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
EUR/USD
Bearish
Oil - US Crude
Mixed
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
Mixed
Gold
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
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.79%, while traders in EUR/GBP are at opposite extremes with 65.81%.See the summary chart below and full details and charts on FxNews: https://fxnews.org/?/sentiment https://t.co/pPMQB3Sgtf
  • Heads Up:🇲🇽 Economic Activity YoY (JUL) due at 11:00 GMT (15min)Expected: -10%Previous: -13.2%https://fxnews.org/?/economic-calendar#2020-09-25
  • Norges Bank - total liquidity has been unevenly distributed between banks, leading to considerable uncertainty over supply of NOK. Adds that they will offer fully allotted F-Loans at fixed rates with 1 day maturities
  • London put on national Covid watch list amid recent surge in cases
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule:Oil - US Crude: -0.29%Gold: -0.42%Silver: -1.13%View the performance of all markets via https://fxnews.org/?/charts#commodities https://t.co/OTTxCl6GJR
  • Spanish health minister says the government recommends a total lockdown in Madrid
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule:🇳🇿NZD: 0.18%🇦🇺AUD: 0.02%🇯🇵JPY: -0.05%🇨🇭CHF: -0.11%🇪🇺EUR: -0.22%🇬🇧GBP: -0.25%View the performance of all markets via https://fxnews.org/?/charts#currencies https://t.co/37yFAZ530P
  • There is a great debate about which type of analysis is better for a trader. Is it better to be a fundamental trader or a technical trader? Find out here:https://t.co/7kPzAoNoLG https://t.co/Fa4sDLIjww
  • 🇫🇷 Unemployment Benefit Claims (AUG)Actual: -171KPrevious: -172.2Khttps://fxnews.org/?/economic-calendar#2020-09-25
  • $GBP https://t.co/Gl9Hkc0nTr
Nasdaq 100 Index Falls on Consumer Sentiment Report

Nasdaq 100 Index Falls on Consumer Sentiment Report

2020-08-14 14:30:00
Thomas Westwater, Contributor
Share:

Consumer Confidence, Nasdaq 100 Index, COVID – Talking Points

  • University of Michigan Consumer Confidence remains suppressed
  • COVID-19 pandemic continues to affect consumers outlook
  • Nasdaq 100 index drops following consumer sentiment report

The University of Michigan’s preliminary consumer sentiment index crossed the wires at 72.8 versus expectations of 72.5 on Friday morning. The US equity space saw mixed behavior following the report, with the Dow Jones Index climbing near positive territory, however, the Nasdaq 100 index shifted lower into negative territory, down 0.59% at the time of writing. The Michigan data follows some mixed economic prints from earlier Friday morning, with retail sales coming in at 1.2% versus expectations of 2.1%, however, excluding autos, the figure rose 1.9%, beating expectations.

Nasdaq 100 Index Price Chart

NDX Index

Source: IG Charts

While the data for August is an improvement from July, the index remains well off its pre-COVID marks. This comes at a time when state economies across the country grapple with reopening parts of the economy amid rising deaths in recent weeks for the United States. Gauging the current feel on the economy through the Michigan survey’s current conditions index shows a reading of 82.5 versus the prior month’s 82.8 figure. As Fed Chair Powell remarked last month, the economic recovery will depend highly on the path of the virus and stopping the spread.

US Daily Deaths (Line: 7-Day Average)

US Daily Deaths

Source: The COVID Tracking Project

Traits of Successful Traders
Traits of Successful Traders
Recommended by Thomas Westwater
Traits of Successful Traders
Get My Guide

Looking forward, the expectations index printed 66.5 versus expectations of 65.5, and climbing slightly from the previous month’s print. According to the Surveys of Consumers Chief Economist, Richard Curtin, “Bad economic times are anticipated to persist not only during the year ahead, but the majority of consumers expect no return to a period of uninterrupted growth over the next five years.” When viewing the survey in whole, there is little positivity to extract from the report, and looking forward, it may be prudent to continue to keep an eye on the path of the virus and its relation to consumer expectations.

--Written by Thomas Westwater, Intern Analyst for FxNews.com

Contact and follow Thomas on Twitter @FxWestwater

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

DISCLOSURES