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
More View more
Real Time News
  • US Dollar Outlook: Fed Decision Due - Will it Spark Fireworks? The $DXY edged lower on Tuesday with $EURUSD, $GBPUSD, and $USDJPY all feeling Dollar weakness. Will the Fed catch markets off-guard with another hawkish surprise tomorrow? Link to Analysis -
  • Crude oil prices are trading largely unchanged following last week's rebound as the Delta variant of Covid and Chinese regulatory measures temper the near-term demand outlook. Get your market update from @FxWestwater here:
  • USD/JPY price action has weakened sharply on the session but is searching for support. Get your $USDJPY market update from @RichDvorakFX here:
  • RT @BrendanFaganFx: Nasdaq 100 Outlook: Stocks Decline Despite Stellar Tech Earnings, All Eyes Shift to Fed $AAPL $MSFT $GOOG $QQQ $NDX L…
  • $SPX put in for an impressive midday recovery this past session leaving a large lower wick. The scale of the lower wicks consistently larger than corrections off highs
  • 🇰🇷 Consumer Confidence (JUL) Actual: 103.2 Previous: 110.3
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.53% 🇬🇧GBP: 0.44% 🇨🇭CHF: 0.13% 🇦🇺AUD: -0.32% 🇨🇦CAD: -0.46% 🇳🇿NZD: -0.60% View the performance of all markets via
  • US API Stock Changes Crude -4.728M Cushing -0.126M Gasoline -6.226M Distillate -1.882M #OOTT $CL_F
  • RT @Nadex: The Macro Setup is back! Tune in as @GuyAdami, @RiskReversal, and special guest @CVecchioFX discuss: -Stocks lower ahead of big…
  • Heads Up:🇰🇷 Consumer Confidence (JUL) due at 21:00 GMT (15min) Previous: 110.3
Germany Sends Mixed Messages About Possible ECB Bond Purchases

Germany Sends Mixed Messages About Possible ECB Bond Purchases

Benjamin Spier, Technical Strategist

We’ve become accustomed to mixed messages from different leaders within the Euro-zone, but today we saw seemingly contradicting messages from German officials. German Deputy Spokesman Georg Streiter said the government backs European Central Bank action as announced by Draghi and has no doubt the central bank will do everything within its mandate. Meanwhile, a Bundesbank spokesman said the bank is still opposed to bond purchases and CDU’s

It’s unclear if Streiter’s comments were intended to specifically support bond purchases, rather the spokesman might have been trying to instill a feeling of calm into the markets, as he also said the government urges ‘more calm’ in the Euro crisis debate.

Meanwhile, Italian PM Mario Monti did just the opposite of Streiter’s suggestion during an interview with Germany’s Der Spiegel magazine, where he continued to continued to talk about the impending dangers to the Euro if action wasn’t taken. Italy and Spain were both reported to be holding off from officially asking for help until they hear further details from the ECB about the possible bond buying program.

In other economic news, Greece’s annual inflation rate was measured at 1.3% in July. Halifax reported that annual house prices have remained steady due to static supply and demand, but prices were down 0.6% in July. Also, Euro-zone Sentix investor confidence was slightly better than expected, but still worse than July, reported at -30.3.

While all major European currencies gave back a lot of Friday’s gains against US Dollar in today’s session, the British Pound dropped the most. GBPUSD is down nearly a hundred points since last night’s open, currently trading right above 1.5500. Cable has been trading in a near-sideways channel over the past month, and most recently found support near 1.5500. 1.5717 has provided resistance for the near two-month trend.

GBPUSD 15-minute: August 6, 2012

Germany_Sends_Mixed_Messages_About_Possible_ECB_Bond_Purchases_body_gbpusd.png, Germany Sends Mixed Messages About Possible ECB Bond Purchases

--- 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.