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
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
Bullish
Wall Street
Mixed
Gold
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
GBP/USD
Bullish
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
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
  • President Biden: I have no objections to doing business with Russia, as long as they adhere to international standards $USDRUB
  • @DailyFXTeam #AtLeastItIsntARecord https://t.co/QqHPYZcY6x
  • NY Fed accepts $520.9 billion in reverse repo operations $USD $DXY #FederalReserve
  • Mid-Week Technical Outlook: $USD Majors, #Gold & #Bitcoin- #FOMC Levels - https://t.co/VAV2GDVJhK
  • IG Client Sentiment Update: Our data shows the vast majority of traders in USD/CHF are long at 75.97%, while traders in France 40 are at opposite extremes with 76.91%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/FsFYByWobe
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.51% Silver: 0.28% Gold: 0.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/UmBSp15B4F
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.26% 🇳🇿NZD: 0.24% 🇬🇧GBP: 0.20% 🇯🇵JPY: 0.17% 🇨🇭CHF: -0.07% 🇪🇺EUR: -0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/Rhus0rXhmM
  • Gold Price Forecast: XAU Pullback Ahead of FOMC - GLD Levels https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2021/06/16/Gold-price-forecast-xau-pullback-ahead-of-fomc-gld-gold-gc-levels.html $Gold https://t.co/Mj0i2YvGZl
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: France 40: 0.05% Germany 30: 0.01% FTSE 100: -0.05% Wall Street: -0.07% US 500: -0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/9RcvesS3Sx
  • and Nessun Dorma https://t.co/iyDrAWCik6
Fed, BoE, BoJ or RBA - Which Rate Decision Poses Biggest Threat

Fed, BoE, BoJ or RBA - Which Rate Decision Poses Biggest Threat

John Kicklighter, Chief Strategist

Talking Points:

  • There are four major central banks scheduled to deliberate on monetary policy this coming week
  • The highest profile policy event is the Fed decision, but a risk-sensitive FOMC is very unlikely to alter course
  • In contrast, the Bank of England and Bank of Japan will draw market reaction almost regardless of outcome

See what live coverage is scheduled to cover key event risk for the FX and capital markets on the DailyFX Webinar Calendar.

Monetary policy remains one of the most active drivers in the markets and yet still poses one of the greatest untapped risks for the financial system given the distortion it has contributed to through the years. That makes the collection of central bank rate decisions on tap this week a particularly concentrated threat to an already delicate stability. For preparatory headline space, the Federal Reserve's policy decision on Wednesday (18:00 GMT) will draw the most interest. That said, it is also the event least like to offer a surprise. While the market is very sensitive to what the world's largest policy body is doing and planning, the long-awaited follow up hike to last December's 'liftoff' is very unlikely to come this week. What's more, the market expects that to be the case.

In contrast to the attention and restraint of the Fed, the Bank of England's (BoE) and Bank of Japan's (BoJ) events are going to generate market friction regardless of the outcome. For the former, this is the quarterly event where the comprehensive 'Quarterly Inflation Report' is due. More importantly, 'Brexit' fear has dominated the headlines and spurred considerable volatility for the British Pound. With suggestions of further easing in 2016 at the previous meeting, there are heavy expectations of what will happen and how much influence it will afford. Meanwhile, the BoJ has take a step away from driving its ship through the storm of skepticism and disinflation. The shift in focus to target a 0 percent 10-year JGB yield was akin to waving a white flag, but the market has yet to treat it as such. Their efforts combined with the group's outlook may reinforce this reality.

For the Reserve Bank of Australia's (RBA) gathering, no change is likely. Yet, its balance near neutral can generate a bigger reaction from the local currency than the Fed's would for the Dollar - though there certainly is a bias with the Aussie Dollar's reaction. Another aspect that must not be overlooked in this event is the evaluation of global monetary policy and its sway over global investor sentiment and general market stability. Confidence is visibly starting to slip. Is there a tipping point where it changes from a mere slide to a collapse? We discuss this collective event risk in today's Strategy 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