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
  • 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
  • #Gold prices have broken lower and while the broader technical structure is constructive, the risk remains for a deeper correction before resumption. Get your $XAUUSD technical analysis from @MBForex here:
US Dollar Pressured After Energy-Driven CPI Print Disappoints

US Dollar Pressured After Energy-Driven CPI Print Disappoints

2017-10-13 13:00:00
Dylan Jusino,

Talking Points:

- The Consumer Price Index (CPI) came in at 2.2%, slightly lower than the estimates at 2.3%; core inflation also missed expectations at 1.7% versus the expected 1.8%.

- Third rate hike for 2017 still well in play at 83%

- The US Dollar falls below 92.95 support level following CPI print

- See the DailyFX Economic Calendar for upcoming economic data and for a schedule of live coverage see the DailyFX Webinar Calendar.

Consumer Price Index

Markets did not buy the inflation and retail data coming out of the US this morning. The headline CPI YoY figure for September came in at 2.0% slightly missing the estimated at 2.3%. The core figure was also a slight miss at 1.7% versus the estimated 1.8%. Despite CPI coming in above the Federal Reserve’s 2.0% target it was primarily driven by a rise in energy costs. Energy came in at 6.1% in September versus 2.8% in August. Food costs were flat in September over the previous month and apparel contracted at -0.1%. Transportation costs rose by 2.8% versus 1.4% in September.

Retail and Earnings

Retail Sales similarly missed estimates coming in at 1.6% versus the 1.7% estimated. Weekly earnings rose by 0.6% versus 1.0% (revised higher from 0.9%) in August.

The Next Rate Hike

CME Group’s FedWatch Tool laregly ignored this mornings data as the chance of a rate hike in December holds steady at around 83% This model is subject to change given further economic developments. The Fed’s 2% inflation target is a strong determinant of a rate hike.

US Dollar Pressured After Energy-Driven CPI Print Disappoints

Source: CME Group FedWatch Tool

Below is a list of economic releases that has driven the US Dollar higher:

- USD Consumer Price Index (YoY) (SEP): +2.2% versus +2.3% expected, from +1.9%

- USD Consumer Price Index Ex Food & Energy (YoY) (SEP): +1.7% versus +1.8% expected, from +1.7% previous

- USD Real Avg Weekly Earnings (YoY) (SEP): +0.6% versus +1.0% previous

- USD Advance Retail Sales (SEP): +1.6% versus 1.7% expected, from -0.1% previous

See the DailyFX economic calendar for Friday, October 13, 2017

Chart 1: US Dollar Index 15-minute Chart (Friday 13, 2017 Intraday)

US Dollar Pressured After Energy-Driven CPI Print Disappoints

The chart above shows that the US Dollar Index fall sharply through the intraday 92.95 support level following the realease of the CPI data. At the time that this was written the rebounded slightly although remains below 92.95.

--- Written by Dylan Jusino, DailyFX Research

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