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
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
Gold
Bearish
GBP/USD
Bearish
USD/JPY
Mixed
More View more
US AM Digest: US Dollar (DXY Index) Trades within Tuesday's High-Low Range

US AM Digest: US Dollar (DXY Index) Trades within Tuesday's High-Low Range

2018-03-15 14:00:00
DailyFX Research,
Share:

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

The US Dollar is trading slightly higher at the start of the US cash equity open on Thursday, although price movement has been fairly limited. Indeed, the ranges carved out by the DXY Index on Wednesday and thus far today have not yet exceeded the high or low established on Tuesday, with traders brushing off any economic data releases as attention remains on the shakeup in White House personnel – Larry Kudlow is the new chairman of the National Economic Council – and the ongoing push for more tariffs on commodities and goods from China. Elsewhere, traders are beginning to turn their attention to next week’s FOMC meeting, the first chaired by Jerome Powell, where it is widely expected rates will be raised by 25-bps.

DailyFX Economic Calendar: Thursday, March 15, 2018 – North American Releases

US AM Digest: US Dollar (DXY Index) Trades within Tuesday's High-Low Range

The bulk of the North American calendar is in the rearview mirror for today, although there are still a smattering of releases due up over the next few hours. Of note, however, will be the Net Long-term and Total TIC Flows for January, a report which examines how much money foreigners are pouring in – or taking out – of US Treasury markets.

DailyFX Webinar Calendar: Thursday, March 15, 2018

US AM Digest: US Dollar (DXY Index) Trades within Tuesday's High-Low Range

IG Client Sentiment Index Chart of the Day: USDJPY

US AM Digest: US Dollar (DXY Index) Trades within Tuesday's High-Low Range

USDJPY: Retail trader data shows 69.8% of traders are net-long with the ratio of traders long to short at 2.31 to 1. In fact, traders have remained net-long since Dec 29 when USDJPY traded near 112.595; price has moved 5.8% lower since then. The number of traders net-long is 3.0% higher than yesterday and 8.2% higher from last week, while the number of traders net-short is 10.7% higher than yesterday and 9.3% lower from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests USDJPY prices may continue to fall. Positioning is less net-long than yesterday but more net-long from last week. The combination of current sentiment and recent changes gives us a further mixed USDJPY trading bias.

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

Five Things Traders are Reading

  1. “US Dollar Hampered by Downswing in Q1 Growth Expectations” by Christopher Vecchio, CFA, Senior Currency Strategist
  2. “Gold & Silver Technical Outlook: Prices Winding Up for a Move” by Paul Robinson, Market Analyst
  3. “Sterling (GBP) Stuck Between Russia And Brexit” by Nick Cawley, Analyst
  4. “Bitcoin, Ripple, Litecoin Price Meltdown; Are Markets Oversold?” by Nick Cawley, Analyst
  5. “Asian Stocks Recover Losses After US Session Jitters, SNB Due” by Daniel Dubrovsky,

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.

DISCLOSURES