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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
More View more
Real Time News
  • Long wick candles are recurrent within the forex market. This makes understanding the meaning behind these candles invaluable to any trader to comprehend the market dynamics during a specific period. Learn about the importance of extended wicks here:
  • Safe haven stocks also allow traders to diversify their portfolio and reduce risk. Learn if safe-haven stocks are made for you here:
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here:
  • but the next major point in my view to monitor will be 52.76 - at least in the short term.
  • #Brent having broken above the pre-OPEC drop off at 45.51 is a huge deal considering it failed to crack resistance there in August (leading to the invalidation of "uptrend 2") and the psychological significance of that level
  • The New Zealand Dollar looks poised to extend its push higher against its haven-associated counterparts on robust economic data and a less dovish stance from the RBNZ. Get your $NZD market update from @DanielGMoss here:
  • It seems the markets are riding high, but risk is always lurking around the corner. Consider your escape plan before you find yourself in collapsing market. What are the top havens for different conditions in 2020? Find out from @JohnKicklighter here:
  • The Swiss Franc may continue higher against the US Dollar as technical pressure favors USD/CHF bears..Get your $USDCHF market update from @FxWestwater here:
  • The US Dollar lost ground to most ASEAN currencies as Emerging Market assets climbed despite US economic woes. USD/INR is eyeing third-quarter Indian GDP at the end of the week. Get your market update from @ddubrovskyFX here:
  • The global stock market can be categorized into specific groups or ‘stock market sectors’. Organizing the vast number of stocks in this way helps traders to view assets in a more manageable way. Get your stock market sectors basics here:
USD Price Outlook: US Dollar Slides as Treasury Yields Retreat

USD Price Outlook: US Dollar Slides as Treasury Yields Retreat

2020-11-17 15:17:00
Rich Dvorak, Analyst


  • Sustained US Dollar selling pressure pushes the DXY Index to a critical technical support zone
  • EUR/USD and GBP/USD price action flirting with session highs as USD/JPY extends lower
  • Treasury yields retreating on the back of speculation that the FOMC might need to do more

USD price action is trading notably weaker on Tuesday as measured by the US Dollar Index. The DXY, a basket of major currency pairs heavily weighted toward EUR/USD, GBP/USD and USD/JPY, is down about 0.3% following the New York opening bell. US Dollar selling pressure has mounted over the last few trading sessions and caused the DXY Index to slide back toward a critical technical support level near the 92.00-price level. Breaching this important area of buoyancy has potential to open up the door to additional downside.

Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily -28% 5% -5%
Weekly -15% 12% 5%
What does it mean for price action?
Get My Guide


DXY Index Price Chart US Dollar Forecast Treasury Yields Overlaid

Chart by @RichDvorakFX created using TradingView

One fundamental driver helping keep the broader US Dollar afloat likely includes rising Treasury yields. That said, the ten-year US Treasury yield has declined by about 12-basis points to 0.87% after failing to take out the psychologically-significant 1.00% level last week. In light of surging COVID-19 cases and escalating restrictions on activity, lingering demand for safe-haven assets such as US Treasuries could explain the downward pressure on Treasury yields.

Forex for Beginners
Forex for Beginners
Recommended by Rich Dvorak
Forex for Beginners
Get My Guide

Further, the Federal Reserve has hinted at the possibility of more dovish measures, which poses a headwind to USD price action. Atlanta Fed President Raphael Bostic stated that the FOMC might need to tweak its asset purchase program and provide more monetary support to the economy after worse-than-expected US retail sales data crossed market wires this morning.

This could keep a lid on long-term US Treasury yields and encourage USD bears to maintain selling pressure. Nevertheless, with risk aversion seemingly creeping back into the market, there is potential that the US Dollar finds a bid due to its posturing as a top safe-haven currency. To that end, the US Dollar is currently trading higher relative to the sentiment-linked Australian Dollar.

Trading Forex News: The Strategy
Trading Forex News: The Strategy
Recommended by Rich Dvorak
Trading Forex News: The Strategy
Get My Guide

-- Written by Rich Dvorak, Analyst for

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.