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
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
Bearish
GBP/USD
Bullish
USD/JPY
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
More View more
Real Time News
  • Gold prices appear to have fallen to oversold territory and may look for a technical rebound. An immediate support level can be found at US$ 1,750. https://t.co/kpHCe2aLth
  • Heads Up:🇷🇺 Markit Manufacturing PMI (NOV) due at 06:00 GMT (15min) Previous: 46.9 https://www.dailyfx.com/economic-calendar#2020-12-01
  • I mentioned before, but so far, the average seasonality for the $SPX is aligning to 2020's top months (April then November). This - along with record highs - will likely feed expectations for December: https://www.dailyfx.com/forex/video/daily_news_report/2020/12/01/Dow-and-Dollar-Enter-December-with-Technical-Breaks-and-Temptation-.html https://t.co/5uICTgtHoA
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 94.17%, while traders in NZD/USD are at opposite extremes with 73.77%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/HUeuen6CZW
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.33% 🇳🇿NZD: 0.32% 🇨🇦CAD: 0.31% 🇪🇺EUR: 0.26% 🇨🇭CHF: 0.20% 🇯🇵JPY: -0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/haJtgLdWR1
  • Indices Update: As of 05:00, these are your best and worst performers based on the London trading schedule: US 500: 0.86% Wall Street: 0.81% Germany 30: 0.50% FTSE 100: 0.13% France 40: 0.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/X0IBWDdCcR
  • 🇮🇳 Markit Manufacturing PMI (NOV) Actual: 56.3 Expected: 57.3 Previous: 58.9 https://www.dailyfx.com/economic-calendar#2020-12-01
  • Learn why dividend stocks are favored by investors and why it might be the right choice for you here:https://t.co/VUsJFHBARb https://t.co/bv5Eu2Pnsp
  • Heads Up:🇮🇳 Markit Manufacturing PMI (NOV) due at 05:00 GMT (15min) Expected: 57.3 Previous: 58.9 https://www.dailyfx.com/economic-calendar#2020-12-01
  • Why short stocks? The answer to this question is multi-layered but in general, shorting stocks presents an opportunity trade a decline in a share’s price. Learn more here: https://t.co/2a2evVhhEM https://t.co/6btpCvVTt5
US Dollar News: USD Price Nears 2-Year High; Fed Speak, FOMC Minutes Loom

US Dollar News: USD Price Nears 2-Year High; Fed Speak, FOMC Minutes Loom

2019-05-21 11:45:00
Nick Cawley, Strategist
Share:

US Dollar News: USD Price Analysis and Charts.

  • US dollar bullish run continues, threatening recent highs.
  • Fed speak and FOMC minutes may underpin latest up-tick.

DailyFX Q2 Forecasts and Top 2019 Trading Opportunities.

US Dollar News – Federal Reserve Speeches and FOMC Minutes up Next

The US dollar remains in favor with investors as risk sentiment sours on the US-China trade spat, global growth concerns and Brexit, to name just a few market negatives. Further, while the next move in US interest rates is very likely lower, the US dollar still commands a yield premium over a wide range of other currencies, helping to underpin its value. This is reflected on the daily chart with a continuous series of higher highs and higher lows from January 10 this year.

While boosted by risk concerns, the US dollar (DXY) will likely need a fresh stimulus to break above the April 26 high at 97.84, after which the greenback will back at highs seen in May 2017. Over the next two days, five different Federal Reserve members will be speaking, and their remarks will be needed to be monitored closely for any clues as to the strength, or not, of the US economy and the path of potential interest cuts ahead.

US Dollar News: USD Price Nears 2-Year High; Fed Speak, FOMC Minutes Loom

The DailyFX Calendaris a comprehensive guide to all market moving data releases and events.

Later Wednesday, the FOMC minutes from the May 1 meeting will be released and these will be parsed for any further explanation from Chair Powell on how ‘transitory factors’ are keeping US inflation in check. If the Fed believes that inflation in the US is picking-up towards target, any interest-rate cut may be pushed further down the line until price pressures consistently sit near the 2% target.

The US dollar (DXY) chart has enjoyed a positive run later, six green candles out of the last seven disregarding Sunday’s, and trades above all three moving averages. The May 3 sell-off candle’s high at 97.61 is within reach, which would leave the previously mentioned 97.84 as the short-term target if positive momentum continues. The CCI indicator is currently showing the US dollar in overbought territory.

US Dollar (DXY) Daily Price Chart (August 2018 - May 21, 2019)

US Dollar News: USD Price Nears 2-Year High; Fed Speak, FOMC Minutes Loom

IG Client Sentiment data show how retail traders are positioned in a wide range of asset classes and how daily and weekly sentiment changes can help drive momentum.

--- Written by Nick Cawley, Market Analyst

To contact Nick, email him at nicholas.cawley@ig.com

Follow Nick on Twitter @nickcawley1

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

DISCLOSURES