ISM Day in the U.S.

The U.S. July ISM Manufacturing Index will be expected at 53.6 later today, it stood at 52.6 in June.

FED 7

Later today in the U.S., July ISM Manufacturing Index will be expected at 53.6, it stood at 52.6 in June. June Construction Spending are expected at +1.0% on month. Also, Final estimation of July Markit Manufacturing PMI will be expected at 51.3.

From a technical point of view, on a daily chart, Dollar Index has validated a bearish flag and remains on the downside, capped by its declining 50-day moving average (in blue). The daily RSI stands within its selling area. Readers may therefore consider the potential for further weakness as long as 96.30 is not broken to the upside. The nearest support would be set at horizontal support at 92.30. A second one would be set at previous overlap at 91.00.

Source: TradingView, GAIN Capital


More from Forex

From time to time, GAIN Capital Australia Pty Ltd (“we”, “our”) website may contain links to other sites and/or resources provided by third parties. These links and/or resources are provided for your information only and we have no control over the contents of those materials, and in no way endorse their content. Any analysis, opinion, commentary or research-based material on our website is for information and educational purposes only and is not, in any circumstances, intended to be an offer, recommendation or solicitation to buy or sell. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. No representation or warranty is made, express or implied, that the materials on our website are complete or accurate. We are not under any obligation to update any such material.

As such, we (and/or our associated companies) will not be responsible or liable for any loss or damage incurred by you or any third party arising out of, or in connection with, any use of the information on our website (other than with regards to any duty or liability that we are unable to limit or exclude by law or under the applicable regulatory system) and any such liability is hereby expressly disclaimed.