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US Dollar Price Volatility Outlook: Data & Fed Cuts in Focus

US Dollar Price Volatility Outlook: Data & Fed Cuts in Focus

2019-09-04 22:30:00
Rich Dvorak, Analyst
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US DOLLAR CURRENCY VOLATILITY FORECAST – SUMMARY POINTS:

  • USD currency pairs are expected to continue exhibiting heightened price action on balance judging by elevated overnight US Dollar implied volatility measures
  • GBPUSD remains in focus as Brexit drama intensifies while key US economic data on deck highlights EURUSD and USDJPY
  • Check out this week’s US Dollar Price Technical Forecast for additional USD insight

The US Dollar slid considerably during Wednesday’s trading session, which largely erased gains recorded earlier in the week. Although, the move was largely driven by the EURUSD and GBPUSD recovering recent losses owing to better-than-expected Eurozone PMI data and the latest Brexit developments.

DXY INDEX – US DOLLAR PRICE CHART: DAILY TIME FRAME (MARCH 28, 2019 TO SEPTEMBER 04, 2019)

DXY Index Price Chart US Dollar Currency Technical Analysis

Chart created by @RichDvorakFX with TradingView

That said, the DXY Index and US Dollar price action now turns to a swath of high-impact data releases slated for Thursday. The DailyFX Economic Calendar details a comprehensive list of upcoming event risk and economic indicators on deck for release.

US DOLLAR IMPLIED VOLATILITY & TRADING RANGES (OVERNIGHT)

US Dollar Price Volatility Implied Trading Range

Looking at the latest overnight US Dollar implied volatility, USD price action is expected to be higher on balance. EURUSD overnight implied volatility is above its 5-day average but remains in the bottom 50th percentile relative to the last 12-months. USDJPY overnight implied volatility is interestingly below its 5-day moving average and stands out considering August ISM Services Data could spark a sizable reaction in spot prices and broadly dictate market risk appetite tomorrow.

-- Written by Rich Dvorak, Junior Analyst for DailyFX.com

Connect with @RichDvorakFX on Twitter for real-time market insight

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

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