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.



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
Oil - US Crude
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 Australian Dollar may extend its slide lower despite the planned easing of Covid-19 restrictions, as the market continues to price in an RBA rate cut on October 6. Get your #currencies update from @DanielGMoss here:
  • The Indian Rupee may be at risk to the US Dollar as USD/INR attempts to refocus to the upside. This is as the Nifty 50, India’s benchmark stock index, could fall further. Get your USD/INR market update here:
  • Technical indicators are chart analysis tools that can help traders better understand and act on price movement. Learn more about the importance of technical analysis here:
  • #Gold prices have plunged nearly 11% off the record highs with a breakout risking further losses. Here are technical trade levels that matter on the XAU/USD weekly chart. Get your #metals update from @MBForex here:
  • Traders tend to overcomplicate things when they’re starting out in the forex market. This fact is unfortunate but undeniably true.Simplify your trading strategy with these four indicators here:
  • GBP turbulence persists as investors eye the next round of EU-UK Brexit negotiations. Cautious optimism signals a deal is near. Get your #currencies update from @JMcQueenFX here:
  • An economic calendar is a resource that allows traders to learn about important economic information scheduled to be released. Stay up to date on the most important global economic data here:
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here:
  • There is a great debate about which type of analysis is better for a trader. Is it better to be a fundamental trader or a technical trader? Find out here:
  • Entry orders are a valuable tool in forex trading. Traders can strategize to come up with a great trading plan, but if they can’t execute that plan effectively, all their hard work might as well be thrown out. Learn how to place entry orders here:
US Dollar Rises as ISM NMI Drops to 2009 Low

US Dollar Rises as ISM NMI Drops to 2009 Low

2020-05-05 14:30:00
Thomas Westwater, Contributor

ISM Services NMI, US Dollar, COVID-19 – Talking Points:

  • ISM Services NMI drops to 41.8 for April, lowest since 2009
  • US Dollar rises following the report
  • Business activity down 22 percentage points from prior month

The Institute of Supply Management’s NMI survey for April crossed the wires at 41.8 Tuesday morning, beating expectations for 32. Despite the better than expected figure in the services sector, the April print represents a severe contraction in activity in the United States. US Dollar price action pushed higher following the harsh figure, which underscores the economic damage caused from the coronavirus pandemic and its resulting lockdowns across the United States.

US Dollar Basket (1-Min Chart)

US Dollar Chart

Source: IG Charts

Looking closer into the survey highlighted the economic damage inflicted on the services sector from stay-at-home orders across the United States for April. New orders dropped to 32.9 from 52.9, and business activity slipped to 26.0 from 48.0. The figures reflect the first contraction in the non-manufacturing sector since 2009, ending more than a decade of growth.

ISM Services

ISM Services PMI

Source: Bloomberg

Traits of Successful Traders
Traits of Successful Traders
Recommended by Thomas Westwater
Traits of Successful Traders
Get My Guide

Despite the affirmation of the United States already being in a recession in light of severely distressed economic data, US markets continue to push higher, with the Dow Jones Index up over 300 points Tuesday morning. This comes after a solid month for US markets in April, as economies laid out plans to begin reopening. Market participants will now look towards Friday's non-farm payrolls report, where the US economy is expected to lose 701k jobs for the month of April. The NMI survey's employment index registered 30 percent for April, representing a sharp contraction of 17 percentage points from March.

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