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
Wall Street
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
  • Stocks appear to be in a corrective phase but could get put to the test; levels and lines to watch in the days ahead. Get your weekly equities forecast from @PaulRobinsonFX here:
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here:
  • Further your forex knowledge and gain insights from our expert analysts on AUD with our free guide, available today:
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here:
  • Trading Forex is not a shortcut to instant wealth, excessive leverage can magnify losses, and sentiment is a powerful indicator. Learn about these principles in depth here:
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here:
  • The Japanese Yen is eyeing the upcoming Bank of Japan rate decision and CPI figures, but JPY crosses will likely remain dependent on broader market sentiment. Get your weekly $JPY forecast from @FxWestwater here:
  • Consolidation or bull flag? A bull flag is a continuation pattern that occurs as a brief pause in the trend following a strong price move higher. Learn how to better spot these formations here:
  • Crude and Brent oil are on track to extend higher as Gulf Coast supply disruptions and a positive OPEC report bolster sentiment. Uranium is on a massive surge, aided by the famous Wall Street Bets group. Get your market update from @FxWestwater here:
  • RT @michaeljburry: Read thread.
US Dollar Posts Further Declines Despite Rise in New Manufacturing Orders

US Dollar Posts Further Declines Despite Rise in New Manufacturing Orders

Benjamin Spier, Technical Strategist

Talking Points:

  • US ISM Manufacturing declines to 57.0, but better than expected
  • Pace of new manufacturing orders fastest in 3-years
  • USD/JPY falls to 3-day low

Want to trade with proprietary strategies developed by FXCM? Find out how here.

New manufacturing orders accelerated at the fastest pace in over three years in December, according to the Institute for Supply Management, but the US Dollar still continued to set new 3-day lows against the Japanese Yen.

The ISM Manufacturing index was reported at 57.0 for December, beating expectations for 56.8 but down from 57.3 in November, which was a 2-year high. The ISM prices paid index for manufacturing rose to 53.5 in December, while the new orders survey increased to 64.2

Earlier today, initial jobless claims in the United States rose by 339,000 for the week ending on December 28, which was both better than expected and the smallest rise in jobless claims in four weeks.

Better than expected economic releases should provide strength for the US Dollar because outgoing Fed Chairman Bernanke said in December that the FOMC will continue to taper its monthly asset purchases in 2014, depending on the outcome of economic data. However, manufacturing only makes up 12% of the US economy.

That may be why the greenback gains on the better than expected data were short lived, and the US Dollar continued the decline that began near the start of the NY session. USD/JPY fell to a 3-day low at 104.66 shortly after the release of the report, and support may continue to be seen around 104.64/63, by both the 4-day low and the previous 5-year high set on 12/20.

New to Forex? Watch this video

USD/JPY 1-Minute: January 2, 2014

US_Dollar_Posts_Further_Declines_Despite_Faster_Rate_of_New_Manufacturing_Orders_body_Picture_1.png, US Dollar Posts Further Declines Despite Rise in New Manufacturing Orders

Chart created by Benjamin Spier using Marketscope 2.0

-- Written by Benjamin Spier, DailyFX Research. Feedback can be sent to .

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