Thursday, July 27, 2017 8:06 AM EDT
The US Dollar underperformed in Asian trade as regional investors took their turn to respond to what has been an FOMC policy announcement that the markets have interpreted as dovish. The Australian and New Zealand Dollars duly rose, reveling in support from yield-seeking capital flows as US Treasury yields edged down alongside the greenback.
From here, a quiet European data docket is likely to see traders looking to the US durable goods ordersnumbers for direction cues. An increase of 3.7 percent is expected, the largest in eight months. US economic news-flow has increasingly improved relative to baseline forecasts recently, opening the door for an even rosier result. This seems unlikely alter Fed policy bets as second-quarter GDP figures near however.
A confirmation hearing for Randal Quarles, the Trump administration’s nominee to the Fed’s financial supervision post, may also generate volatility. Mr Quarles’ is generally known to favor a light regulatory touch and comments confirming as much may pass without fireworks. His views on monetary policy might generate a response however since he would have a vote on the FOMC if confirmed.
Asia Session
European Session
** All times listed in GMT. See the full DailyFX economic calendar here.
Disclaimer: DailyFX, the free news and research website of leading forex and CFD broker FXCM, delivers up-to-date analysis of the ...
more
Disclaimer: DailyFX, the free news and research website of leading forex and CFD broker FXCM, delivers up-to-date analysis of the fundamental and technical influences driving the currency and commodity markets. With nine internationally-based analysts publishing over 30 articles and producing 5 video news updates daily, DailyFX offers in-depth coverage of price action, predictions of likely market moves, and exhaustive interpretations of salient economic and political developments. DailyFX is also home to one of the most powerful economic calendars available on the web, complete with advanced sorting capabilities, detailed descriptions of upcoming events on the economic docket, and projections of how economic report data will impact the markets. Combined with the free charts and live rate updates featured on DailyFX, the DailyFX economic calendar is an invaluable resource for traders who heavily rely on the news for their trading strategies. Additionally, DailyFX serves as a portal to one the most vibrant online discussion forums in the forex trading community. Avoiding market noise and the irrelevant personal commentary that plague many forex blogs and forums, the DailyFX Forum has established a reputation as being a place where real traders go to talk about serious trading.
Any opinions, news, research, analyses, prices, or other information contained on dailyfx.com are provided as general market commentary, and does not constitute investment advice. Dailyfx will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
less
How did you like this article? Let us know so we can better customize your reading experience.