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Forex Signals Brief for Sep 1: The USD Continues to Fall – Forex News by FX Leaders – FX Leaders




Forex Signals Brief for Sep 1: The USD Continues to Fall – Forex News by FX Leaders

The USD is Soft

Posted Tuesday, September 1, 2020 by





Rowan Crosby



• 2 min read

US Market Wrap

US markets continue to push higher, but the real story is the ongoing weakness in the USD.

The Greenback broke through the critical 92.00 level on the US Dollar Index which opens the door to further downside. The falling USD helped the majors remain strong and there is growing speculation that there could be more to come, thanks to the Fed all but admitting we won’t be seeing rate hikes for some time.

Given it was months end, there were some mixed results in equity indexes, but the soft Greenback did help the likes of GOLD remain strong.

The Data Agenda

The day ahead appears to be a busy one on the data front and the action will get underway early in the European session.

Our UK colleagues return from a well deserved holiday and the GBP/USD will be looking at the latest data on Manufacturing PMI.

Meanwhile, the EUR/USD will see a number of top-tier data releases, with the main one being German employment data and manufacturing PMI. While CPI is also worth taking note of.

In the US, the main number today will be ISM manufacturing PMI, while we shuold also pay attention to the FOMC speakers who will be reiterating the Feds messaging of last week.

Forex Signal Update

The FX Leaders Team hit 2 winners from 3 trades yesterday, as we put together a solid week so far.

USD – Watching 

The US Dollar Index has broken through the lows at the 92.00 level as mentioned above and is really the trade to watch at the moment.

DXY
DXY – 240min.

Gold – Pending Signal 

GOLD has pushed back towards the all-important $2000 level, but while price remains under it, we are still considering a short.

Gold
Gold – 240min.

Cryptocurrency Update

ETH is once again making its run at the $440 level and is breaking through so far in the Asian session.

Ethereum is the leader at the moment, so we should watch this move with interest as it has implications for the entire sector including BTC.

ETH
ETH – 240min.

About the author



Rowan Crosby


// Asia-Pacific Analyst


Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.

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