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.

Free Trading Guides
EUR/USD
Mixed
GBP/USD
Bullish
USD/JPY
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
Mixed
Oil - US Crude
Mixed
Bitcoin
Bearish
More View more
Real Time News
  • Asia’s vast and growing importance to the world economy is not yet matched by the presence of a currency trading center to rival the established order. Get your update on market drivers in Asia from @DavidCottleFX here: https://t.co/E2hqoRdO7q https://t.co/dnrAMFK4U2
  • Geopolitical developments send #oil prices soaring or falling. Get your market update from @MartinSEssex here:https://t.co/XVXLyG8vjq #OOTT https://t.co/RMk5Eb5fLU
  • Negative yielding government bonds – What are they telling us? Find out from @nickcawley1 here: https://t.co/F6JuhmrvPT https://t.co/KdpSjQSJ8F
  • #Euro area stocks may be preparing to break the four-month uptrend built around hopes for a US-China trade deal and an orderly #Brexit outcome. Get your market update from @IlyaSpivak here: https://t.co/ujlCJiXLvh https://t.co/INdFtsrTTF
  • What is the top market moving theme for the coming week? I disagree with the majority. '$EURUSD, $GBPUSD and $AUDUSD Top Volatility Candidates With #Fed, #Election, #TradeWar' https://www.dailyfx.com/forex/video/daily_news_report/2019/12/07/EURUSD-GBPUSD-and-AUDUSD-Top-Volatility-Candidates-On-Fed-Election-Trade-War.html?CHID=9&QPID=917719 https://t.co/Q1dbZVN5Us
  • The Australian Dollar was focused on its home country in the past week, but that is likely to change sharply in the days ahead with major global risk events coming up. Get your $AUDUSD market update from @DavidCottleFX here: https://t.co/yZz3hCyVMx https://t.co/1xw1JHwd7l
  • The #Euro broke chart resistance, threatening to challenge the bounds of its longer -term downtrend against the $USD. Bulls may find it premature to celebrate however. Get your market update from @IlyaSpivak here: https://t.co/VfR13llYbW https://t.co/LiWTvIygxc
  • The $USD appears to be stalling against the Singapore Dollar, Malaysian Ringgit, Indonesian Rupiah and Philippine Peso, but technical analysis may still favor USD strength. Get your market update from @ddubrovskyFX here:https://t.co/AZp98MoXKo https://t.co/jgZMUFVGJB
  • The Indian Rupee soared after the Reserve Bank of India surprised with a rate hold. $USDINR may climb as support reinstates the uptrend ahead of Indian CPI and global trade tensions. Get your market update from @ddubrovskyFX here:https://t.co/QEOabsDfMn https://t.co/rqn8Zjrvkv
  • #Gold closed lower after paring early-week gains post-NFP on Friday. But will price finally break support? These are levels that matter on the $XAUUSD weekly chart. Get your $gld technical analysis from @MBForex here: https://t.co/RILBGhLAQZ https://t.co/q5znMUlEQA
US Dollar Awaits Trump, NZD/USD Volatility Soars, GBP/USD Rangebound  - US Market Open

US Dollar Awaits Trump, NZD/USD Volatility Soars, GBP/USD Rangebound - US Market Open

2019-11-12 14:30:00
Justin McQueen, Analyst
Share:

MARKET DEVELOPMENT –US Dollar Awaits Trump, NZD/USD Volatility Soars, GBP/USD Rangebound

DailyFX 2019 FX Trading Forecasts

USD: The greenback is on the front-foot as market participants await President Trump’s statement on US trade policy at the Economic Club in New York at 1700GMT. Ahead of the speech, reports from Politico have highlighted that the President is set to delay auto-tariffs on the EU by another 6-months, while Morning Money source reports have also noted that Trump will provide a constructive statement on China.

GBP: UK employment growth continued to show signs of slowing down after the headline figure posted a contraction of 58k. While this may be better than the 94k contraction, the trend will likely provide concerns for the BoE and embolden the views of both Saunders and Haskell who called for a 25bps cut last week. That said, the drop in employment growth had been attributed to the fall in part-time workers, while on a more positive note, the unemployment rate edged lower to 3.8% from 3.9%. Nonetheless, price action in GBP/USD has been relatively calm with the pair continuing to hold a 1.28-1.30 range.

US Dollar Awaits Trump, NZD/USD Volatility Soars, GBP/USD Rangebound  - US Market Open

NZD: Ahead of the RBNZ rate decision, the Kiwi is among the underperformers following a drop in 2yr inflation expectations to 1.8% from 1.86%. Consequently, money market pricing of a 25bps rate cut at the monetary policy meeting jumped to 80%. However, eyes will also be placed on the forward guidance, which is likely to be key to the initial reaction of the decision. Of note, NZD volatility has surged to its highest since May 2019.

US Dollar Awaits Trump, NZD/USD Volatility Soars, GBP/USD Rangebound  - US Market Open

Source: DailyFX, Refinitiv

Economic Calendar (11/11/19)

US Dollar Awaits Trump, NZD/USD Volatility Soars, GBP/USD Rangebound  - US Market Open

Source: DailyFX,

WHAT’S DRIVING MARKETS TODAY

  1. New Zealand Dollar Expected to be Most Volatile Currency Amid RBNZ Rate Outlook” by Justin McQueen, Market Analyst
  2. Crude Oil Technical Analysis - Bullish & Bearish Scenarios to Watch” by Paul Robinson, Currency Strategist
  3. Gold Price Remains Weak But May be Oversold - Technical Analysis” by Mahmoud Alkudsi, Market Analyst

--- 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

News & Analysis at your fingertips.