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
Oil - US Crude
Bullish
Wall Street
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
Bearish
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • The US Dollar has now slumped after its early morning strength, with the $DXY falling from around 90.80 to currently trade below 90.50. $USD https://t.co/9P6gO3HaZZ
  • GameStop is pushing fresh record highs just north of 480. And yet, the other supercharged shortsqueezes - AMC, BB, BBY, EXPR, etc - are pulling back a little but still very volatility
  • The DAX 30 is struggling to recover from yesterday’s selloff as risk-off sentiment took control of the markets. Get your stock market update from @HathornSabin here: https://t.co/EFVvYy7ypH https://t.co/BjEB5XgGUW
  • Commodities Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Silver: 5.19% Gold: 0.75% Oil - US Crude: 0.75% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/lwGHX3NAJm
  • 🇺🇸 CB Leading Index MoM (DEC) Actual: 0.3% Expected: 0.3% Previous: 0.7% https://www.dailyfx.com/economic-calendar#2021-01-28
  • 🇺🇸 New Home Sales MoM (DEC) Actual: 1.6% Expected: 1.9% Previous: -12.6% https://www.dailyfx.com/economic-calendar#2021-01-28
  • The first look at US GDP in Q4 saw an increase of 4%, printing in line with expectations. However, while adding to the record mechanical increase in Q3. Get your market update from @JMcQueenFX here:https://t.co/65o9MC8Xar https://t.co/AxzROiHqPw
  • 🇺🇸 CB Leading Index MoM (DEC) Actual: 0.3% Expected: 0.3% Previous: 0.6% https://www.dailyfx.com/economic-calendar#2021-01-28
  • Join us for a special #webinar at 11:00 AM EST/16:00 GMT where you can learn how to identify price trends with trader sentiment. Register here: https://t.co/f3KVVN9eyy https://t.co/fNFjQdbLKY
  • 🇺🇸 New Home Sales MoM (DEC) Actual: 1.6 Expected: 1.9% Previous: -11% https://www.dailyfx.com/economic-calendar#2021-01-28
US Dollar Continues Climb amid Emerging Markets Rebound; Yields Up

US Dollar Continues Climb amid Emerging Markets Rebound; Yields Up

Christopher Vecchio, CFA, Senior Strategist

INTRADAY PERFORMANCE UPDATE: 09:55 GMT

MAJORS

AUD

CAD

CHF

EUR

GBP

JPY

NZD

(vs USD)

-0.13%

-0.18%

-0.70%

-0.64%

-0.16%

-0.49%

-0.28%

Dow Jones FXCM Dollar Index (Ticker: USDOLLAR): +0.32% (+0.39%prior 5-days)

ASIA/EUROPE FOREX NEWS WRAP

The US Dollar has emerged as the top performed for the second consecutive day (at the time this report was written) amid cooling fears over emerging markets and potential joint military action by the United States, the United Kingdom, and France against Syria.

Whereas stocks and FX had been largely following the performance of US Treasuries the past two weeks, already the past two days there are signs of this relationship slipping. Indeed, even as the US Dollar has rebounded alongside slightly higher US Treasury yields – the 10-year note yield has increased from a low of 2.720% on Tuesday to 2.780% today – investors aren’t treating the move as a sign the world is ending.

Instead, the rebound in US yields suggests that investors are calming down: nervous market participants scrambled back into US Treasuries to start this week. Today, the slight unwinding of US Treasuries is a function of investors being less worried about keeping their capital safe; not QE3 taper speculation.

It is worth noting that trading today could easily flip from ‘the world isn’t so bad’ to ‘the world is ending’ once more, but this time in a beneficial manner to the US Dollar. The second 2Q’13 US GDP report will be released today, and consensus forecasts see growth having improved to +2.2% annualized versus +1.7% prior.

A ‘meet’ or ‘beat’ of this figure (>+2.2%) would put the US economy right on the Federal Reserve’s forecasted growth track, and could jumpstart ‘Septaper’ speculation. A miss here would likely provoke a retrenchment in US yields, and provoking the Dow Jones FXCM Dollar Index to shed its weekly gains.

USDJPY 5-minute Chart: August 29, 2013 Intraday

US_Dollar_Continues_Climb_amid_Emerging_Markets_Rebound_Yields_Up_body_Picture_1.png, US Dollar Continues Climb amid Emerging Markets Rebound; Yields Up

Taking a look at European credit, tensions easing in emerging markets have helped soothe investor confidence over peripheral debt (though the core remains well-bid). The Italian 2-year note yield has decreased to 1.940% (-3.0-bps) while the Spanish 2-year note yield has decreased to 1.787% (-0.8-bps). Similarly, the Italian 10-year note yield has decreased to 4.351% (-5.3-bps) while the Spanish 10-year note yield has decreased to 4.490% (-2.4-bps); lower yields imply higher prices.

Read more: Global Selling Persists but Yen Eases; Pound Down Before Carney

ECONOMIC CALENDAR – UPCOMING NORTH AMERICAN SESSION

US_Dollar_Continues_Climb_amid_Emerging_Markets_Rebound_Yields_Up_body_x0000_i1028.png, US Dollar Continues Climb amid Emerging Markets Rebound; Yields Up

See the DailyFX Economic Calendar for a full list, timetable, and consensus forecasts for upcoming economic indicators. Want the forecasts to appear right on your charts? Download the DailyFX News App.

--- Written by Christopher Vecchio, Currency Analyst

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com

Follow him on Twitter at @CVecchioFX

To be added to Christopher’s e-mail distribution list, please fill out this form

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

DISCLOSURES