News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Mixed
Wall Street
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bullish
GBP/USD
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.31% 🇳🇿NZD: 0.27% 🇦🇺AUD: 0.24% 🇯🇵JPY: 0.05% 🇨🇦CAD: 0.00% 🇨🇭CHF: -0.13% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/qhfolQdLUG
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.43% US 500: -0.70% France 40: -1.89% FTSE 100: -2.07% Germany 30: -2.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/HjUzIke5gV
  • ZEW economic sentiment soars in May. #zew #euro #eurusd @DailyFX https://t.co/jEIeoeotgq
  • 💶 ZEW Economic Sentiment Index (MAY) Actual: 84 Previous: 66.3 https://www.dailyfx.com/economic-calendar#2021-05-11
  • 🇩🇪 ZEW Current Conditions (MAY) Actual: -40.1 Expected: -41.3 Previous: -48.8 https://www.dailyfx.com/economic-calendar#2021-05-11
  • 🇩🇪 ZEW Economic Sentiment Index (MAY) Actual: 84.4 Expected: 72 Previous: 70.7 https://www.dailyfx.com/economic-calendar#2021-05-11
  • Heads Up:🇩🇪 ZEW Current Conditions (MAY) due at 09:00 GMT (15min) Expected: -41.6 Previous: -48.8 https://www.dailyfx.com/economic-calendar#2021-05-11
  • Heads Up:🇩🇪 ZEW Economic Sentiment Index (MAY) due at 09:00 GMT (15min) Expected: 72 Previous: 70.7 https://www.dailyfx.com/economic-calendar#2021-05-11
  • Heads Up:💶 ZEW Economic Sentiment Index (MAY) due at 09:00 GMT (15min) Previous: 66.3 https://www.dailyfx.com/economic-calendar#2021-05-11
  • Why financial market traders must monitor both monetary and fiscal policy? Find out from @MartinSEssex here: https://t.co/Fkzk88Y5gm https://t.co/scmBUQRLD7
Top 5 Events: February US Durable Goods & USDJPY Price Outlook

Top 5 Events: February US Durable Goods & USDJPY Price Outlook

Christopher Vecchio, CFA, Senior Strategist

Talking Points:

- The preliminary February US Durable Goods Orders report is due out on Tuesday at 12:30 GMT.

- Q1’19 US GDP expectations continue to rebound after bottoming out at 0.2% in the second week of March; the Atlanta Fed GDPNow estimate is up to 2.1%.

- Retail traders continue to fade US Dollar gains.

Join me on Mondays at 7:30 EDT/11:30 GMT for the FX Week Ahead webinar, where we discuss top event risk over the coming days and strategies for trading FX markets around the events listed below.

04/02 TUESDAY | 12:30 GMT | USD Durable Goods Orders (FEB P)

Durable Goods Orders are an important barometer for US consumption, which constitutes roughly 70% of GDP. Typically, consumers hold off on buying durable goods during poor economy conditions; thus, improved orders suggest confidence among American consumers with respect to their future financial security. The preliminary February print is expected to show a drop of -1.2% over the prior month after the 0.3% increase in February.

atlanta fed gdpnow

The data may dent the rebound in US growth expectations seen in recent weeks. Based on the data received thus far about Q1’19, the Atlanta Fed GDPNow forecast is looking for growth at 2.1% after hitting a low of 0.2% in the second week of March. The next update to the Q1’19 forecast will be released after Tuesday’s US economic data.

Pairs to Watch: DXY Index, EURUSD, USDJPY, Gold

USDJPY Price Chart: Daily Timeframe (December 2018 to April 2019)

usdjpy price chart

The break of the uptrend from the post-Yen flash crash low found little follow through to the downside last week, bottoming out on March 25 at 109.71. Since then, price action has been constructive, and now the downtrend from the March swing highs is under pressure. A break higher out of the downtrend would eye the March 20 bearish outside engulfing bar high at 111.69; a break down through the low at 110.80, established by the gap open at the start of the week, would suggest losses could accelerate back towards the March low.

Read more: Top 5 Events: April RBA Meeting & AUDUSD Price Outlook

FX TRADING RESOURCES

Whether you are a new or experienced trader, DailyFX has multiple resources available to help you: an indicator for monitoring trader sentiment; quarterly trading forecasts; analytical and educational webinars held daily; trading guides to help you improve trading performance, and even one for those who are new to FX trading.

--- Written by Christopher Vecchio, CFA, Senior Currency Strategist

To contact Christopher, email him at cvecchio@dailyfx.com

Follow him in the DailyFX Real Time News feed and Twitter at @CVecchioFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES