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
Wall Street
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
More View more
Real Time News
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out https://t.co/c51s3IBcEu https://t.co/sbejkd7XT5
  • *Reminder: Weekly Strategy Webinar Monday morning at 8:30am ET - https://t.co/lxd5fZnn4H Mid-Week Market Update on Wednesday at 9:30am ET - https://t.co/8SFBJxNZrA
  • Are you new to trading? Technical analysis of charts aims to identify patterns and market trends by utilising different forms of technical chart types and other chart functions. Get a refresher on technical analysis or begin building your knowledge here: https://t.co/qV3c7a4YR3 https://t.co/CJR61cljOe
  • (AUD Weekly Tech) Australian Dollar May Wilt, Downtrends Resume: AUD/USD, AUD/JPY, AUD/NZD, AUD/CAD https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2021/09/19/Australian-Dollar-May-Wilt-Downtrends-Resume-AUDUSD-AUDJPY-AUDNZD-AUDCAD.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/DedoOKJMXh
  • Entry orders are a valuable tool in forex trading. Traders can strategize to come up with a great trading plan, but if they can’t execute that plan effectively, all their hard work might as well be thrown out. Learn how to place entry orders here: https://t.co/1mnOXUuBpt https://t.co/GQB0ic9Ahe
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here: https://t.co/vg7w10la3j https://t.co/lx3cMSpZNc
  • Further your forex knowledge and gain insights from our expert analysts on EUR with our free guide, available today: https://t.co/XtydfUNW0y https://t.co/n4NXZUovb0
  • Scoping out next week for trading the market, there are a range of high profile influences including September PMIs, Evergrande and a range of central bank decisions. Top listing on my docket is the #FOMC with my scenarios below. Full analysis: https://www.dailyfx.com/forex/video/daily_news_report/2021/09/18/SP-500-and-Dollar-on-the-Hook-for-Breaks-with-Evergrande-Fed-and-September-Trade-Ahead.html https://t.co/ZdoMJS9fp5
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here: https://t.co/rfwUWJfbz9 https://t.co/Q3Yfe6TMLw
  • The non-farm payroll (NFP) figure is a key economic indicator for the United States economy. It is also referred to as the monthly market mover. Find out why it has been given this nickname here: https://t.co/yOUVEEqhc5 https://t.co/6inC94w5K4
Dollar Lifted as August U. of Michigan Confidence Index Revised Higher

Dollar Lifted as August U. of Michigan Confidence Index Revised Higher

Christopher Vecchio, CFA, Senior Strategist

Talking Points:

- US consumers better off than previously estimated.

-Confidence below July level, in line with rising interest rates.

- EURUSD BEARISH

The US Dollar has seen a kick higher this morning amid signs that US consumers are weathering the recent patch of softer economic activity. The final U. of Michigan Consumer Confidence survey for the month of August ticked slightly higher to 82.1, but remained the previous month (and yearly high) of 85.1.

Here are the figures driving US Dollar price action:

- U. of Michigan Confidence (AUG F): 82.1 versus 80.5 expected (initial 80.0), prior 85.1.

From earlier today, these data proved to be a bit of a drag on the US Dollar as US Treasury yields slipped:

- Personal Income (JUL): +0.1% versus +0.2% expected, from +0.3% (m/m)

- Personal Spending (JUL): +0.1% versus +0.3% expected, from +0.6% (revised lower from +0.5%) (m/m)

- PCE Core (JUL): +1.2% versus +1.3% expected, from +1.2% (y/y)

Read more: Euro Lacks Direction amid Improved Labor Data; GBP Best in August

EURUSD 1-minute Chart: August 30, 2013

Dollar_Lifted_as_August_U._of_Michigan_Confidence_Index_Revised_Higher_body_Picture_1.png, Dollar Lifted as August U. of Michigan Confidence Index Revised Higher

Charts Created using Marketscopeprepared by Christopher Vecchio

Nevertheless, despite mixed/softer secondary US Data earlier in the day, the US Dollar now finds itself sitting at or near session highs against most of its major counterparts as forex traders rebalanced their books at the end of the month.

The EURUSD slipped from near $1.3220 ahead of the release to as low as 1.3202. At the time this report was written, the EURUSD was trading at 1.3205.

--- Written by Christopher Vecchio, Currency Analyst

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com

Follow him on Twitter at @CVecchioFX

To be added to Christopher’s e-mail distribution list, please fill out this form

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

DISCLOSURES