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
Bullish
Wall Street
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
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency is the fundamental factor that prevails above them all. Learn how interest rates impact currency markets here: https://t.co/ERyiY47G5H https://t.co/05P18DtLbu
  • Join @PaulRobinsonFX 's #webinar at 5:30 AM ET/10:30 AM GMT for insight on London #FX and #CFD trading. Register here: https://t.co/AoM3UvLtcF https://t.co/YUu7Pwos43
  • 🇩🇪 Ifo Business Climate (NOV) Actual: 90.7 Expected: 90.1 Previous: 92.5 https://www.dailyfx.com/economic-calendar#2020-11-24
  • Brush up your knowledge on #tradewars with this tool from DailyFX research briefly outlining trade-war history dating back to the early 1900s here: https://t.co/ZWaL6laTU5 https://t.co/1MAj9f6meB
  • 🇩🇪 Ifo Business Climate (NOV) Actual: 90.7 Expected: 90.1 Previous: 92.7 https://www.dailyfx.com/economic-calendar#2020-11-24
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 93.97%, while traders in NZD/USD are at opposite extremes with 74.26%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/jGEHciMOxY
  • Heads Up:🇩🇪 Ifo Business Climate (NOV) due at 09:00 GMT (15min) Expected: 90.1 Previous: 92.7 https://www.dailyfx.com/economic-calendar#2020-11-24
  • Commodities Update: As of 08:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.90% Gold: -0.56% Silver: -0.56% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/BVI5sIyKr7
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here: https://t.co/5uSWKoLkd6 https://t.co/rouvUq7T9R
  • Forex Update: As of 08:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.90% 🇦🇺AUD: 0.89% 🇨🇦CAD: 0.37% 🇪🇺EUR: 0.25% 🇯🇵JPY: 0.21% 🇨🇭CHF: 0.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/9rLTlEAVAy
Climb in USD Price Losing Momentum

Climb in USD Price Losing Momentum

2018-09-06 08:00:00
Martin Essex, MSTA, Analyst
Share:

USD price, news and analysis:

  • The ascent in the US Dollar Index (DXY) looks to be stalling despite persistent worries about global trade, weak emerging markets and the NAFTA talks between the US and Canada.
  • However, it could well move ahead again as “risk off” sentiment remains the driving market force.

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 Index price pauses for breath

The seemingly inexorable rise in the US Dollar looks to be running out of steam despite continuing market concerns about the US-China trade talks, discussions on a revamped North American Free Trade Agreement (NAFTA) and emerging-market chaos.

However, while USD remains the go-to currency when market sentiment is poor, it will likely resume its ascent after a possible period of consolidation.

USD Index (DXY) Price Chart, Daily Timeframe (June 4 – September 6, 2018)

Latest USD index price chart.

Source: Investing.com

In the news, traders are waiting to hear about a possible escalation of the US-China trade war as a public consultation period on the US administration’s intent to impose tariffs on an additional $200 billion of Chinese goods ends today.

In addition, news is awaited from US-Canada talks on a revamped NAFTA while financial turmoil in Argentina and Turkey remains a worry, as do figures released Thursday showing an unexpected fall in German industrial orders in July.

However, the advance in DXY since a low of 94.43 on August 28 to above 95 currently looks set to resume soon after five days of consolidation. Moreover, trader sentiment data are flashing bearish signals on EURUSD and GBPUSD. The Euro is the principal component of DXY and GBP continues to suffer from a perceived lack of progress so far in the Brexit negotiations between the EU and the UK.

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