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
Oil - US Crude
Bearish
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
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • #ASEAN currencies (such as SGD, IDR, PHP and MYR) are relatively outperforming the #USD at a stronger pace than the Indian #Rupee vs the Greenback. This is despite notable gains in the MSCI #EmergingMarkets Index. Full $USDINR, #Nifty piece to come later today! https://t.co/n0SlkfnYOV
  • Seasonal factors, oversupply issues and the outbreak of COVID-19 has seen the price of liquefied #naturalgas (LNG) fall to 22-year lows (1.519), with the situation exacerbated by ‘fuller-than-normal’ storage facilities. Get your market update here:https://t.co/VOqfkBQ4aR https://t.co/9gFVefFC3w
  • ⬇️Asia-Pacific Preview⬇️ - Wall Street buoyancy may spill over into Asia as investors shrug at domestic unrest - AUD and #NZD could rise with APAC stocks despite HK risks - #AUDUSD blew past key resistance and may now challenge multi-week swing-high https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2020/06/01/AUD-NZD-May-Rise-With-APAC-Stocks-Ahead-of-RBA-Rate-Decision.html
  • 🇰🇷 GDP Growth Rate YoY Final Actual: 1.4% Previous: 2.3% https://www.dailyfx.com/economic-calendar#2020-06-01
  • 🇰🇷 GDP Growth Rate QoQ Final Actual: -1.3% Previous: 1.3% https://www.dailyfx.com/economic-calendar#2020-06-01
  • 🇳🇿 Building Permits MoM Actual: -6.5% Previous: -21.7% https://www.dailyfx.com/economic-calendar#2020-06-01
  • Trumps says he will deploy military if cities, states won't act. Says he is dispatching 'thousands' of armed soldiers -BBG
  • Trump says he recommended governors deploy National Guard, told them to deploy guard to 'dominate' streets -BBG
  • US President Donald Trump: His first duty is to defend the country, people. Instances of violence 'acts of domestic terror'. Mobilizing civilian, military resources to stop rioting -BBG
  • 🇳🇿 Building Permits MoM Actual: -6.5% Previous: -21.3% https://www.dailyfx.com/economic-calendar#2020-06-01
Video: Fed Unchained the Dollar, Watching for Risk Catalysts

Video: Fed Unchained the Dollar, Watching for Risk Catalysts

2016-05-21 00:35:00
John Kicklighter, Chief Strategist
Share:

Talking Points:

  • The FOMC minutes this past week finally cracked a rigid sense of skepticism over the Fed's intentions
  • Both the Pound and Aussie Dollar have lost fundamental traction, but speculative appetites may compensate
  • Risk trends from the G-7 meeting to USDJPY pressure on for Yen crosses to the S&P 500 will remain top of the mind

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

The Dollar may not have thrown in its full commitment to a prevailing trend, but the Fed certainly unshackled its mooring to fundamental neutrality. The minutes this past week finally forced a break in the market's seemingly impenetrable rate skepticism and helped forge a crucial technical break. While momentum was not in ready supply after resistance was overtaken, their is a notable levity behind the Greenback moving forward in that the market will more readily respond to hawkish commentary that genuinely bolsters the case for a June rate hike.

Elsewhere, key movers in the Australian Dollar and British Pound have spent their concentrated fundamental event risk; and momentum will prove more difficult to supply. A Aussie retreat among pairs like AUD/USD, GBP/AUD and EUR/AUD will depend more on speculative whiles rather than fundamental conviction. However, that does not diminish the general technical appeal found in many of the crosses.

Thematically, risk trends will be as pressing as US rate speculation with crucial technical patterns on tap for the S&P 500 and USD/JPY (carry). Scheduled event risk is notably lighter; but the G-7 meeting, Fed speak, Japanese CPI and BoC rate decision are top listings. We prepare for the week ahead in this weekend Trading Video.

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.