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. See our updated Privacy Policy here.

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
More View more
Real Time News
  • US API Stock Changes Crude -4.728M Cushing -0.126M Gasoline -6.226M Distillate -1.882M #OOTT $CL_F
  • RT @Nadex: The Macro Setup is back! Tune in as @GuyAdami, @RiskReversal, and special guest @CVecchioFX discuss: -Stocks lower ahead of big…
  • Heads Up:🇰🇷 Consumer Confidence (JUL) due at 21:00 GMT (15min) Previous: 110.3 https://www.dailyfx.com/economic-calendar#2021-07-27
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.32% Gold: 0.11% Silver: -1.89% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/DKG9ZdR1SB
  • Apple Q3 Earnings Summary: Revenues: $81.43 B vs. $73.30 B est. EPS: $1.30 vs. $1.01 est. $AAPL
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 94.03%, while traders in Wall Street are at opposite extremes with 70.86%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/BH99T78609
  • Google Q2 Earnings Summary: Revenues: $61.88 B vs. $56.23 B est. EPS: $27.26 vs. $19.35 est. $GOOG $GOOGL
  • USD/MXN trades cautiously but the Federal Reserve decision on Wednesday could spark volatility. Get your $USDMXN market update from @DColmanFX here:https://t.co/mpbPDzKJGE https://t.co/ZQ7gKz9TN8
  • Did the pre-FOMC drift kick into overdrive? More on this from the @NewYorkFed below: https://t.co/KUhtFCFLRI $SPY $SPX #StockMarket https://t.co/7fegBvVFni
  • Microsoft Q4 Earnings Revenue: $46.15 B vs. $44.26B est. EPS: $2.17 vs. $1.92 est. $MSFT
Graphic Rewind: USD Sets a 3-Week Low Before ISM Drives Index Above Daily Open

Graphic Rewind: USD Sets a 3-Week Low Before ISM Drives Index Above Daily Open

Benjamin Spier, Technical Strategist

Talking Points:

  • US Dollar falls to a 3-week low on ADP Employment change disappointment
  • Greenback temporarily higher following ISM Non-Manufacturing

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

US Dollar 15-Minute 12:00 02/04 to 12:00 02/05 EST

Graphic_Rewind_USD_Sets_a_3-Week_Low_Before_ISM_Drives_Index_Back_Above_Daily_Open_body_Picture_1.png, Graphic Rewind: USD Sets a 3-Week Low Before ISM Drives Index Above Daily Open

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

Despite a decline to a weekly low on weaker jobs data and then a brief jump higher on an improved ISM index, the Dow Jones FXCM Dollar Index is trading near the daily open in Wednesday’ trading.

The dollar traded relatively steady through the Tokyo session and saw a small decline in the first half of the London session despite some Pound losses on a weak PMI release.

Then, the greenback fell at the start of the NY session on a decline in the ADP employment change for January; the dollar index set a new weekly low at 10,658. However, the losses were temporary and the greenback popped as high at 10,690 on an improvement of the ISM for Non-Manufacturing in January.

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