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.

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
Subscribe
Please try again
GBP/USD
Bearish
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
More View more
Real Time News
  • The Consumer Price Index, better known by the acronym CPI, is an important economic indicator released on a regular basis by major economies to give a timely glimpse into current growth and inflation levels. Learn how to better understand CPI here: https://t.co/nAa0fHq4Np https://t.co/mf9rsmIvaW
  • 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/7t4BzmLg8w https://t.co/mYWO0Eta0P
  • Sterling continues to contract into trend extremes and the focus is on a pending breakout in the weeks ahead. Get your weekly $GBP technical forecast from @MBForex here: https://t.co/ZvEMQuFjSs https://t.co/rMmq9cehnY
  • Japanese candlesticks are a popular charting technique used by many traders, and the shooting star candle is no exception. Learn about the shooting star candlestick and how to trade it here: https://t.co/mfwJ0sZLTs https://t.co/tm4k3IVzHr
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here: https://t.co/t9FlspUVZz https://t.co/FFMy5O9YoY
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/zEEUHZBx7g https://t.co/jZHcyAZ5SU
  • Further your forex knowledge and gain insights from our expert analysts on EUR with our free guide, available today: https://t.co/XtydfV5wS6 https://t.co/Iw9haaHAnn
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sr63f https://t.co/raO3gCGqQ6
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here: https://t.co/8A1QhwMVKo https://t.co/rWVlBs6H3c
  • The update to the US Consumer Price Index (CPI) is likely to sway the US Dollar during the Federal Reserve’s blackout period as the central bank braces for a transitory rise in inflation. Get your weekly $USD forecast from @DavidJSong here: https://t.co/JTuP7CLlyi https://t.co/tOvqn3Gdpc
US Dollar Unphased by Weak US PMI Figures

US Dollar Unphased by Weak US PMI Figures

Thomas Westwater, Analyst

US PMI’s, Initial Jobless Claims, US Dollar Talking Points:

  • US services and manufacturing PMI’s fall sharply for April
  • Business confidence flips pessimistic for first time in the indexes history
  • Initial jobless claims crossed the wires at 4427k claims earlier Thursday

US manufacturing and services PMI’s fell to 36.9 and 27.0 respectively for April according to Markit Economics. The preliminary figures for April provides the most timely information for the state of the economy amid the current coronavirus pandemic. The US Dollar was largely unchanged as the Markit data crossed the wires, revealing the worst drop on record for services business activity and manufacturing output.

US Dollar Chart (1-Min)

US Dollar Basket

Source: IG Charts

The greenback has been treading higher this week as investors continue to seek out the safety of the US currency amid economic turmoil spurred by COVID-19. Many fear that the global economy may already be in a recession as coronavirus halts economic activity around the globe. The data from Markit this morning showed that business confidence in the US turned negative for the first time in the indexes history.

IHS PMI’S Chart

US Markit IHS PMI

Initial jobless claims for the United States released earlier this morning showing a concerning figure for the state of the labor market. Initial claims for the week ending April 18 crossed the wires at 4427k claims. While Thursday morning’s figure is lower than the previous week, claims remain much higher than they did during the 2008 financial crisis.

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

DISCLOSURES