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.

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
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
Wall Street
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
Gold
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
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.40% 🇳🇿NZD: 0.39% 🇨🇦CAD: 0.20% 🇪🇺EUR: 0.17% 🇨🇭CHF: 0.11% 🇯🇵JPY: 0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/syhc439Snn
  • Technically, the Nasdaq 100 index appears to have formed a bearish “AB=CD” pattern (chart below). An immediate support level can be found at 11,650, where the 38.2% Fibonacci retracement and the 20-Day Simple Moving Average (SMA) line overlap. https://t.co/XJ55wo834j
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.62%, while traders in EUR/USD are at opposite extremes with 72.91%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/Yso2dgKU4I
  • 10 out of 11 S&P 500 sectors closed in the green, with 70% of the index’s constituents ending higher yesterday. Energy (+1.13%) and financials (+0.82%) and were among the better performers, whereas consumer staples (-0.11%) and healthcare (+0.13%) were lagging. https://t.co/XbJZafP2qG
  • Broad risk-on tilt seen early in APAC trade - Haven-associated $USD and $JPY sliding to fresh session-lows as the risk-sensitive $AUDUSD climbs higher. - #Gold eyeing a push to session-highs while #SP500 futures hover relatively steady - #Crudeoil attempting to push back to $42 https://t.co/Uh2YW4jeAP
  • Netflix fell over 5% after its Q3 results came sharply below forecasts in terms of earnings-per-share (EPS), new subscribers and forward guidance due to a drastic slowdown in sign-ups in the summer season. https://t.co/faqGMEJlHb
  • Wall Street Futures Update: Dow Jones (+0.43%) S&P 500 (+0.40%) Nasdaq 100 (+0.51%) [delayed] -BBG
  • There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency is the fundamental factor that prevails above them all. Learn how interest rates impact currency markets here: https://t.co/ERyiY47G5H https://t.co/ysyX7W3yGa
  • If you missed this week's session on IGCS where I discussed recent trends in positioning for the #DowJones, #SP500, $AUDUSD and $GBPUSD, discussing the outlook, check out the recording here - https://t.co/KpftLsNaTh
  • 🇦🇺 Westpac Leading Index MoM (SEP) Actual: 0.2% Previous: 0.5% https://www.dailyfx.com/economic-calendar#2020-10-21
Consumer Confidence Dips; Questions Abound on Q3 Consumer Activity

Consumer Confidence Dips; Questions Abound on Q3 Consumer Activity

2016-10-14 14:10:00
Omar Habib,
Share:

Talking Points:

- Consumer Confidence fell to lowest reading of 2016 in today’s University of Michigan reading.

- Long-term inflation expectations fell, increasing pressure on Federal Reserve officials.

-The USD weakened slightly on an overall limited market reaction.

On the heels of a strong Advance Retail Sales reading this morning, the University of Michigan Consumer Confidence survey showed a weak read of 87.9 versus the 92 expectation and 91.2 previous print; producing the weakest reading since September 2015. A strong consumer is vital to a strong US economy. Consumption is approximately 70% of US Gross Domestic Product and has been the primary driver of US GDP this year. While the headline GDP reading for Q2 was only 1.4%, Personal Consumption Expenditures grew 4.3%. Consumption kept GDP above water, which was being dragged down by negative growth in government spending and private investment.

One of the things the Fed has been highlighting in the past few months has been falling survey-based inflation expectations. Market-based inflation expectations have been low for years now but survey-based held steady until earlier this year. According to the University of Michigan survey, long-term expectations fell again to 2.4% from 2.6%, while short term expectations remained steady at 2.4%.

See the DailyFX economic calendar for Friday, October 14, 2016

Chart 1: USD/CAD 1-minute Chart: October 14, 2016 Intraday

Consumer Confidence Dips; Questions Abound on Q3 Consumer Activity

While the USD had a very limited reaction to the release of this data, look to 1:30pm EDT today for Chair Yellen to speak at the Boston Fed Conference.

--- Written by Omar Habib

To give feedback, e-mail feedback@dailyfx.com.

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

DISCLOSURES