Trading the News: U.S. Durable Goods Orders
Demands for U.S. Durable Goods are expected to contract another 0.2% in August and the slowdown in private sector consumption may drag on the dollar as it limits the Fed’s scope to taper the asset-purchase program at the October 29-30 meeting.
Expectations:
Primary Pair Impact: EURUSD
Expected: -0.2%
Previous: -7.3%
DailyFX Forecast: -1.0% to 1.0% details
GBPUSD:
If the pair breaks the level 1.61006 than bearish movement will start. And to my mind it is better to sell to the 1.5998 level and the next level will be1.5895. details
-USDJPY ends the week on the lows and below the trendline that originated from the August low. Weakness below 97.75, the 9/18 low and trendline that originates from the June low, would indicate bearish resolution from the 3 month triangle (from June). Holding above 97.75 and trading through 100.60 would indicate bullish resolution.
Both GBPUSD and NZDUSD have enjoyed strong rallies recently and both have flagged into the end of this past week. Technicals offer tempting scenarios of heavy trend or sharp reversal depending on how we interpret them. Adding fundamentals to our checklist can help us better gauge breakout versus follow through. Amongst the myriad of factors that go into determine an exchange rate, there are two key fundamental dynamics that guide the market most of the time. Today's Forex Strategy video explains the importance of risk trends and interest rates using the appealing cable and NZDUSD as examples. details
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EURUSD
If the pair breaks the level 1.34990 than bullish movement is expected. And to my mind it is better to buy to the 1.35900 level and the next level will be 1.3648. details
- Risk-off in Asia has European FX losing ground to JPY, USD.
- ECB press conference to stoke more volatility than the rate announcement.
- Soft PMI Manufacturing could signal near-term pullback in UK growth momentum; PMI Construction today. details
EURUSD
If the pair breaks the level 1.35290 than bullish movement is expected. This moving is going to be to the level 1.35590 level and the next level will be 1.35980. details