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
EUR/USD
Mixed
Oil - US Crude
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
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
GBP/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
USD/JPY
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
More View more
Real Time News
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here:https://t.co/sR7HqpK8BI https://t.co/Q6WGzHhudp
  • Implementing a trading checklist is a vital part of the trading process because it helps traders to stay disciplined, stick to the trading plan, and builds confidence. Learn how to stick to the plan, stay disciplined, and use a checklist here: https://t.co/2MCG036HGH https://t.co/CbnRsuyRwi
  • #Gold saw its worst performance the past 5 days in 5 months as longer-dated government bond yields in developed countries rose Could this be the beginning of a turning point in #XAUUSD? https://www.dailyfx.com/forex/fundamental/forecast/weekly/chf/2020/08/15/Gold-Price-Outlook-Will-XAUUSD-Brush-off-Worst-Week-in-5-Months.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/x2Indk3b7P
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out: https://t.co/td5WA4hCZC https://t.co/PT09ZsIOCa
  • The US #Dollar may rise, buoyed by haven demand as fiscal stimulus talks stagnate and swelling tensions between Washington and Beijing sink trade talks. Get your #currencies update from @DanielGMoss here: https://t.co/Wcw9PDUr67 https://t.co/gnYZYl6aLV
  • Upside in #CrudeOil struggling ahead of #OPEC meeting. Cartel likely to maintain wait and see approach. Get your #commodities update from @JMcQueenFX here: https://t.co/gNHHKoTUzm https://t.co/eF40DRIBJ5
  • #Gold had some big moves last week, and while vol is expected to die down a bit, it will be important to see if gold can hold its ground in the coming days/weeks. Get your #metals update from @PaulRobinsonFX here: https://t.co/N8a84hRnHN https://t.co/3fjodPHTDm
  • The S&P 500's refusal to hit a record and Dollar's anchor to range this past week is sign of summer liquidity conditions, but the quiet is not insurmountable. 'S&P 500 Record and Dollar Break Look to Stimulus and Trade to Override Seasonality' https://www.dailyfx.com/forex/video/daily_news_report/2020/08/15/SP-500-Record-and-Dollar-Break-Look-to-Stimulus-and-Trade-to-Override-Seasonality-.html https://t.co/mbvPkdQfYl
  • Get your snapshot update of the of relative currency strength and exchange status from around the globe here: https://t.co/DmhBkcMZBK https://t.co/kFk6ccU3Sk
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/aXSB0bG3y0
US Dollar (DXY) Eyes Multi-Month Low But Speculators are Trimming Their Short Positions

US Dollar (DXY) Eyes Multi-Month Low But Speculators are Trimming Their Short Positions

2020-07-09 11:00:00
Nick Cawley, Strategist
Share:

US Dollar Price, News and Analysis:

  • The US dollar sell-off continues, daily chart turns increasingly negative.
  • Short-dated US Treasuries offer wafer-thin returns.
USD Forecast
USD Forecast
Recommended by Nick Cawley
Brand New Q3 US Dollar Guides
Get My Guide

The US dollar sell-off continues and a complete re-trace of the March 9-22 surge may be playing out. The constant printing of US dollars to counteract the effects of COVID-19 continues to weigh on the currency while the one-month to three-year US Treasury yield curve is flat and offers investors little in the way of any return. The yield curve move lower in longer-dated USTs has been helped by Fed officials jawboning about yield curve control – keeping interest rates at or below a specified target – although this recent move lower has eased the pressure on the Fed to set any specific levels for now. A weaker US dollar will please US President Trump and the export sector as they look to exit the economic damage caused by COVID-19.

US Treasury Yields

US Dollar (DXY) Eyes Multi-Month Low But Speculators are Trimming Their Short Positions

US continuing jobless claims (27 June) are released at 13:30 UK today along with initial jobless claims and the 4-week claimant count, both for the week ending 4 July. Both jobless claims numbers are forecast to fall marginally and any deviation from expectations may provoke a reaction in the US dollar.

DailyFX Economic Calendar

The daily US dollar is showing increasing signs of weakness and is building a repeat pattern of the late-March to late-May sideways move before the greenback broke sharply lower. The US dollar basket now trades below all three moving averages, while the 50-dma fell through the 200-dma at the end of last week forming a bearish death cross. There is little in the way of support until the June 10 multi-month low at 95.63, which if broken convincingly would set up the March 9 low at 94.54 as the next target. The CCI indicator shows that the greenback is oversold, suggesting a period of consolidation made be needed before the next move.

The latest CoT report showed that speculators have cut back their bearish US dollar bets and this may temper the ongoing sell-off. The CoT report should be closely watched over the next couple of weeks to see if this move continues or if renewed bearish bets against the US dollar return.

Euro Sentiment Softens, Are US Dollar Bears Heading for the Exit? – CoT Report

US Dollar (DXY) Daily Price Chart (December 2019 – July 9, 2020)

US Dollar (DXY) Eyes Multi-Month Low But Speculators are Trimming Their Short Positions
How to Use IG Client Sentiment in Your Trading
How to Use IG Client Sentiment in Your Trading
Recommended by Nick Cawley
How are Retail Traders Currently Positioned?
Get My Guide

What is your view on the US Dollar – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author via Twitter @nickcawley1.

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

DISCLOSURES

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.