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
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
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
Gold
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
GBP/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
USD/JPY
Bullish
More View more
Real Time News
  • Heads Up:🇰🇷 Consumer Confidence (SEP) due at 21:00 GMT (15min) Previous: 88.2 https://www.dailyfx.com/economic-calendar#2020-09-24
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 1.86% Gold: 0.31% Oil - US Crude: -0.30% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/KGhOU0JkGg
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.99%, while traders in EUR/GBP are at opposite extremes with 66.51%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/I8ErFM6ptJ
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.20% FTSE 100: 0.16% France 40: 0.13% Wall Street: -0.01% US 500: -0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/ocJM79mXIK
  • Commodities Update: NYM WTI Crude 40.14 (+0.53), ICE Brent Crude 41.75 (-0.05%), NYM NYH Gasoline 119.10 (+0.82%). [delayed]
  • USD/CAD price reverses lower as the US Dollar surrenders recent gains back to the Loonie. Get your $USDCAD market update from @RichDvorakFX here: https://t.co/gikRAF4Kh8 https://t.co/koyX0zf5w3
  • "USD/CAD Price Outlook: Canadian Dollar Recoils at 100-Day MA" Link to Analysis via @DailyFX - https://www.dailyfx.com/forex/market_alert/2020/09/24/usdcad-usd-cad-price-outlook-canadian-dollar-recoils-at-100-day-ma.html $USDCAD $USD $CAD #FX #Forex #Trading https://t.co/g8UDn0Vffs
  • #Oil Price Outlook: #Crude Caught at Resistance- $WTI Breakout Pending - https://t.co/PmOjGYDx97 https://t.co/JeC4TvlA6i
  • Speaker Pelosi aiming for $2.4 trillion in stimulus proposal according to aides - BBG
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Silver: 1.29% Gold: 0.33% Oil - US Crude: -0.23% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/vGkrwaFvt1
US Dollar Soars Before Key Data, Pound May Fall on Soft PMI

US Dollar Soars Before Key Data, Pound May Fall on Soft PMI

2014-10-01 03:27:00
Ilya Spivak, Head Strategist, APAC
Share:

Talking Points:

  • US Dollar Outperforms as Markets Prepare for Key US Economic News-Flow
  • British Pound to Continue Lower if PMI Data Undermines BOE Policy Bets
  • See Economic Releases Directly on Your Charts with the DailyFX News App

The US Dollar outperformed against its leading counterparts in overnight trade, rising as much as 0.3 percent on average to set a new four-year high. The move may reflect pre-positioning ahead of the week’s first batch of high-profile US economic data releases. September’s ISM Manufacturing and ADP Employment figures are on tap.

In trend terms, US economic news-flow has been gradually (if unevenly) improving relative to consensus forecasts since early April. That has fueled speculation that the Fed may opt for a relatively short time gap between the end of QE3 later this month and the first subsequent interest rate hike, building yield-based support for the greenback.

The Australian and New Zealand Dollars bore the brunt of the selloff, falling as much as 0.7 and 0.3 percent respectively. The outsized losses may have reflected the amplifying effects of risk aversion on the sentiment-sensitive currencies. The MSCI Asia Pacific regional benchmark stock index fell 0.1 percent after hitting a four-month low yesterday. We remain short AUDUSD.

September’s UK Manufacturing PMI data headlines the calendar in European hours. A modest acceleration in the pace of factory-sector activity is expected, with the index inching up to 52.7 having registered at a 14-month low of 52.5 in the prior month. UK economic data has turned softer relative to consensus forecasts over the past three weeks, leading front-end Gilt yields lower to signal ebbing BOE tightening bets. More of the same this time around is likely to weigh on the British Pound and we remain short GBPUSD.

New to FX? START HERE!

Asia Session

GMT

CCY

EVENT

ACT

EXP

PREV

23:30

AUD

AiG Performance of Mfg Index (SEP)

46.5

-

47.3

23:50

JPY

Tankan Large All Industry Capex (3Q)

8.6%

7.0%

7.4%

23:50

JPY

Tankan Small Non-Mfg Index (3Q)

0

-1

2

23:50

JPY

Tankan Large Manufacturers Index (3Q)

13

10

12

23:50

JPY

Tankan Non-Mfg Index (3Q)

13

17

19

23:50

JPY

Tankan Large Mfg Outlook (3Q)

13

13

15

23:50

JPY

Tankan Non-Mfg Outlook (3Q)

14

18

19

23:50

JPY

Tankan Small Mfg Outlook (3Q)

0

0

3

23:50

JPY

Tankan Small Mfg Index (3Q)

-1

-2

1

23:50

JPY

Tankan Small Non-Mfg Outlook (3Q)

-1

-2

0

0:00

AUD

RPData/Rismark House Px (MoM) (SEP)

0.1%

-

1.1%

1:00

CNY

China Mfg PMI (SEP)

51.1

51.0

51.1

1:30

AUD

Retail Sales s.a. (MoM) (AUG)

0.1%

0.4%

0.4%

1:35

JPY

Markit/JMMA Japan Mfg PMI (SEP F)

51.7

-

51.7

5:00

JPY

Vehicle Sales (YoY) (SEP)

-

-5.0%

6:30

AUD

RBA Commodity Index (SEP)

-

91.7

6:30

AUD

RBA Commodity Index (YoY) (SEP)

-

-11.5%

European Session

GMT

CCY

EVENT

EXP/ACT

PREV

IMPACT

7:30

CHF

procure.ch Mfg PMI (SEP)

52.0

52.9

Low

7:45

EUR

Markit/ADACI Italy Mfg PMI (SEP)

49.5

49.8

Low

7:50

EUR

Markit France Mfg PMI (SEP F)

48.8

48.8

Low

7:55

EUR

Markit/BME Germany Mfg PMI (SEP F)

50.3

50.3

Low

8:00

EUR

Markit Eurozone Mfg PMI (SEP F)

50.5

50.5

Low

8:30

GBP

Markit UK Mfg PMI s.a. (SEP)

52.7

52.5

Medium

Critical Levels

CCY

Supp 3

Supp 2

Supp 1

Pivot Point

Res 1

Res 2

Res 3

EURUSD

1.2373

1.2504

1.2567

1.2635

1.2698

1.2766

1.2897

GBPUSD

1.5982

1.6102

1.6158

1.6222

1.6278

1.6342

1.6462

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

To receive Ilya's analysis directly via email, please SIGN UP HERE

Contact and follow Ilya on Twitter: @IlyaSpivak

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

DISCLOSURES