something interesting

<  BACK TO Market Analysis

Forex Today:

Forex-today_Powell-punches-dollar_FXPIG

Here is what you need to know on Thursday, December 12:

The US dollar remains on the back foot after Jerome Powell, Chairman of the Federal Reserve, clarified that his personal bar for raising rates is high. He first wants to see significant and persistent inflation before hiking. Earlier, the Fed left rates unchanged as expected and signaled no changes in 2020 via its dot-plot.

Sino-American relations: President Donald Trump is set to meet his trade negotiators today to discuss the next steps ahead of the December 15 deadline to impose new tariffs on China. Recent reports suggest that the world's largest economies have made progress in talks, but that Trump has yet to decide. Some speculate that the president will move forward with tariffs, and that is not priced in by markets.


UK elections: The latest opinion polls are showing a lead of around nine points for the Conservatives over Labour, but in many constituencies the race is tight. The recent YouGov MRP poll has shown a substantial narrowing of the projected Tory majority to 28 seats against 68 in its previous survey. GBP/USD has been hovering above 1.32 as tension is mounting. Rainy weather awaits voters.

EUR/USD is trading at six-week highs around 1.1150, buoyed by USD weakness and ahead of Christine Lagarde's first decision as president of the European Central Bank. Economists expect her to leave policies unchanged after the massive and controversial stimulus from her predecessor Mario Draghi. Recent economic figures have been encouraging but growth remains meager. Lagarde is set to announce a policy review for the first time in a decade.

See ECB Preview: How Lagarde's debut December decision may drive EUR/USD higher, three scenarios

The Swiss National Bank is set to leave its Libor Rate unchanged at -0.75%. The SNB has not altered its rate since removing the EUR/CHF peg in the infamous "SNBomb" in January 2015.

The US producer prices report is set to show moderate rises in November. The Core Consumer Price Index (Core CPI) came out at 2.3% as expected.

USD/CAD is trading below 1.32 ahead of a speech by Stephen Poloz, Governor of the Bank of Canada. Oil prices have stabilized with WTI trading around $59.

Cryptocurrencies have been consolidating losses, with Bitcoin trading above $7,100.

News previews:

  • Swiss rate decision (USD/CHF)
  • ECB decision (EUR/USD)
  • UK elections (GBP/USD)

Source: fxstreet

Here is what you need to know on Thursday, December 12:

The US dollar remains on the back foot after Jerome Powell, Chairman of the Federal Reserve, clarified that his personal bar for raising rates is high. He first wants to see significant and persistent inflation before hiking. Earlier, the Fed left rates unchanged as expected and signaled no changes in 2020 via its dot-plot.

Sino-American relations: President Donald Trump is set to meet his trade negotiators today to discuss the next steps ahead of the December 15 deadline to impose new tariffs on China. Recent reports suggest that the world's largest economies have made progress in talks, but that Trump has yet to decide. Some speculate that the president will move forward with tariffs, and that is not priced in by markets.


UK elections: The latest opinion polls are showing a lead of around nine points for the Conservatives over Labour, but in many constituencies the race is tight. The recent YouGov MRP poll has shown a substantial narrowing of the projected Tory majority to 28 seats against 68 in its previous survey. GBP/USD has been hovering above 1.32 as tension is mounting. Rainy weather awaits voters.

EUR/USD is trading at six-week highs around 1.1150, buoyed by USD weakness and ahead of Christine Lagarde's first decision as president of the European Central Bank. Economists expect her to leave policies unchanged after the massive and controversial stimulus from her predecessor Mario Draghi. Recent economic figures have been encouraging but growth remains meager. Lagarde is set to announce a policy review for the first time in a decade.

See ECB Preview: How Lagarde's debut December decision may drive EUR/USD higher, three scenarios

The Swiss National Bank is set to leave its Libor Rate unchanged at -0.75%. The SNB has not altered its rate since removing the EUR/CHF peg in the infamous "SNBomb" in January 2015.

The US producer prices report is set to show moderate rises in November. The Core Consumer Price Index (Core CPI) came out at 2.3% as expected.

USD/CAD is trading below 1.32 ahead of a speech by Stephen Poloz, Governor of the Bank of Canada. Oil prices have stabilized with WTI trading around $59.

Cryptocurrencies have been consolidating losses, with Bitcoin trading above $7,100.

News previews:

  • Swiss rate decision (USD/CHF)
  • ECB decision (EUR/USD)
  • UK elections (GBP/USD)

Source: fxstreet

lastest Articles

Market Analysis
Forex Today:Dollar retreats as Biden transition kicks off, Yellen is back, data eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead – Let the battles commence
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Treasury-Fed feud confuses markets, Brexit and coronavirus headlines eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold Price Analysis: XAU/USD softer, challenges the $1,850 mark
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar gains ground as lockdown concerns dampen mood, Brexit, jobless claims eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Price Analysis: Keeps targeting the 1.1920 level
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Vaccine optimism fades as covid cases rise, Bitcoin tops $18,000, Brexit eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
BoE's Bailey: QE can prevent an unwarranted tightening in financial conditions
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Forecast: Why the euro can rise in the uptrend channel, shrugging off covid conerns
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: US virus restrictions dampen vaccine-related optimism, retail sales, Brexit eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Breaking: Risk rally picks up steam after Moderna says vaccine is 94.5% effective
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
OPEC's Barkindo: Resurgence of COVID-19 infections hamper oil market recovery
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar drops on vaccine optimism, clearer US political horizon, Brexit eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead – Focus stays on COVID
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Covid concerns dominate Friday the 13th, EZ GDP, US consumer sentiment eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Price Analysis: Further upside now targets 1.1965
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Bitcoin rally accelerates as billionaires flock to the industry
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar drops with yields as markets calm from vaccine euphoria, US politics eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead – What next after election mayhem?
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
US election: Trump campaign to make major announcement in Las Vegas at 1630 GMT
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
BoE: Bailey gives sterling three reasons to rise
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Stocks applaud upcoming election verdict, dollar mixed, Fed, final results awaited
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold climbs to three-day tops, $1900 mark back in sight
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD: Fundamentals continue pointing to the downside and only oversold conditions provide a temporary upside
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Flight to safety continues ahead of US elections, amid surging covid cases
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead – Election Time!
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD to resume the downtrend after the US election – Standard Chartered
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold spikes to two-day tops, inching back closer to $1900 mark
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Fear returns ahead of Halloween amid covid's surge, elections uncertainty
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
ECB Preview: Status quo reduces diminishes the risk of a meaningful move in EUR/USD
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar takes a breather ahead of critical US GDP, covid-clouded ECB decision
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Bitcoin breaks new yearly highs; the road to $15,000 is clear
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Markets licking their wounds from covid-related rout, US data eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Company News
It's Time to Fall Back
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead – The final stretch
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold: 50-DMA at $1924 is the level to beat for the bulls
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD: Fundamental reality disagrees with recent gains
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Foreign intervention in US elections weighs on mood, jobless claims, politics eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Forecast: Overbought, so what? Stimulus hopes blind investors' eyes (for now)
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Markets cheer hopes of US stimulus deal, election polls in focus
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold flirts with the $1,900 level in anticipation of news on the fiscal front
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD: Bulls are in control and eye 1.1795
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar retreats on fresh stimulus hopes, Brexit and coronavirus news eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead – Time running out for Trump
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Forecast: Dead cat bounce could provide sell opportunity, euro faces three headwinds
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar dominates amid stimulus and Brexit uncertainty, ahead of US retail sales
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar finds its feet amid stalled stimulus talks, ahead of US data, EU Summit
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar’s haven demand back in vogue amid stimulus delay, vaccine trial pause
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD Price Forecast: Cautious ahead of key week
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Bitcoin Price Analysis: Three factors why BTC is going to surge
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Yuan slumps on China’s policy move, coronavirus risk downs euro amid light trading
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead – Risk events galore
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD: One more possibility around year-end for testing of 1.20 – Danske Bank
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold looks to the upside ahead of Powell’s speech
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Cautious mood and “sell the fact” after Trump's discharge, stimulus news eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead – Markets hate uncertainty
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Forecast: Euro attacks strong resistance, why this could be a fakeout
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: High hopes for US fiscal stimulus boost sentiment, NFP hints eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar rises after an ugly presidential debate, US data, end-of-month flows eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD now looks to 1.1800 and above – UOB
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
S&P 500: Three critical policy disappointments behind the correction – Morgan Stanley
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Bitcoin's mass adoption passes the point of no return
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar declines on hopes for a US fiscal deal, ahead of presidential debate
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
US Elections: A decisive Democratic victory to hit the USD – Nordea
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold: Bearish pressures mounting
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar bulls take a breather amid an upbeat start to a Big week
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead – Let the debates begin!
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Bitcoin Price Prediction: BTC slips into “Buy the Dip” Zone
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold: Eyes on August lows of $1863 ahead of US PMIs and round two Powell
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: US dollar’s haven demand in vogue ahead of a busy day
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold remains on track to test the August low of $1863
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Forecast: Bears now eyeing a sustained break below 1.1700 mark
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar buoyant ahead of Powell, UK PM Johnson’s COBRA meeting eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold Futures: Still room for extra gains
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Forecast: Further consolidation looks likely ahead of Fed speakers
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: US dollar sags amid fiscal overhang, mounting coronavirus risks
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead – No ease up for Powell
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
BOE Quick Analysis: Bailey blasts sterling with specter of negative rates, why more falls are likely
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
ECB’s De Guindos: Euro exchange rate is fundamental for inflation
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Fed drives dollar higher, gold and stocks lower, BOE, jobless claims eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold aims $1980 as focus shifts to Wednesday’s FOMC
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD to surge to 1.40 by September-2021 – UBS
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Upbeat Chinese data boosts mood, Boris' bill passes first hurdle, Gold shines
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead – More stimulus on the way?
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
ECB's Lane: Euro's rise dampens inflation outlook
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: King dollar holds the rein amid cautious optimism, eyes on US CPI
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Forecast: Euro set to fall? ECB expectations may be overconfident
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Brexit in deep crisis, vaccine hopes resurface, all eyes on the ECB
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Brent Oil resumes its core bear trend
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
ECB’s Muller: A timely exit from temporary emergency measures is important
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Vaccine trial halt exacerbates risk off mood, Brexit, BOC, and US fiscal talks eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold Price Analysis: XAU/USD drops further and approaches $1,900/oz
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Bitcoin Price Update: BTC bulls ready to strike back once $11,000 is cleared
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Hard-Brexit fears pound the Pound, Dollar bid on US-Sino woes
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD risks deeper pullback as 1.20 peak looks far
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold Price Analysis: Downside appears more compelling while below $1946 – Confluence Detector
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar stabilizes in the NFP aftermath, Oil tumbles amid holiday-thinned trading
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead - Trump Closing the Gap
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Nonfarm Payrolls Preview: Fed’s policy shift to introduce vital noise
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold rebounds from weekly lows, turns neutral around $1945 region
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613