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Daily Financial Market News

Tue, 21 Nov 2017 05:10:00 GMT

Aussie Dollar May Fall Further, Pound at Risk on BOE Testimony

Aussie Dollar May Fall Further, Pound at Risk on BOE Testimony Search DailyFX Home Rates Charts News Market News Real-Time News Daily Briefings Forecast Market Alerts DailyFX Authors Articles Market News Headlines Ethereum Price Rally Stalls Ahead of Key Resistance Targets U.S. Dollar Begins Test of Key Resistance Zone as Bulls Remain Bashful DXY Index Firms Up, but Still Stuck in Range Technical Analysis Analysis Technical Analyst Picks Support & Resistance Daily Technical Reports Pivot Points Sentiment Articles Algorithmic Trading Technical Analysis Headlines DAX Technical Analysis: Trading in Tight Window of Support & Resistance EUR/GBP Technical Analysis: Move Back Below 0.88 Hinted Ahead ASX 200 Technical Analysis: Retreat Finds Support But It Must Hold Calendars Economic Calendar Webinar Calendar Central Bank Rates Dividend Calendar Forex Economic Calendar Time Event Actual Forecast Rates Charts Education Education Beginner Intermediate Advanced Expert Free Trading Guides DAILYFX PLUS × Get the best parts of DailyFX.com in the new DailyFX App Download × Join Us For Our Free Webinars Get daily market analysis from our in-house experts Choose from more than 25 webinars each week Put your questions to our experts in real-time Q&As Register now Want to hold off on improving your trading? Click here to dismiss. × Get Your Free Trading Guides With your broad range of free expert guides, you'll explore: The basics of forex trading and how to develop your startegy Foundational knowledge to help you develop an edge in the market What's ahead for major FX pairs, Gold, Oil and more Download a Free Guide Want to hold off on improving your trading? Click here to dismiss. EUR/USD Low High View More Note: Low and High figures are for the trading day. News U.S. Dollar Begins Test of Key Resistance Zone as Bulls Remain Bashful DailyFX US AM Digest: US Dollar Bobs Back and Forth; Euro Weakens DXY Index Firms Up, but Still Stuck in Range GBP/USD Low High View More Note: Low and High figures are for the trading day. News DXY Index Firms Up, but Still Stuck in Range Asia AM Digest: British Pound Gains on Brexit Breakthrough Hopes GBP/USD Marches Toward Monthly-High (1.3321) Ahead of BoE Testimony USD/JPY Low High View More Note: Low and High figures are for the trading day. 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News Bitcoin Rallys Through $8,200; New Crypto Market Cap Record Bitcoin Soars Then Retreats; Good News Continues Bitcoin Momentum Continues, Hedge Fund Giant Signals Interest View More More Real-Time News Facebook Twitter Youtube Google + Aussie Dollar May Fall Further, Pound at Risk on BOE Testimony by  Ilya Spivak, Sr. Currency Strategist  Fundamental analysis, economic and market themes Connect via: Talking Points: Aussie Dollar may fall further as RBA’s Lowe talks down rate hike prospects British Pound may decline as BOE policymakers defend dovish disposition US Dollar looks to Yellen speech for clues about 2018 tightening trajectory The Australian and New Zealand Dollars underperformed in otherwise quiet Asia Pacific trade. Both currencies managed a recovery yesterday – a move that appeared corrective following last week’s sentiment-driven losses – but sellers appear to have taken that as an opportunity. The Aussie suffered outsized losses after minutes from this month’s RBA policy meeting struck a familiarly dovish tone . The currency may be in for further losses as RBA Governor Philip Lowe takes to the wires (at 9:05 GMT). He will probably stick to a well-worn message, bemoaning the negative impact of Aussie strength and reiterating that tightening elsewhere will not compel the Australian central bank to follow suit. The markets have been surprisingly responsive to such jawboning despite its familiarity however. From there, the spotlight will turn to London as a group of BOE officials including Jon Cunliffe, Ian McCafferty, Michael Sauders and Gertjan Vlieghe testify before Parliament’s Treasury committee on the latest Inflation Report. That might prove negative for the British Pound as policymakers justify a broadly dovish posture despite increasingly above-target inflation. A speech from Fed Chair Janet Yellen is next in focus. She has announced her departure from the US central bank after Governor Jerome Powell passes Congressional confirmation and formally takes the reins in February. That might make for a somewhat more candid outing. The most potent bits for the US Dollar will probably concern the extent to which fiscal policy will shape the pace for tightening in 2018. What do retail traders’ buy/sell decisions hint about on-coming FX market moves? Find out here ! Asia Session European Session ** All times listed in GMT . See the full DailyFX economic calendar here . --- Written by Ilya Spivak, Currency Strategist for DailyFX.com To receive Ilya's analysis directly via email, please SIGN UP HERE Contact and follow Ilya on Twitter: @IlyaSpivak DailyFX provides forex news and technical analysis on the trends that influence the global currency markets. 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