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.

Free Trading Guides
EUR/USD
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
Oil - US Crude
Bearish
Wall Street
Bullish
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.18% 🇨🇦CAD: 0.17% 🇪🇺EUR: 0.15% 🇯🇵JPY: 0.06% 🇦🇺AUD: 0.06% 🇳🇿NZD: -0.10% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/Tu1NZZUBBo
  • The $USD suddenly seems scarce amid the #coronavirus outbreak. That threatens short-term financing underpinning global supply chains, despite the Fed’s epic efforts. Get your US Dollar market update from @DavidCottleFX here:https://t.co/D2p2Vl2ORK https://t.co/56Iq8CmJ7Z
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Germany 30: 1.33% France 40: 1.21% Wall Street: 0.29% US 500: 0.26% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/zusHPHZgFm
  • Ripple IG Client Sentiment: Our data shows traders are now at their least net-long Ripple since Mar 29 when Ripple traded near 0.16. A contrarian view of crowd sentiment points to Ripple strength. https://www.dailyfx.com/sentiment https://t.co/TnhXuofL8C
  • #Bitcoin prices may see a pickup in volatility ahead of the 2020 halving as the #coronavirus pandemic threatens to disrupt cross-continental $BTC mining operations. Get your market update from @ZabelinDimitri here: https://t.co/BoH24MVf4P https://t.co/c7YqD7VXqc
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 94.72%, while traders in Wall Street are at opposite extremes with 78.06%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/OukR4dIlJc
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.18% Silver: 0.00% Gold: 0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/xivz7ptPMn
  • Hey, traders 👋 do you want live AMAS with our analysts, market updates and tools to improve your trading strategy? Join us now on Instagram! 👉 https://t.co/pHGzVMqsC4 https://t.co/EBCYaTLWGi
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.25% 🇳🇿NZD: 0.18% 🇪🇺EUR: 0.18% 🇨🇭CHF: 0.12% 🇯🇵JPY: 0.11% 🇬🇧GBP: 0.05% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/aM45N7u2eL
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Germany 30: 1.33% France 40: 1.21% Wall Street: 0.29% US 500: 0.26% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/wVfG8eTkn4
Dollar Trim Loss as U.S. Leading Indicators Rose 0.4% in December

Dollar Trim Loss as U.S. Leading Indicators Rose 0.4% in December

2012-01-26 16:43:00
Trang Nguyen,
Share:

THE TAKEAWAY: U.S Leading Indicator Rose 0.4 Percent in December > Better Outlook for U.S. Economy in Coming Months > U.S. Dollar Trim Loss

The U.S. Leading Economic Indicator, a gauge of the economic outlook for the next three to six months, advanced 0.4 percent in December, following a revised 0.2 percent gain in November and 0.6 percent rise in October, the Conference Board reported today. The reading missed median projections of a 0.7 percent gain from 44 economists surveyed by the Bloomberg News.

012612_US_Leading_Indicators_and_New_Home_Sales_December_body_Chart_1.png, Dollar Trim Loss as U.S. Leading Indicators Rose 0.4% in December

Prepared by Trang Nguyen

Eight of ten components made up an increase in the December leading index, led by gain in interest rate spread and improvement in labor market conditions. Interest rate spread rose 0.2 percent in the month that continued its upward trend since the Federal Reserve launched its “Operation Twist” program in September. In the FOMC meeting yesterday, the committee also decided to continue this program that extendsthe average maturity of its Treasury holdings. Jobless claims component improved 0.18 percent and average workweek extended 0.07 percent, reflecting optimism about job market in the months to come. Three components representing for manufacturing climate, including consumer goods orders, ISM new orders and new orders for nondefense capital goods excluding aircraft increased 0.01 percent, 0.04 percent and 0.04 percent, respectively. Stock prices gained for the third straight month, with lower pace of 0.05 percent compared with 0.06 percent in November and 0.11 percent in October, though. It’s obvious that moderate growth in the U.S. economy, intensified sovereign debt crisis in Euro-zone and slow down in emerging countries weigh on market sentiments. Besides, building permits component failed to gain for the first month in three in December after rising 0.15 percent in November and 0.24 percent in October, consistent with Fed’ assessment that “housing sector remains depressed”.

The report released at the same time (10:00 AM Eastern Time) by the U.S. Census Bureau and the Department of Housing and Urban Department also showed that new home sales plunged 2.2 percent at a seasonally adjusted annual rate of 307,000, the first drop in five months. The print came in as a surprise as economists had called for a gain of 1.9 percent to 321,000. The threat of further price declines may discourage Americans in some areas to buy a new home despite of historically low interest rate being kept at least until the end of 2014. New home sales climbed 46.7 percent to 22,000 in the Northeast and advanced 9.0 percent to 73,000 in the West. In contrast, sales dropped 10.1 percent to 160,000 in the South and fell 3.7 percent in the Midwest.

AUD/USD 1-minute Chart: January 26, 2012

012612_US_Leading_Indicators_and_New_Home_Sales_December_body_Picture_1.png, Dollar Trim Loss as U.S. Leading Indicators Rose 0.4% in December

Charts created using Strategy Trader– Prepared by Trang Nguyen

The U.S. dollar continued to weaken versus most of its major trading partners today amid a surge in risk appetite after Fed signaled yesterday that quantitative easing would be still on the table. However, the reserve currency pares loss following the leading indicators and new home sale releases. As can be seen from the 1-minute AUDUSD chart above, the AUD/USD pair dropped approximately 40 pips from 1.0680 to 1.064 within 40 minutes. The Relative Strength Indicator (RSI) falling below 30 indicated that forex trading crowd was massively selling the aussie in favor of the greenback. At the time this report was written, the aussie traded at $1.0652.

--- Written by Trang Nguyen, DailyFX Research Team for DailyFX.com

To contact Trang, email tnguyen@dailyfx.com

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

DISCLOSURES

News & Analysis at your fingertips.