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
Oil - US Crude
Bearish
Wall Street
Bearish
Gold
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
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • Indices Update: As of 19:00, these are your best and worst performers based on the London trading schedule: France 40: 0.24% FTSE 100: 0.22% Germany 30: 0.16% Wall Street: 0.10% US 500: -0.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/sOcGz4EkJX
  • Heads Up:🇺🇸 Fed Daly Speech due at 19:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-03-02
  • https://t.co/KHPiVOm6uX
  • AUD/USD extends the rebound from the February low (0.7692) as the Reserve Bank of Australia (RBA) keeps the official cash rate (OCR) at the record low of 0.10%. Get your $AUDUSD market update from @DavidJSong here:https://t.co/eJpPMG3nPu https://t.co/g2WLrIF1u6
  • Fed's Brainard: - Pays close attention to market developments - Treasury yield surge "caught my eye" - Would be concerned by disorderly conditions #Fed $USD
  • Fed's Brainard: There are some signs of stretched asset valuations, but not broadly so. #Fed $USD $SPY
  • British #Pound Forecast: #Sterling Snaps Six Week Rally- Cable Support? - $GBPUSD Levels - https://t.co/qF1eHjmjZR https://t.co/JT10LqVmZC
  • Fed's Brainard: - Even after economic conditions warrant liftoff, changes in the policy rate are likely to be gradual - Asset purchases will continue at least at their current pace until substantial further progress has been made towards Fed's goals #Fed $USD
  • Fed's Brainard: - Vaccinations, fiscal measures, and monetary policy point to a strong modal outlook for 2021 - Considerably uncertainty remains #Fed $USD
  • Fed's Brainard: - There is no reason to expect an enduring jump in inflationary pressures - Inflation remains low but expectations have moved closer to 2% - The Fed has the necessary tools and will act if inflation rises immoderately #Fed $USD
Dollar Shrugs Off Mixed Import Prices and Declining Export Prices

Dollar Shrugs Off Mixed Import Prices and Declining Export Prices

Dylan Jusino,

Talking Points:

- Import prices rose by 0.1% MoM missing the 0.4% forecast, prices fell by -0.1% on a YoY basis

- Export prices fell as well coming in at -0.1%, missing the forecast at 0.3%

- The US Dollar largely ignored the trading data

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

Mixed Import Prices and Falling Export Prices

This morning, the U.S. Bureau of Labor Statistics (BLS) reported that headline import prices ticked up by 0.1% in December on a month-over-month basis. This comes after a much larger 0.8% rise in the previous month. The 10 basis point increase was attributed to higher fuel prices which offset a decline in nonfuel prices. However, the core print adjusted for fuel prices, fell by 0.2% after 0.2% increase in November. In addition, US export prices declined by 0.1% on a month-over-month basis. This follows a 0.5% percent advancement in November. The chart below reflects the month-over-month export and import changes in 2017 from the BLS report:

Dollar Shrugs Off Mixed Import Prices and Declining Export Prices

1-month import prices changes (MoM)

Dollar Shrugs Off Mixed Import Prices and Declining Export Prices

1-month export prices changes (MoM)

Import Prices

The import price index index has not recorded a monthly decline since July which was -0.2%. Overall, U.S imports increased 3.0% in 2017, following a 1.9% advance from the previous year. 2017 was the largest calendar-year increase since 2011 in which prices rose by 8.5%.

All Imports Excluding Fuel

As previously mentioned the price index for nonfuel imports fell by 0.1% inDecember, which is the first monthly decline since a July at -0.1%. In December, the decline was led bylower prices for foodsand beverages, consumer goods, and nonfuel industrial supplies and materials.In 2017, of the major import areas, only prices for automotive vehicles decreased.

Export Prices

December’s decline in the export price index marks the first monthly decline for the indexsince June at 0.1%. The drop last month was led by falling agricultural prices. In 2017, export prices increased by 2.6%after rising 1.3% in 2016. Last year’s marked the largest calendar-year advance since 2011 when the index

rose 3.6%.

Below is a list of economic releases that is having a limited impact on the US Dollar:

- USD Import Price Index (MoM) (DEC): +0.1% versus +0.4% expected, from +0.8% (revised up from +0.7% previous)

- USD Import Price Index ex Petroleum (MoM) (DEC): -0.2% versus +0.1% expected, from +0.2%(revised up from +0.1% previous)

- USD Export Price Index (MoM) (DEC): +0.1% versus +0.3%expected, from +0.5% previous

See the DailyFX economic calendar for Wednesday, January 10, 2018

Chart 1: US Dollar Index 15-minute Chart (Wednesday, January 10, 2018 Intraday)

Dollar Shrugs Off Mixed Import Prices and Declining Export Prices

The chart above shows that the US Dollar Index shrugged off the mixed trading data from this morning. Prior to the release, DXY traded at around 92.10. At the time that this was written, the US Dollar Index traded slightly lower at 92.04.

--- Written by Dylan Jusino, DailyFX Research

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

DISCLOSURES