OctaFX | OctaFX Forex Broker
Open trading account

US durable goods and consumer confidence data will garner attention on Tuesday – TDS

Analysts at TD Securities (TDS) offered a brief highlight of Tuesday trading action and preview of the upcoming US macro releases – durable goods and consumer confidence data.

Key quotes:

“Risk sentiment has stabilized somewhat overnight, but we think this will prove temporary. Virus contagion concerns are likely to remain a FX market driver for some time to come. We think tactical positioning favors a defensive playbook.”

“We forecast a 0.3% m/m decline in durable goods orders, largely explained by a retreat in the nondefense aircraft segment. The decline in the latter should offset a gain in ex-transportation orders, which we pencil in at +1.2% m/m.”

“Separately, the consensus is looking for a modest improvement in the Richmond Fed's manufacturing index to -3 in Jan from -5 in Dec, which would be consistent with the gains in the regional indices published so far.”

“Lastly, we anticipate a decent increase in the Conference Board's consumer confidence index, to 129.5 in Jan from 126.5 in Dec.”

GBP/USD likely to trade between 1.2900 and 1.3200 – UOB

FX Strategists at UOB Group expect Cable to remain sidelined in the 1.2900-1.3200 range in the near-term. Key Quotes 24-hour view: “GBP traded between
Read more Previous

US Dollar Index Price Analysis: Further gains now target the mid-98.00s

The upside momentum in the dollar remains well and sound for yet another session and is now lifting DXY to new YTD peaks beyond 98.00 the figure. Abov
Read more Next
Start livechat