USDX

Daily Market Comment – US funding squeeze haunts Fed ahead of rate decision; dollar slips

Posted on September 18, 2019 at 8:19 am GMT

US short-term rates jump on liquidity shortage in money markets, forcing Fed to step in FOMC decision awaited after market stress prompts speculation of balance sheet action Oil sharply reverses gains after Saudis pledge quick return to full output Calm returns to US money markets The US Federal Reserve carried out its first overnight repo operation since the financial crisis after short-term borrowing costs surged to 10% on Tuesday. The spike was caused by a funding squeeze brought on by [..]

Daily Market Comment – Dollar lifted by upbeat US data; Powell and NFP report coming up next

Posted on September 6, 2019 at 8:25 am GMT

US dollar trims losses after string of upbeat data ease slowdown fears in the US Powell speech and US jobs report awaited for further clues Pound holds onto gains as Johnson battles to trigger a snap election Risk appetite recovers further on strong US data The week looks set to end on a positive tone as the mid-week rebound in risk appetite received an additional boost from robust economic indicators out of the United States yesterday. The US scored a [..]

Daily Market Comment – Stocks mixed as tariffs go up; pound slips as UK MPs return to Brexit chaos

Posted on September 2, 2019 at 8:36 am GMT

Stocks under pressure, safe-havens in demand as new US-China tariffs come into force Weak manufacturing PMIs also weigh on risk sentiment, but China stimulus hopes provide support Pound tumbles as traders brace for a turbulent week in Westminster as Brexit tensions boil Tariffs, growth worries dampen sentiment A new round of tariffs came into effect in the United States and China on Monday as the two countries imposed additional levies on each other’s goods in the never-ending trade war. While [..]

Daily Market Comment – Powell speech awaited as Fed hawks come out; pound jumps on Brexit hopes

Posted on August 23, 2019 at 8:13 am GMT

Markets await Powell’s Jackson Hole speech amid signs of resistance to further rate cuts US dollar holds firm as Treasury yields extend rebound; gold drifts lower Pound swings higher after Merkel and Macron boost Johnson’s chances of backstop changes All eyes on Jackson Hole Traders’ focus will centre on Fed Chairman Jerome Powell today when he makes his key address at the Jackson Hole Economic Symposium at 14:00 GMT. Speculation as to how dovish Powell’s speech will be have intensified [..]

Daily Market Comment – Major pairs steady as markets await Fed minutes and Powell

Posted on August 21, 2019 at 8:19 am GMT

Major pairs hold within recent trading ranges as markets seek direction from the Federal Reserve Trump steps up rhetoric against China, reminding investors that trade war is here to stay Euro unfazed by Italian political crisis, pound see-saws on Brexit backstop headlines Calm in currency markets ahead of key Fed events Major pairs were trading sideways on Wednesday as markets turned cautious ahead of the minutes of the Fed’s July meeting and the upcoming speech by Fed Chairman Jerome Powell [..]

Daily Market Comment – Stimulus hopes lift sentiment; dollar approaches 3-week highs

Posted on August 20, 2019 at 8:25 am GMT

Stocks extend gains as prospect of more stimulus overrides worries about fallout from trade war US dollar edges higher as Treasury yields recover; Fed minutes and Powell speech awaited Aussie firms on RBA minutes; euro struggles amid unease about Italy Global stimulus hopes continue to drive sentiment Growing signs that more governments and central banks around the worlds are taking measures to support their economies remained the main market driver on Tuesday. Most major indices in Asia closed around 1% [..]

Technical Analysis – US Dollar index pushes north again

Posted on August 19, 2019 at 12:57 pm GMT

The US dollar index moved north from the 100-day simple moving average (SMA) as buyers dominated, taking back most of the losses produced from the high of 98.67 on August 1. The price has come to settle above 97.90, which is the 23.6% Fibonacci retracement level of the up-leg from 95.34 to 98.67, and slightly below the May peak of 98.23. The momentum indicators are reflecting a bullish bias as the MACD is ascending again above its red trigger line [..]

Daily Market Comment – Markets steadier but recession fears persist; strong US data lifts dollar

Posted on August 16, 2019 at 8:19 am GMT

Stocks head higher as Trump trade comments and strong US retail sales calm markets But fears of a downturn persist as bond markets remain in dangerous territory Pound up on latest bid by UK opposition parties to thwart no-deal Brexit Stock market sell-off eases on positive headlines Stocks in Asia were mostly positive on Friday and European and US equity futures were also pointing to a firmer start following yesterday’s rebound in risk appetite. Sentiment was boosted from a surprise [..]

Technical Analysis – US dollar index turns south from new multi-month high; halts at the 100-SMA

Posted on August 7, 2019 at 1:16 pm GMT

The US dollar index produced a new twenty-six-month high of 98.67. Sellers took control and logged a correction from the high on August 1 toppling the price to the 97.00 hurdle. The level is the 50.0% Fibo retracement of the up move from 95.34 to 98.67, coupled with the 100-day simple moving average (SMA). The MACD and the RSI are suggesting that a revival of the bullish directional momentum could evolve, as the RSI has rebounded off the 50 level [..]

Daily Market Comment – Dollar lifted by US GDP, eyes Fed and trade talks; pound tumbles on no-deal Brexit risk

Posted on July 29, 2019 at 8:13 am GMT

US dollar at 2-month peak on US GDP beat, doubts about aggressive Fed easing cycle Cautious start to big week for central banks and US-China trade talks Pound tumbles to 28-month low as new UK PM sets ground for no-deal Brexit Dollar holds firm ahead of Fed The US dollar held onto Friday’s gains at the start of the trading week following the boost from better-than-expected US growth figures for the second quarter. The American economy grew by an annualized [..]

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