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
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
Oil - US Crude
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
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
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
GBP/USD
Bearish
USD/JPY
Bearish
More View more
Real Time News
  • 🇲🇽 Mid-month Inflation Rate YoY (JAN) Actual: 3.33% Expected: 3.17% Previous: 3.22% https://www.dailyfx.com/economic-calendar#2021-01-22
  • 🇲🇽 Mid-month Inflation Rate YoY (JAN) Actual: 3.33 Expected: 3.17% Previous: 3.22% https://www.dailyfx.com/economic-calendar#2021-01-22
  • 🇲🇽 Mid-month Inflation Rate MoM (JAN) Actual: 0.51% Expected: 0.34% Previous: 0.34% https://www.dailyfx.com/economic-calendar#2021-01-22
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in EUR/JPY are at opposite extremes with 67.05%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/RmN06yuSM0
  • Heads Up:🇲🇽 Mid-month Inflation Rate MoM (JAN) due at 12:00 GMT (15min) Expected: 0.34% Previous: 0.34% https://www.dailyfx.com/economic-calendar#2021-01-22
  • Heads Up:🇲🇽 Mid-month Inflation Rate YoY (JAN) due at 12:00 GMT (15min) Expected: 3.17% Previous: 3.22% https://www.dailyfx.com/economic-calendar#2021-01-22
  • What is your forex trading style? Take the quiz and find out: https://t.co/YY3ePTpzSI https://t.co/IwX3SFsqVY
  • Commodities Update: As of 11:00, these are your best and worst performers based on the London trading schedule: Gold: -1.19% Silver: -2.46% Oil - US Crude: -2.52% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/fni0enw4eB
  • Forex Update: As of 11:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.08% 🇨🇭CHF: 0.01% 🇯🇵JPY: -0.20% 🇳🇿NZD: -0.52% 🇨🇦CAD: -0.53% 🇦🇺AUD: -0.66% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/ET1uzMrL8i
  • Indices Update: As of 11:00, these are your best and worst performers based on the London trading schedule: US 500: -0.72% Wall Street: -0.81% FTSE 100: -0.85% Germany 30: -0.98% France 40: -1.48% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/wzKgui0V0l
Dow Jones Index Aims Higher Following Fed Chair Powell, Secretary Mnuchin Testimony

Dow Jones Index Aims Higher Following Fed Chair Powell, Secretary Mnuchin Testimony

Thomas Westwater, Contributor

Fed Powell, Secretary Mnuchin, Cares Act, Economy, Dow Jones Index – Talking Points:

  • Fed Chair Powell, and Secretary Mnuchin supplied the first quarterly update on CARES Act
  • US Equity markets rise modestly following Senate testimony
  • Fed Main Street Lending Facility to be operational shortly

Federal Reserve Chairman Powell and Treasury Secretary Mnuchin provided testimony Tuesday morning to the Senate Banking Committee regarding the CARES Act. The testimony is the first quarterly commentary from Powell and Mnuchin, required by the CARES Act. Lawmakers focused in on questioning facilities, particularly, the Main Street Lending Program, and the municipal Liquidity Facility. Dow Jones price action, along with other US equity markets, moved slightly higher following the commentary. Tuesday’s price action follows a strong start to the week for the Dow Jones as it now sits under a 2016 trend line.

Dow Jones Index (1-Min Chart)

Dow Jones Index CARES

Source: IG Charts

Equities Forecast
Equities Forecast
Recommended by Thomas Westwater
Get Your Free Equities Forecast
Get My Guide

Lawmakers also displayed concern with CARES act funding, and the lack of those funds being allocated on time. When pressed, Secretary Mnuchin notes the delay stems from the time it has taken to get the facilities up and running. However, the Treasury Secretary emphasized that he is committed to deploying the remainder of funds. Mnuchin also noted that the Treasury is willing to take on some risks in deploying the existing funds and is prepared to “take losses” with capital used in leveraging those funds.

Recession risks were also harped on during the nearly three-hour virtual testimony. Senators cited troubling economic forecasts when asking Fed Chair Powell on the chances for a recovery, and the potential for a prolonged pullback in economic activity amid the ongoing COVID-19 pandemic. Fed Chair Powell said that we are in an unprecedented event that may require more support. Focusing on unemployment, Chair Powell stated that prolonged periods of unemployment can inflict lasting damage onto the economy. Recent developments on a COVID-19 vaccine from Moderna were cited as encouraging for the economic outlook by Secretary Mnuchin, when asked.

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

DISCLOSURES