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Whattup, forex geeks!

Ready for another round of dollar trading?

Check out the market events you need to pay attention to if you’re planning on trading the Greenback this week!

Closely watched economic reports

  • JOLTS jobs openings (Nov 10, 3:00 pm GMT) to slip from 6.49M to 6.2M
  • Headline CPI (Nov 12, 1:30 pm GMT) to accelerate from 0.2% to 0.3%
  • Core CPI to maintain 0.2% growth in October
  • Initial jobless claims (Nov 12, 1:30 pm GMT) to decline from 751K to 743K
  • Headline and core PPI (Nov 13, 1:30 pm GMT) to slow down from 0.4% to 0.2%?

FOMC member speeches

  • Watch out for more calls for fiscal stimulus as well as remarks over the stability of the transition of leadership and the impact of increased COVID-19 cases on economic recovery
  • Loretta Mester (Nov 9, 6:30 pm GMT) to speak at a virtual fintech conference
  • Robert Kaplan (Nov 10, 5:00 pm GMT) to speak at a webinar
  • Randal Quarles (Nov 10, 7:00 pm GMT) will talk oversight of the SEC in DC
  • Lael Brainard (Nov 10, 10:00 pm GMT) will speak about the Community Reinvestment Act
  • Governor Powell (Nov 12, 4:45 pm GMT) will participate in a panel discussion on central banking

More dollar-selling?

  • Election news will continue to make headlines. Prolonged and/or contested results will lead to uncertainty and likely risk aversion
  • The prospect of gridlock in Congress has so far supported equities and weighed on the dollar
  • Top-tier events from other major economies (U.K. GDP, RBNZ statement, China’s CPI, etc) can inspire intraday volatility among major dollar pairs
  • Progress on a Brexit deal could boost EUR and GBP against USD this week
  • Strict lockdown measures in the European region can limit USD’s losses against its European counterparts

Technical snapshot

  • Bollinger Bands hint at the dollar’s “oversold” conditions against the Kiwi on the daily time frame
  • The dollar is also a hair’s breadth away from seeing the same results against its other counterparts
USD Forex Pairs Bollinger Bands from MarketMilk
USD Forex Pairs Bollinger Bands from MarketMilk
  • SMAs reflect the dollar’s short and long-term bearish trends against ALL of its major counterparts
USD Forex Pairs SMAs from MarketMilk
USD Forex Pairs SMAs from MarketMilk
  • The dollar was most volatile against the comdolls and the pound in the last seven days
USD Forex Pairs Volatility from MarketMilk
USD Forex Pairs Volatility from MarketMilk

Missed last week’s price action? Read USD’s price recap for Nov. 2 – 6!