US Dollar Corrects Higher, Wells Fargo Earnings on Tap

January 11, 2013

 The US Dollar corrected higher – rising against all of its leading counterparts – as prices corrected after yesterday’s aggressive selloff. The greenback fell 0.6 percent, marking the largest single-day drop in close to four months, as risk appetite swelled in the wake of better-than-expected Chinese trade figures. The New Zealand Dollar underperformed.

The economic calendar is quiet in European hours. Swiss CPI is expected to fall 0.3 percent year-on-year in December, marking a narrow improvement from November but keeping deflation concerns alive. On balance, this represents the status quo and is unlikely to drive significant changes in forex traders’ outlook for SNB policy. A narrow improvement in UK Industrial Production will probably pass with little fanfare.

S&P 500 index futures are trading flat, offering no clear bearing on risk appetite trends for the time being. The US data docket is likewise lackluster, turning traders’ attention to the earnings calendar. Wells Fargo is due to report fourth-quarter results and the markets will be keen to gauge the bank’s guidance to inform their outlook for global financial conditions.


Publication source
FXCM information  FXCM reviews

January 20, 2017
Cautious EURUSD Ahead of ECB Press Conference
USD, and the US government bond yields, surged last night following Fed president Janet Yellen’s speech to the Commonwealth Club in San Francisco...
January 19, 2017
Is equilibrium out of reach?
Let’s check what’s going on with Oil before turning our attention to the Russian Ruble. “Black gold” is forming a reversal pattern next to the key level of 52.10. The only matter is that this pattern is above the horizontal level, but the 52.10 level can potentially become the neckline of our pattern...
January 18, 2017
Trump Inauguration Market Outlook
Friday, January 20, 2017 will mark the historic inauguration of what promises to be a highly unconventional US presidential administration...

XM Rating Rating
Fort Financial Services Rating
FxPro Rating
FIBO Group Rating
HotForex Rating

TopOption Rating
Binary Brokerz Rating
TropicalTrade Rating
24option Rating
IQ Option Rating
OptionTrade Rating