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. See our updated Privacy Policy here.



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
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
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here:
  • Canadian Dollar snapped a three-week losing streak after USD/CAD stalled at key technical resistance. Get your CAD weekly forecast from @MBForex here:
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here:
  • 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:
  • Get your snapshot update of the of top level exchanges and key index performance from around the globe here:
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here:
  • The Nasdaq 100 index is aiming to breach a key resistance level at 14,950 for a second time. A successful attempt may open the door to further gains, although the MACD indicator flags signs of weakness. Get your equities forecast from @margaretyjy here:
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here:
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here:
  • Trading Forex is not a shortcut to instant wealth, excessive leverage can magnify losses, and sentiment is a powerful indicator. Learn about these principles in depth here:
US Dollar Rips Higher on Red-Hot Inflation, CPI at 5.4% in June

US Dollar Rips Higher on Red-Hot Inflation, CPI at 5.4% in June

Rich Dvorak, Analyst


  • US Dollar price action rockets higher as inflation surprises to the upside
  • Headline CPI came in at 5.4% largely driven by soaring used car prices
  • DXY Index 0.5% stronger intraday amid intensified fears of Fed tapering

US Dollar bulls are steering the Greenback sharply higher during Tuesday morning trade. This comes in the wake of higher-than-forecast inflation data just released. The CPI report for June showed annualized headline and core inflation at 5.4% and 4.5%, which topped expectations of 4.9% and 4.0%, respectively.

Another upward surprise to inflation data seems to be fueling strength across USD price action as Fed taper bets ratchet higher. I noted in yesterday’s preview that we would likely see the broader DXY Index spike higher if headline inflation topped 5.0%.


DXY Index Price Chart US Dollar Forecast

Chart by @RichDvorakFX created using TradingView

The broad-based bid beneath the US Dollar has propelled the DXY Index about 0.5% intraday to the 92.65-price level. This is approaching nearside technical resistance posed by a descending trendline and month-to-date highs. That said, the latest CPI report detailed that prices for used cars and trucks accounted for more than one-third of the increase in headline inflation. In fact, the used cars and trucks price index soared 10.5% in June and 45.2% year-over-year.

These were the highest readings on record since CPI data was first collected back in 1953. Other primary categories that contributed to the rise in inflation were transportation services like airline fares, food, apparel, and energy costs. While the hotter-than-expected inflation reading is unsurprisingly fueling an influx of US Dollar strength due to fears of an accelerated Fed taper timeline, the central bank is likely to stick to its transitory narrative. This could see US Dollar bears look for opportunities to fade recent strength.

-- 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.