USD Overview

Yesterday, USD strengthened against most major currencies except NZD and CAD.

The flash PMI data will be released later at 2145 (SGT).

  • Flash Manufacturing PMI (Forecast: 53.5, Previous: 53.2 revised from 53.5)
  • Flash Services PMI (Forecast: 54.7, Previous: 54.6)

NZD/USD Outlook

Overall, NZD/USD is ranging across.

The New Zealand CPI q/q data (Actual: 0.7%, Forecast: 0.9%, Previous: -0.5%) released earlier today indicated an increase in inflation during the third quarter.

New Zealand banks will be closed next Monday in observance of Labor Day. Expect lower trading volume and volatility during the usual New Zealand market hours.

NZD/USD’s next support zone is at 0.65400 and the next resistance zone is at 0.67900.
With the positive inflation data, look for short-term buying opportunities of NZD/USD.


AUD/USD Outlook

Overall, AUD/USD is ranging across. Recently, AUD/USD bounced up from the key level of 0.71.

The Australian flash PMI data released earlier today indicated a slight slowdown in the expansion of the manufacturing sector while the services sector expanded at a faster pace.

  • Flash Manufacturing PMI (Actual: 54.2, Forecast: NA, Previous: 55.4 revised from 55.5)
  • Flash Services PMI (Actual: 53.8, Forecast: NA, Previous: 50.8 revised from 50.0)

AUD/USD’s next support zone is at 0.70400 and the next resistance zone is at 0.72200.
Look for buying opportunities of AUD/USD.


USD/JPY Outlook

Overall, USD/JPY is ranging across.

USD/JPY’s next support zone is at 104.200 and the next resistance zone is at 106.300.
Look for short-term selling opportunities of USD/JPY.


EUR/USD Outlook

Overall, EUR/USD is trending upwards. Recently, EUR/USD trended into the support zone of 1.17900.

The French flash PMI data will be released later at 1515 (SGT).

  • French Flash Service PMI (Forecast: 47.0, Previous: 47.5)
  • French Flash Manufacturing PMI (Forecast: 51.3, Previous: 51.2 revised from 50.9)

The German Flash PMI data will be released later at 1530 (SGT).

  • German Flash Services PMI (Forecast: 49.6, Previous: 50.6 revised from 49.1)
  • German Manufacturing PMI (Forecast: 55.0, Previous: 56.4 revised from 56.6)

The eurozone flash PMI data will be released later at 1600 (SGT).

  • Flash Manufacturing PMI (Forecast: 53.0, Previous: 53.7)
  • Flash Services PMI (Forecast: 47.1, Previous: 48.0 revised from 47.6)

Currently, EUR/USD is testing the support zone of 1.17900 and the next resistance zone is at 1.19800.
If the released PMI data are positive, indicating that the services sector is in expansion, look for buying opportunities of EUR/USD after it bounces off the support zone of 1.17900.


GBP/USD Outlook

Overall, GBP/USD is trending upwards. Recently, GBP/USD moved lower, breaking below the key level of 1.31.

The UK flash PMI data will be released later at 1630 (SGT).

  • Flash Manufacturing PMI (Forecast: 53.2, Previous: 54.1 revised 54.3)
  • Flash Services PMI (Forecast: 53.4, Previous: 56.1 revised from 55.1)

Currently, GBP/USD is moving towards the support zone of 1.30400 and the next resistance zone is at 1.32200.
If the released PMI data are better than forecasted, look for buying opportunities of GBP/USD after it bounces off the support zone of 1.30400.


USD/CAD Outlook

Overall, USD/CAD is trending downwards.

USD/CAD’s next support zone is at 1.30300 and the next resistance zone is at 1.32200.
Look for selling opportunities of USD/CAD.


GBP/JPY Outlook

Overall, GBP/JPY is trending upwards. Recently, GBP/JPY bounced off the resistance zone of 137.500.

The UK flash PMI data will be released later at 1630 (SGT).

  • Flash Manufacturing PMI (Forecast: 53.2, Previous: 54.1 revised 54.3)
  • Flash Services PMI (Forecast: 53.4, Previous: 56.1 revised from 55.1)

Currently, GBP/JPY is testing to break below the key level of 137. Its next support zone is at 135.350 and the next resistance zone is at 137.500.
Look for short-term selling opportunities of GBP/JPY if it breaks below the key level of 137.


EUR/JPY Outlook

Overall, EUR/JPY is ranging across. Recently, EUR/JPY broke below the key level of 124.

The French flash PMI data will be released later at 1515 (SGT).

  • French Flash Service PMI (Forecast: 47.0, Previous: 47.5)
  • French Flash Manufacturing PMI (Forecast: 51.3, Previous: 51.2 revised from 50.9)

The German Flash PMI data will be released later at 1530 (SGT).

  • German Flash Services PMI (Forecast: 49.6, Previous: 50.6 revised from 49.1)
  • German Manufacturing PMI (Forecast: 55.0, Previous: 56.4 revised from 56.6)

The eurozone flash PMI data will be released later at 1600 (SGT).

  • Flash Manufacturing PMI (Forecast: 53.0, Previous: 53.7)
  • Flash Services PMI (Forecast: 47.1, Previous: 48.0 revised from 47.6)

EUR/JPY’s next support zone is at 122.600 and the next resistance zone is at 124.750.
Look for selling opportunities of EUR/JPY.


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By Jin Dao Tai

JinDao Tai is an Entrepreneur, Award-Winning Forex Coach & Trainer, International Speaker and Multi-Million Dollar Trader. Starting out his career as an economic & financial consultant in Australia, one day he decided to change his life and pivoted into multiple entrepreneurship endeavours and eventually into managing a multi-million dollar portfolio.

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