Trump halts stimulus talks until after the election
The 50-day moving average remains key for the GBPUSD: Chart
Share this:
Currencies saw increased volatility and U.S. indices were under pressure in late Tuesday trading after President Trump said he is stopping stimulus talks until after the election in a tweet.
The US Dollar was bullish against most of its major pairs on Tuesday with the exception of the JPY. On the US economic data front, the Trade Deficit increased to 67.1 billion dollars on month in August (66.2 billion dollars expected), from a revised 63.4 billion dollars in July, a level last reached in 2006. Finally, Job Openings fell to 6.49 million jobs on month in August (6.50 million jobs expected), compared to a revised 6.70 million jobs in July.
On Wednesday, the Mortgage Bankers Association's Mortgage Applications data for the week ending October 2nd is expected. Finally, the Federal Open Market Committee's Meeting Minutes for September 16th is also expected.
The Euro was bullish against most of its major pairs except for the CHF, JPY and USD. In Europe, research firm Markit has published September U.K. Construction PMI at 56.8 (vs 54.0 expected). The German Federal Statistical Office has posted August factory orders at +4.5% (vs +2.9% on month expected).
The Australian dollar was bearish against all of its major pairs after key rate decision by the reserve Bank of Australia (RBA). The dovish tone in the policy statement put some pressure on the AUD/USD as the pair declined approximately 61 pips.
GBP/USD declined 76 pips in Tuesday's trading making it the worst performing pair of the day. Key resistance remains at the 1.2985 area. The bias remains bearish on a daily chart until the pair breaks above its 50-day moving average (blue line) near the 1.3055 area. Key support rests at 1.2675 with main target of 1.251 on the downside.
Source: GAIN Capital, TradingView
Happy Trading
The US Dollar was bullish against most of its major pairs on Tuesday with the exception of the JPY. On the US economic data front, the Trade Deficit increased to 67.1 billion dollars on month in August (66.2 billion dollars expected), from a revised 63.4 billion dollars in July, a level last reached in 2006. Finally, Job Openings fell to 6.49 million jobs on month in August (6.50 million jobs expected), compared to a revised 6.70 million jobs in July.
On Wednesday, the Mortgage Bankers Association's Mortgage Applications data for the week ending October 2nd is expected. Finally, the Federal Open Market Committee's Meeting Minutes for September 16th is also expected.
The Euro was bullish against most of its major pairs except for the CHF, JPY and USD. In Europe, research firm Markit has published September U.K. Construction PMI at 56.8 (vs 54.0 expected). The German Federal Statistical Office has posted August factory orders at +4.5% (vs +2.9% on month expected).
The Australian dollar was bearish against all of its major pairs after key rate decision by the reserve Bank of Australia (RBA). The dovish tone in the policy statement put some pressure on the AUD/USD as the pair declined approximately 61 pips.
GBP/USD declined 76 pips in Tuesday's trading making it the worst performing pair of the day. Key resistance remains at the 1.2985 area. The bias remains bearish on a daily chart until the pair breaks above its 50-day moving average (blue line) near the 1.3055 area. Key support rests at 1.2675 with main target of 1.251 on the downside.
Source: GAIN Capital, TradingView
Happy Trading
Currencies saw increased volatility and U.S. indices were under pressure in late Tuesday trading after President Trump said he is stopping stimulus talks until after the election in a tweet.
The US Dollar was bullish against most of its major pairs on Tuesday with the exception of the JPY. On the US economic data front, the Trade Deficit increased to 67.1 billion dollars on month in August (66.2 billion dollars expected), from a revised 63.4 billion dollars in July, a level last reached in 2006. Finally, Job Openings fell to 6.49 million jobs on month in August (6.50 million jobs expected), compared to a revised 6.70 million jobs in July.
On Wednesday, the Mortgage Bankers Association's Mortgage Applications data for the week ending October 2nd is expected. Finally, the Federal Open Market Committee's Meeting Minutes for September 16th is also expected.
The Euro was bullish against most of its major pairs except for the CHF, JPY and USD. In Europe, research firm Markit has published September U.K. Construction PMI at 56.8 (vs 54.0 expected). The German Federal Statistical Office has posted August factory orders at +4.5% (vs +2.9% on month expected).
The Australian dollar was bearish against all of its major pairs after key rate decision by the reserve Bank of Australia (RBA). The dovish tone in the policy statement put some pressure on the AUD/USD as the pair declined approximately 61 pips.
GBP/USD declined 76 pips in Tuesday's trading making it the worst performing pair of the day. Key resistance remains at the 1.2985 area. The bias remains bearish on a daily chart until the pair breaks above its 50-day moving average (blue line) near the 1.3055 area. Key support rests at 1.2675 with main target of 1.251 on the downside.
Source: GAIN Capital, TradingView
Happy Trading
The US Dollar was bullish against most of its major pairs on Tuesday with the exception of the JPY. On the US economic data front, the Trade Deficit increased to 67.1 billion dollars on month in August (66.2 billion dollars expected), from a revised 63.4 billion dollars in July, a level last reached in 2006. Finally, Job Openings fell to 6.49 million jobs on month in August (6.50 million jobs expected), compared to a revised 6.70 million jobs in July.
On Wednesday, the Mortgage Bankers Association's Mortgage Applications data for the week ending October 2nd is expected. Finally, the Federal Open Market Committee's Meeting Minutes for September 16th is also expected.
The Euro was bullish against most of its major pairs except for the CHF, JPY and USD. In Europe, research firm Markit has published September U.K. Construction PMI at 56.8 (vs 54.0 expected). The German Federal Statistical Office has posted August factory orders at +4.5% (vs +2.9% on month expected).
The Australian dollar was bearish against all of its major pairs after key rate decision by the reserve Bank of Australia (RBA). The dovish tone in the policy statement put some pressure on the AUD/USD as the pair declined approximately 61 pips.
GBP/USD declined 76 pips in Tuesday's trading making it the worst performing pair of the day. Key resistance remains at the 1.2985 area. The bias remains bearish on a daily chart until the pair breaks above its 50-day moving average (blue line) near the 1.3055 area. Key support rests at 1.2675 with main target of 1.251 on the downside.
Source: GAIN Capital, TradingView
Happy Trading
Latest market news
Open an account in minutes
Experience award-winning platforms with fast and secure execution, and enjoy tight spreads from 0.5 pts on FX and 0.3 pts on indices.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
EUR/USD weekly outlook: Oil, inflation and NFP in focus
After coming under significant pressure in recent weeks, the EUR/USD came off its lows to finish the week on a positive note on Friday, albeit with only a mild rebound. That was not enough to prevent the exchange rate falling for the third consecutive week, as the US dollar and bond yields rallied across the board.
EUR/USD Q4 2026 Outlook: Euro at a Crossroads as Fed, ECB Tighten 9 25 2026
EUR/USD enters Q4 at a pivotal inflection point as competing Fed-ECB policy paths and persistent inflation risks collide with major technical support.
AUD/USD Q4 Outlook: RBA and Fed Hikes Set the Tone
AUD/USD enters Q4 with RBA and Fed hikes in focus as sticky inflation, rising unemployment and US dollar strength shape the Australian dollar.
This report is intended for general circulation only. It should not be construed as a recommendation, or an offer (or solicitation of an offer) to buy or sell any financial products. The information provided does not take into account your specific investment objectives, financial situation or particular needs. Before you act on any recommendation that may be contained in this report, independent advice ought to be sought from a financial adviser regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs.
StoneX Financial Pte. Ltd., may distribute reports produced by its respective foreign entities or affiliates within the StoneX group of companies or third parties pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the report is distributed to a person in Singapore who is not an accredited investor, expert investor or an institutional investor (as defined in the Securities Futures Act), StoneX Financial Pte. Ltd. accepts legal responsibility to such persons for the contents of the report only to the extent required by law. Singapore recipients should contact StoneX Financial Pte. Ltd. at 6826 9988 for matters arising from, or in connection with the report.
In the case of all other recipients of this report, to the extent permitted by applicable laws and regulations neither StoneX Financial Pte. Ltd. nor its associated companies will be responsible or liable for any loss or damage incurred arising out of, or in connection with, any use of the information contained in this report and all such liability is hereby expressly disclaimed. No representation or warranty is made, express or implied, that the content of this report is complete or accurate.
StoneX Financial Pte. Ltd. is not under any obligation to update this report.
Trading CFDs carries a high level of risk that may not be suitable for some investors. Consider your investment objectives, level of experience, financial resources, risk appetite and other relevant circumstances carefully. The possibility exists that you could lose some or all of your investments, including your initial deposits. If in doubt, please seek independent expert advice. Visit www.forex.com/en-sg/terms-and-policies for the complete Risk Disclosure Statement.