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.



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
Wall Street
More View more

BoE Chief Econimist (Hawk) is to Step Down From BoE After June Meeting

Real Time News
  • US 10yr Treasury yields have fallen further following the strong auction in the 30yr. After hitting a weekly high around 1.70% this morning, yields have dropped to a multi-day low around 1.625%. $USD
  • US 30yr Treasury auction: - Draw 2.320%, WI 2.338% (prev. 2.295%) - Bid/Cover Ratio: 2.47 (prev. 2.28) 30yr yields tightened to an intraday low following the auction.
  • #Gold Price Forecast: Gold Drifts Towards Range Extremes– $XAUUSD Levels -
  • - Sees inflation slightly exceeding 2% target this year - Don't expect inflation to be running out of control - The Fed has the tools to deal with unwanted higher inflation
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.42%, while traders in Germany 30 are at opposite extremes with 75.32%. See the summary chart below and full details and charts on DailyFX:
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Silver: 2.20% Oil - US Crude: 0.88% Gold: 0.69% View the performance of all markets via
  • Among the exceptions, Bitcoin continues to power ahead and IG client sentiment data are sending a bearish signal on GBP/JPY. Get your $GBPJPY market update from @MartinSEssex here:
  • - Supply shortages could limit GDP upside - Expecting consumer-price pressures this year - Long-term disinflationary forces should modulate prices
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.27% 🇯🇵JPY: 0.20% 🇨🇦CAD: 0.20% 🇨🇭CHF: 0.15% 🇦🇺AUD: 0.15% 🇬🇧GBP: 0.00% View the performance of all markets via
  • Fed's Barkin: - Hopeful that US is on brink of completing recovery - Expecting "really strong" spring and summer - Real-time indicators suggests US is "in midst of boom" #Fed $USD
Forex News: Technical Recession Can't Keep the Euro Down

Forex News: Technical Recession Can't Keep the Euro Down

Benjamin Spier, Technical Strategist

So the Euro-zone has entered a technical recession.

That seemed to be the attitude in currency markets as the Euro stayed higher against the US Dollar despite the report of a second quarter of a contracting economy. The GDP release was as expected, and therefore did not weigh on the single currency; instead comments from EU’s Rehn about a solution to Greece’s debt and higher than expected results for the French and Italian GDP kept demand for the Euro high.

European Union Economy Minister Rehn said work is ongoing on Greek debt sustainability and suggested that the European economy may have bottomed out. Rehn said there is no reason to doubt IMF involvement in the Greek bailout, and cutting loan rates is one way to guarantee Greece stability. Also, ECB member Asmussen said the ECB is working on a solution for Greece.

The ECB’s quarterly survey was less optimistic on the future of the Euro economy. The forecast for 2012 was cut to -0.5% from -0.3%, the 2013 economic growth forecast was cut to 0.3% from 0.6%. The survey also reported higher expectations for inflation in 2012 and 2013.

The Euro is now trading around 1.2767 against the US Dollar in forex markets. Resistance could be provided by a former support near 1.2824, and support might be provided by a 2-month low at 1.2659.

The big mover in today’s session was the Yen, which has weakened significantly following the announcement of tomorrow’s dissolution of the parliament. The projected winner of the upcoming election, opposition leader Abe, is expected to raise pressure on the BoJ to cut interest rates. That’s why the Yen has risen nearly 200 points against the US Dollar and moved above 81.00 for the first time in six months. Responding to expectations, Economy Minister Maehara said Abe’s comments may mislead markets, and a 3% inflation goal is not appropriate.

EURUSD Daily: November 15, 2012

Technical_Recession_Cant_Keep_the_Euro_Down_body_eurusd_daily_chart.png, Forex News: Technical Recession Can't Keep the Euro Down

--- Written by Benjamin Spier, DailyFX Research

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.