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.

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
Subscribe
Please try again
Oil - US Crude
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
More View more
Real Time News
  • The British Pound could remain vulnerable against the US Dollar while perhaps looking to push higher against the Australian Dollar, Canadian Dollar and New Zealand Dollar.Get your market update from @ddubrovskyFX here:https://t.co/9iZa4oE4WQ https://t.co/wyhhb4Jqxa
  • Hang Seng Index Futures at Key Inflection Point, Top to Resume? - #HSI1! chart https://t.co/dYgRPKhc9h
  • Amazon Q2 Earnings: -EPS at $15.12, versus $12.28 estimate (23% higher) -Revenue at $113 billion, versus $115 billion estimate (1.7% lower) -Share price tumbled 7% during after-hours trade as the company reported a slight revenue miss and gave weak third-quarter guidance
  • 🇯🇵 Industrial Production YoY Prel (JUN) Actual: 22.6% Previous: 21.1% https://www.dailyfx.com/economic-calendar#2021-07-29
  • 🇯🇵 Retail Sales YoY (JUN) Actual: 0.1% Expected: 0.2% Previous: 8.3% https://www.dailyfx.com/economic-calendar#2021-07-29
  • The S&P 500 and Dow Jones could remain biased higher now that retail investors are back to aggressively shorting them. But, will recent shifts in sentiment materially change the broader outlook? Find out from @ddubrovskyFX here:https://t.co/RPirU4f4sp https://t.co/mY3CcB8c3q
  • Heads Up:🇯🇵 Retail Sales YoY (JUN) due at 23:50 GMT (15min) Expected: 0.2% Previous: 8.2% https://www.dailyfx.com/economic-calendar#2021-07-29
  • Heads Up:🇯🇵 Industrial Production YoY Prel (JUN) due at 23:50 GMT (15min) Previous: 21.1% https://www.dailyfx.com/economic-calendar#2021-07-29
  • 🇯🇵 Unemployment Rate (JUN) Actual: 2.9% Expected: 3% Previous: 3% https://www.dailyfx.com/economic-calendar#2021-07-29
  • The British Pound could remain vulnerable against the US Dollar while perhaps looking to push higher against the Australian Dollar, Canadian Dollar and New Zealand Dollar.Get your market update from @ddubrovskyFX here:https://t.co/9iZa4oE4WQ https://t.co/fT1DNXph5D
Euro Sets Weekly Low Despite the ECB's Call to Action

Euro Sets Weekly Low Despite the ECB's Call to Action

Benjamin Spier, Technical Strategist

The possibility of European Central Bank President Draghi’s bond purchasing plan becoming a reality increased during today’s European session, when the ECB’s monthly report said the bank might undertake action in the open market. The ECB also lowered its forecast for GDP growth and inflation in the Euro-zone. Furthermore, ECB’s Noyer said the bank must be ready to act quickly, and intervention must be big enough to have a significant effect on the market.

However, Euro trading did not react positively to the report, but continued to sell-off, possibly as a reaction to the lower forecasted growth and inflation; EURUSD set a new weekly low just short of 1.2300 in today’s session. The pair has been trading in an uptrend over the past two weeks, and might find support by the key 1.2300 level or the 50% retracement of the rally that took place in early August.

The ECB report was the only major news out of Europe thus far. Greek unemployment for May was reported at 23.1%, which the EU said is concerning. Additionally, the UK trade balance fell more than expected, reported at -4308 million British Pounds in June.

Trader should watch for the US trade balance and initial jobless claims which should both be released this afternoon.

EURUSD 15-minute: August 9, 2012

Euro_Sets_Weekly_Low_Despite_the_ECBs_Call_to_Action_body_eurusd_daily_chart.png, Euro Sets Weekly Low Despite the ECB's Call to Action

--- 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