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
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
Wall Street
Mixed
Gold
Bullish
GBP/USD
Bullish
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
USD/JPY
Bearish
More View more
Graphic Rewind: USD Shows Conviction to the Downside After an ISM Decline

Graphic Rewind: USD Shows Conviction to the Downside After an ISM Decline

2014-01-06 19:33:00
Benjamin Spier, Technical Strategist

Talking Points:

  • US Dollar falls on a surprise ISM decline for December
  • The greenback found a range in London and overnight trading despite the PMI releases

A look back at the past 24 hours of Forex trading using movements in the US Dollar Index:

US Dollar 15-Minute 17:00 01/05 to 12:00 01/06 EST

Graphic_Rewind_USD_Shows_Conviction_to_the_Downside_Following_a_Surprise_ISM_Decline_body_Picture_1.png, Graphic Rewind: USD Shows Conviction to the Downside After an ISM Decline

Want to trade with proprietary strategies developed by FXCM? Find out how here.

The Dow Jones FXCM US Dollar Index is trading slightly lower at the start of the new week, following a disappointing US ISM for services release.

The greenback climbed higher during overnight trading between Sunday and Monday, and the rise was partially due to a decline in Aussie on the disappointing HSBC Chinese PMI for services.

The US Dollar continued to trade in a tight range over the London session, only rising slightly against the Pound on the release of a

worse than expected UK PMI for services.

Finally, the dollar showed some conviction in the NY session. The greenback declined against other Forex majors on the release of a surprise decline in the ISM index for non-manufacturing for December. An improvement in the employment gauge couldn’t stop the greenback losses, which were particularly bad against the Euro and Yen.

New to Forex? Watch this video

Charts created by Benjamin Spier using Marketscope 2.0

-- Written by Benjamin Spier, DailyFX Research. Feedback can be sent to instructor@dailyfx.com .

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

DISCLOSURES