The US ISM Non-Manufacturing PMI is a critical leading indicator. FXStreet’s Surprise Index points to a downside surprise. The US dollar may lose ground on the news. Will the Federal Reserve cut interest rates in September? That is the main question currency traders are asking and the answer – as the Fed puts it – depends on the data. … “Surprise index points to a downside surprise in the ISM Non-Manufacturing PMI”
Category: Forex news
AUD/USD Declines for Twelfth Session on Range of Factors
The Australian dollar declined today, falling for the twelfth consecutive session against its US counterpart. There were plenty of reasons for the decline: unfavorable domestic macroeconomic data, poor economic reports in China, escalation of US-China trade tensions. The Australian Industry Group Australian Performance of Services Index dropped from 52.2 in June to 49.3 in July. That was the biggest drop in a year. Furthermore, being below the neutral 50.0 level, the indicator suggested … “AUD/USD Declines for Twelfth Session on Range of Factors”
US Dollar Mixed After Fed Cut, Escalation of Tensions Between US & China
It was expected that the monetary policy decision of the Federal Reserve would be the major event this week. While the Fed had indeed a big impact on markets, ultimately it was overshadowed by new developments in the US-China trade conflict. The resulting risk aversion allowed the US dollar to rise against riskier commodity currencies but drove the greenback down versus safer currencies. The Fed cut interest rates by 25 basis … “US Dollar Mixed After Fed Cut, Escalation of Tensions Between US & China”
Swiss Franc Ignores Falling Consumer Prices
The Swiss franc rallied against other most-traded currencies today despite falling consumer prices in Switzerland. Risk aversion was the reason for the currency’s strength. Switzerland’s Federal Statistical Office reported that the Consumer Price Index fell 0.5% in July from the previous month after showing no change in June. Analysts had predicted a bit smaller decrease of 0.4%. Escalating trade tensions between the United States and China bolstered safer … “Swiss Franc Ignores Falling Consumer Prices”
Pound Falls On By-Election Results, Rallies Despite Upbeat NFP Report
The Sterling pound today fell to its daily lows as investors reacted to the results of a by-election where the ruling Conservative Party lost a crucial seat. The GBP/USD currency pair later rallied higher after the release of the upbeat US non-farm payrolls data in the early American session. The GBP/USD currency pair today fell to a low of 1.2090 in the Asian session before rallying higher back to its opening high of 1.2145 and was near these levels … “Pound Falls On By-Election Results, Rallies Despite Upbeat NFP Report”
US Dollar Mixed As Economy Adds 164k Jobs, Faces Renewed Trade Tensions
The US dollar is mixed at the end of the trading week as a new lower-than-expected July jobs report highlighted how robust the national economy is as a diverse array of industries enjoyed gains and more people entered the workforce. But the greenback contended with renewed trade tensions between the US and China, which sent leading stock indexes into negative territory in the early part of the trading session. According to the Bureau of Labor Statistics (BLS), the US … “US Dollar Mixed As Economy Adds 164k Jobs, Faces Renewed Trade Tensions”
Risk Aversion Prevents Aussie from Gaining on Positive Data
The Australian dollar dropped against other most-traded currencies today despite better-than-expected domestic data. Risk aversion, which prevailed on the Forex market after the announcement of new US tariffs on Chinese goods, did not allow the Aussie to profit from positive macroeconomic reports. The Australian Bureau of Statistics released a couple of economic indicators today. Retail sales rose 0.4% in June from the previous month, seasonally adjusted, after increasing 0.1% … “Risk Aversion Prevents Aussie from Gaining on Positive Data”
AUD/USD at the Possible Fragile 0.6800 Support
After such a strong decline, would the 0.6858 still be able to offer a surprise? Long-term perspective The steep decline that came after the confirmation of the double resistance etched by the upper line of the descending channel and the 0.7055 with 0.7013 resistance area managed to bring the price under the 0.6858 major support level, pausing at the 0.6800 psychological level. This movement, besides taking out the previous low that falsely pierced the 0.6858 level, … “AUD/USD at the Possible Fragile 0.6800 Support”
Australian Dollar Suffers from Risk Aversion
The Australian dollar tumbled today. While macroeconomic data, both domestic and from China, was not particularly bad, risk aversion on the Forex market hurt the Australian currency. The Australian Industry Group Australian Performance of Manufacturing Index climbed to 51.3 in July from 49.4 in June. Climbing above the 50.0 level, the indicator suggests that the sector returned to expansion. The import price index rose 0.9% in the June quarter from the previous three … “Australian Dollar Suffers from Risk Aversion”
US Dollar Higher on Fed Rate Cut Fallout, Capped by New Trump Tariffs
The US dollar is gaining on several major currency rivals in public trading on Thursday. But the US Dollar Index is heading in the opposite direction, falling below 98.5. The Federal Reserveâs cut to interest rates, President Donald Trumpâs new tariffs on China, and economic data are driving the greenbackâs trade. President Trump announced on Twitter that he will impose 10% tariffs on an additional $300 billion of Chinese goods, effective … “US Dollar Higher on Fed Rate Cut Fallout, Capped by New Trump Tariffs”