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.

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
Oil - US Crude
Bullish
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
More View more
Real Time News
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here: https://t.co/QszmdZFxlk https://t.co/paOy1oQmn3
  • US indices have a packed week ahead with earnings from the major technology names, US GDP data due and an FOMC rate decision. With so much on the docket the potential for volatility is heightened. Get your stock market forecast from @PeterHanksFX here: https://t.co/CH4WoStHvu
  • 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/Yl9vM7kO6a https://t.co/otJwnuR7qe
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/s4lZWdJoXV
  • The US Dollar Index traded higher last week, sustaining its broader uptrend. Conflicting technical signals urge caution, but the directional bias remains skewed to the upside. Get your weekly USD technical forecast from @FxWestwater here: https://t.co/jcwhcsUBEN https://t.co/tKrlrRZlZn
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here: https://t.co/KDjIjLdTSk https://t.co/MGy9OTXpUI
  • The Australian Dollar still remains vulnerable as it extends losses against its major counterparts. What is the road ahead for AUD/USD, AUD/JPY, AUD/NZD and AUD/CAD? Get your AUD technical forecast from @ddubrovskyFX here: https://t.co/ph20zFv4qS https://t.co/v4g9ATf4rr
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Learn about the importance of the ISM manufacturing index here: https://t.co/Xr3xtoFpZy https://t.co/De69mTseZN
  • Take a closer look visually at the most influential global importers and exporters here: https://t.co/G58J1dg6y3 https://t.co/D7AeTM5OpH
  • EUR/USD tumbled last week on the day of the ECB’s latest policy announcement, and that weakness is set to continue this week as a flood of major Eurozone economic statistics is released. Get your weekly Euro forecast from @MartinSEssex here: https://t.co/9B4rJnzWuz https://t.co/ENF3xlkuyP
USD Gains as Consumer Sentiment Rose to Three-Month High in August

USD Gains as Consumer Sentiment Rose to Three-Month High in August

Tzu-Wen Chen, Technical Strategist

THE TAKEAWAY: [U.S. consumer confidence rose in August to highest level in three months] > [Adds to signs of improving U.S. economy] > [USD strengthens]

Consumer confidence in the U.S. rose more than expected in August to the highest level in three months, adding to signs that the U.S. economy is picking up. Final monthly readings indicated that the Thomson Reuters / University of Michigan Confidence Index (MCSI) climbed to 74.3 in August from its preliminary print of 73.6 and July’s reading of 72.3. The median forecast of 60 economists surveyed by Bloomberg News called for a final print of 73.6.

Recent economic data has shown improvements in job growth and home prices, boosting consumer sentiment and the likelihood of a pickup in household spending in coming months. On the other hand, rising fuel prices and concerns over impending tax changes may be holding back larger gains in consumer confidence.

AUDUSD 1-minute Chart: August 31, 2012

USD_Gains_as_Consumer_Sentiment_Rose_to_Three-Month_High_in_August__body_Picture_2.png, USD Gains as Consumer Sentiment Rose to Three-Month High in August

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

In the minutes following data release, the U.S. dollar strengthened against the Australian dollar, rising to a high of $1.0279. The subsequent reversal came after Federal Reserve Chairman Ben Bernanke’s comments on the U.S. economic outlook, ahead of today’s Jackson Hole Economic Policy Policy Symposium.

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

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

DISCLOSURES