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
EUR/USD
Bullish
Oil - US Crude
Mixed
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
Wall Street
Bullish
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
Gold
Mixed
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
Mixed
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
USD/JPY
Bullish
More View more
Real Time News
  • 🇳🇱 Consumer Confidence Final (JUN) Actual: -27 Previous: -31 https://www.dailyfx.com/economic-calendar#2020-07-06
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.22%, while traders in US 500 are at opposite extremes with 69.86%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/MNLQfuvr2U
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.33% 🇪🇺EUR: 0.30% 🇳🇿NZD: 0.26% 🇨🇦CAD: 0.09% 🇬🇧GBP: 0.01% 🇯🇵JPY: -0.18% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/1neF13YBgw
  • Heads Up:🇳🇱 Consumer Confidence Final (JUN) due at 04:30 GMT (15min) Previous: -31 https://www.dailyfx.com/economic-calendar#2020-07-06
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Germany 30: 2.30% France 40: 2.21% Wall Street: 1.75% FTSE 100: 1.54% US 500: 1.44% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/hossI2xmCO
  • A macro forex trading guide exploring the US-Canada relationship and how to trade the Canadian Dollar through the prism of the Core-Perimeter model. Get your market update from @ZabelinDimitri and @PeterHanksFX here:https://t.co/dF51UMcGFC https://t.co/Ba5JxKQFrH
  • RT @DanielGMoss: Risk assets following Chinese equities higher as the #ChinaA50 index breaks to fresh 12-year highs The trade-sensitive $…
  • RT @margaretyjy: The FTSE China A50 Index hit 12-year high at 15,600 points. Mainland China brokerage firms were reported to see new accoun…
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.15% Gold: -0.10% Silver: -0.40% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/t230TpLdIC
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.26% 🇦🇺AUD: 0.24% 🇪🇺EUR: 0.18% 🇨🇦CAD: 0.02% 🇬🇧GBP: -0.07% 🇯🇵JPY: -0.22% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/5Ey0AYV0EY
USD Shrugs Off Trump's Troubles, But For How Long?

USD Shrugs Off Trump's Troubles, But For How Long?

2018-08-22 10:00:00
Martin Essex, MSTA, Analyst
Share:

USD price, news and analysis:

  • The US Dollar has so far failed to react much to news that two of Donald Trump’s advisers face jail.
  • Although USD is supported by its safe-haven status, the President’s problems could yet send it lower.

Our trading forecasts for Q3 have been published; you can find the USD guide here.

And check out the IG Client Sentiment data to help you trade profitably.

USD in focus as Trump advisers face prison terms

The US Dollar has weakened only modestly Wednesday despite news that two of US President Donald Trump’s former advisers are facing lengthy prison sentences but its losses could well accelerate despite the currency’s status as a safe haven at times of risk aversion.

Moreover, expectations are not high for the US-China trade talks that resume at a low level in Washington Wednesday even though Tuesday’s record high for the S&P 500 US stock market index suggests that trader sentiment towards US assets remains positive.

Moreover, a breakthrough in the talks between the US and Mexico on the North American Free Trade Agreement (NAFTA) has not yet been reached even though Mexico has said they are making “good progress".

Against this background, the US Dollar Basket is falling and even though the decline Wednesday has far been modest there is scope for its losses to accelerate.

US Dollar Basket Price Chart, Daily Timeframe (May 15 – August 22, 2018)

Latest USD price chart.

Chart by IG

In the next few days, USD is likely to be influenced by both the minutes of the latest meeting of the US policy-setting Federal Open Market Committee, due later Wednesday, and by comments by Federal Reserve Chair Jerome Powell at the Jackson Hole central banking symposium Friday.

With analysts expecting another US interest rate increase in September, there is a possibility of disappointment.

US Dollar chart analysis

Meanwhile, the chart above suggests that USD is now trending lower, having fallen from a high of 96.60 on August 15 to its current level close to 94.72 against a basket of other major currencies. For now, the 50-day moving average at 94.64 is providing support but any break through it could lead to further losses to the psychologically important 94 level, where the 100-day moving average also sits.

Resources to help you trade the forex markets

Whether you are a new or an experienced trader, at DailyFX we have many resources to help you: analytical and educational webinars hosted several times per day, trading guides to help you improve your trading performance, and one specifically for those who are new to forex. You can learn how to trade like an expert by reading our guide to the Traits of Successful Traders.

--- Written by Martin Essex, Analyst and Editor

Feel free to contact me via the comments section below, via email at martin.essex@ig.com or on Twitter @MartinSEssex

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

DISCLOSURES

News & Analysis at your fingertips.