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
Subscribe
Please try again
EUR/USD
Bullish
Oil - US Crude
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
Wall Street
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
Gold
Bullish
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • Heads Up:🇨🇭 Unemployment Rate (APR) due at 05:45 GMT (15min) Expected: 3.3% Previous: 3.4% https://www.dailyfx.com/economic-calendar#2021-05-07
  • 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: https://t.co/Blrl0uF2Ct https://t.co/vTQL8Xy7DA
  • Trading Forex is not a shortcut to instant wealth, excessive leverage can magnify losses, and sentiment is a powerful indicator. Learn about these principles in depth here: https://t.co/lZFM8youtX https://t.co/b4xjlLMx2o
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 87.10%, while traders in France 40 are at opposite extremes with 80.76%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/dlo1iyakWu
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.13% 🇪🇺EUR: 0.03% 🇨🇭CHF: 0.02% 🇳🇿NZD: -0.03% 🇦🇺AUD: -0.08% 🇨🇦CAD: -0.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/DFYLycgM4p
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: France 40: 0.59% Germany 30: 0.55% FTSE 100: 0.47% US 500: 0.07% Wall Street: 0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/Bl2cnt8tKJ
  • Ahead of Friday's NFPs, the Dollar took a dive this past session which has set back a DXY inverse head and shoulders and pushed a EURUSD rising wedge. But the pair taking most advantage of the Greenback slip: $USDCAD. Watch this pair and the Dollar ahead: https://www.dailyfx.com/forex/video/daily_news_report/2021/05/07/Dollar-Break-Disarms-Bigger-Reversal-Before-NFPs-Canadian-Dollar-a-Big-Mover.html https://t.co/WiHjD9XBRI
  • The Canadian Dollar may resume its broader advance against the Japanese Yen given the less-dovish scope of the BoC compared to the BoJ now and perhaps in the long run.Get your $CAD market update from @ddubrovskyFX here:https://t.co/LjuvBh7pL3 https://t.co/ItAq5lCrLj
  • 🇨🇳 Balance of Trade (APR) Actual: $42.85B Expected: $28.1B Previous: $13.8B https://www.dailyfx.com/economic-calendar#2021-05-07
  • Heads Up:🇨🇳 Balance of Trade (APR) due at 03:00 GMT (15min) Expected: $28.1B Previous: $13.8B https://www.dailyfx.com/economic-calendar#2021-05-07
US Dollar Swings on NFP Report Beat, Unemployment Below 9%

US Dollar Swings on NFP Report Beat, Unemployment Below 9%

Rich Dvorak, Analyst

AUGUST 2020 NFP REPORT: US DOLLAR EDGES HIGHER AFTER NONFARM PAYROLLS BEAT

  • US Dollar is trading slightly higher owing to a positive NFP report that topped market forecast
  • Nonfarm payrolls increased by 1.3-million and the unemployment rate dropped to 8.4%
  • Traders await the Wall Street opening bell to see if stocks can recoup prior session losses

The US Dollar is trading modestly higher with the DXY Index up by about 0.15% immediately after the release of August 2020 nonfarm payrolls data. The US labor market added 1.37-million jobs last month, which beat market estimates looking for 1.35-million job additions for the headline figure.

US DOLLAR INDEX PRICE CHART: 5-MINUTE TIME FRAME (04 SEP 2020 INTRADAY)

DXY Index US Dollar Price Chart Reaction to August 2020 NFP Report

Perhaps most notable out of the latest NFP report is how the US unemployment rate dropped to 8.4%. Not only did the unemployment rate come in lower than consensus estimates, but it also has fallen below 10% for the first time since the economy was roiled by the coronavirus pandemic earlier this year.

The overall solid NFP report is likely helping provide a bid to the US Dollar as the ten-year Treasury yield creeps up above 66-basis points, but perkiness reflected by the DXY Index might be undermined by technical resistance posed by the 93.00-price level. Gold prices are trading lower by about 0.5% and probing a big support zone as US Dollar strengthening is likely keeping the precious metal under pressure.

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

DISCLOSURES