3:12 PM · 24 September 2019

Breaking: Greenback dips after soft US data

USD/JPY
Forex
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The US dollar has come under pressure in recent trade after the release of two worse than expected data points from the US. The worse news came from the September Conference Board consumer confidence which fell to 125.1 vs 133.0 expected after a prior reading of 135.1 - the highest since 2000. While the reading itself isn’t too bad, and looks worse due to the strong prior print the future expectations component also showed a marked drop to 95.8 vs 107.0 prior. At the same time the Richmond manufacturing index dropped to -9 from +1 previously, with an expected reading of +2.   

 

The market reaction saw both the EURUSD and GBPUSD move up to their daily highs with the fromer moving above the $1.10 handle and the latter up through $1.25. There’s also been a notable decline in USDJPY while TNOTE and Gold have gained. The US500 has dipped lower too. 

The greenback has fallen lower since the data was released with the USDJPY falling around 20 pips. Source: xStation

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