US indices fell for a second consecutive day yesterday, constantly pressured by the threat of prolonged US-China trade talks and the implications for global growth. Singapore’s second quarter growth was revised slightly higher but missed forecasts.


US30USD Daily Chart

Source: OANDA fxTrade

  • The US30 index fell the most in five days yesterday amid heightened recession concerns

  • The index remains trapped between the 55-day moving average at 26,469 and the 200-day moving average at 25,579

  • US consumer prices probably rose 0.3% m/m in July, the latest survey of analysts shows. That’s an acceleration from June’s 0.1% print. An above-forecast reading would question the Fed’s expected easing cycle.


DE30EUR Daily Chart

Source: OANDA fxTrade

  • The Germany30 index fell for a second straight day yesterday, pressured by Wall Street’s direction and the cloud of an uncertain Brexit

  • The index is flirting with the 200-day moving average at 11,658

  • German CPI is seen unchanged at +0.5% m/m and +1.7% y/y in July, the latest poll of economists shows.


SG30SGD Daily Chart

Source: OANDA fxTrade

  • The Singapore30 index fell for a second straight day yesterday and could fall further this morning following the worse-than-expected revision to second quarter growth

  • The index could test last week’s low, which in turn was the lowest since June 11

  • The Singapore economy contracted 3.3% q/q in the second quarter, the latest revision to growth data indicated. That’s an improvement from the first estimate of -3.4% but much worse than the -2.9% that had been expected.

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities.

Opinions are the authors — not necessarily OANDA’s, its officers or directors. OANDA’s Terms of Use and Privacy Policy apply. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Analysis feed

Latest Forex Analysis

Editors’ Picks

EUR/USD trades below 1.1100 amid fears of US-EU trade war, mid-East flare up

EUR/USD has kicked off the week below 1.1100, close to its closing levels on Friday. Fears of US tariffs against the EU and the fallout from the attack on Saudi oil installations weighs.


GBP/USD slips below 1.2500 ahead of Johnson-Juncker meeting

GBP/USD is trading below 1.2500, off the highs. UK PM Johnson will meet EC Commission President Juncker to discuss Brexit amid reports of progress. Tensions in the Middle-East and uncertainty ahead of the Fed impact markets.


USD/JPY looking to close the bearish opening gap amid risk-off

USD/JPY gapped down to 107.44 on Monday’s open as risk appetite is diminished following the attack on Saudi Arabian oil facilities. The spot now trades near 107.80, aiming to close the bearish opening gap ahead of a big week. 


Forex Today: Oil prices skyrocket after attack on Saudi installation, Chinese economy slows, Brexit talks continue

Here is what you need to know on Monday, September 16: A drone attack on a Saudi oil facility knocked down around 50% of the Kingdom's output and 5% of global production.

Read more

Gold prices shot higher by over 1% in risk-off start to the week

Gold prices have shot higher in the open this week due to the increased tensions in the Middle East following the attack on Saudi Arabia’s oil and gas facilities in Abqaiq which has suspended half of the kingdom’s processing.

Gold News

Forex Majors