Skip to Content
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
DailyFX US AM Digest: US Dollar Rallies, Holding Uptrend from September Lows

DailyFX US AM Digest: US Dollar Rallies, Holding Uptrend from September Lows

Research, Research Team

Receive the DailyFX US AM Digest in your inbox every day before US equity markets open - signup here

The US Dollar is holding onto its uptrend from its September and October swing lows (via DXY Index) as rate hike speculation has heated up over the past two days. Fed funds futures contracts, which were implying a 73% chance of a 25-bps hike in December at the end of last week, are now pricing in an 80% chance of a move. Concurrently, with US Treasury yields moving higher – the 2-year yield is at its highest level since 2008 – the US Dollar is on solid footing as the clock ticks towards the US cash equity open.

DailyFX Economic Calendar: Tuesday, October 17, 2017 – North American Releases

The North American economic calendar is light again on Tuesday, with no ‘high’ rated data releases or events. Unlike yesterday, however, there are several ‘medium’ ranked events, including a speech from a Fed policymaker in the afternoon. For the first half of this week, the North American economic calendar will be on the lighter side, with both ‘high’ rated data releases or events for Canada and the United States coming on Friday, in the form of the September Canadian CPI report and Fed Chair Janet Yellen’s speech on monetary policy since the global financial crisis.

DailyFX Webinar Calendar: Tuesday, October 17, 2017

IG Client Sentiment Index Chart of the Day: GBPUSD

Learn more about the IG Client Sentiment Index on the DailyFX Sentiment page

GBPUSD: Retail trader data shows 50.4% of traders are net-long with the ratio of traders long to short at 1.01 to 1. The number of traders net-long is 3.4% higher than yesterday and 12.1% lower from last week, while the number of traders net-short is 7.2% higher than yesterday and 7.6% higher from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests GBPUSD prices may continue to fall. Yet traders are less net-long than yesterday and compared with last week. Recent changes in sentiment warn that the current GBPUSD price trend may soon reverse higher despite the fact traders remain net-long.

Five Things Traders are Reading

  1. “Will the Pound’s Brexit Woes be Overshadowed by CPI, Implications for BOE Policy?” by Christopher Vecchio, CFA, Senior Currency Strategist
  2. “Technical Analysis for Gold Price, US & UK Oil, DAX, S&P 500, and More” by Paul Robinson, Market Analyst
  3. “GBP/USD Underpinned as UK Inflation Hits 3%” by Nick Cawley, Analyst
  4. “Gold Prices Tumble as Fed Rate Hike Speculation Heats Up Anew” by Ilya Spivak, Senior Currency Strategist
  5. “FTSE in a Fist Fight Around Record Highs” by Paul Robinson, Market Analyst

The DailyFX US AM Digest is published every day before the US cash equity open - you can SIGNUP HERE to receive this report in your inbox every day.

The DailyFX Asia AM Digest is published every day before the Tokyo cash equity open - you can SIGNUP HERE to receive that report in your inbox every day.

If you're interested in receiving both reports each day, you can SIGNUP HERE.

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