US Open Note – Dollar back to gains despite calm day; euro steady

Posted on February 8, 2021 at 2:05 pm GMT

Dollar records some gains; US stocks at record highs In a quiet day, the major theme is the inflation expectations in the US that continue to rise. Treasury Secretary Yellen is asking for a larger stimulus package to bring the economy back to full employment. The dollar seems ready to resume its recovery. The US dollar index is moving marginally up, while dollar/yen is approaching the 105.70 level again, hitting the 200-day simple moving average (SMA). In the stock market, an index tracking global bourses met another all-time [..]


US Open Note – Dollar pauses its rally after NFP; oil still up

Posted on February 5, 2021 at 2:05 pm GMT

Dollar steady after NFP report The US dollar lost some ground after the publication of the non-farm payrolls report but is still steady today around 105.50 against the yen, as there’s a good argument that the numbers make a big stimulus package more likely. The US dollar index is moving lower, while US stocks are recording new highs. The US economy added 49K jobs in January, compared to market expectations of a 50K rise and -227K previously, while the unemployment rate declined to 6.3% from 6.7% in the preceding month. US President Joe [..]


US Open Note – Stocks resume gains; oil pushes higher

Posted on February 2, 2021 at 1:59 pm GMT

Dollar, stocks and oil advance even higher One of the main highlights today is the rally in the US dollar, which is still moving higher, near 105.00 versus the Japanese yen. The dollar index is slightly up, while US stocks were re-energized as investors awaited a slew of earnings from corporate America including Exxon Mobil, and Alphabet. The US economy will return to pre-pandemic levels even without another shot of stimulus, announced a study of the Congressional Budget Office. This will endorse the Republicans’ that there is no need for one [..]


US Open Note – Dollar advances higher, euro dips

Posted on February 1, 2021 at 1:56 pm GMT

Next US relief bill still in focus; Dollar and silver surge One of the major highlights of the current week is the effort to pass the next relief bill in the US. Ten Republican Senators have drawn up a $600 billion alternative to President Biden’s $1.9 trillion proposal. The dollar index is 0.32% up today and dollar/yen has a noteworthy upside rally for the fourth day in a row, heading towards 105.00. US stocks reversed higher again while silver surged by 8.62% [..]


Deluge of US data unlikely to excite dollar, but risk tones might – Forex News Preview

Posted on May 27, 2020 at 9:29 am GMT

In America, there’s a flood of data coming up towards the end of the week. Durable goods orders and the weekly jobless claims are due at 12:30 GMT on Thursday, while Friday brings consumption and income numbers ahead of a speech by Fed chief Powell (15:00 GMT). For the dollar though, none of these is likely to have much of an impact. Instead, the reserve currency may be driven mainly by how risk sentiment evolves. Overall, it’s difficult to envision [..]


Nonfarm payrolls: Too early for the real carnage – Forex News Preview

Posted on April 2, 2020 at 8:57 am GMT

The all-important US employment report for March will see the light at 12:30 GMT on Friday, and investors will be anxious to find out exactly how many Americans lost their jobs at the onset of the virus crisis. Alas, since these data were collected in the first half of March, before many of the virus-related shutdowns, they probably won’t reflect much of the devastation in the labor market. As for the dollar, the picture still looks positive amid the market [..]


Dollar rides high ahead of Powell testimony and key data – Forex News Preview

Posted on February 10, 2020 at 4:19 pm GMT

It’s an action-packed week in the States, with Fed chief Jay Powell testifying before Congress on Tuesday (15:00 GMT) and Wednesday, before CPI inflation and retail sales numbers are released on Thursday and Friday respectively, both at 13:30 GMT. If Powell maintains a relatively sanguine tone, that might come as a ‘hawkish’ surprise for a market that’s pricing in one and a half rate cuts by year-end. Overall, the dollar could continue to reign as ‘king’ of the FX market, [..]


Fed to stay on hold, but adopt a more cautious tone? – Forex News Preview

Posted on January 28, 2020 at 4:57 pm GMT

The Federal Reserve is almost certain to keep interest rates unchanged when it wraps up its policy meeting on Wednesday at 19:00 GMT. If there is any change in tone from Chairman Powell and his colleagues, it might be towards a more cautious narrative, which could weigh on the dollar a little. That said, the currency’s overall outlook still seems positive, for a lack of alternatives. US GDP growth data for Q4 are also due out on Thursday, at 13:30 [..]


European Open Preview – US dollar index near highs as Fed week begins

Posted on December 17, 2018 at 8:14 am GMT

US dollar not far from highs as Fed poised to hike later in the week Risk sentiment under pressure from signs of global slowdown Volatile sterling in wait-and-see mode on possible Brexit holiday pause US dollar keeps most of its gains on robust retail sales The US dollar was helped by a buoyant November retail sales report on Friday, which were in contrast to weaker-than-expected data and business surveys out of Europe and China. A strong consumer should help the [..]


US Open Preview – Dollar weakens ahead of US retail sales; oil on the backfoot

Posted on July 16, 2018 at 12:01 pm GMT

Here are the latest developments in global markets: FOREX: The US dollar was trading below the 6-month high of 112.79 today against the Japanese yen, but managed to add some gains to its daily performance (+0.02%) ahead of the release of the US retail sales later in the day. The dollar index, which gauges the greenback’s strength versus six major currencies, moved lower by 0.24%. Pound/dollar rebounded sharply from near the 1.3101 barrier on Friday and drove the price even further to 1.3265 (+0.24%) on Monday. Meanwhile, euro/dollar climbed [..]

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