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
More View more
Real Time News
  • NY Fed accepts $965.19 billion in reverse repo operations $USD $DXY
  • The US Dollar is holding support around the 92.50 area on the chart after a week-long pullback. Get your market update from @JStanleyFX here:
  • With all eyes on the Fed, the US 10Y Treasury yield moves back above 1.25% #Fed #FOMC
  • NZD/USD carves a series of lower highs and lows as it pulls back from the weekly high (0.7010), but the Federal Reserve interest rate decision may keep the exchange rate afloat. Get your market update from @DavidJSong here:
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.65%, while traders in France 40 are at opposite extremes with 69.19%. See the summary chart below and full details and charts on DailyFX:
  • Before today's FOMC decision, the Dollar is treading water and the implied forecast for Fed hikes through Dec 2022 (via Fed Funds futures) is 14bps. Correlation between two is still askew
  • $GBPJPY with a 400 pip + run over the past 8 days. fibo support at 148.65 made its mark
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.72% Silver: 0.71% Gold: 0.10% View the performance of all markets via
  • New Covid cases in the US have surpassed 100,00 and are at the highest overall levels since Feb 5th. The Fed has made a point to raise this concern previously and the IMF made it globally on Tuesday. I expect to see it today at FOMC
  • Amazon denies claims that they will accept Bitcoin by year-end. Will buyers achieve a follow-through in BTC/USD? Find out from @HathornSabin here:
U.S. Dollar Mixed After U.S. Personal Spending Stagnates in August

U.S. Dollar Mixed After U.S. Personal Spending Stagnates in August

Tzu-Wen Chen, Technical Strategist

THE TAKEAWAY: U.S. real consumer spending stagnated in August > Economic recovery struggling to gain momentum > USDJPY mixed

Consumer spending in the U.S. stagnated in August, indicating that U.S. economic recovery is struggling to gain momentum. According to the Commerce Department, personal spending rose 0.5 percent in August, the largest gain since February, following a 0.4 percent rise the previous month. However, after adjusting for inflation, growth in real spending climbed a mere 0.1 percent, as the increase in spending was due largely to a 0.4 percent surge in prices. Core personal consumption expenditure rose 0.1 percent from a month ago and 1.6 percent year-on-year, in line with consensus forecasts of economists surveyed by Bloomberg News.

Meanwhile, personal income rose 0.1 percent in August, following a gain by the same amount in July. The consensus forecast of economists surveyed by Bloomberg News had projected a 0.5 percent gain in spending and 0.2 percent rise in income.

With income growth failing to keep up with the rising costs of food and gas, households are under pressure to tap into their savings. Recovery of the U.S. economy is likely to remain subdued, amid persistently high unemployment, stagnant wage growth and growing concerns about the impending fiscal cliff of tax increases and government spending cuts.

USDJPY 1-minute Chart: September 28, 2012

U.S._Dollar_Mixed_After_U.S._Personal_Spending_Stagnates_in_August___body_Picture_1.png, U.S. Dollar Mixed After U.S. Personal Spending Stagnates in August

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

The U.S. dollar surged against the Japanese yen in the first few minutes after the release of the PCE and spending data. However, trading quickly reversed directions, erasing the initial gains made by the greenback. At the time this report was written, the USDJPY pair was trading slightly higher at 77.61 yen.

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

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