Forex Today: USD bulls rescued by NY Fed while Gold takes a breather


  • US dollar index offered reprieve by the NY Fed’s clarification on President Willian’s comments.
  • Gold consolidates the rally to 2019 highs.
  • All eyes on trade and geopolitical developments.

Here is what you need to know to start your day on Friday, July 19th, European session: 

- US dollar bounced vs. main competitors after the NY Fed disavowed President Williams’ preventive rate cut comments, Treasury yields looked to stabilize.

- USD/JPY jumped off 107.21 lows, a dead cat bounce amid aggressive July Fed rate cut calls? Japanese CPIs matched estimates.

- Asian equities cheered risk-on. Aussie’s upside capped near 0.7080 amid trade anxiety. Kiwi bulls faced rejection just below 0.68 handle.

- US-China officials discussed trade; Mnuchin eyes possible in-person talks. Japan urged S. Korea envoy to act amid escalating trade row over wartime forced labor.

- UK: The Cable consolidated the recovery amid upbeat UK retail sales data and mounting Hard Brexit risks.

- Oil prices extended the corrective upside after US Navy ship 'destroyed' Iranian drone in Gulf, ignored IEA 2019 oil demand forecast downgrade. Gold pulled back from 2019 highs of $1452.

- Cryptocurrencies consolidated the latest upmove. Bitcoin capped below 11k.

Key events to watch

GMT
Event
Vol.
Actual
Consensus
Previous
Thursday, Jul 18
21:00
 
 
2.5%
23:30
0.6%
0.6%
0.8%
23:30
0.7%
0.7%
0.7%
23:30
0.5%
0.6%
0.5%
23:50
¥950.0B
 
¥297.0B Revised from ¥297.1B
23:50
¥-93.1B
 
¥192.2B
Friday, Jul 19
03:00
6.6%
5.4%
6.7% Revised from 6.6%
04:30
0.3%
-0.2%
0.8% Revised from 0.9%
06:00
1.2%
1.4%
1.9%
06:00
-0.4%
-0.2%
-0.1%
08:00
 
4.9%
7.3%
08:00
 
 
€21B
08:00
 
 
€19.2B
08:30
 
£3.200B
£4.463B
08:30
 
 
€-1.4B
08:30
 
4.9%
4.9%
11:30
 
 
12%
11:30
 
 
$429.91B
12:30
 
0.4%
0.1%
12:30
 
0.3%
0.1%
13:00
 
 
-7
14:00
 
98.5
98.2
15:00
 
 
$-460.1M
15:05
 
 
17:00
 
 
784
19:30
 
 
$17.2K
19:30
 
 
$244.8K
19:30
 
 
390.1K
19:30
 
 
£-73K
19:30
 
 
¥-3.7K
19:30
 
 
€-35.9K
19:30
 
 
$-54K
20:30
 
 
Saturday, Jul 20
24h
 
 
Sunday, Jul 21
24h
 
 
Monday, Jul 22
04:30
 
 
1.8%
04:30
 
 
0
06:00
 
 
-5
06:00
 
 
-0.7%
08:30
 
2.7%
2.8%
09:00
 
 
0.4%
09:00
 
 
3.3%
10:00
 
 
-15
10:00
 
 
2.9%
12:00
 
10.0%
9.9%
12:30
 
 
-0.05
12:30
 
0.2%
1.7%
15:30
 
 
2.115%
15:30
 
 
2.01%
22:30
 
 
Tuesday, Jul 23
05:00
 
 
6.6%
05:00
 
 
0.9
06:00
 
 
5.8
07:00
 
 
57.6
08:00
 
5.3%
5.4%
10:00
 
 
-42%
12:00
 
0.06%
0.06%
12:00
 
0.9%
0.9%
12:15
 
 
12:55
 
 
4.7%
12:55
 
 
1%
13:00
 
 
0.4%
14:00
 
5.35M
5.34M
14:00
 
1.2%
2.5%
14:00
 
 
3
14:00
 
-6.5
-7.2
17:00
 
 
1.695%
20:30
 
 
-1.401M
22:45
 
 
$5.81B
22:45
 
 
$-5.49B
22:45
 
 
$5.54B
22:45
 
 
$264M
Wednesday, Jul 24
00:30
 
49.7
49.3
05:00
 
 
0.9%
05:00
 
 
-0.1%
05:00
 
 
-0.7%
05:00
 
95.2
95.2
05:00
 
103.2
103.2
06:45
 
104
102
07:15
 
50.7
51.9
07:15
 
51.2
52.7
07:15
 
51.5
52.9
07:30
 
52.5
52.6
07:30
 
55.4
55.8
07:30
 
45.4
45.0
08:00
 
4.5%
4.5%
08:00
 
0.35%
0.30%
08:00
 
 
4.7%
08:00
 
4.6%
4.8%
08:00
 
51.8
52.2
08:00
 
48.0
47.6
08:00
 
52.9
53.6
08:30
 
 
42.384K
11:00
 
 
-1.1%
13:00
 
0.08%
0.01%
13:00
 
0.13%
0.16%
13:00
 
 
-4.9
13:45
 
50.4
50.6
13:45
 
51.0
51.5
13:45
 
 
51.5
14:00
 
 
-7.8%
14:00
 
0.650M
0.626M
14:30
 
 
-3.116M
17:00
 
 
1.791%
23:00
 
2.9%
1.7%
23:00
 
0.4%
-0.4%
23:50
 
0.0%
0.8%
23:50
 
 
¥950B
23:50
 
 
¥-93.1B
Thursday, Jul 25
03:05
 
 
06:00
 
 
3.2%
07:00
 
 
102.5
07:00
 
 
77.1%
07:00
 
13.5%
14.7%
07:00
 
 
4.5%
07:00
 
 
93.8
07:30
 
6.5%
6.8%
07:30
 
 
0%
07:30
 
 
3.5%
08:00
 
96.7
97.4
08:00
 
98.7
100.8
08:00
 
95.2
94.2
08:00
 
 
€3.11B
09:30
 
5.8%
6.4%
09:30
 
0.4%
0.5%
11:00
 
22%
24%
11:45
 
-0.4%
-0.4%
11:45
 
0%
0%
12:30
 
 
216K
12:30
 
 
1.686M
12:30
 
 
218.75K
12:30
 
 
0.4%
12:30
 
 
$-75.05B Revised from $-74.55B
12:30
 
0.1%
0.5% Revised from 0.4%
12:30
 
0.5%
-1.3%
12:30
 
 
-0.5% Revised from -0.6%
12:30
 
0.1%
0.4% Revised from 0.3%
12:30
 
 
13:00
 
1.4%
1.6%
13:00
 
 
0.7%
13:30
 
 
$0.662B
14:30
 
 
62B
15:00
 
 
-3
15:30
 
 
2.09%
17:00
 
 
1.889%
19:00
 
 
$1,373M
20:00
 
 
4.25%
21:00
 
 
97.5
23:50
 
1.1%
1.1%
23:50
 
0.9%
0.9%
23:50
 
0.8%
0.8%
Friday, Jul 26
05:00
 
-3.7%
-2.4%
05:00
 
-0.8%
-0.7%

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD loses 1.1800 amid escalaing US-Sino tensions

EUR/USD dips sub-18 after the US reported an increase of 1.763 million jobs in July, better than estimated but pointing to a deceleration. Escalating Sino-American tensions are boosting the dollar and fiscal talks are eyed. 

EUR/USD News

GBP/USD resumes decline, weighed by UK concerns, US-China conflict

GBP/USD trades at fresh weekly lows below 1.3050 as the dollar got a sudden boost from mounting tensions between the world's two largest economies. UK Chancellor Rishi Sunak said the furlough scheme that is underpinning the economy cannot last forever.

GBP/USD News

XAU/USD drops $50 from record highs to the $2020 area

Gold prices are falling sharply on Friday, trading below $2040/oz at the moment. Earlier on Friday, the yellow metal reached at $2075, a new record high.

Gold News

Bitcoin may extend the recovery once Gold resumes the rally

Gold retreated from the recent highs, but the sentiments are still bullish. Cryptocurrencies resumed the upside, some altcoins are demonstrating strong gains. ETH/BTC stopped the downside correction and settled at $0.03300.

Read more

WTI extends slide toward $41, on track to post weekly gains

Crude oil prices continued to fall on Friday and the barrel of West Texas Intermediate (WTI) touched a daily low of $41.05 before recovering modestly.

Oil News

Forex MAJORS

Cryptocurrencies

Signatures