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
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
  • RT @BrendanFaganFx: IBEX 35 Analysis: Rally Continues Despite Virus Fears, Focus Shifts to Fed Link:…
  • RT @FxWestwater: Asia AM - Australian Dollar Forecast: $AUDUSD May Rise on Chinese Industrial Profits Link: https:…
  • 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:
  • 🇰🇷 GDP Growth Rate QoQ Adv (Q2) Actual: 0.7% Expected: 0.7% Previous: 1.7%
  • 🇰🇷 GDP Growth Rate YoY Adv (Q2) Actual: 5.9% Expected: 6% Previous: 1.9%
  • 🇰🇷 GDP Growth Rate QoQ Adv (Q2) Actual: 0.7% Expected: 0.7% Previous: 1.7%
  • Heads Up:🇰🇷 GDP Growth Rate QoQ Adv (Q2) due at 23:00 GMT (15min) Expected: 0.7% Previous: 1.7%
  • Heads Up:🇰🇷 GDP Growth Rate YoY Adv (Q2) due at 23:00 GMT (15min) Expected: 6% Previous: 1.9%
  • (Weekly Technical) Australian Dollar Outlook Still Biased Lower: AUD/USD, AUD/JPY, AUD/NZD, AUD/CAD #AUD $AUDUSD $AUDJPY $AUDNZD $AUDCAD
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here:
Sterling Rallies Against the Euro Amidst a Quiet Summer Session

Sterling Rallies Against the Euro Amidst a Quiet Summer Session

Benjamin Spier, Technical Strategist

The British Pound emerged again as the clear winner of an otherwise quiet summer European session. UK retail sales (excluding auto sales) beat expectations by remaining unchanged in July, while June sales numbers were revised to record highs.

The UK data sent the Pound to a new August high against the Euro, EURGBP is currently trading only about 20 points above .7800. Meanwhile, Sterling temporarily rose above 1.5700 against the US Dollar before coming back down below what has proven to be a key short-term resistance line. EURGBP continued a year long downward trend in today’s trading, support could come in at the 4-year low, by .7751.

Also, the ZEW Credit Suisse Survey indicated that Swiss investors’ confidence improved in August, but remained overall negative. The Euro-zone annual inflation rate came in unchanged in July at 2.4%. Neither of these news releases had significant impact on the markets.

We also found out today that French President Hollande will be joining Merkel and Samaras for talks about the Euro-zone. The schedule now stands that on August 23, Hollande and Merkel will meet in Berlin, the next day Merkel will host Greek PM Samaras. Then, Samaras will go to Paris to meet with Hollande.

Finally, we heard from the EU that Spain has yet to submit an official request for the 100 billion Euro bailout for its financial system, but the EU said they will be ready to deal with the request quickly.

Looking ahead, US housing starts and building permits for July are set to be released in the North American session. Housing starts are expected to have fallen 0.5%, while building permits will have risen 1.2% according to Bloomberg surveyed analysts.

EURGBP 15-minute: August 16, 2012

Sterling_Rallies_Against_the_Euro_Amidst_a_Quiet_Summer_Session_body_eurgbp.png, Sterling Rallies Against the Euro Amidst a Quiet Summer 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.