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
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
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
Bullish
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • The Japanese Yen responded to a key technical barrier last week with and leaves the bears vulnerable early in the month. Get your $USDJPY technical analysis from @MBForex here: https://t.co/ijElJvmHyn https://t.co/Xv7pVMQ6h4
  • Trump to announce 10% tariff on Canadian Aluminum - BBG
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Silver: 5.25% Gold: 0.99% Oil - US Crude: 0.33% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/gpka4HBCay
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.03%, while traders in US 500 are at opposite extremes with 76.79%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/FfFR6kxBCO
  • Ahead of the RBNZ rate decision next week, the New Zealand Dollar has struggled to climb higher against its major counterparts, with the exception of the US Dollar. Get your market update from @JMcQueenFX here:https://t.co/iZxV2qSVrw https://t.co/CGE3WeJ3Yl
  • U.S. State Department lifts travel advisory for all international travel - BBG
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: US 500: 0.21% Wall Street: 0.20% France 40: 0.10% Germany 30: 0.06% FTSE 100: 0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/uCGMUoQfxx
  • Senator Collins 'still optimistic' on stimulus deal - BBG
  • Update on #Cryptocurrencies #BITCOIN +1.33% #BITCOINCASH +5.60% #ETHEREUM -0.07% #RIPPLE +1.08% #LITECOIN +1.63%
  • https://t.co/A8Ywz4dGqr
US Dollar Daily Volatility Report: EUR/USD & USD/CAD Eye Jobs Data

US Dollar Daily Volatility Report: EUR/USD & USD/CAD Eye Jobs Data

2019-09-05 22:03:00
Rich Dvorak, Analyst
Share:

US DOLLAR CURRENCY VOLATILITY: USD PRICE ACTION EYES AUGUST JOBS REPORT

  • EURUSD currency volatility takes the spotlight with the August US Jobs Report slated for release Friday at 12:30 GMT
  • US Dollar price action could be headed for a bullish reversal which might be sparked by another robust NFP data print
  • Check out this week’s US Dollar Technical Forecast for additional USD price outlook

US Dollar price action over the last 24-hours has gyrated and left the DXY Index – a popular basket of major USD currency pairs – roughly unchanged. Looking at the charts, however, the DXY Index appears to have printed a dragonfly doji, which is a candlestick pattern that can indicate a technical reversal may lurk ahead.

US DOLLAR INDEX PRICE CHART: DAILY TIME FRAME (MARCH 28, 2019 TO SEPTEMBER 05, 2019)

DXY Index Price Chart US Dollar Technical Analysis

Chart created by @RichDvorakFX with TradingView

News that the US and China have scheduled trade talks for October drove traders to reassess the extent that the Federal Reserve will provide accommodative monetary policy. Fed rate cut bets were unwound further during Thursday’s trading session following better-than-expected August US services PMI numbers which helped bolster the US Dollar. That said, another solid data print on the US economy with tomorrow’s release of August NFP figures remains an upside risk for the greenback.

US DOLLAR OVERNIGHT IMPLIED VOLATILITY & TRADING RANGES

US Dollar Currency Volatility and Implied Trading Ranges Chart

With the August US Jobs report on deck, forex traders should expect heightened EURUSD price action considering the monthly NFP jobs data release typically sparks forex volatility. In fact, spot EURUSD fluctuates +/- 36 pips on average in response to monthly US nonfarm payrolls employment data, which compares to +/- 4 pips on average otherwise. That said, EURUSD overnight implied volatility of 6.0% and implied move of +/- 35 pips is right in line with historical averages.

Across the board of US Dollar currency pairs, the significant drop in currency volatility owing to the latest influx of US-China trade war optimism is also noteworthy. Additionally, spot USDCAD may be of particular interest throughout Friday trade considering its overnight implied volatility reading is in the top 80th percentile in light of Canada jobs data that will also be reported.

-- Written by Rich Dvorak, Junior Analyst for DailyFX.com

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.

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.