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.

Free Trading Guides
EUR/USD
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
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
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
Gold
Mixed
GBP/USD
Mixed
USD/JPY
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
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.13%, while traders in US 500 are at opposite extremes with 77.35%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/ekCFqINyBa
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Silver: 0.82% Gold: 0.48% Oil - US Crude: -3.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/H5md2j1fC1
  • Gold prices have continued to push higher as expectations have built for global Central Banks to remain very loose and passive with monetary policy for the foreseeable future. Get your $XAUUSD technical analysis from @JStanleyFX here: https://t.co/h5tF3kAZfd https://t.co/oqAjsNXNBY
  • Worth going along to...👍👍👍 #charts #technicalanalysis Click the link below 👇👇👇 https://t.co/At4Kj3vyOK
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.49% 🇯🇵JPY: 0.46% 🇦🇺AUD: 0.39% 🇳🇿NZD: 0.19% 🇨🇦CAD: 0.17% 🇬🇧GBP: -0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/AgsGuOjCpX
  • EU is set to express grave concern over China's recent actions with regard to Hong Kong
  • 🇬🇧 Gfk Consumer Confidence Final Actual: -34 Expected: -34 Previous: -33 https://www.dailyfx.com/economic-calendar#2020-05-29
  • 🇵🇹 GDP Growth Rate YoY Final Actual: -2.3 Expected: -2.4% Previous: 2.2% https://www.dailyfx.com/economic-calendar#2020-05-29
  • 🇵🇹 GDP Growth Rate QoQ Final Actual: -3.8 Expected: -3.9% Previous: 0.7% https://www.dailyfx.com/economic-calendar#2020-05-29
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: US 500: 0.10% Wall Street: 0.01% France 40: -1.00% FTSE 100: -1.11% Germany 30: -1.35% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/PQvHUdi6ES
Video: Dollar Tumbles after Fed Backs Off Hikes, But How Far?

Video: Dollar Tumbles after Fed Backs Off Hikes, But How Far?

2016-03-17 02:15:00
John Kicklighter, Chief Strategist
Share:

Talking Points:

• A hold by the Federal Reserve was expected, the drop in rate forecasts caught more market participants by surprise

• While a 50 bp reduction in the 2016 forecast for policy deflates USD premium, there remains a significant gap

• Risk trends are consolidating for a critical move, commodities are advancing and further rate decisions are ahead

See how retail traders are positioning in the majors using the FXCM SSI readings on DailyFX's sentiment page.

The Fed wouldn't disappoint for volatility, but has it triggered a lasting move from the Dollar and US capital markets? After deliberating for two days, the US central bank decided to hold rates in its 0.25 to 0.50 range as expected. Alone, that would have generated little friction in the markets; but there was much more to weigh in on. Through the policy statement, updated economic forecasts (SEP) and Chairwoman Janet Yellen's press conference; the most decisive update came through the rate projections. From December's 100bps of hikes expected in 2016, the forecast was cut to 50bps. That figure is derisive enough to force the Dollar to tumble, but it still maintains that the Fed expects to hike where all others are holding or pursuing easing programs. So, how far does the Dollar drop after its knee-jerk reaction? Meanwhile, risk trends have edged higher in the multi-week advance; and we are reaching a point where conviction will be found to continue higher or lost to a heavy correction. Other themes to watch include commodities attempting to squeeze further gains and a range of central bank rate decisions ahead that will be more than a little influenced by the majors of the past few weeks. We discuss where this big picture fundamentals meet market movement in today's Trading Video.

See how the DailyFX Analysts' 1Q forecasts for the Dollar, Euro, Pound, Equities and Gold is shaping up well as our favorite 2016 trading opportunities in the DailyFX Trading Guides page.

To receive John’s analysis directly via email, please SIGN UP HERE

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

DISCLOSURES

News & Analysis at your fingertips.