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
Bullish
Oil - US Crude
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
Wall Street
Mixed
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Make smart trading decisions with your free guide to trade the news. Download your free guide here.https://t.co/pb5E2KgRzW #DailyFXGuides https://t.co/E9ZmJvqO0z
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here: https://t.co/4jsORznRTE https://t.co/fqxw1AoKc1
  • Gold snapped a two-week losing streak but keeps price within the broader August downtrend. These are the levels that matter on the $XAUUSD weekly chart. Get your market update from @MBForex here: https://t.co/B3Jct6mIBD https://t.co/xTGIM2hRBv
  • $GBPUSD continues to move higher, despite Friday’s weakness, as vaccination hopes continue to fuel positive sentiment despite ongoing lockdown fears and downbeat UK data. Get your market update from @nickcawley1 here: https://t.co/S8UoHzOwFN https://t.co/qI6UZdggvM
  • 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: https://t.co/IsnpfJhp91 https://t.co/6wxX6oQurn
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here: https://t.co/e4CnobJCss https://t.co/w009tJEQZn
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here: https://t.co/rfwUWJfbz9 https://t.co/2AeO1AdD2M
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here: https://t.co/ZNs4Qi8ieG https://t.co/INJz4NSugQ
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here: https://t.co/QszmdZX8cS https://t.co/qdrsi61CN8
  • It seems the markets are riding high, but risk is always lurking around the corner. Consider your escape plan before you find yourself in collapsing market. What are the top havens for different conditions in 2021? Find out from @JohnKicklighter here: https://t.co/1oeXWEsJkb https://t.co/IyQdfq29fz
Forex News: Euro and Sterling Move in Opposite Directions in Absence of News

Forex News: Euro and Sterling Move in Opposite Directions in Absence of News

Benjamin Spier, Technical Strategist

The weekend opened with decisive gaps in trading of EURUSD, AUDUSD, and USDJPY. The weekend drop in Yen was an obvious response to the overwhelming win for the pro-stimulus LDP party in the Japanese elections. The gaps in the other two pairs are tougher to explain, especially because each risk correlated currency moved in opposite direction against the safe haven US Dollar. Since the open of the session, USDJPY and EURUSD each erased most of the gap.

There has not been much significant news in the European session thus far. There were some rumors of Italian press reporting that PM Montin won’t run in the next elections. Monti announced that he will resign following the approval of the 2013 budget, and there are worries that his successor could undue some of the economic measures passed by Monti. The Euro showed no significant reaction to the report.

Also in Italy, the trade balance was reported at 2.452 billion Euros in October, higher than September’s revised 409 million trade balance. The trade balance for the entire Euro-zone was reported at 10.2 billion Euros for October, disappointing expectations for 11.0 billion Euros. That was it for significant releases during the session.

The Euro did not move significantly in today’s session, following an initial fall to 1.3140 against the US Dollar shortly after the open. Since then, EURUSD has remained within a 25 point range in forex trading.

Sterling has steadily gained some ground against the US Dollar in today’s session, setting a new 2-month high, although there don’t seem to be any new fundamental factors influencing the move. Resistance could be provided by the key 1.6200 figure, and support could be provided by the previous 2-month high at 1.6174.

Later in the session, ECB President Mario Draghi will be speaking at 14:30 at the quarterly hearing of the Committee on Economic and Monetary Affairs of the European Parliament. In the DailyFX economic calendar, the speech is rated as a medium risk.

GBPUSD Daily: December 17, 2012

Euro_and_Sterling_Move_in_Opposite_Directions_in_Absence_of_Significant_News_body_gbpusd.png, Forex News: Euro and Sterling Move in Opposite Directions in Absence of News

--- Written by Benjamin Spier, DailyFX Research

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

DISCLOSURES