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
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
Oil - US Crude
Wall Street
More View more
Real Time News
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here:
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here:
  • Get your snapshot update of the of top level exchanges and key index performance from around the globe here:
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here:
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here:
  • What are some trading takeaways from 2020, as we jump into the new year? Find out with your free guide here: #DailyfxGuides
  • Trading Forex is not a shortcut to instant wealth, excessive leverage can magnify losses, and sentiment is a powerful indicator. Learn about these principles in depth here:
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here:
  • Copper is on track to make a sixth consecutive monthly gain as prices inch towards its all-time high. The global backdrop remains supportive despite a short-term pause in the rally. Get your market update from @FxWestwater here:
  • Retail trader signals still hint that the Dow Jones and S&P 500 may be at risk, placing the focus on year-long rising trendlines to see if dominant upside biases hold.Get your market update from @ddubrovskyFX here:
The New Epicenter for Eurozone Problems

The New Epicenter for Eurozone Problems

Boris Schlossberg, Technical Strategist

Lost in all the chaos over the Cyprus banking crisis was Italy, which is still without a functioning government. Now, with Cyprus fading from the front pages, it is once again Italy weighing most heavily on the euro.

The euro tumbled to fresh lows for the year, breaking the 1.2800 barrier in early-European dealing as confidence surveys in the region showed further deterioration and focus started to shift to Italy, which still remains without a government nearly a month after the elections.

In Europe, the slew of confidence surveys showed further weakening as business confidence deteriorated to 90 from 91.1 the month prior, while consumer confidence printed as expected at -24.

As we noted here yesterday, the key issues that are driving the euro lower have less to do with sovereign debt and banking crises in the periphery and more to do with the lack of overall demand, which resulted in continued contraction of economic activity across the region.

With Cyprus now off center stage, the focus in FX has shifted back toward Italy, which actually represents a much bigger and more serious problem for the Eurozone. The political uncertainty in Italy remains while the country is unable to form a functioning government.

Yesterday, Pier Luigi Bersani, leader of the Democrats, came away empty-handed after meeting leaders of the People of Liberty (PDL) party, which is led by former Italian Prime Minister Silvio Berlusconi.

Berlusconi and company stuck to their position that the two groups should form a power-sharing grand coalition, but with no deal done, the country remains in a gridlock that is no doubt starting to weigh on the EURUSD.

See related: All-New Headlines Dragging Down the Euro

Another reason for today's early euro weakness was the persistent rumor of a Moody's downgrade of Italian debt. Given the lackluster results of today's BTP auctions, where the yield on the five-year notes rose to 3.65% from 3.59% the period prior, those concerns may be warranted.

The euro remains under strong selling pressure, and the EURUSD pair could tumble further towards the 1.2750 level if risk-aversion flows accelerate into today’s North American trade.

By Boris Schlossberg of BK Asset Management

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