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Dollar Traders: Election Speculation, Fed Decision and Risk Fears    

Fundamental Forecast for Dollar:Bearish There is only a 17 percent probability of a November 2nd Fed rate hike, while it stands at 69 percent on December 14th Risk trends and volatile counter currency winds should be monitored closely by Dollar traders See our 4Q forecasts for the US Dollar and market benchmarks on the DailyFX […]

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Brexit Threatens British Pound Reserve Currency Status, Says S&P

Talking Points: S&P affirmed United Kingdom “AA” rating with negative outlook Ratings agency warned Brexit may hurt Pound’s global reserve role GBP/USD little-changed after S&P UK assessment update release The British Pound showed a reserved reaction against its major counterparts after S&P Global Credit Ratings Agency released its United Kingdom survey. The report said Brexit […]

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US Dollar Highest Daily Close Since February

Daily Chart Prepared by Jamie Saettele, CMT DailyFX Trading Guides and Forecasts -The last update noted that “DXY spiked into the channel today before reversing. The response indicates clear overhead and risk is heightened on the long side.” The new closing high today can be attributed to the USD/SEK surge and modest GBP/USD weakness. Sentiments […]

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Canadian Dollar Whipsaws as BoC’s Poloz Clarifies Misunderstanding

Talking Points The Canadian Dollar rallied then stumbled after BOC Governor Stephen Poloz spoke Stephen Poloz said that their best strategy for the time being is to wait for the next 18 months Following the announcement, Poloz clarified that the comment was not aimed at monetary policy Having trouble trading the Canadian Dollar? This may […]

UK Earnings Will Tell Markets How Brexit Effecting Corporate Revenues

Talking Points: Next week companies like GlaxoSmithKline, Lloyds Bank and Barclays will be reporting earnings Companies like Ford and Airbus with major business interest in the UK will also report next week Earnings reports and forward guidance may provide insight into post-Brexit business outlook Check out the DailyFX 4thQuarter British Pound Forecast, HERE It has […]

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US Dollar Trades into Horizontal Level from August 2015 and March

Daily Chart Prepared by Jamie Saettele, CMT DailyFX Trading Guides and Forecasts -Focus remains towards an estimated channel top above 99.00 although I’d be aware of horizontal levels at 98.33/58 as near term roadblocks (NOW). These horizontal levels are defined by the August 2015 and March 2016 highs. There is one interesting tidbit worth mentioning […]

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Will Dow Jones Industrial Average Get Spooked From Hibernation?

Talking Points -Dow Jones Industrial Average hibernates with sideways price action -We are tracking a triangle pattern which likely resolves to the downside -This is a shorter term outlook for DJIA; Download our quarterly forecast for a longer term equities forecast. Since September 12, Dow Jones Industrial Average has gone into hibernation mode with potential […]