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.

Free Trading Guides
EUR/USD
Mixed
Oil - US Crude
Bearish
Wall Street
Bearish
Gold
Mixed
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Silver: 2.04% Gold: 0.55% Oil - US Crude: -1.48% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/5jVWooiTee
  • GBP/USD IG Client Sentiment: Our data shows traders are now net-short GBP/USD for the first time since May 06, 2020 when GBP/USD traded near 1.23. A contrarian view of crowd sentiment points to GBP/USD strength. https://www.dailyfx.com/sentiment https://t.co/wyWpKN83H2
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 1.79% 🇨🇦CAD: 1.33% 🇳🇿NZD: 1.31% 🇪🇺EUR: 0.20% 🇯🇵JPY: 0.19% 🇨🇭CHF: 0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/q2qAPkPXZi
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: US 500: 0.29% Wall Street: 0.27% Germany 30: 0.08% FTSE 100: -0.00% France 40: -0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/vHF9F2qb4Z
  • Happy Monday traders! What does the new month bring? Are we looking at positive sentiment but not much momentum❔ What are the market highlights heading into New York open? Find out from @DailyFX Chief Strategist, @JohnKicklighter 👇 https://t.co/xaHZXjZdZr
  • US Treasury Secretary Steven Mnuchin to hold call with G-7 finance ministers on Wednesday per his public schedule $DXY
  • Overlay that with google search terms for “protest” and “riots” and you see a similar uptick. Last time we saw a surge in these search terms was back in August 2019 and we saw a lot of volatility ensue shortly after. https://t.co/ZXAkgRWfAB
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 1.48% 🇳🇿NZD: 1.14% 🇨🇦CAD: 0.98% 🇯🇵JPY: 0.20% 🇪🇺EUR: 0.19% 🇨🇭CHF: 0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/q8shAF6mG4
  • #IBEx35: a punto de romper el rango para situarse en los niveles previos a la crisis #trading https://t.co/H9DbLtpdox
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Germany 30: 2.12% FTSE 100: 1.61% France 40: 1.56% Wall Street: 0.42% US 500: 0.37% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/M3rd9RjKa0
US GDP Miss Sends USD/JPY, Yields, Futures Lower Ahead of FOMC

US GDP Miss Sends USD/JPY, Yields, Futures Lower Ahead of FOMC

2014-04-30 12:47:00
Gregory Marks,
Share:

Talking Points:

-ADP Employment Change (APR) comes in at 220K vs. 210K estimated

-ADP Employment Change (MAR) revised from 191K to 209K

-US GDP QoQ (1Q A) comes in at 0.1% vs. 1.2% estimated and 2.6% prior

-Canadian GDP MoM (FEB) comes in at 0.2% vs. 0.2% estimated and 0.5% prior

Gross Domestic Product (annualized figures) for the U.S. came in far below market expectations and contributed to USDollar weakness as the NY session gets underway. The quarter over quarter print came in at 0.1% vs. expectations of 1.2%, although Personal Consumption came in higher at 3.0% vs. 2.0% surveyed.

On the Canadian front, we saw a print of 0.2% for MoM GDP growth in February for GDP and this met market expectations. Nevertheless, we saw Industrial Price Product come in slightly lower than expected and the Raw Materials Price Index came in at 0.6% vs. 1.0% expected.

Just before GDP we received the ADP Employment Change print that indicated a 220K gain vs. a 210K estimate for April while the March figures were revised higher to 209K from 191K reported last month. Although 10yr US Treasury yields spiked at the ADP release to 2.715%, we hit a low of 2.674% at the release. Equity futures spiked higher at the GDP release, but 10 minutes following the print we are seeing heavy volume selling as we move towards the open.

Note that we have event risk later in the day with the FOMC Rate Decision at 18:00GMT.

Spread Study: ADP vs. NFP

US GDP Miss Sends USD/JPY, Yields, Futures Lower Ahead of FOMC

April 30, 2014 USDJPY (5-Minute Chart)

US GDP Miss Sends USD/JPY, Yields, Futures Lower Ahead of FOMC

Source: FXCM Marketscope

Gregory Marks, DailyFX Research Team

Keep up to date on event risk with the DailyFX Calendar.

How does a Currency War affect your FX trading?

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

DISCLOSURES

News & Analysis at your fingertips.