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
Wall Street
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
  • Stocks appear to be in a corrective phase but could get put to the test; levels and lines to watch in the days ahead. Get your weekly equities forecast from @PaulRobinsonFX here:
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here:
  • Further your forex knowledge and gain insights from our expert analysts on AUD with our free guide, available today:
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here:
  • Trading Forex is not a shortcut to instant wealth, excessive leverage can magnify losses, and sentiment is a powerful indicator. Learn about these principles in depth here:
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here:
  • The Japanese Yen is eyeing the upcoming Bank of Japan rate decision and CPI figures, but JPY crosses will likely remain dependent on broader market sentiment. Get your weekly $JPY forecast from @FxWestwater here:
  • Consolidation or bull flag? A bull flag is a continuation pattern that occurs as a brief pause in the trend following a strong price move higher. Learn how to better spot these formations here:
  • Crude and Brent oil are on track to extend higher as Gulf Coast supply disruptions and a positive OPEC report bolster sentiment. Uranium is on a massive surge, aided by the famous Wall Street Bets group. Get your market update from @FxWestwater here:
  • RT @michaeljburry: Read thread.
Markets Heat Up On German Optimism and Weaker Euro PMI's

Markets Heat Up On German Optimism and Weaker Euro PMI's

Benjamin Spier, Technical Strategist

Signs of a return to volatility appeared in the currency markets during the European session, as the Euro dropped over 60 points against the US Dollar since last night’s open and then quickly reversed those losses later in the day, without a clear driving force to the sporadic trading.

Earlier in the session, EURUSD dropped over 30 points following a downward revision of the Euro-zone PMI’s for services in August. The composite output for the Euro-area has been negative for the past seven months. Following the PMI release, EURUSD found support right above the key 1.2500 level, which has provided support over the past few weeks. The pair also broke through a month and a half downward trend line.

However, shortly after, the Euro found some support and rallied over 50 points. The only positive story that was released around that time was about German Finance Minister Schaeuble’s comments; he said that the Euro will be a bit more stable next year; Schaeuble also said he doesn’t expect the troubles to be over. Most important, Schaeuble said he expects the Euro-zone to be in the same form, imlplying that he thinks Greece will still be in the fold next year.

Earlier in the day, a German sale of 10-year bonds failed to reach the maximum target of 5 billion Euros, and instead sold of for 3.61 billion Euro. The bonds were sold for a 1.42% yield. A spokesman for the German Federal Finance Agency said the disappointing sales were due to hesitance before tomorrow’s possible ECB rate cut, and don’t represent a permanent turning point.

Also today, EU President Van Rompuy said some countries’ bond yields are higher than economically justifiable, while other countries’ yields have become too low because they are looked at as refuge. He said the current situation is not sustainable, but did not directly reference the possible ECB bond purchase plan.

The other data released during the session was the Swiss interest rate, which was reported at -0.5%. Swiss Economy Minister Johann Schneider-Ammann said Franc strengthening pressures have eased. However, the minister also said the second half of 2012 could be tougher for the Swiss economy.

Later today, the Bank of Canada will decide the interest rate for September, the median expectation among Bloomberg surveyed economists is for the rate to be held at 1.00%.

EURUSD 1-hour: September 5, 2012

Markets_Heat_Up_On_German_Optimism_and_Weaker_Euro_PMIs_body_eurusd_daily_chart.png, Markets Heat Up On German Optimism and Weaker Euro PMI's

--- 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.