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
Oil - US Crude
Wall Street
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • Weekly Strategy Webinar starting in 13mins! https://t.co/lxd5fZnn4H
  • Forex Update: As of 12:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.35% 🇪🇺EUR: 0.26% 🇨🇦CAD: 0.24% 🇬🇧GBP: -0.19% 🇨🇭CHF: -0.21% 🇯🇵JPY: -0.23% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/ZggGcyxXJq
  • 🇮🇳 Inflation Rate YoY (JUN) Actual: 6.09% Expected: 5.3% Previous: 5.91% https://www.dailyfx.com/economic-calendar#2020-07-13
  • Hey traders! I'm sure you've all heard about trend trading. Sharpen your knowledge here: https://t.co/jkliL5sxj7 https://t.co/0MG5XPiDF6
  • Heads Up:🇮🇳 Inflation Rate YoY (JUN) due at 12:00 GMT (15min) Expected: 5.3% Previous: 5.91% https://www.dailyfx.com/economic-calendar#2020-07-13
  • RT @DanielGMoss: #Silver surging to fresh yearly highs as the RSI bursts into overbought territory Significant change in sentiment as pri…
  • Join @MBForex at 8:30 AM ET/12:30 PM GMT for his weekly strategy #webinar Register here: https://t.co/VAnAfZU02T https://t.co/fu8UmwtSkz
  • Heads Up:🇧🇷 BCB Focus Market Readout due at 11:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-07-13
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.95%, while traders in US 500 are at opposite extremes with 73.16%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/PQBbkVhsYC
  • Tune in to @CVecchioFX 's #webinar at 7:30 AM ET/11:30 AM GMT for insight on major event risk in the week ahead. Register here: https://t.co/X8TIhpKxtF https://t.co/cY4d8HuulB
All-New Headlines Dragging Down the Euro

All-New Headlines Dragging Down the Euro

2013-03-26 15:26:00
Boris Schlossberg, Technical Strategist

News about Cyprus is now drifting from the front pages, but downside pressure on the euro remains firmly in place on account of lackluster economic data and longer-term risk factors for the Eurozone economy.

After yesterday's tumultuous price action, the currency markets were decidedly more quiet in early-European trade today. EURUSD stabilized at the 1.2850 level as the Cyprus crisis started to fall off the front pages. In Cyprus, banks were likely to remain closed until Thursday while estimates from the finance minister suggested that uninsured depositors faced haircuts of up to 40%.

More: See Latest EURUSD Price Chart

Still, despite the brutal cost of the final settlement and the still-unknown ramifications of the deal, the markets were considerably calmer today as traders felt that the Eurozone weathered yet another financial crisis.

Spokesmen for Eurogroup President Joeren Dijsselbloem continued to backtrack from his earlier statement that depositor funds could now become part of any future Eurozone bank restructuring, a comment that only exacerbated risk-aversion flows as investors feared for the safety of bank funds across periphery economies.

The calm today, however, could simply be the pause that refreshes. As we noted yesterday, downside pressures on the EURUSD remain, and they have much more to do with the lackluster rate of economic activity in the region, not the latest saga on the sovereign debt front.

See related: Euro Crisis Averted, but New Problems Await

So far, there has been no evidence of any uptick in overall demand, and the longer this trend continues, the greater the pressure on the European Central Bank (ECB) to ease further. The economic calendar this week is relatively barren, but the retail sales data from Germany along with the employment figures due on Thursday could set up another downside move in the EURUSD pair if they miss market expectations.

Commodity Currencies That Really Rock

Meanwhile, commodity dollars have been the star performers this week. Both the Australian (AUD) and New Zealand (NZD) dollars are holding their own against the dollar. In New Zealand, much-better-than-expected trade balance numbers helped the kiwi to remain bid near the 8350 level as the country posted a surplus of 414 million versus only two million expected.

The Aussie has also been very firm, holding above the 1.0450 level. If risk appetite revives in the North American session, the pairs could make a run towards the 1.0500 and 8400 levels, respectively.

New US Economic Data in Focus

In North America, the economic calendar carries durable goods, consumer confidence, and housing data. New home sales are expected to decline slightly to 426K from 437K the month prior, but if the data surprises to the upside, it will be yet another sign of underlying strength in the US housing sector and give a further boost to prospects for US economic growth.

After yesterday's massive volatility, today's price action is likely to remain more subdued with some short covering possibly pushing the EURUSD towards the 1.2900 figure as tensions from Cyprus begin to disappear. Overall, however, longer-term concerns for the euro continue to fester, and the pair remains vulnerable to further downside pressure as the week progresses.

By Boris Schlossberg of BK Asset Management

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


News & Analysis at your fingertips.