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
Wall Street
Bearish
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
  • 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:https://t.co/XrpV0jcy8e https://t.co/g2To3LmUah
  • RT @michaeljburry: Read thread.
  • The Australian Dollar has retraced from August lows when looking at AUD/JPY and AUD/CAD. However, the AUD/NZD downtrend is intact, will a reversal there appear as well? Find out: https://t.co/8LmgqLLGJO https://t.co/AueigVsuk4
  • The S&P 500, Dow Jones and DAX 30 could be at risk of falling as retail traders continue increasing their upside exposure in these indices. What are the key technical levels to watch for? Find out from @ddubrovskyFX here:https://t.co/OJByiwIppr https://t.co/P1iOONG90N
  • The US Dollar continues to hold its ground against most ASEAN currencies as recent downtrends lose momentum. What is the road ahead for USD/SGD, USD/THB, USD/PHP and USD/IDR? Find out from @ddubrovskyFX here:https://t.co/UcleaZEAaW https://t.co/62bGLvt8fE
  • The Canadian Dollar has been caught in broad ranges against the Euro and the US Dollar, but can the upside bias in USD/CAD and EUR/CAD prolong? Find out here:https://t.co/8DubboXsjv https://t.co/A0sIYo2iP1
  • Want to hear my thoughts on the US Dollar? Check out yesterday's recording with #AuzBiz hosted by @KaraOrdway on 'The Trade' We discussed a #USD index, Treasury yields, $USDJPY, $AUDUSD and $NZDUSD https://t.co/yxwquL1btp https://t.co/RtWjlN6kpv
  • Gold has plunged nearly 5% off the Monthly high with the sell-off now probing key weekly support here at 1738/47- looking for a pivot here with the Fed interest rate decision on tap. Get your $XAUUSD market update from @MBForex here:https://t.co/Vnxi41lETt https://t.co/FyZuHNzsU3
  • Feels like the market has been front-running next week’s FOMC announcement, which will reveal updated dot plot projections. Expectations clearly set for a more hawkish shift in guidance. That said, if the Fed does not deliver, US Dollar bulls could be disappointed. $USD $DXY https://t.co/o2v6ibac3L
  • USD/CAD has been chopping around the past week-and-a-half, offering virtually no cues on its next direction. Get your market update from @PaulRobinsonFX here:https://t.co/eq1YkOa3mC https://t.co/V6h8BjyeGa
EU's Barnier: 'No German Resistance to Joint Banking Supervision'

EU's Barnier: 'No German Resistance to Joint Banking Supervision'

Benjamin Spier, Technical Strategist

Despite criticisms from numerous German officials over the past few days about the EU’s proposed joint banking supervision plan, European Commissioner Michel Barnier said today that there is no German resistance. However, Barnier also said that there will be compromises on the supervisor plan, likely referring to his reported negotiations with Germany.

Barnier’s comments sent the Euro above 1.3000 against the US Dollar following an initial boost by a better than expected UK public sector net borrowing. A 4-month high currently sits at 1.3171, which could provide resistance, and support could be provided by the key 1.3000 figure.

Turning to Greece, German Finance Ministry Spokesman Kotthaus said he doesn’t know when the Troika will submit the new Greece report. However, he said that Greece has had an impressive debt cut. Greek coalition leaders are supposed to agree on 11.5 billion Euros of budget cuts to present to the Troika, and reports were released overnight that the party leaders are closer to agreeing on a plan.

In Italy, Undersecretary of Finance Gianfranco Polillo said that neither Italy nor any other country would preemptively ask for the ECB’s bond purchases. He said that the sovereign debt yields would have to jump for Italy to ask for help. Polillo also said that Italy is looking for 6.5 billion Euros in cuts, in hopes of avoiding a rise in VAT. The budget comment was quickly followed by a 30 point decline in EURUSD.

In England, BoE Governor Mervyn King said that missing deficit targets is acceptable, if the reason is due to a poor economy. Also, BoE’s Dale said the initial signs from the funding for lending scheme are encouraging.

In the North American session, the Canadian CPI will be released at 12:30 GMT. Follow the release with Currency Analyst David Song here.

EURUSD 1-hour: September 21, 2012

EUs_Barnier_No_German_Resisatance_to_Joint_Banking_Supervision_body_eurusd_daily_chart.png, EU's Barnier: 'No German Resistance to Joint Banking Supervision'

--- 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