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
Wall Street
Mixed
Gold
Bullish
GBP/USD
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: US 500: 0.21% Wall Street: -0.35% FTSE 100: -0.94% France 40: -1.21% Germany 30: -1.23% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/Doo7fWrpDf
  • Markets have digested the realization that the rollout of the vaccine campaign does mean an immediate solution to the current economic and social problems. Get your market update from @HathornSabin here:https://t.co/6L1lXf8W82 https://t.co/29E7PkyyaV
  • The $DXY continues to hold above the psychological level of 90 and is testing around 90.30 this morning. $USD https://t.co/ZoLnf9pCDE
  • Germany 30 IG Client Sentiment: Our data shows traders are now net-long Germany 30 for the first time since Dec 11, 2020 when Germany 30 traded near 13,135.60. A contrarian view of crowd sentiment points to Germany 30 weakness. https://www.dailyfx.com/sentiment https://t.co/uMIVmW3vUW
  • ECB's Lane: - If favorable financing conditions can be maintained, maximum amount of asset purchases may not be necessary - Recent intensification of pandemic represents a significant downside risk, requires continuation of various fiscal support measures #ECB $EUR
  • ECB's Elderson: - Impact of the crisis on the European banking sector has yet to be fully revealed - Consequences of Brexit still need to be dealt with - It is "high time" to complete the EU banking union through institutional/regulatory architecture, deposit insurance #ECB $EUR
  • Italy's coalition Democratic Party (PD) wants Conte to resign and guarantees support for him as head of new government - PD Lawmakers $EUR
  • $NZDUSD is back above 0.7200 this morning, trading near one of January's key levels for the pair. $NZD $USD https://t.co/WIsB7K8Zus
  • UK PM Johnson to visit Scotland to make impassioned plea for Scotland to reject narrow separatism - The Sun $GBP
  • 🇺🇸 Chicago Fed National Activity Index (DEC) Actual: 0.52 Previous: 0.27 https://www.dailyfx.com/economic-calendar#2021-01-25
Forex News: Euro Erases Gains As Risk Appetites Abate

Forex News: Euro Erases Gains As Risk Appetites Abate

Benjamin Spier, Technical Strategist

For the third day in a row, the Euro is seeing some unexpected volatility, as there is no significant fundamental news to drive prices, and liquidity is low for the holiday week. The Euro is down fifty points against the US Dollar in today’s forex trading following yesterday’s swings, when EURUSD saw an eighty point range despite only closing about twelve points higher than the open.

We saw a few economic releases in today’s European session. French gross domestic product only rose 0.1% in the final estimate for the third quarter, coming in lower than a previous estimate for 0.2% growth. In Italy, producer prices dropped 0.1% in November. Neither release had significant impact on trading.

The major story affecting currency trading is the looming US fiscal cliff. President Obama will meet with congressional leaders today, and the House of Representatives will continue to work on a possible compromise in an unusual Sunday session.

Also today, Germany’s Bundestag President Lammert said the aid to Greece is within the parliament’s framework. In China, the PBOC said the Chinese economy is stable and the price situation is basically stable.

Furthermore, the Yen continued to weaken against the US Dollar overnight, as weaker Japanese economic data made a better case for further stimulus. In the European session, Finance Minister Aso said the Japanese government will outline stimulus before the next BoJ meeting.

The Euro is currently trading slightly below 1.3200 against the US Dollar. Support could be provided by a previous resistance around 1.3158, and resistance could be provided by the recent 8-month high of 1.3308.

EURUSD Daily: December 28, 2012

Euro_Erases_Gains_As_Risk_Appetites_Abate__body_eurusd_daily_chart.png, Forex News: Euro Erases Gains As Risk Appetites Abate

--- Written by Benjamin Spier, DailyFX Research

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

DISCLOSURES