Stocks to Open Weak

Forex Signals Brief for Aug 21: A Host OF PMIs to End the Week

Posted Friday, August 21, 2020 by
Rowan Crosby • 2 min read

US Market Wrap

US markets pushed higher once again after another slight jump in US jobless claims.

Just as the trend had been moving lower, the number of new claims jumped back above the 1 million level, however, continuing claims are still on the right track.

The NASDAQ continues to lead the way at the moment, while the SPX is only just off the record-high levels. Meanwhile, the USD did begin to fall once again, but for now, is off its lows.

The Data Agenda

Most of the attention today will be in Europe, with a number of PMI releases likely to keep the EUR/USD and GBP/USD busy.

The main numbers to look out for will be German Manufacturing PMI which is looking at a slight improvement. While in the UK, we will see a number of PMI numbers.

Early in the session, the UK will also be releases retail sales data for July which shuold show a 2% increase.

In the US session, we will see retail sales data from Canada early on, while the only major number for US traders will really be existing home sales.


Forex Signal Update

The FX Leaders Team hit 2 winners from 3 trades yesterday, as the week has seen some back and forth price action.


USD/CAD – Active Signal 

The USD/CAD has fallen back away and the downtrend remains intact. We are short looking for more downside to come.

USD/CAD – 240min.


Gold – Active Signal 

GOLD has found some support around the $1920 level and we are long looking for a bounce.

Gold – 240min.


Cryptocurrency Update

For the time being, BTC remains under the $12,000 level, however, price really hasn’t fallen away. It is still holding the uptrend as well, so, for now, things aren’t all that bearish.

With ETH above the $400 level, this is still the trade to watch for a possible upside break.

ETH – 240min.
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