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.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
Real Time News
  • Keppel Corp is seeking to buy Singapore Press Holdings (SPH) for S$2.2 billion following the spin-off of its media assets, and plans to delist and privatize the company - BBG
  • S&P 500 Futures Lift Nikkei 225, Regulatory Risks Hit Chinese Stocks
  • 🇰🇷 Markit Manufacturing PMI (JUL) Actual: 53 Previous: 53.9
  • Heads Up:🇰🇷 Markit Manufacturing PMI (JUL) due at 00:30 GMT (15min) Previous: 53.9
  • 7 out of 11 S&P 500 sectors ended lower, with 58% of the index’s constituents closing in the red. Consumer discretionary (-2.78%), energy (-1.76%) and utilities (-0.87%) were among the worst performers, whereas materials (+0.40%) and real estate (+0.32%) outperformed.
  • Central banks often deem it necessary to intervene in the foreign exchange market to protect the value of their national currency. Learn how central bank intervention can impact your trading here:
  • RT @Yeap_IG: Short introduction to the #Supertrend technical indicator!
  • The Consumer Price Index, better known by the acronym CPI, is an important economic indicator released on a regular basis by major economies to give a timely glimpse into current growth and inflation levels. Learn how to better understand CPI here:
  • *Reminder: Weekly Strategy Webinar tomorrow morning at 8:30am EST on DailyFX!
  • Bitcoin ended a 10 consecutive day advance with yesterday's bearish close - breaking pace only after it overtook the 100-day moving average. That 10-day climb matches the longest bull charge with only two other examples. $BTCUSD
USD Struggles Amid Lackluster Data- Gold Short Trigger on Tap?

USD Struggles Amid Lackluster Data- Gold Short Trigger on Tap?

David Song, Strategist

Talking Points:

- USDOLLAR Struggles as Mixed Data Continues to Drag on Interest Rate Expectations.

- Gold September Rebound Continues to Unravel; Waiting on RSI Trigger.

- NZD/USD Marks Another Failed Attempt to Break 0.6400 Resistance-Zone.

For more updates, sign up for David's e-mail distribution list.

USDOLLAR(Ticker: USDollar):





Daily Change (%)

Daily Range (% of ATR)

DJ-FXCM Dollar Index






USD Struggles Amid Lackluster Data- Gold Short Trigger on Tap?USDOLLAR Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • Dow Jones-FXCM U.S. Dollar struggles to retain the overnight advance amid the ongoing batch of mixed data prints coming out of the economy; may raise the bar for a 2015 rate hike as the Fed remains ‘data dependent.’
  • Even though New York President William Dudley argues that the Federal Open Market Committee (FOMC) remains on course to normalize monetary policy, may continue to see a 9-1 split at the October 28 interest rate decision should the fundamental developments highlight a slower recovery.
  • Break of the opening monthly range continues to favor a bullish outlook for the USDOLLAR, with the next region of interest coming in around 12,162 (April high) to 12,176 (78.6% expansion).

Join DailyFX on Demand for Real-Time SSI Updates!

USD Struggles Amid Lackluster Data- Gold Short Trigger on Tap?


Gold Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • With Gold prices failing to close above $1154 (61.8% retracement) to $1155 (61.8% retracement), the previous metal may continue to give back the advance from earlier this month as it appears to be carving a lower-high on a long-term series; waiting for a break of the bullish momentum in the Relative Strength Index (RSI) for conviction/confirmation.
  • May see global investors continue to treat Gold as a commodity rather than a currency as weak energy prices continue to dampen the outlook for inflation, while the Federal Reserve keeps the 2015 liftoff on the table.
  • DailyFX Speculative Sentiment Index (SSI) shows retail crowd has flipped back to net-long XAU/USD going into the end of September, with the ratio approaching recent extremes as it advances to +1.28, but market participation continues to unwind as open interest stands 18.5% below its monthly average.

Read More:

Price & Time: Key Timing Week For Gold

Gold Rallies Into Critical Resistance Ahead Fed, NFP


NZD/USD Daily Chart
  • Will continue to favor opportunities to sell-bounces in NZD/USD amid the string of failed attempts to close above near-term resistance around 0.6400 (38.2% retracement); may see the range-bound price action give way as risk appetite continues to deteriorate.
  • With the Reserve Bank of New Zealand (RBNZ) keeping the door open to implement additional rate cuts, disappointing developments coming out of China may further dampen the appeal of the kiwi.
  • Will continue to favor the downside targets, with the next region of interest coming in around 0.6160 (161.8% expansion) to 0.6210 (161.8% expansion).

Join DailyFX on Demand for Real-Time SSI Updates Across the Majors!

--- Written by David Song, Currency Analyst

To contact David, e-mail Follow me on Twitter at @DavidJSong.

To be added to David's e-mail distribution list, please follow this link.

Trade Alongsidethe DailyFX Team on DailyFX on Demand

Looking to use the DailyFX Trade Signals LIVE? Check out Mirror Trader.

New to FX? Watch this Video

Join us to discuss the outlook for the major currencies on the DailyFXForums

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