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
Bullish
Oil - US Crude
Mixed
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
Bullish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here:https://t.co/1oygcFMFNs https://t.co/p8sZvpya4i
  • 🇲🇽 Unemployment Rate (OCT) Actual: 4.7% Expected: 5% Previous: 5.1% https://www.dailyfx.com/economic-calendar#2020-11-24
  • 🇲🇽 Mid-month Inflation Rate YoY (NOV) Actual: 3.43% Expected: 3.63% Previous: 4.09% https://www.dailyfx.com/economic-calendar#2020-11-24
  • 🇲🇽 Unemployment Rate (OCT) Actual: 4.7 Expected: 5% Previous: 5.1% https://www.dailyfx.com/economic-calendar#2020-11-24
  • 🇲🇽 Mid-month Inflation Rate YoY (NOV) Actual: 3.43 Expected: 3.63% Previous: 4.09% https://www.dailyfx.com/economic-calendar#2020-11-24
  • 🇲🇽 Mid-month Inflation Rate MoM (NOV) Actual: 0.04% Expected: 0.24% Previous: 0.54% https://www.dailyfx.com/economic-calendar#2020-11-24
  • GBPCHF remains interesting...all 3 moving averages look positive, with added 50-/200-sdma 'golden cross' being formed, horizontal resistance being probed #sterling #gbpchf @DailyFXTeam https://t.co/Qc3RsDrCnd
  • Heads Up:🇯🇵 BoJ Gov Kuroda Speech due at 12:05 GMT (15min) 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 93.82%, while traders in NZD/USD are at opposite extremes with 74.94%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/5eNiox9C77
  • Heads Up:🇲🇽 Unemployment Rate (OCT) due at 12:00 GMT (15min) Expected: 5% Previous: 5.1% https://www.dailyfx.com/economic-calendar#2020-11-24
USD Bulls Eye Return to 2019 Highs on FOMC Minutes

USD Bulls Eye Return to 2019 Highs on FOMC Minutes

2019-05-22 11:30:00
Justin McQueen, Analyst
Share:

USD Price Analysis and Talking Points:

  • USD Bulls Look to Return to YTD Highs
  • Fed Minutes to Reiterate Patience, Eyes on Inflation Views

See our quarterly USD forecast to learn what will drive prices throughout Q1!

USD Eyes FOMC Minutes

Today’s focus will be on the FOMC minutes from the April monetary policy meeting. As a reminder, the FOMC had cut the IOER by 5bps as expected, while Fed Chair Powell noted that soft inflation had been due to “transitory” factors. Potentially, this was used as a way to cool expectations of a near-term interest rate cut from the Fed. As such, focus will be on the committees view regarding inflation, alongside the trade war tensions. In reaction Chair Powell’s statement on inflation, the USD had edged higher, alongside US bond yields. As such, given how dovish rates markets are priced in for the Fed, risks are for a similar reaction as the Fed look to signal that there is little arguments for a rate cut, which in turn could see a similar reaction with the greenback edging towards YTD highs (97.84).

USD Bulls Eye Return to 2019 Highs on FOMC Minutes

Source: Refinitiv, DailyFX (Fed Rate Expectations)

US Dollar Index Price Chart: Daily Time Frame (Dec 18 – May 19)

USD Bulls Eye Return to 2019 Highs on FOMC Minutes

FX TRADING RESOURCES:

--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at Justin.mcqueen@ig.com

Follow Justin on Twitter @JMcQueenFX

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

DISCLOSURES