US Dollar Eyeing Durable Goods, Consumer Confidence Data to Fuel Rally
Here you can find all the latest breaking forex and currency news about US Dollar Eyeing Durable Goods, Consumer Confidence Data to Fuel Rally including currency analysis and forecasts, live foreign exchange rates, central bank interest rates, and currency trading strategies from experienced fx traders and forex platforms.
Talking Points:
- Japanese Yen Rebounds as Nikkei 225 Decline Boosts Safe-Haven Demand
- US Dollar Eyeing Durable Goods, Consumer Confidence Data to Fuel Gains
- See Economic Releases Directly on Your Charts with the DailyFX News App
The Japanese Yen outperformed, rising as much as 0.2 percent on average against its leading counterparts. The move lower tracked a drop in the benchmark Nikkei 225 stock index, hinting risk aversion bolstered demand for the safety-linked currency. The US Dollar corrected slightly lower in overnight trade after setting another six-month high yesterday in the wake of supportive remarks from Fed Chair Janet Yellen at the Jackson Hole Economic Symposium last week.
Looking ahead, a quiet economic calendar in European hours is likely to keep US monetary policy considerations in focus. The central issue on this front remains the expected time gap between October’s end of “QE3” asset purchases and the first subsequent interest rate hike. Near-term speculation will be informed by July’s Durable Goods Orders reading and Augusts’ Consumer Confidence gauge. The former report is expected to show an 8 percent gain, marking the largest increase in over three years. The latter is forecast to reveal a slight downtick in sentiment after the index hit a seven-year high in the prior month.
Yesterday’s soft New Home Sales figures notwithstanding, the overall trend in US economic news-flow has markedly improved since early April. Indeed, a Citigroup index measuring realized outcomes relative to consensus forecasts reflects the best performance in over six months. This hints that analysts are broadly underestimating the vigor of the US economy, opening the door for upside surprises that continue to propel the greenback upward.
New to FX? START HERE!
Asia Session
GMT |
CCY |
EVENT |
ACT |
EXP |
PREV |
22:45 |
NZD |
Trade Balance (NZ$) (JUL) |
-692M |
-475M |
242M |
22:45 |
NZD |
Trade Balance YTD (NZ$) (JUL) |
1287M |
1490M |
1191M |
22:45 |
NZD |
Imports (NZ$) (JUL) |
4.40B |
4.48B |
3.94B |
22:45 |
NZD |
Exports (NZ$) (JUL) |
3.70B |
3.98B |
4.18B |
23:30 |
AUD |
ANZ Roy Morgan Consumer Conf. (Weekly) |
113.5 |
- |
112.5 |
23:50 |
JPY |
PPI Services (YoY) (JUL) |
3.7% |
3.7% |
3.7% |
2:00 |
CNY |
Conference Board Leading Index (JUL) |
297.7 |
- |
294 |
5:00 |
JPY |
Small Business Confidence |
49.5 |
48.7 |
European Session
GMT |
CCY |
EVENT |
EXP |
PREV |
IMPACT |
8:30 |
GBP |
BBA Loans for House Purchase (JUL) |
44065 |
43265 |
Low |
Critical Levels
CCY |
Supp 3 |
Supp 2 |
Supp 1 |
Pivot Point |
Res 1 |
Res 2 |
Res 3 |
EURUSD |
1.3127 |
1.3163 |
1.3177 |
1.3199 |
1.3213 |
1.3235 |
1.3271 |
GBPUSD |
1.6365 |
1.6462 |
1.6520 |
1.6559 |
1.6617 |
1.6656 |
1.6753 |
--- Written by Ilya Spivak, Currency Strategist for DailyFX.com
To receive Ilya's analysis directly via email, please SIGN UP HERE
Contact and follow Ilya on Twitter: @IlyaSpivak
original source
The article above is about breaking forex and currency news regarding US Dollar Eyeing Durable Goods, Consumer Confidence Data to Fuel Rally, if you have any question about it. Please contact us by using the link below. Thanks for your patience.
- Japanese Yen Gains, Nikkei Falls as BOJ Leaves Policy Unchanged
- Chinese Business Sentiment Contracts for the First Time in 4 Months
- Dismal UK Retail Sales to Spur Another Test of GBP/USD Resilience
- Forex-Webinar:-FOMC-Minutes-Reinforce-Hike-Forecast
- Trading Video: Dollar Fails to Rally on Hawkish FOMC, Equities Rally
- Among Top Themes, Where is the Risk Most Potent: Fed Hike, China, EM?
- EUR/USD Technical Analysis: Looking to Short on Bounce
- US Dollar Declines as FOMC Minutes Bring Nothing New to the Table
- US DOLLAR Technical Analysis: USD Holds Support on FOMC Minutes
- WTI Crude Oil Price Forecast: What Now That $40bbl Broke?
- Fingertrp Scalping with James Stanley (Using Tradingview Charts)
- EUR/USD Risks Fresh Monthly Lows on Hawkish FOMC Minutes
- Analyst Pick - Kiwi & CAD in Focus
- Price & Time: USD/CAD ? It?s Showtime
- GBP/USD Ranges Ahead of FOMC Minutes
- President Xi Warns That China Faces Considerable Downward Pressure
- FOMC Minutes Later Today - USD Set for October 28 Redux
- Silver Price Is Targeting Its Yearly Low
- FTSE 100: Commodity Markets Wants to See The FTSE 100 at 6040
- DAX 30: Momentum Slows Down, FOMC Minutes on Tap
- US Dollar May Extend Gains as Fed Minutes Foreshadow Rate Hike
- Copper Surplus Faces Falling Premiums; Gold Slides before Fed Minutes
- China Real Estate Market Recovery Slows in October
- Traders Not as Confident of Fed Hike as Markets, Economists
- EUR/GBP Technical Analysis: Euro Drops to 3-Month Low
- Dollar Unmoved After China Treasury Holdings Hit a 7 Month Low
- Can Dollar Climb Continue After FOMC Forecast Shift?
- Dollar’s CPI Rally Lacking, Stall in Risk Raises Yen Crosses Appeal
- NZD/USD Technical Analysis: Short Trade Activated Sub-0.65
- Will the DAX Crack or Cower from Resistance?