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
Oil - US Crude
Mixed
Wall Street
Bullish
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
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Heads Up:🇩🇪 Bundesbank Mauderer Speech due at 13:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-09-28
  • UK PM Johnson spokesman says a deal is still possible but significant gaps remain, adds that EU must adopt more realistic policy for a deal
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.52%, while traders in Germany 30 are at opposite extremes with 60.54%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/0hZsxwi79S
  • LIVE NOW: Join Technical Strategist @MBForex for his Weekly Strategy Webinar to review the setups we're tracking into the open of the week! https://t.co/chKtG7ezG9
  • ECB Sources - New rift opening in ECB GC over future stimulus & economic projections - Hawk wanted in Sep to quietly reduce pace of PEPP purchases and objected to projections excluding fiscal measures - Doves object to Lagarde's timid language on Euro strength
  • EU's Sefcovic says UK position far apart from what the EU can accept $GBP
  • Forex Update: As of 12:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 1.16% 🇦🇺AUD: 0.55% 🇪🇺EUR: 0.34% 🇳🇿NZD: 0.21% 🇯🇵JPY: 0.15% 🇨🇦CAD: 0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/40nxAUXNSB
  • Weekly Strategy Webinar starting in 15mins! https://t.co/lxd5fZnn4H
  • RT @meremortenlund: 🇺🇸💸Here is how to trade the US election https://t.co/mOl43ebajd
  • 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: https://t.co/5uSWKoLkd6 https://t.co/fqXGrwfEYs
US ISM Manufacturing Contracts in July for Second Month; USD Mixed

US ISM Manufacturing Contracts in July for Second Month; USD Mixed

2012-08-01 14:20:00
Tzu-Wen Chen, Technical Strategist
Share:

THE TAKEAWAY: [U.S. July Manufacturing contracts for a second month] > [Global slowdown restrains demand and weighs on consumer and business spending] > [USDJPY weakens]

Manufacturing in the U.S. contracted in July for the second month, after unexpectedly shrinking last month for the first time in three years. The Institute of Supply Management (ISM) reported today that its manufacturing index rose slightly to 49.8 in July from 49.7 a month earlier. A reading below 50 indicates contraction. July’s figure comes in below the median forecast of 50.2, according to economists surveyed by Bloomberg News.

The manufacturing industry has been impacted by a slowdown in global economic activity, particularly in China and the euro-zone, which is restraining demand for American exports and weakening business conditions. At the same time, consumers in the U.S. are slowing their spending while businesses are holding off on equipment purchases as global uncertainty weighs on confidence.

USDJPY 1-minute Chart: August 1, 2012

US_ISM_Manufacturing_Contracts_in_July_for_Second_Month_USD_Mixed___body_Picture_1.png, US ISM Manufacturing Contracts in July for Second Month; USD Mixed

Chart created using Market Scope – Prepared by Tzu-Wen Chen

The market reaction following the release of the ISM manufacturing data was mixed, with the U.S. dollar dipping against the Japanese yen before moving back up above pre-data levels. At the time this report was written, the USDJPY pair was trading at 78.19 yen.

--- Written by Tzu-Wen Chen, DailyFX Research

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

DISCLOSURES