Forex today was all about the dollar. The greenback has extended its gains for the eighth consecutive and there are little signs of a switch up until US data comes back online. Fundamentals stay with the US government possible shutdown, Sino/US trade talks underway in Beijing, and looking to the RBNZ tomorrow following a series of meetings which leaves the Fed ahead of the pack still, fuelling a bid in the dollar. The FX space was drifting in a familiar trajectory with the DXY taking on the 97 handle and albeit capped at the 127.2% Fibo extension. The euro and yen dropped to significant levels as the standout plays overnight. As for yields, the US 10yr treasury yield rose from 2.63% to 2.66%, while 2yr yields rose from 2.46% to 2.49%. Despite the fact that the futures markets continue to price little chance of any further Fed rate hikes in this cycle, with a 15% chance of a cut by December, the dollar remains the same go-to currency as there is little choice elsewhere and US rates are still offering the best return on short term money. Currency action Analysts at Westpac offered a recap of the key moves in the G10 space. “USD fell from 1.1320 to 1.1267 – the lowest since end-Nov. USD/JPY rose from 109.90 to 110.47 – the highest since end-Dec, bolstered by the rise in US treasury yields. AUD/USD fell from 0.7105 in early London trade to 0.7057 in NY (a one month low) amid broad US$ gains. NZD/USD similarly fell from 0.6770 to 0.6727. AUD/NZD ranged sideways between 1.0485 and 1.0505. Sterling was one of the weaker performers over the day, -0.6% to 1.2860. Along with Brexit headlines, GBP/USD dipped on soft data. UK Q4 GDP rose only 0.2%q/q, 1.3%y/y (est. 0.3%q/q) reflecting a sharper decline in business investment (-1.4%q/q).” Key notes from US session: The FTSE 100 ended higher by 0.82% at 7,129.11 as GBP/USD falls 0.6% on growth disappointments Wall Street closed mixed, DJIA bucks the trend again Key events ahead: At 11:30am Syd/8:30am Sing/HK we see both official data on Dec home loan approvals and NAB’s Jan business confidence survey. Analysts at Westpac explained that the NAB survey will be closely watched, after a steep drop in business conditions in the previous report, from +10 to a +2, below long term averages. “Note that the Dec survey was actually conducted the second week of Jan, with today’s Jan survey conducted only about 2 weeks later. If the conditions index doesn’t rebound, it will not augur well for Australia’s growth outlook, since the index is a better match for activity than the confidence index, which was +3 in “Dec.” Both indexes were very strong in 2017 but trended lower in H2 2018.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Newly Appointed EU MP expresses interest in the blockchain technology FX Street 4 years Forex today was all about the dollar. The greenback has extended its gains for the eighth consecutive and there are little signs of a switch up until US data comes back online. Fundamentals stay with the US government possible shutdown, Sino/US trade talks underway in Beijing, and looking to the RBNZ tomorrow following a series of meetings which leaves the Fed ahead of the pack still, fuelling a bid in the dollar. The FX space was drifting in a familiar trajectory with the DXY taking on the 97 handle and albeit capped at the 127.2% Fibo extension. The… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.