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POPULAR NEWS
Gold Posts Third Straight Gain Ahead of Fed Policy Decision

Gold posted a third straight gain before the conclusion of the Federal Reserve meeting where policy makers are widely expected to cut interest rates Wednesday. The Fed meeting comes amid increased volatility in the U.S. money markets that raises the odds for the central bank to expand its balance sheet. From 2008 to 2011, the Fed bought $2.3 trillion of debt, sending gold to a record that year. Bullion prices also advanced as investors weighed the impact of...

Oil Steadies as Saudis Pledge Swift Return of Lost Production

Oil held its decline from the dramatic spike earlier in the week as supply assurances from Saudi Arabia and the International Energy Agency calmed the market after the devastating weekend attacks. West Texas Intermediate crude for October delivery rose 8 cents, or 0.1%, to $58.19 a barrel on the New York Mercantile Exchange as of 10:09 a.m. in Singapore. It dropped 2.1% Wednesday following a 5.7% decline on Tuesday. Brent for November settlement added 6 cents...

U.S. Stocks End Modestly Higher Ahead Of Fed Decision

U.S. stocks finished with modest gains Tuesday, a day ahead of the outcome of a Federal Reserve policy meeting that's expected to deliver a rate cut. The Dow Jones Industrial Average rose around 31 points, or 0.1%, to end near 27,108, according to preliminary figures, while the S&P 500 gained around 8 points, or 0.3%, to close near 3,006. The Nasdaq Composite finished near 8,186, a gain of around 32 points, or 0.4%. Stocks bounced back from modest losses seen a day earlier when oil prices...

Hong Kong Shares Fall For Third Day

Hong Kong stocks finished Wednesday with losses, extending a sell-off to a third day as traders fret over the impact of protests on the city, while they are awaiting a key Federal Reserve policy decision later in the day. The Hang Seng Index eased 0.13 percent, or 36.12 points, to 26,754.12. The benchmark Shanghai Composite Index edged up 0.25 percent, or 7.54 points, to 2,985.66 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, rose 0.26 percent, or 4.26...

U.S. Oil Futures Extend Losses to a Second Session

Oil futures fell on Wednesday, after suffering a loss of nearly 6% a day earlier, pressured as Saudi Arabia's output levels looked to recover much sooner than expected and the U.S. government reported a weekly rise in domestic crude inventories, following four consecutive weeks of declines. Prices briefly pared some of the losses in earlier dealings on the back of rising U.S. tensions with Iran. President Donald Trump announced via Twitter that he ordered Treasury Secretary Steven Mnuchin to...

US Dollar Index advances to weekly highs near 98.20
Thursday, 23 May 2019 12:59 WIB | CURRENCIES | Indeks DolarDolar AS

The greenback, in terms of the US Dollar Index (DXY), is extending the up move beyond the 98.00 barrier, clinching at the same time fresh weekly highs.

US Dollar Index focused on Fedspeak, data

The index is posting gains for the third session in a row on Thursday, always on the back of simmering US-China trade concerns in spite of the absence of fresh news in past days.

The buck also met extra support after the FOMC minutes showed the Fed is firmly committed to its ˜patient™ stance, while the Committee did not even mention the probability of rate cuts and considered the lack of traction of consumer prices as transitory. Further out, member reiterated the monetary conditions could be tightened further in case the economy keeps the forecasted pace.

In the docket, the usual weekly report on the labour market is due seconded by advanced prints of manufacturing and services PMIs and New Home Sales. In addition, Dallas fed R.Kaplan (dovish), San Francisco Fed M.Daly (centrist), Atlanta Fed R.Bostic (centrist) and Richmond Fed T.Barkin (centrist) will participate in a discussion panel. All Fed speakers are non-voters this year.

What to look for around USD

With the US-China trade talks mired in the mud for the time being, investors™ attention have now shifted to the Chinese government and the likeliness of intervention in the Yuan, as the currency slowly approaches the psychological 7.00 mark without any progress in the negotiations, at least in the short-term horizon. On another direction, the FOMC minutes reinforced the ˜patient™ stance from the Federal Reserve and the ˜transitory™ lack of upside momentum in domestic inflation. In addition, the Committee ruled out rate cuts in the next months and left the door open for extra tightening if the economy evolves as planned. The positive outlook on the buck, in the meantime, stays unchanged and sustained by overseas weakness, its safe haven appeal, favourable yield spreads vs. the Fed™s G10 peers and the status of global reserve currency.

US Dollar Index relevant levels

At the moment, the pair is gaining 0.07% at 98.16 and faces the next up barrier at 98.32 (2019 high Apr.25) seconded by 98.97 (78.6% Fibo of the 2017-2018 drop) and finally 99.89 (monthly high May 11 2017). On the other hand, a break below 97.73 (21-day SMA) would open the door for 97.28 (55-day SMA) and then 97.03 (low May 13).

Source: FXStreet

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POPULAR NEWS
Gold Posts Third Straight Gain Ahead of Fed Policy Decision

Gold posted a third straight gain before the conclusion of the Federal Reserve meeting where policy makers are widely expected to cut interest rates Wednesday. The Fed meeting comes amid increased volatility in the U.S. money markets that raises the odds for the central bank to expand its balance sheet. From 2008 to 2011, the Fed bought $2.3 trillion of debt, sending gold to a record that year. Bullion prices also advanced as investors weighed the impact of...

Oil Steadies as Saudis Pledge Swift Return of Lost Production

Oil held its decline from the dramatic spike earlier in the week as supply assurances from Saudi Arabia and the International Energy Agency calmed the market after the devastating weekend attacks. West Texas Intermediate crude for October delivery rose 8 cents, or 0.1%, to $58.19 a barrel on the New York Mercantile Exchange as of 10:09 a.m. in Singapore. It dropped 2.1% Wednesday following a 5.7% decline on Tuesday. Brent for November settlement added 6 cents...

U.S. Stocks End Modestly Higher Ahead Of Fed Decision

U.S. stocks finished with modest gains Tuesday, a day ahead of the outcome of a Federal Reserve policy meeting that's expected to deliver a rate cut. The Dow Jones Industrial Average rose around 31 points, or 0.1%, to end near 27,108, according to preliminary figures, while the S&P 500 gained around 8 points, or 0.3%, to close near 3,006. The Nasdaq Composite finished near 8,186, a gain of around 32 points, or 0.4%. Stocks bounced back from modest losses seen a day earlier when oil prices...

Hong Kong Shares Fall For Third Day

Hong Kong stocks finished Wednesday with losses, extending a sell-off to a third day as traders fret over the impact of protests on the city, while they are awaiting a key Federal Reserve policy decision later in the day. The Hang Seng Index eased 0.13 percent, or 36.12 points, to 26,754.12. The benchmark Shanghai Composite Index edged up 0.25 percent, or 7.54 points, to 2,985.66 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, rose 0.26 percent, or 4.26...

U.S. Oil Futures Extend Losses to a Second Session

Oil futures fell on Wednesday, after suffering a loss of nearly 6% a day earlier, pressured as Saudi Arabia's output levels looked to recover much sooner than expected and the U.S. government reported a weekly rise in domestic crude inventories, following four consecutive weeks of declines. Prices briefly pared some of the losses in earlier dealings on the back of rising U.S. tensions with Iran. President Donald Trump announced via Twitter that he ordered Treasury Secretary Steven Mnuchin to...

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