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.

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
EUR/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
Oil - US Crude
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
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
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here: https://t.co/CNtqrLeetw https://t.co/1w7E3aiWV1
  • A “PIP” – which stands for Point in Percentage - is the unit of measure used by forex traders to define the smallest change in value between two currencies. Learn how to understand pips in forex here: https://t.co/AfAhmI7kAV https://t.co/JiZPRZzwgo
  • RT @IGSquawk: Crypto update: #Bitcoin 56398.30 -7.34% #Ether 2213.91 -7.42% #BitcoinCash 925.49 -12.24% #EOS 6.8039 -15.98% #Stellar 0.5276…
  • 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: https://t.co/BdgFmkzWwW https://t.co/rJUm1W9wrc
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/zEEUHZjVIG https://t.co/oZPoyPH2iw
  • Using margin in forex trading is a new concept for many traders, and one that is often misunderstood. Margin is the minimum amount of money required to place a leveraged trade and can be a useful risk management tool. Learn about margin trading here: https://t.co/qZCE5asCzM https://t.co/yN1I9FrfIS
  • There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency is the fundamental factor that prevails above them all. Learn how interest rates impact currency markets here: https://t.co/5l3O9aHQbL https://t.co/DFEfCIl7zF
  • Thin liquidity can concentrate volatility and nowhere is that more evident than with Dogecoin. $DOGEUSD was down as much as 38% today. Watch for heightened bouts of volatility amid quiet risk trends in the week ahead: https://www.dailyfx.com/forex/video/daily_news_report/2021/04/17/Dollar-Outlook-Ties-Into-Key-Data-Rate-Forecasts-and-Even-Dogecoins-Rally-.html https://t.co/JO7O7zUKe9
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/zEEUHZjVIG https://t.co/Vv3jZNbLWg
  • 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: https://t.co/BdgFmkzWwW https://t.co/9j004hyzUZ
Forex News: Sterling Passes Euro Following Mix of PMI Results

Forex News: Sterling Passes Euro Following Mix of PMI Results

Benjamin Spier, Technical Strategist

Between the end of an actual storm that just finished battering the Northeast of the US and a potential trading storm that could hit markets following today’s Non-farm Payroll changes and unemployment in the US, things have been pretty quiet thus far in the European session. Chatter and commentary from officials about the debt crisis and the struggling Greece and Spain have been practically non existent.

However, the Euro did manage to decline slightly over the past few hours. EURGBP declined thirty points and retested the key 0.8000 level following an in-line Euro-zone manufacturing PMI and a surprise expansion in UK construction activity over the course of October. Support could now be provided by the 100-day moving average, near 79.64.

October’s PMI for manufacturing in the Euro-zone marked the fifteenth consecutive month of decline in sector activity. However, the 45.4 PMI result was better than a previous estimate of 45.3, but that did not prevent the Euro from falling on the report.

The only other news in the session was out of China, where the PBOC released its quaterly monetary report. The PBOC said the economy is likely to remain stable with relatively fast growth, despite the fact that they see a slowing pace of global economic recovery. The central bank said they aim to keep the Yuan stable and monetary policy prudent. The report had no effect on major pairs trading in the forex markets.

Turning to the US employment data, remember that today’s release of NFP’s and unemployment rate is the last before the election and therefore is likely to have an effect on voters. Therefore, worse employment numbers are not only negative for the US economy and prospects on global recovery, but also could suggest a better chance for a Romney victory. Which, for example, would mean less stimulus according to those who say that Romeny will replace Bernanke with a more hawkish Fed chief, which could in turn be US Dollar positive according to people with that theory. Obviously, that’s a speculation on market thinking and not a prediction for price action, but the point is the employment results will have an extra factor weighing on market reactions.

EURGBP Daily: November 2, 2012

Sterling_Passes_Euro_Following_Mix_of_PMI_Results_body_eurgbp.png, Forex News: Sterling Passes Euro Following Mix of PMI Results

--- 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