Forex Signals Brief for Aug 25: German Data in Focus - Forex News by FX Leaders
German GDP in Focus

Forex Signals Brief for Aug 25: German Data in Focus

Posted Tuesday, August 25, 2020 by
Rowan Crosby • 2 min read

US Market Wrap

US markets put in an interesting session yesterday, marked by some up and down price action.

The SPX managed to push higher and price looks like it is trying its best to establish itself at these record-high levels.

Meanwhile, the USD, pushed lower early before recovering and as such had a big impact on the majors and especially GOLD. The yellow metal looked to be really rallying, only to give up most of its gains and end up back where it started.

The USD will continue to be an interesting trade this week, especially as we near Jackson Hole, with many expecting Fed boss Jerome Powell to adjust their inflation target.

The Data Agenda

Early in the European session much of the attention will be on the release of German data that could well impact the EUR/USD.

We get German GDP which is looking very soft at the moment followed by business climate.

In the US session, consumer confidence for August will be one to watch, while we also see more data on new home sales.

Forex Signal Update

The FX Leaders Team hit 5 winners from 6 trades for an 83% win rate to get the week started on the front foot.

If the price action continues, keep watching the forex signals page as there should be more opportunities ahead.

USD/CAD – Active Signal 

The USD/CAD is still looking weak and we remain short while this trendline holds.

USD/CAD
USD/CAD – 240min.

Silver – Active Signal 

GOLD was making news yesterday, however, SILVER is in a similar type of position. We are long here looking for a bounce.

Silver
Silver – 240min.

Cryptocurrency Update

ETH has managed to pull back above $400 on the back of another push higher in risk assets.

As I’ve been saying, Ethereum continues to be a real leader in the current market and is stronger than BTC at present.

ETH
ETH – 240min.
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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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