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
Bullish
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
Mixed
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
Wall Street
Bullish
Gold
Mixed
GBP/USD
Mixed
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
USD/JPY
Bearish
More View more
Real Time News
  • The anti-risk Japanese #Yen may rise versus currencies like the $AUD and $NZD on US-China tensions and fiscal stimulus woes which sank the Nasdaq 100 at the end of last week. Get your #currencies update from @ddubrovskyFX here: https://t.co/Kw0fYCHEcw https://t.co/jiQBPpzat3
  • The #Dollar is down than 3% year-to-date with the index responding to trend support at multi-year lows. Here are the levels that matter on the $DXY weekly technical chart. Get your #currencies update from @MBForex here: https://t.co/MVnF5VDoeN https://t.co/TP2k8u9sXN
  • Why financial market traders must monitor both monetary and fiscal policy? Find out from @MartinSEssex here:https://t.co/Fkzk88Y5gm https://t.co/ioGWvplvt7
  • Based on how US-China tensions and fiscal talks ended this past week, is the Japanese #Yen readying to push higher ahead? Check out the latest #JPY fundamental outlook here - https://www.dailyfx.com/forex/fundamental/forecast/weekly/jpy/2020/08/10/Yen-May-Rise-as-Nasdaq-100-Falls-on-US-China-Tensions-Fiscal-Woes.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/2Km23bVAy2
  • Tech leading the S&P 500 towards record highs, however, China risks rise. FTSE 100 hovers in a lower range. Get your #equities update from @JMcQueenFX here: https://t.co/IJAABNhxjs https://t.co/ZZ6njsuf5O
  • We are heading into the peak of summer yet there are some unexpected trends in key plays. Will complacency or fundamental instability win out? My weekend video: '#Dollar, S&P 500, #Gold - The Potential for Trend, Reversal or Congestion' https://www.dailyfx.com/forex/video/daily_news_report/2020/08/08/Dollar-SP-500-Gold---The-Potential-for-Trend-Reversal-or-Congestion-.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/7KoypvTwcL
  • What are some trading mistakes @nickcawley1 made during his career and what did he learn from them? Find out: https://t.co/40C8Sg5fM6
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here:https://t.co/sR7HqpK8BI https://t.co/GZXAbZxL38
  • The Australian Dollar could be on the verge of a major breakout against the US #Dollar as $AUDUSD rates eye a close above pivotal chart resistance. Get your #currencies update from @DanielGMoss here: https://t.co/1y4serFW7h https://t.co/OtqppN7fcp
  • Multiple time frame analysis follows a top down approach when trading and allows traders to gauge the longer-term trend while spotting ideal entries on a smaller time frame chart. Learn how to incorporate multiple time frame analysis here: https://t.co/HnzQcAXWLU https://t.co/A517hC0JAG
EUR/USD Continues Intraday Slip after US Consumer Confidence Beats

EUR/USD Continues Intraday Slip after US Consumer Confidence Beats

2016-08-30 14:37:00
Diego Colman, Market Analyst
Share:

Talking Points:

- US Consumer Confidence rises to 101.1 from 96.7 vs 97.0 expected.

- EUR/USD extends losses after US Consumer Confidence beats expectations

- Avoid the pitfalls of trading by steering clear of classic mistakes. Review these principles in the "Traits of Successful Traders" series.

The US Dollar has continued its strong run since Friday, with its latest burst higher powered by a gauge of US consumer sentiment this morning. According to the Conference Board, US Consumer Confidence in August popped to the highest level since September 2015. The survey, which polls approximately 3,000 households, is a closely watched barometer of consumer attitudes and measures general sentiment toward business conditions, short term outlook, income, and the labor market.

The Research Group said that its Consumer Confidence Index jumped to 101.1 from a downwardly revised 96.7 in July. Analysts surveyed by Bloomberg News had expected the confidence indicator to inch lower to 97. The component breakdown showed the Present Situation Index rose climbed to 123.0 from 118.8 whereas the Expectations Index rose to 86.4 from 82.0

The Director of Economic Indicators at the Conference Board Lynn Franco commented: “Consumers’ assessment of both current business and labor market conditions was considerably more favorable than last month. Short-term expectations regarding business and employment conditions, as well as personal income prospects, also improved, suggesting the possibility of a moderate pick-up in growth in the coming months.”

Although it is difficult to draw conclusions from one single report, rising consumer confidence may signal a further pick up in consumer spending (July’s figures were strong) which, in turn, could bolster economic growth as household consumption expenditure accounts for approximately 70% of GDP.

See the DailyFX Econmic Calendar for the rest of this week.

Chart 1: EUR/USD 1-minute Chart Intraday (August 30, 2016)

EUR/USD Continues Intraday Slip after US Consumer Confidence Beats

Immediately after the release of the Consumer Confidence Survey EUR/USD fell as low as $1.1136 as the upbeat tone of the report may offer further encouragement to the Fed that the US Economy is ready to withstand higher borrowing costs as consumer spending will continue to buttress the broader recovery. At the time this report was written, however, EUR/USD had settled around $1.1140. In any case, the US August Jobs’ report scheduled to come out Friday will likely offer more clues about the health of the US Economy and whether the Fed will move in this year or stand pat on monetary policy.

Read more: USDOLLAR Index Technicals Turning - EUR/USD, USD/JPY Key

--- Written by Diego Colman, DailyFX Research

For comments or questions regarding this article, email instructor@dailyfx.com

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

DISCLOSURES

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.