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
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
Bearish
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • Using margin in forex trading is a new concept for many traders, and one that is often misunderstood. Margin is the minimum amount of money required to place a leveraged trade and can be a useful risk management tool. Learn about margin trading here: https://t.co/qZCE5asCzM https://t.co/yxE0OmLIP0
  • Entry orders are a valuable tool in forex trading. Traders can strategize to come up with a great trading plan, but if they can’t execute that plan effectively, all their hard work might as well be thrown out. Learn how to place entry orders here: https://t.co/1mnOXUd00T https://t.co/iSrjZTeWwf
  • There are many different types of forex orders, which traders use to manage their trades. While these may vary between different brokers, there tends to be several basic FX order types all brokers accept. Learn about different FX order types here: https://t.co/WeLInepZiD https://t.co/7B0KI8HehW
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/Yl9vM73cHA https://t.co/vGW5BygTXU
  • When it comes to buying and selling forex, traders have unique styles and approaches. Learn about buying and selling forex here: https://t.co/xngExEdFdu https://t.co/kqpJ6oGXgt
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/F4dXbUzU3o https://t.co/G0ZWWVtSrZ
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfIZNKr https://t.co/5js6tWk5bY
  • The Euro has regained lost ground against its major counterparts recently. Are further gains in the offing or is this just a short-term countertrend correction? EUR/USD, EUR/JPY, EUR/GBP, EUR/NZD key levels. Get your market update from @DanielGMoss here:https://t.co/Z71MZEIJWC https://t.co/YAr1kN4eKd
  • Coinbase’s impending initial public offering could provide the necessary fuel for Bitcoin to push to fresh record highs in the coming days. Get your market update from @DanielGMoss here:https://t.co/twdu0zqmIM https://t.co/72HRMZlKUn
  • The Swiss Franc has positioned itself against key levels versus the Australian Dollar, New Zealand Dollar and Euro over the past week. Where next for AUD/CHF, NZD/CHF and EUR/CHF? Find out from @FxWestwater here:https://t.co/CrtQGzvWnm https://t.co/j5Zjn5zY0D
ISM Manufacturing Climbs to 7-Month High; U.S. Dollar Weakens

ISM Manufacturing Climbs to 7-Month High; U.S. Dollar Weakens

Tzu-Wen Chen, Technical Strategist

THE TAKEAWAY: [U.S. ISM Manufacturing Index Rises to Seven-Month High] > [Gains in Production, New Orders and Employment] > [USD Extends Loss]

Expansion in manufacturing in the U.S. hit a seven-month high in January, led by gains in new orders, production and employment. The Institute for Supply Management’s (ISM) manufacturing index, which tracks the amount of manufacturing activity that occurred in the previous month, climbed to 54.1 percent, an increase of 1 percent from December’s reading of 53.1 percent. This reading falls short of the median forecast according to a Bloomberg News survey, which predicted a print of 54.5 percent. The index has stayed above the 50-level for 30 straight months, signifying consistent expansion in the manufacturing sector. According to ISM’s January report, the PMI of 54.1 percent for January corresponds to a 3.9 percent increase in real gross domestic product (GDP) on an annualized basis.

U.S. ISM Manufacturing Chart: January 2010 to Present

U.S._ISM_Manufacturing_Rises_to_7-Month_High_body_x0000_i1026.png, ISM Manufacturing Climbs to 7-Month High; U.S. Dollar Weakens

Chart created using data by Bloomberg– Prepared by Tzu-Wen Chen

The ISM manufacturing index takes into account expectations for future production, new orders, inventories and employment deliveries. New orders rose to 57.6 percent from December’s reading of 54.8 percent, led by petroleum and coal products, machinery, apparel and primary metals. Expansion in production slowed to 55.7 from 58.9 percent in December, as did employment which came in at 54.3 percent, a 0.5 percent slow-down from December’s figure of 54.8 percent. Meanwhile, inventories contracted a slower pace than in December, coming in at 49.5 percent.

ISM Prices Paid index, which reflects business sentiment regarding future inflation, came in at 55.5, well over the consensus forecast of 50.0 and 8 percentage points higher than the December reading of 47.5. This is the first month that the Prices Index has exceeded the 50-level since September 2011. Of the eighteen manufacturing industries, eleven, including textiles, fabricated metal products, and plastics, reported paying increased prices. Four industries that reported paying lower prices included furniture, petroleum and coal, food/beverage/tobacco and machinery.

AUD/USD 1-minute Chart: February 1, 2012

U.S._ISM_Manufacturing_Rises_to_7-Month_High_body_Picture_4.png, ISM Manufacturing Climbs to 7-Month High; U.S. Dollar Weakens

Chart created using Strategy Trader Prepared by Tzu-Wen Chen

In the minutes after the data release, the U.S. dollar lost ground against other major currencies, extending the decline from earlier this week as the rise in risk appetite dampens the appeal of the greenback. It is worth noting, however, that the increase in the ISM survey could dampen expectations for further monetary easing.

--- Written by Tzu-Wen Chen DailyFX Research

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

DISCLOSURES