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
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
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.02% US 500: 0.02% Germany 30: -0.03% FTSE 100: -0.08% France 40: -0.09% View the performance of all markets via
  • US Dollar Price Action Setups: EUR/USD, GBP/USD $USD $EURUSD $GBPUSD
  • RT @CGasparino: BREAKING -- @JoeBiden Admin is in the early stages of developing a regulatory approach to the booming crypto biz, sources t…
  • The US Dollar is in correction within the yearly uptrend with the decline now eyeing initial support objectives just lower. Get your $USD technical analysis from @MBForex here:
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.03% Gold: -0.29% Silver: -0.57% View the performance of all markets via
  • The Dollar ($DXY) has cleared both its 50-day SMA and the midpoint of the 2021 range. What has greater pull: its roll as wayward safe haven (vs inverted $SPX) or the recent fade in returns (US 10yr). The 20-day correlation to both approximately ~0.8, strong
  • US Dollar Index (DXY) trend from last March picking up steam again. February and January lows up next on radar, could take a few weeks. Get your market update from @PaulRobinsonFX here:
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.55%, while traders in Germany 30 are at opposite extremes with 80.61%. See the summary chart below and full details and charts on DailyFX:
  • RT @ChadPergram: Biden now mtg w/bipartisan/bicameral mbrs about infrastructure. Says they're discussing "how to pay for it." Adds they "ho…
  • $WTI #Crude #Oil Price Outlook: Breakout Eyes Resistance- Bulls at Risk -
Euro in Focus as Markets Eye Upcoming European Council Meeting

Euro in Focus as Markets Eye Upcoming European Council Meeting

Dimitri Zabelin, Analyst


  • European Council meeting scheduled to take place December 13 - 14
  • Topics of discussion will include: Brexit, Italy budget, foreign affairs
  • Investors will be eyeing the Euro and any key policy announcements

Just started trading Euro? Check out our beginners’ FX markets guide!


European Union leaders will be convening at an EU Council meeting from December 13-14th to discuss pressing domestic and international issues. The region bloc has recently been struggling with political fragmentation that spells out potential trouble ahead of the 2019 EU parliamentary elections in the spring.

Some of the items on the agenda include structuring the 2021-2027 Multinational Financial Framework, finding a comprehensive approach to migration and “in light of recent events… other specific foreign policy issues”. Some of the more hot-button issues to be discussed will likely include Brexit, the Italian budget talks, trade wars and the 2019 outlook for growth.


On Monday, Prime Minister Theresa May called off a vote on her Brexit deal amid fears that it would not pass through parliament. The PM has not stated when the next vote will be held but the absolute latest will be on January 21st. The decision sent Pound Sterling lower against the Euro and all its major counterparts.

EUR/GBP After May’s Announcement

EUR/GBP - Daily Chart

On Wednesday, Italian Prime Minister Guiseppe Conte is reportedly meeting with the President of the EU Commission Jean-Claude Junker to negotiate Italy’s 2019 budget in an attempt to avoid punitive measurements for violating EU fiscal laws.

The situation in France has also thrown a wrench into the budget talks. The EU has been demanding Italy reduce its proposed 2.4% budget deficit to at least 1.9%. Meanwhile, French President Emmanuel Macron’s proposed budgetary changes will push France’s budget deficit – as a percent of GDP – to be around 3.5%. This crosses the EU’s threshold of 3.0%.


Investors during this time will likely be closely watching the Euro and be on the lookout for key comments from officials indicating possible directions policymakers are heading toward. As a result, the Euro may be more volatile in the coming days along with other European-denominated assets such as the Swiss Franc and Pound Sterling.

The spread between Italian and German 10-year bond yields has increased over 170% since May, indicating a greater reluctance to lend to Rome versus Berlin. However, since late November, the spread has been narrowing. This may be signaling a shift in investor’s outlook on EU-Italy budget negotiations.

Italian and German 10-Year Bond Yield Spread

Italian German 10-Year Bond Yield Spread - Daily Chart

This comes amid internal political fracturing and shifting views of Italians who are appearing to prefer an EU-friendly budget according to several polls conducted in late November. However, it is unlikely Deputy PM Matteo Salvini will back down, given that his popularity has emerged from standing up to Brussels as an anti-establishment politician. For him, compromise is capitulation. His resolve may continue to undermine the Euro, a currency which fundamentally relies on a sense of European unity, not defiance.


--- Written by Dimitri Zabelin, Jr Currency Analyst for

To contact Dimitri, use the comments section below or @ZabelinDimitrion Twitter

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