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
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here:
  • US indices have a packed week ahead with earnings from the major technology names, US GDP data due and an FOMC rate decision. With so much on the docket the potential for volatility is heightened. Get your stock market forecast from @PeterHanksFX 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:
  • 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:
  • The US Dollar Index traded higher last week, sustaining its broader uptrend. Conflicting technical signals urge caution, but the directional bias remains skewed to the upside. Get your weekly USD technical forecast from @FxWestwater here:
  • 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:
  • The Australian Dollar still remains vulnerable as it extends losses against its major counterparts. What is the road ahead for AUD/USD, AUD/JPY, AUD/NZD and AUD/CAD? Get your AUD technical forecast from @ddubrovskyFX here:
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Learn about the importance of the ISM manufacturing index here:
  • Take a closer look visually at the most influential global importers and exporters here:
  • EUR/USD tumbled last week on the day of the ECB’s latest policy announcement, and that weakness is set to continue this week as a flood of major Eurozone economic statistics is released. Get your weekly Euro forecast from @MartinSEssex here:
Euro Rises on Speculation that ECB Might Ignore Bundesbank Objections

Euro Rises on Speculation that ECB Might Ignore Bundesbank Objections

Benjamin Spier, Technical Strategist

Despite the Bundesbank’s opposition to an ECB bond purchasing program, such a plan seemed more likely today, as commentators said that we should consider ignoring Bundesbank objections because the ECB might act anyways. The Telegraph’s International Editor Ambrose Evans-Pritchard wrote this morning that the newspaper confirmed a Spiegel report that the ECB is considering a plan to cap Spanish and Italian bond yields. Fitch’s David Riley also said that the central bank may act without the Bundesbank’s approval.

The other major issue driving the Euro crisis, Greece’s need for additional bailout payments, also seemed to be slightly improved in today’s trading. Greece’s Samaras will meet with Luxembourg’s Juncker today to start a week of talks that will also include discussions with Merkel and Hollande. Today, Germany’s CDU’s Norbert Barthle, a Merkel ally, said that small concessions are possible for Greece as long as they show a willingness to meet the main budget targets.

The risk appetite caused by these two developments sent the Euro 125 points higher against the US Dollar, up to a new 2-week high at 1.2425. The rally pushed the Euro out of a 2-week triangle and resistance might next be found at 1.2435, by the 61.8% retracement from July’s decline.

Finnish PM Katainen also weighed in on the crisis fighting measures by saying that Finland will work to improve Euro stability, and the currency remains useful for Finland. It was also reported today that Finland’s unemployment rate fell to 6.9% in July, from June’s 7.9% rate.

In other economic news, the UK reported a 1.2 billion Pound budget surplus for July, but still borrowed 0.6 billion Pounds during the month despite expectations for the government to repay some loans. Spanish borrowing costs fell in today’s sale of 12-month and 18-month bills; the country sold 4.51 billion Euros of debt versus a 4.5 billion target.

At 16:00 GMT, the meeting begins between Samaras and Juncker.

EURUSD 15-minute: August 21, 2012

Euro_Rises_on_Speculation_that_ECB_Might_Ignore_Bundesbank_Objections_body_eurusd_daily_chart.png, Euro Rises on Speculation that ECB Might Ignore Bundesbank Objections

--- 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.