News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
More View more
Real Time News
  • Forex Update: As of 03:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.31% 🇨🇦CAD: 0.17% 🇬🇧GBP: 0.16% 🇪🇺EUR: 0.14% 🇳🇿NZD: 0.13% 🇨🇭CHF: 0.12% View the performance of all markets via
  • The #HSI looks set to re-challenge the 28,970 resistance. Will it succeed and attempt 30,000 mark today?
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in EUR/JPY are at opposite extremes with 64.29%. See the summary chart below and full details and charts on DailyFX:
  • Japanese Chief Cabinet Secretary Kato: - Vaccine schedule can't be fixed before approval - Tokyo area still facing severe Covid situation - BBG $USDJPY
  • The British Pound may continue gaining ground against its haven-associated counterparts in the near term. However, the currency may give up gained ground against the New Zealand Dollar.Get your $GBP market update from @DanielGMoss here:
  • Not the most common of the Dollar-based majors, but $NZDUSD has tentatively broken its persistent bull trend while net spec futures positioning (COT) hit its highest level since May 2018
  • 🇨🇳 FDI (YTD) YoY (DEC) Actual: 6.2% Previous: 6.3%
  • Wall Street Futures Update: Dow Jones (+0.13%) S&P 500 (+0.21%) Nasdaq 100 (+0.43%) [delayed] -BBG
  • While the US Dollar has been holding its ground, its downside bias against the Singapore Dollar, New Taiwan Dollar Thai Baht and Indonesian Rupiah remains intact as it hovers at support. Get your market update from @ddubrovskyFX here:
  • Asia-Pacific stocks look set to trade higher after US Treasury secretary nominee Janet Yellen showed her support to Biden’s US$ 1.9 trillion fiscal stimulus plan - a boost to energy, industrial and information technology sectors in particular.
Guest Commentary: Spain- Cutting Pensions Could Break the Camel's Back

Guest Commentary: Spain- Cutting Pensions Could Break the Camel's Back

Yohay Elam, ForexCrunch,

Many have wondered how Spain keeps going on with an unemployment rate of around 25%. How come there aren't riots on the streets?

There are three main reasons cited for the stability, but one of these could now collapse.

What are the legs of the Spanish stool?

  1. Welfare state: despite the cuts, Spain still pays out to the unemployed through various programs. People can still receive a minimum payment.
  2. Underground economy: Some say that the 25% figure is somewhat exaggerated, as many people perform various types of work and report as unemployment. The phenomenon is common in Spain, more than in other places.
  3. Family ties: Families certainly help each other in Spain - those who are better off help members that aren't doing well. One example is going back to living with your parents - something that weighs on the already struggling job market.

Another aspect of this help for the younger generations (where unemployment is much higher), is through pensions: older people use some of their pension money to help out their children and grandchildren.

This is about to change: pension payouts will be trimmed in various forms, including CPI calculations. In addition, the government is discussing a rise in the retirement age. A cut in pensions means that pensioners will have less money for the younger ones.

Will this take the younger ones back to the streets? The popular M-15 movement is still active, but far from its peak in the spring of 2011. Many feel that they cannot bring about a change. Some are leaving the country.

Could pensions serve as the straw that will break the camel's back?

Further reading: 50 Top Forex Twitter Accounts

By Yohay Elam, ForexCrunch

Would you like to see more third-party contributors on DailyFX? For questions and comments, please send them to

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.