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
  • #USDollar Outlook Bearish on Mnuchin & Powell Testimonies, Key US Data ⬇️
  • The London trading session accounts for around 35% of total average forex turnover*, the largest amount relative to its peers. The London forex session overlaps with the New York session. Learn about trading the London forex session here:
  • 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:
  • The Japanese #Yen may continue to exhibit a bullish behavior as the Bank of Japan (BoJ) appears to be in no rush to alter the path for monetary policy. Get your #currencies update from @DavidJSong here:
  • The New Zealand Dollar appears poised to extend its climb against its haven-associated counterparts as long-term trend break hints at cyclical upturn. Get your $NZDUSD market update from @DanielGMoss here:
  • The US Dollar may rise against ASEAN currencies like the Singapore Dollar if local retail sales and sentiment data disappoints. USD/IDR may fall on the Bank of Indonesia. Get your market update from @ddubrovskyFX here:
  • The US Dollar may rise against the Singapore Dollar and Philippine Peso. USD/MYR’s downtrend holds, but a bullish pattern brews. USD/IDR seems stuck between key technical levels.Get youe #ASEAN currencies market update from @ddubrovskyFX here:
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here:
  • The #Dollar has bottoming potential, but that is starting to lose weight as it fails to sustain any lift; next week could be a big one for #USD’s near-term outlook. Get your #currencies update from @PaulRobinsonFX here:
  • Emotions are often a key driving force behind #FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Read on and get your emotions in check here:
S&P 500: Summer Doldrums Persist, Looking to NFP as Source of Volatility

S&P 500: Summer Doldrums Persist, Looking to NFP as Source of Volatility

2016-09-01 11:28:00
Paul Robinson, Strategist

What’s inside:

  • The S&P 500 continues to wobble around with little net impact
  • Continuing to take it slow until market activity picks up, but…
  • Events like NFP could present opportunity for the nimble short-term trader

Since we last discussed the S&P 500 (on Monday) it’s had a few decent sized swings, but the net impact – virtually nil. We were looking to the drop below several August pivots in the 2168/72 vicinity as a confirmed break of the neckline of the August double-top (DT) pattern.

The preferred approach given this very dull summer market environment has been to fade levels upon failure and avoid chasing any type of price moves. So it was with the break of the double-top neckline, except the market never really turned lower once it bounced and retested the area surrounding 2170. The S&P sailed a bit higher before doing so.

Where does that leave us today? Good question. The S&P is no better or worse than it was in the middle of July, with very little movement in between.

The swing from yesterday’s low into today could be in the process of making a third lower high since peaking on 8/23. Trend-line resistance is keeping upside price action capped at this time. Until the market can hurdle this line a bearish tilt remains in place, but certainly not a strong bias given the two bounces we have seen in recent trade following attempts by the market to decline.

S&P 500: Summer Doldrums Persist, Looking to NFP as Source of Volatility

We continue to take the approach of trading only when volatility flares up (like Jackson Hole) and levels are touched and rejected. Indices aren't the best game in town right now, FX are moving with a bit better flow, but “it is what it is until it isn’t”. Which is likely soon. The summer lull will eventually come to an end as market participants file back in from summer vacation. Monday is Labor Day and markets in the US will be closed, but not long after activity begins to pick up. So, if you are looking for a silver lining, there it is...

But, before we pack it in for the week, tomorrow we have the U.S. jobs report due out at 12:30 GMT. This could present a good opportunity should we see a sizable deviation from expectations, especially with the FOMC coming up later this month and expectations of a rate hike increasing after Yellen spoke on Friday at the Jackson Hole Symposium.

The market is looking for an August non-farm payrolls figure of 180k, the unemployment rate to tick lower to 4.8% from 4.9%, and expectations are for average hourly earnings to notch lower to 2.5% YoY from 2.6% prior.

Later this morning, at 14:00 GMT, we have ISM Manufacturing data for August. Analyst are looking for a slight slowdown to 52 from 52.6 prior.

Find out what profitable traders are doing that others who struggle to turn a profit aren’t – “Traits of Successful Traders”.

---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinsonFX.

You can email him at with questions or comments.

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