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
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
  • All eyes on the Fed on Wednesday as investors weigh on chances of a taper announcement. Get your weekly equities forecast from @HathornSabin here:
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here:
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here:
  • The US Dollar caught a bid in the late part of last week to set a fresh September high. FOMC is around the corner, are bulls going to be able to push for another fresh high? Get your weekly US Dollar forecast from @JStanleyFX here:
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here:
  • The Australian Dollar remains vulnerable to most of its major counterparts, with AUD/USD and AUD/JPY resuming losses. Did AUD/NZD bottom? AUD/CAD may consolidate. Get your weekly Australian Dollar forecast from @ddubrovskyFX here:
  • 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 ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Learn about the importance of the ISM manufacturing index here:
  • While the meetings of central bankers in the US, Japan and the UK will be front, left and center of traders’ minds this coming week, it would be wise not to ignore next Sunday’s German Federal Election. Get your euro forecast from @MartinSEssex here:
  • Take a closer look visually at the most influential global importers and exporters here:
US AM Digest: GBP Remains Pressured as Inflation Sticks at 1yr Low, USD Muted Ahead of FOMC

US AM Digest: GBP Remains Pressured as Inflation Sticks at 1yr Low, USD Muted Ahead of FOMC

Justin McQueen, Strategist

US Market Snapshot via IG: DJIA 0.05%, Nasdaq 100 0.1%, S&P 500 0.05%

Major Headlines

  • UK Inflation remains at 1yr low of 2.4%
  • President Trump states oil prices are too high
  • Markets await FOMC decision

GBP: Inflation in the UK remained at 2.4% in May, below expectations of 2.5%. As such, this has led to a further unwind of BoE rate hike expectations with an August rate hike seen at 41%., down from 45%. Subsequently, GBP has remained under pressure to hover around the low 1.33s, while the UK parliament vote over the EU withdrawal bill will also likely keep a lid on GBP gains. EURGBP looking to make another retest towards 0.8830-40, break above could open up channel towards 0.89.

USD: A relatively muted affair in FX markets ahead of the FOMC rate decision, in which the central bank is expected to deliver a 25bps hike to the Federal Fund Rate to 1.75-2%. However, the focus will be on the Fed Dot Plot projections where an upgrade to 4 2018 rate hikes could see the USD supported. A disappointment by the Fed to meet the high expectations of a hawkish hike would likely see a sharp reversal vs. the Euro and JPY.

Reminder: DailyFX Chief Currency Strategist John Kicklighter will be covering the FOMC Meeting Live from 1745GMT.

EUR: The Euro is also in focus before the ECB meeting scheduled tomorrow. A slight short squeeze observed this morning with EURUSD back towards best levels of the day at 1.1770. However, price action has been somewhat muted ahead the key central bank risk events. EURUSD dismissed the another bearish report out of the Euro-Area with industrial production falling short of analyst expectations.

DailyFX Economic Calendar: Wednesday, June 13, 2018 – North American Releases

US AM Digest: GBP Remains Pressured as Inflation Sticks at 1yr Low, USD Muted Ahead of FOMC

DailyWebinar Calendar: Wednesday, June 13, 2018

US AM Digest: GBP Remains Pressured as Inflation Sticks at 1yr Low, USD Muted Ahead of FOMC

IG Client Sentiment Index: GBPUSD Chart of the Day

US AM Digest: GBP Remains Pressured as Inflation Sticks at 1yr Low, USD Muted Ahead of FOMC

GBPUSD: Data shows 69.4% of traders are net-long with the ratio of traders long to short at 2.27 to 1. In fact, traders have remained net-long since Apr 20 when GBPUSD traded near 1.42353; price has moved 6.1% lower since then. The number of traders net-long is 2.6% higher than yesterday and 4.6% lower from last week, while the number of traders net-short is 4.9% lower than yesterday and 5.8% 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. Positioning is more net-long than yesterday but less net-long from last week. The combination of current sentiment and recent changes gives us a further mixed GBPUSD trading bias

Five Things Traders are Reading

  1. Preview for June FOMC Meeting and Outlook for US Dollarby Christopher Vecchio, CFA, Sr. Currency Strategist
  2. Charts Ahead of FOMC & ECB – USD, EUR/USD, AUD/USD, Gold Price & More” by Paul Robinson, Market Analyst
  3. USDCAD Bulls Look to Revisit 2018 Highs on Hawkish Fed” by Justin McQueen, Market Analyst
  4. GBPUSD May Fall Further After In-Line UK Inflation Databy Martin Essex, MSTA , Analyst and Editor
  5. USD Boosted by Fed’s Powell Ahead of the FOMC Meeting” by Nick Cawley, Market Analyst

--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at

Follow Justin on Twitter @JMcQueenFX

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