A series of disappointing US figures culminates with a big drop in consumer confidence: 86 points according to the Conference Board. This is a significant fall compared to last month’s 92.4 and to expectations. The dollar is retreating across the board, reversing some of the gains seen earlier: EUR/USD is around 1.2620, GBP/USD around 1.6220, USD/JPY at 109.50 and AUD/USD at 0.8725. Nevertheless, the falls are not significant. US CB Consumer Confidence was expected to tick down from 92.4 to 92.2 points in September, remaining around the post crisis highs. Consumption is behind the vast majority of the US economy, and confidence is considered to reflect future retail sales, although the correlation is not always clear. The US dollar continued advancing, albeit not in a linear fashion and was actually sliding just before the publication. EUR/USD traded around 1.2620, USD/JPY 109.60, GBP/USD around 1.6220 and AUD/USD around 0.8735. Earlier, the S&P/CS Composite-20 HPI rose by 6.7% annualized, less than 7.5% expected and printed a fall on a monthly basis. However, there was a change in methodology here, so the numbers may be skewed. The Chicago PMI for the month of September also fell short of expectations with a drop from 64.3 to 60.5 points, below 61.6 expected. In the European session, EUR/USD fell to a 2 year low of 1.2570, completely destroying support at 1.2660. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next EURJPY: Weakens, Maintains Downside Bias FX Tech Strategy 7 years A series of disappointing US figures culminates with a big drop in consumer confidence: 86 points according to the Conference Board. This is a significant fall compared to last month's 92.4 and to expectations. The dollar is retreating across the board, reversing some of the gains seen earlier: EUR/USD is around 1.2620, GBP/USD around 1.6220, USD/JPY at 109.50 and AUD/USD at 0.8725. Nevertheless, the falls are not significant. US CB Consumer Confidence was expected to tick down from 92.4 to 92.2 points in September, remaining around the post crisis highs. Consumption is behind the vast majority of the US economy,… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
