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.

Free Trading Guides
EUR/USD
Bullish
Oil - US Crude
Mixed
Wall Street
Bullish
Gold
Bearish
GBP/USD
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
USD/JPY
Bullish
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 trio of central banks overseeing the commodity currencies have already cut their main rates to all-time lows. Get your market update from @CVecchioFX here: https://t.co/OSUXrN5P3j https://t.co/3nwDel6e28
  • The tension from March continues to subside, allowing for the $USD to slide to fresh two-month-lows. Get your currencies market update from @JStanleyFX here: https://t.co/bRSRjUqg6Z https://t.co/Q35YpIZEd2
  • López Obrador hopes #USMCA will help tighten trade relationships between the US and Mexico. Get your currencies market update from @HathornSabin here: https://t.co/bZrUKSCGaS https://t.co/MZ7UoiWWRj
  • The $AUD may suffer as relations between Australia and China deteriorate amid dwindling growth prospects. Euro traders will be closely watching progress in talks about a €500b recovery fund proposal. Get your market update from @ZabelinDimitri here: https://t.co/LkEFJViPWY https://t.co/sofO135ElG
  • The US Dollar could rise against #ASEAN currencies such as the Singapore Dollar as US-China tensions seem to escalate. The Indian Rupee is also looking ahead of local 1Q GDP data. Get your ASEAN currencies market update from @ddubrovskyFX here:https://t.co/LkEFJViPWY https://t.co/ZGFaQQ3Hr2
  • The #Euro is the big driver here for DXY as it is 57% of the index. It is rising now and trying to break above the March 27 high at 11147. Get your $EURUSD technical analysis from @PaulRobinsonFX here:https://t.co/6gt3F9LuGP https://t.co/73SaL5AeXD
  • U.S. Market Analyst at https://t.co/JsVsSmefgR, Shain Vernier covers - ✔️ Safe haven assets in volatile markets ✔️ Central banks and governments ✔️ How will commodities trade in a recession Only on Trading Global Markets Decoded #podcast. Tune in here: https://t.co/1UmEzEbwiy https://t.co/EIC9YqfTec
  • Anybody else think that casting directors in movies are some of the most underrated people when it comes to giving a film/series credit?
  • No https://t.co/EoBltaP17k
  • Crude #oilprices may face heightened liquidation pressure as the cycle-sensitive #commodity finds itself under the pressure of resilient resistance and a vulnerable, multi-week rising channel. Get your crude #oil market update from @ZabelinDimitri here: https://t.co/cGPX4qcOH1 https://t.co/0U4JMJVFuf
French PM Hollande to Visit Greece in Show of Confidence

French PM Hollande to Visit Greece in Show of Confidence

2012-10-19 10:52:00
Benjamin Spier, Technical Strategist
Share:

Following the official approval of the joint banking supervisor during the summit of EU leaders, the Euro has consolidated some of the gains made during the anticipation in the days before the summit, thereby adhering to the old saying, ‘buy the rumors and sell the news’.

ECB’s Nowotny called the EU’s timetable for the ECB to step into the role of the banking supervisor realistic. Nowotny said the ECB will be a fully functioning supervisor by the beginning of 2014, and possibly be ready to supervise a few banks even earlier than that. It seems that the target of a functional bank supervisor by January of 2013 has be been put aside.

Also, Nowotny said that Europe’s recovery is weaker than expected and that 2013 growth will not be as strong as hoped. Regarding inflation, Nowatny said he doesn’t see an inflation problem, but the central bank would be ready to act immediately on any inflation concerns. Finally he said that the ECB has no exchange rate target. Nowotny’s comments sent the Euro lower towards 1.3050 against the US Dollar.

Also announced today, French PM Hollande will be visiting Greece in the coming days in what he calls a show of confidence. Hollande said Greece’s future is in the Euro-zone. Following the end of the EU summit and the end of the talks between Greece and the Troika, we could expect to hear more about the plan for 13.5 billion budget cut and the plan for the next bailout payment.

EURUSD first fell from 1.3075 at the beginning of the session, following BoJ’s Shirakawa’s comments that the Euro-zone economy is gradually slowing. He said the global economy is still at risk of a slowdown, but complimented the US economy for gradually improving. Surprisingly, the Euro made more of a move after his comments than the Yen did.

EURUSD could find resistance here at 1.3055, by the 38.2% retracement of the pair’s rise from the all time low to the all time high. Support could be provided by the key 1.3000 line.

EURUSD Daily: October 19, 2012

Following_the_official_approval_of_the_joint_banking_supervisor_during_the_summit_of_EU_leaders_the_Euro_has_consolidat_body_eurusd_daily_chart.png, French PM Hollande to Visit Greece in Show of Confidence

--- 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

News & Analysis at your fingertips.