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
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
Bearish
Wall Street
Bearish
Gold
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
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • New York virus cases increase 0.2%, matching prior 7-day average - BBG
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.09%, while traders in US 500 are at opposite extremes with 71.47%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/wjDLRsXmf6
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.82% Silver: 0.27% Gold: 0.21% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/kDr5Y0tgRI
  • 🇧🇷 Business Confidence (JUL) Actual: 47.6 Previous: 41.2 https://www.dailyfx.com/economic-calendar#2020-07-10
  • High beta currencies are among the underperformers with the Pound on the back foot. Get your $GBPUSD market update from @JMcQueenFX here:https://t.co/c2wNgduMlI https://t.co/PjnbvM4w7J
  • Indices Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.65% FTSE 100: 0.52% France 40: 0.50% Wall Street: -0.02% US 500: -0.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/q6ROX6VkUm
  • $Gold and $SPX have both held support at key zones thus far. End of the first full week of Q3 - next week brings on earnings season. https://t.co/19q9npaHNr https://t.co/mdBa6W9vs9
  • Join @malkudsi 's live #webinar at 10:00 AM ET / 2:00 PM GMT to learn about the basics of technical analysis and how to incorporate it into your trading . Register here: https://t.co/wFAMspwUfD https://t.co/ldxvf2AJgm
  • 🇨🇦 Average Hourly Wages YoY (JUN) Actual: 6.8% Previous: 9.96% https://www.dailyfx.com/economic-calendar#2020-07-10
  • $USDCNH | Dollar-Yuan bouncing back above 7.0 as broader bullish trend holds. Meanwhile, the US looks to move forward with federal contract bans on doing business with Chinese tech companies that pose national security risk, and now news China state funds are liquidating stocks. https://t.co/cxkjeDaWqJ
Forex News: US October Budget Deficit Widens More than Expected

Forex News: US October Budget Deficit Widens More than Expected

2012-11-13 21:50:00
Renee Mu, Currency Analyst
Share:

THE TAKEAWAY: [US October budget deficit widens to $120.0B, more than expected] > [Monthly outlays outpaced receipts] > [USDJPY strengthens]

The U.S government’s budget expanded in October, the first month of the new fiscal year, after a surplus of $75.02 billion in September. According to the Treasury department, the deficit widened by 22% to $120 billion from a shortfall in October 2011. Meanwhile, economists surveyed by Bloomberg had a median estimation of $113 billion.

The gap between spending and revenue broadened as the increase in outlays was considerably larger than the gain in receipts. From a year earlier, total outlays grew 16.4% to $304.31 billion, while receipts expanded 13.0% to $184.32 billion.

Lower corporate tax receipts also contributed to the expanded deficit in October. In order to lower future gaps and avoid the fiscal cliff, President Obama and Congress seek an agreement to cut spending and increase tax. USDJPYS 1-minute Chart: November 13, 2012 Chart created using Market Scope

us_budget_deficit_grows_body_deficit.gif, Forex News: US October Budget Deficit Widens More than Expected

In the minute after the monthly budget statement was released, the U.S. dollar pares loss against the Japanese yen. As can be seen from one-minute USDJPY chart above, the USDJPY rose to 79.389 from 79.382, but quickly saw correction to the same level before report. At the time this report was written, the USDJPY pair was trading higher at 79.391.

--- Written by Renee Mu DailyFX Research

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

DISCLOSURES

News & Analysis at your fingertips.