skeptical had afforded. However, it may also reflect the same uncertainties surrounding fiscal policy and a targeting of the currency that traditionally reserved for ‘other’ central banks.

US Dollar Retreats Despite FOMC Minutes Plotting Out Course to Next HikeUS Dollar Retreats Despite FOMC Minutes Plotting Out Course to Next HikeUS Dollar Retreats Despite FOMC Minutes Plotting Out Course to Next Hike

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