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
Oil - US Crude
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
More View more
Real Time News
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here:
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here:
  • Gold price action is primed for volatility next week with the Fed decision on deck. How real yields and the US Dollar react to fresh guidance from Fed officials will be key for gold outlook. Get your weekly gold forecast from @RichDvorakFX here:
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here:
  • Canadian Dollar snapped a three-week losing streak after USD/CAD stalled at key technical resistance. Get your CAD weekly forecast from @MBForex here:
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here:
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here:
  • Get your snapshot update of the of top level exchanges and key index performance from around the globe here:
  • 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:
  • The Nasdaq 100 index is aiming to breach a key resistance level at 14,950 for a second time. A successful attempt may open the door to further gains, although the MACD indicator flags signs of weakness. Get your equities forecast from @margaretyjy here:
US Dollar Pares Earlier Losses As March ISM Non-Manufacturing Decelerates

US Dollar Pares Earlier Losses As March ISM Non-Manufacturing Decelerates

Tzu-Wen Chen, Technical Strategist

THE TAKEAWAY: [U.S. non-manufacturing activity grew in March, but decelerated more than expected] > [Business activity decelerates; Employment growth accelerates] > [USDCAD strengthens]

U.S. economic activity in the non-manufacturing sector grew in March for the 27th straight month. However, the pace of economic activity decelerated more than expected, with a report released by the Institute for Supply Management (ISM) showing that its non-manufacturing index fell to 56.0 percent in March from the 57.3 percent registered in February. The consensus forecast according to 69 economists polled in a Bloomberg News survey had projected a reading of 56.8.

The Business Activity index, which is considered the most significant sub-index, fell to 58.9 percent, 3.7 percentage points lower than the 62.6 percent reported in February. Similarly, the New Orders Index declined to 58.8 percent from 61.2, while the Prices Index fell 4.5 percentage points to 63.9 percent, indicating prices increased at a slower rate in March. On the other hand, the Employment index rose by 1 percentage point to 56.7 percent, signaling continued growth in employment at a slightly fast rate.

Overall, respondents remained optimistic about business conditions and indicated that increasing consumer and business sentiment has been reflected in increased discretionary spending. However, businesses highlighted continued concern regarding cost pressures and fuel price uncertainty.

USDCAD 1-minute Chart: April 04, 2012

US_Dollar_Pares_Earlier_Losses_As_March_ISM_Non-Manufacturing_Decelerates_body_Picture_1.png, US Dollar Pares Earlier Losses As March ISM Non-Manufacturing Decelerates

Chart created using Strategy Trader – Prepared by Tzu-Wen Chen

Following the data release, the greenback strengthened against its major currency counterparts. As seen on the 1-minute USDCAD chart above, the US dollar pared losses seen in earlier trade, climbing by 15 pips from pre-data release levels to trade at around $0.9963 against the loonie at the time of this report.

--- Written by Tzu-Wen Chen DailyFX Research

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