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. See our updated Privacy Policy here.



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
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Find out about the recent history of ISM data, how to track it, and how to trade its release here:
  • US equities endured turbulent price action last week and could be positioned for further volatility as fundamental forces butt heads and investors look to negotiate the shifting landscape. Get your market update from @PeterHanksFX here:
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here:
  • Speculative stubbornness continues to hold back emergent fears like inflation and central bank moderation, but no certain of progress on that battle this week. While $NDX, $BTCUSD and Pound are on my radar, #Dollar tops my watch list:
  • AUD/USD remains range-bound but trend potential exists elsewhere in pairs such as AUD/JPY or AUD/CAD. Get your market update from @JStanleyFX here:
  • What are some technical and fundamental factors affecting the equities market? Get your free forecast here: #DailyFXGuides
  • The Federal Open Market Committee (FOMC) Minutes may drag on the price of gold as the central bank appears to be in no rush to switch gears. Get your market update from @DavidJSong here:
  • There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency is the fundamental factor that prevails above them all. Learn how interest rates impact currency markets 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:
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here:
Dropping Spanish and Italian Bond Prices Wake a Quiet Euro Session

Dropping Spanish and Italian Bond Prices Wake a Quiet Euro Session

Benjamin Spier, Technical Strategist

A calm was felt among the European majors during the first part of the session, as mid-level economic releases failed to move the Euro or Cable out of their tight twenty point ranges. However, as I write this article, EURUSD breaks lower along with the drop in prices of Italian and Spanish bonds.

Spanish benchmark 10-year bond yields climbed nearly ten basis points in today’s session to 7.02%, Italian yields were up nearly 6 basis points to 6.04%. While the fundamental source of the drop in bond prices and Euro is still unclear, we know that European finance ministers just began their conference call to discuss the Spanish aid deal.

The final amount for the aid plan will not be resolved today, but the ministers are expected to agree on the deal itself, and any disaccord could be viewed as disaccord. The German parliament approved the EFSF bailout yesterday, but Finance Minister Schaeuble said Spain will guarantee the loans.

As Spanish and Italian yield prices were rising, EURUSD dropped below the week-long upward trend channel that was providing support around 1.2250. The next support could be expected around the psychological 1.2200 line.

In other European news, UK public sector net borrowing for June was higher than expected at 12.1 billion Pounds. However, the negative currency effect of the higher deficit seemed to be neutralized by the low UK bond yields. German producer prices fell at the sharpest rate since December 2011, but this news also had no effect on today’s trading.

Later today, Canada will announce its consumer price index for June, a 1.7% annual inflation rate is expected.

EURUSD5-minute: July 20, 2012

Dropping_Spanish_and_Italian_Bond_Prices_Wake_a_Quiet_Euro_Session_body_eurusd_daily_chart.png, Dropping Spanish and Italian Bond Prices Wake a Quiet Euro Session

--- Written by Benjamin Spier, DailyFX Research

“Meet the DailyFX team in Las Vegas at the annual FXCM Traders Expo, November 2-4, 2012 at the Rio All Suite Hotel & Casino. For additional information regarding the schedule, workshops and accommodations, visit the FXCM Trading Expo website.”

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