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Forex News
  • Dollar Mixed Ahead Of NAHB Housing Market Index

    At 10 am ET Tuesday, the National Association of Home Builders is due to release its report on homebuilder confidence in the month of September. The housing market index is expected to come in unchanged after inching up to 66 in August.

    Ahead of the data, the greenback traded mixed against its major counterparts. While the greenback rose against the franc and the yen, it fell against the euro and the pound.

    The greenback was worth 108.26 against the yen, 0.9960 against the franc, 1.2431 against the pound and 1.1031 against the euro as of 9:55 am ET.


    The material has been provided by InstaForex Company - www.instaforex.com
  • U.S. Industrial Production Rebounds Much More Than Expected In August

    After unexpectedly reporting a modest drop in U.S. industrial production in the previous month, the Federal Reserve released a report on Tuesday showing industrial production rebounded by much more than anticipated in the month of August.

    The report said industrial production climbed by 0.6 percent in August after edging down by a revised 0.1 percent in August.

    Economists had expected industrial production to rise by 0.2 percent compared to the 0.2 percent dip originally reported for the previous month.

    The bigger than expected rebound in production came as manufacturing output rose by 0.5 percent in August, more than reversing the 0.4 percent decrease in July.

    The Fed noted factory output has increased 0.2 percent per month over the past four months after having decreased 0.5 percent per month during the first four months of the year.

    Mining output also showed a substantial rebound, surging up by 1.4 percent in August after tumbling by 1.5 percent in July. Output in July had been suppressed by a cutback in oil extraction in the Gulf of Mexico due to Hurricane Barry.

    Reflecting gains in both electric and natural gas utilities, utilities output increased by 0.6 percent in August after spiking by 3.7 percent in the previous month.

    The report also said capacity utilization for the industrial sector climbed to 77.9 percent in August after dropping to 77.5 percent in July. Capacity utilization had been expected to inch up to 77.6 percent.

    Capacity utilization for manufacturing increased to 75.7 percent, while capacity utilization for the mining and utilities sectors rose to 90.5 percent and 76.7 percent, respectively.


    The material has been provided by InstaForex Company - www.instaforex.com
  • Dollar Little Changed Following U.S. Industrial Production

    Following the release of U.S. industrial production for August at 9:15 am ET Tuesday, the greenback was unchanged against its major counterparts.

    The greenback was trading at 108.22 against the yen, 0.9957 against the franc, 1.2427 against the pound and 1.1022 against the euro around 9:16 am ET.


    The material has been provided by InstaForex Company - www.instaforex.com
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Forex Analysis
  • Technical analysis of GBP/USD for September 17, 2019

    analytics5d80dab6422b8.png

    Overview:

    The GBP/USD pair is having problem sustaining its bullish momentum after finding resistance at the 1.2504 level.

    We note clearly that the saturation set around the area of 1.2500.

    It should to notification that the level of 1.2504 is coincided with he double top in the H1 chart.

    The current rise will remain within a framework of correction. However, if the pair fails to pass through the level of 1.2504, the market will indicate a bearish opportunity below the strong resistance level of 1.2504.

    Therefore, a possibility that the GBP/USD pair will have downside momentum is rather convincing and the structure of a fall does not look corrective. In order to point out a bearish chance below 1.2504.

    If the GBP/USD pair fails to break out through the resistance level of 1.2504; the market will decline further to the level of 1.2295 (weekly support 2) in coming hours.

    However, the RSI is still signaling that the trend is upward as it remains strong above the moving average (100). So, it would also be sage to consider where to place a stop loss; this should be set above the second resistance of 1.2584.

    The material has been provided by InstaForex Company - www.instaforex.com
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