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.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Bullish
Oil - US Crude
Bullish
Wall Street
Mixed
Low
High
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
Gold
Bullish
Low
High
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
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/eRTdlhAOFN
  • The Japanese #Yen may continue to exhibit a bullish behavior as the Bank of Japan (BoJ) appears to be in no rush to alter the path for monetary policy. Get your #currencies update from @DavidJSong here: https://t.co/HFjc6KGzRw
  • The New Zealand Dollar appears poised to extend its climb against its haven-associated counterparts as long-term trend break hints at cyclical upturn. Get your $NZDUSD market update from @DanielGMoss here: https://t.co/CPxP1Q8B6d https://t.co/n2wESiqnpJ
  • The US Dollar may rise against ASEAN currencies like the Singapore Dollar if local retail sales and sentiment data disappoints. USD/IDR may fall on the Bank of Indonesia. Get your market update from @ddubrovskyFX here:https://t.co/HpH8pXFdLl https://t.co/laHmaZXpJe
  • The US Dollar may rise against the Singapore Dollar and Philippine Peso. USD/MYR’s downtrend holds, but a bullish pattern brews. USD/IDR seems stuck between key technical levels.Get youe #ASEAN currencies market update from @ddubrovskyFX here:https://t.co/TF6DRVp6kX https://t.co/WEtxkdSwxD
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here: https://t.co/UVvf51HiVP https://t.co/4wlRjBTCzK
  • The #Dollar has bottoming potential, but that is starting to lose weight as it fails to sustain any lift; next week could be a big one for #USD’s near-term outlook. Get your #currencies update from @PaulRobinsonFX here: https://t.co/IifHjik7gM https://t.co/R9b4jdTPnO
  • Emotions are often a key driving force behind #FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Read on and get your emotions in check here:https://t.co/eILWbFgHRE https://t.co/lW1rqjpy0x
  • I’d like to thank my followers, I just reached 5,000 which is quite a milestone for someone that isn’t a huge fan of the platform. Thank you all very much ❤️
  • Technology stocks continue to be a source of weakness for US equities, undermining risk appetite. Meanwhile, US-China tensions simmer beneath the surface creating uncertainty. Get your #equities update from @PeterHanksFX here: https://t.co/yH8oTwT3iW https://t.co/tvfrXThyaC
From Italy to Germany, Euro-Zone Growth Looks Bleaker in Today's Session

From Italy to Germany, Euro-Zone Growth Looks Bleaker in Today's Session

2012-08-07 11:38:00
Benjamin Spier, Technical Strategist
Share:

The picture that was painted of the Euro-zone economy by today’s economic releases was not a pretty one. Italy confirmed expectations for a fourth straight quarter of economic contraction, the country’s GDP declined 0.25% in 2Q according to a preliminary estimate. Italian industrial production also dropped in June, falling 1.4%, which was worse than expected. In Germany, factory orders also fell more than expected, down 1.7% in June.

The mostly worse than expected data suggests that the Euro-zone has yet to begin a rebound from an economic bottom, as both the strongest and weakest of economies disappointed already negative expectations.

Meanwhile, the Swiss economy continued to shine despite the Euro debt crisis that sits right next door and plagues Switzerland’s biggest trade partner. Swiss unemployment remained at 2.7% and deflation was not was bad as expected, with prices dropping 0.7% annually. The Swiss Finance Minister responded to the deflation numbers by saying that the Swiss National Bank will continue to support a EURCHF floor as long as there is no inflation trend.

The British Pound led a rally of major European currencies against the US Dollar following the news of the less than expected Swiss deflation. GBPUSD climbed 50 points beyond the key 1.5600 line and resistance could now come in at 1.5717, by the top of a two-month trading range. EURUSD continued to trade within a week-long 100 point trading range, centered around 1.2400.

No further comments were heard today regarding a possible ECB bond purchase program, but the EU said it stands by the 120% deficit-to-GDP commitment by 2020. However, the spokesman said that the debt target is ambitious.

GBPUSD 15-minute: August 7, 2012

From_Italy_to_Germany_Euro-Zone_Growth_Looks_Bleeker_in_Todays_Session_body_gbpusd.png, From Italy to Germany, Euro-Zone Growth Looks Bleaker in Today's 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.

DISCLOSURES