Don’t waste your time – keep track of how NFP affects the US dollar!

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Join the Facebook community of FBS!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Email tooltip

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

FBS Mobile Personal Area

FREE

View
US Dollar consolidates after a massive short squeeze

US Dollar consolidates after a massive short squeeze

Information is not investment advice

2021_06_18_09_57_23_sos.pptx_AutoRecovered_PowerPoint.png

EURUSDM30.png

2021_06_18_10_03_35_sos.pptx_AutoRecovered_PowerPoint.png

USDCHFM30.png

Ichimoku Kinko Hyo

EUR/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.

EURJPYM30.png

Fibonacci Levels

 XAG/USD: Silver stands above 50% retracement area. Bearish pressure is growing during the last hours.

XAGUSDDaily.png

 

EU Market View

 Asian shares extended losses for the week, U.S. Treasury yields climbed and the greenback hovered near two-month highs on Friday as investors digested comments from the U.S. Federal Reserve projecting rate hikes in 2023. While the Fed messaging indicated no clear end to supportive policy measures such as bond buying, signals of faster-than-expected rate hikes indicated its concern about inflation as the U.S. economy recovers from the COVID-19 pandemic.

The dollar edged higher in early European trade Friday, continuing to benefit from Wednesday’s surprise move by the Federal Reserve in bringing forward its timetable for raising interest rates. The dollar is still reaping the rewards of the FED the country’s central bank, taking a more hawkish stance than expected and planning for two interest rate increases of 25 basis points in 2023, a year earlier than expected.

This represented an abrupt change from the previous meeting when none of these officials were looking for hikes during that year. Additionally, Fed chief Jerome Powell indicated that the members of the Federal Open Market Committee had begun the conversation on stopping the bank’s massive bond-buying program.

British retail sales fell unexpectedly last month as a lifting of lockdown restrictions encouraged spending in restaurants rather than shops, according to official data. Retail sales fell 1.4% between April and May, the Office for National Statistics said.

The Bank of Japan unveiled a plan on Friday to boost funding for fighting climate change, in a surprise move underscoring the importance of the issue for central banks.

The BOJ also maintained its massive monetary stimulus to support the country's economic recovery and extended a deadline for asset-buying and loan programmes introduced last year to channel funds to pandemic-hit firms. Japan's central bank said it expects to launch the climate change scheme by the end of this year, and will release a preliminary outline of its plan at its next policy-setting meeting in July.

 

EU Key Point

  • UK May retail sales -1.4% vs +1.5% m/m expecte
  • Germany May PPI +1.5% vs +0.7% m/m expecte
  • Germany reports 1,076 new coronavirus cases, 91 deaths in latest update today.
  • Next week will bring the Bank of England monetary policy meeting.
  • BOJ announce no change to main monetary policy planks, as expected. Pandemic relief program extended.

Similar

How will ECB Drive EUR?

What will happen? The European Central Bank will present the monetary policy statement on June 22…

USD/CAD Reversal Pattern

After a notable rally all the way to 1.28, USD/CAD dropped back to 1.2730 yesterday, confirming our outlook mentioned a few days ago about the need for a downside retracement before the upside trend resumes.

Popular

New Trend in Tech Stocks?

When Twitter Inc. and Snap Inc. posted quarterly revenue that blew past analysts’ expectations, the results bumped up the shares of the two of their larger rivals: Facebook Inc. and Alphabet Inc.

EUR/USD Holding After ECB Decision

EUR/USD managed to rise for a very short period of time right after the ECB decision to as high as 1.1798 before declining and giving away its entire gains.

Choose your payment system

Learn more

Callback

Please fill in the form below so we can contact you

Select the best time for us to call you. We give calls from Monday to Friday in suggested intervals. In case we couldn't get through, we will try again at the same time the next day. For getting real-time assistance, use FBS chat.

We provide only English-speaking callbacks. If you prefer any other languages, contact the support team.

We will call you at the time interval that you chose

Change number

Your request is accepted.

We will call you at the time interval that you chose

Next callback request for this phone number will be available in 00:30:00

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later