Skip to content
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.

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
More View more
Video: Dollar Break Likely Awaits Fed and GDP, Kiwi Rally Stalls

Video: Dollar Break Likely Awaits Fed and GDP, Kiwi Rally Stalls

John Kicklighter, Chief Strategist

Talking Points:

• The USDollar was forced into a technical breakout pattern, but there wasn't enough to motivate follow through

• With so much event risk next week, traders will likely hold back on major positions until key data crosses

• After its rally on a rate cut, the excess premium on the Kiwi short exposure may have already been exercised

Sign up for a free trial of DailyFX-Plus to have access to Trading Q&A's, educational webinars, updated speculative positioning measures, trading signals and much more!

Pushed into a position to break from tight technical constraints, the Dollar simply trickled below support. For traders, a break means little without follow through; and there is a looming storm cloud with high level event risk scheduled for next week. Looking at the docket after the weekend, there are high profile events like the FOMC rate decision; US, UK, Spain and Austria 2Q GDP; Japanese inflation statistics and much more. These are the kinds of updates that can change market trajectory and pace. In the meantime, tentative moves on themes like the S&P 500 slip - an indication of sentiment - will keep our attention. Discrete moves from data-spurred currencies like the New Zealand Dollar and British Pound will struggle to fight the pensive sentiment in the market. We look at what lies ahead through the end of the week and into next week in today's Trading Video.

Sign up for John’s email distribution list, here.

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

DISCLOSURES