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
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Find out about the recent history of ISM data, how to track it, and how to trade its release here:
  • 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:
  • Do you know the difference between investing and trading? Because while the goal might seem the same, they're very different things . Learn more here.
  • The Canadian Dollar remains supported amid elevated crude oil prices. Don’t be surprised if the Bank of Canada disappoints aggressive hawkish expectations. Earnings season is a wildcard. Get your weekly Loonie forecast from @ddubrovskyFX here:
  • Rather than focusing on earning a specific number of pips per day, traders need to focus on what can be controlled. In trading terms this relates to following a strategy perfectly, with no emotion or hesitation. Learn more here:
  • Slippage can be a common occurrence in forex trading but is often misunderstood. Understanding how forex slippage occurs can enable a trader to minimize negative slippage, while potentially maximizing positive slippage. Learn about FX slippage here:
  • The Spinning Top candlestick pattern forms part of the vast Japanese candlestick repertoire with its own distinct features. Gain a better understanding of the spinning top candlestick here:
  • The European Central Bank will consider it a job well done if there is no movement in EUR/USD or the Euro crosses before, during or after Thursday’s policy announcements by its Governing Council. Get your weekly Euro forecast from @MartinSEssex here:
  • Further your forex knowledge and gain insights from our expert analysts @ddubrovskyFX and @FxWestwater on JPY with our free Q4 market analysis guide, available for free today.
  • Becoming a forex trader means living and breathing the excitement, risk and reward of trading in the biggest and most liquid market in the world. Do you have what it takes? Read here to discover the qualities and processes it takes to build consistency:
Business Confidence Bleak in South Africa as the PMI Contracts

Business Confidence Bleak in South Africa as the PMI Contracts

Walker England, Kara Dailey,

Talking Points:

  • SACCI Business Confidence increases in January but remains below last year’s average
  • Manufacturing contracts with a PMI reading of 49.8; electricity production falls 1.2% (y/y)
  • USDZAR moves to support in a flag pattern despite weakened business confidence

With its slowest start in 18 years, South Africa’s SACCI Business Confidence remains below last year’s average as the country’s manufacturing sector contracts and electricity production drops. In facing both internal and external challenges, the Chamber of Commerce and Industry expects further declines in business and investor confidence moving forward.

Despite increasing to 89.3, the index in January of 2015 remains 1.2 points lower than the level recorded in January of 2014. Two indicators, exports and precious metals, consecutively increased month- over-month while the remaining sub-indices did not exhibit any distinguishable trends. Year-over-year sectors within the manufacturing, retail trade, and mining industries suffered declines in productivity. Manufacturing activity fell by 1.3%, retail trade (excluding food) fell by 3.4% and mining of PGM fell by 14.3%. Activity growth remains at risk given the following factors: low international crude prices, slower economic growth among BRICS partners, and lingering domestic power outages.

A mismatch between electricity production and demand has arisen in South Africa, inhibiting the nation from reaching its full economic capacity. When compared to 2013, electricity production in 2014 was down 1.4 percent or 3,495 KWh. Partially offsetting this decrease, electricity imports increased by 18.6%, leaving total consumption down only 0.7%. Without enough electricity supply to meet demand, industrial growth remains at risk.

With the first negative reading in six months, HSBC’s South Africa manufacturing PMI fell to 49.8 signaling deterioration in operating conditions. Output and new export orders indices fell below 50, leaving the employment component stagnant. Taking note of this shift, the IMF has lowered South Africa’s growth outlook for 2015 by 0.2 percentage points to 2.1%.

USDZAR Daily Chart

dailyfx US dollar South African rand daily chart February 2015

Chart Created by Walker England Using MarketSope2.0

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