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US Dollar Technical Video Analysis

HotForex | Oct. 2, 2017
US Dollar Technical Video Analysis

The Trump bump seemed to get renewed life last week on the release of tax reform plans. How does this affect US dollar? Let's look into this 2 October US Dollar Technical Video Analysis from HotForex.

2 October, HotForex - The September nonfarm payrolls will be the attention-getter which expected at 20k increase after the disappointing 156k gain in August. The September manufacturing ISM (Monday) should slip to 57.5 on the drag from Hurricane Irma, after a stronger than expected 2.5 increase to 58.8 in August.

United States Market Outlook

Construction spending for August (Monday) is expected to be unchanged. September vehicle sales (Tuesday) are expected to improve to a 17.0 mln clip, from 16.0 mln previously, though there’s downside risk from the hurricanes.

The September ADP (Wednesday) should climb 190k following Augusts 237k surge. There should be little hurricane effect here given the way the data is tabulated. The services ISM (Wednesday) is seen edging up to 55.5 after rising 1.4 points to 55.3 previously. The August trade deficit (Thursday) is forecast narrowing to -$42.5 bln versus July’s -$43.7 bln.

2 October US Dollar Technical Video Analysis

The euro saw fresh lows in early London trading as European participants follow the moderate offered tone that the common currency has been seeing in Asia-Pacific. Catalonia’s attempt at an independence vote, and Madrid’s heavy-handed response, has been weighing on sentiment.

The dollar has been bid in early week trading amid a relatively thin session in Asia, where China, Hong Kong and a number of other nations have been enjoying public holidays.

Disclaimer

2 October US Dollar Video Analysis article was written by Stuart Cowell, the  Market Analyst at HotForex. This article is provided as a general marketing communication for information purposes only. It does not constitute an independent investment research. Nothing in this communication contains an investment advice or an investment recommendation. It also does not contain a solicitation for the purpose of buying or selling of any financial instrument.

All information comes from reputable sources. Hence, any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Any investment of this nature involves a high level of risk for which the users are solely responsible and liable.

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.