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
EUR/USD
Bearish
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
Oil - US Crude
Mixed
Wall Street
Mixed
Gold
Bearish
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • The US Dollar will be bracing for a cascade of political risks including the first presidential debate, ongoing stimulus talks, the Supreme Court vacancy against the backdrop of key employment data. Get your #currencies update from @ZabelinDimitri here: https://t.co/quU4MmUjxA https://t.co/jF6ubwRz1P
  • The Indian Rupee may be at risk to the US Dollar as USD/INR attempts to refocus to the upside. This is as the Nifty 50, India’s benchmark stock index, could fall further. Get your $USDINR market update from @ddubrovskyFX here:https://t.co/3wsYlSxd26 https://t.co/PfIVibmqn1
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out: https://t.co/td5WA4hCZC https://t.co/lKvEMf4QRe
  • Weakness in equity markets continued last week as losses built and technical patterns hint further bearishness might be ahead. Get your #equities update from @PeterHanksFX here: https://t.co/GGVrB3r7if https://t.co/HPHUC8EG3o
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here: https://t.co/5uSWKoLkd6 https://t.co/q80wSAoxXP
  • There is a great debate about which type of analysis is better for a trader. Is it better to be a fundamental trader or a technical trader? Find out here: https://t.co/aVAzFypAg1 https://t.co/7mc19Gxrvm
  • #Gold prices succumbed to selling pressure as the US Dollar soared this past week What is #XAUUSD facing these next few days and can these fundamental forces extend its selloff? Check out my outlook here - https://www.dailyfx.com/forex/fundamental/forecast/weekly/chf/2020/09/26/Gold-Price-Outlook-Rising-US-Dollar-Sinks-XAUUSD-Will-Losses-Extend.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/gPhy0KoW3W
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/38gTDnpPbn https://t.co/Xtk5g4JQEB
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here: https://t.co/3Wked6GBOp https://t.co/SsUguHB39W
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here:https://t.co/1oygcFMFNs https://t.co/aD1ZWhTWZp
2 Major FX Event Risks Coming on Wednesday

2 Major FX Event Risks Coming on Wednesday

2013-07-30 16:46:00
Boris Schlossberg, Technical Strategist
Share:

The US dollar shrugged off mixed consumer confidence numbers earlier Tuesday, but with ADP employment data and the FOMC rate decision on Wednesday, volatility may not stay subdued for long.

The US dollar (USD) found some life in late-morning North American trading despite a relatively mixed consumer sentiment number that missed its mark on the headline basis. US consumer confidence for July came in at 80.3 versus 81.3 forecast, with the expectations component printing at 84.7 versus 91.1 the month prior.

The other underlying data was quite good, however, with the present situation component registering a reading of 73.6 versus 68.7, the highest since the pre-crisis levels of 2008. Jobs’ hard-to-get measure also improved to 35.3 versus 37.1, signaling an improvement in the labor market.

Overall, the confidence numbers indicate that consumer sentiment remains relatively positive, as the US economy continues to expand at a steady but unremarkable pace.

The greenback ignored the mixed signals in the report and gathered some momentum after EURUSD once again failed to hold the 1.3300 figure. The pair briefly breached 1.33, but quickly found sellers for the third day in a row.

With key economic data scheduled to start hitting the screens tomorrow, the currency markets remain subdued as traders prepare for the onslaught of news, including the ADP employment report and Federal Open Market Committee (FOMC) meeting and rate decision on Wednesday, both of which could prove highly volatile for the markets.

Earlier, in today’s Asian session, the Australian dollar (AUD) saw a sharp selloff after very weak housing data and ultra-dovish commentary from Reserve Bank of Australia (RBA) Governor Glenn Stevens sent AUDUSD tumbling by more than 150 points.

See also: AUD/USD Suffers Deadly Double Whammy

By Boris Schlossberg of BK Asset Management

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

DISCLOSURES