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
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
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
Bullish
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
Bearish
More View more
Real Time News
  • The ASX 200 index rebounded 0.93% on Tuesday morning, led by industrials (+1.24%), real estate (+1.14%), healthcare (+1.00%) and financials (+0.99%) sectors, while energy (-0.20%) trailed behind. https://t.co/ydIemBdta7
  • Heads Up:🇮🇹 Italy PM Confidence Vote in Parliament due at 00:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-01-19
  • $USD hegemony is at risk thanks to changes in the global economy and the long-term consequences of the US-China trade war. Get your market update from @CVecchioFX here: https://t.co/5GO9UrvO4y https://t.co/744r4xEfFm
  • South Korean Vice Finance Minister says bond yields to be closely monitored - BBG
  • Italian PM Conte won support for his government in the Chamber of Deputies 321 to 259. He will face a more difficult vote in the Senate tomorrow
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.17% 🇨🇭CHF: 0.05% 🇪🇺EUR: 0.01% 🇨🇦CAD: -0.18% 🇳🇿NZD: -0.26% 🇦🇺AUD: -0.30% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/L7qJIoIuXY
  • 🇳🇿 Electronic Retail Card Spending MoM (DEC) Actual: 19.2% Previous: 0.1% https://www.dailyfx.com/economic-calendar#2021-01-18
  • President-Elect Joe Biden's Treasury Secretary nominee Janet Yellen (former Fed Chairwoman) is due to before the Senate Finance Committee tomorrow at 15:00 GMT (or 10:00 EST)
  • 🇳🇿 Electronic Retail Card Spending YoY (DEC) Actual: 3.5% Previous: 1.4% https://www.dailyfx.com/economic-calendar#2021-01-18
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Silver: 0.79% Gold: 0.49% Oil - US Crude: -0.57% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/bTtIH1q2ja
Euro Rises Ahead of Close of Italian Elections

Euro Rises Ahead of Close of Italian Elections

Benjamin Spier, Technical Strategist

There is no doubt that the big event risk for Monday’s trading is the end of the Italian elections, which will determine the next prime minister. Following two days of voting, ballots will close today at 14:00 GMT, and exit polls will be released immediately after closing.

Former Prime Minister Berlusconi is challenging incumbent premier Mario Monti, and should a right wing bloc win support and form a government behind Berlusconi, then the former PM may repeal Monti’s austerity measures. Therefore, a Berlusconi win may be perceived as Euro negative.

Besides for the Italian elections, there is little news out of the Euro-zone today. French Finance Minister Moscovici and his German counterpart Schaeuble welcomed the results of the Cyprus elections and expect an accord with the Cyprus government by the end of March.

After forming a technically neutral Doji star on Friday, EUR/USD has climbed its way back above 1.3200 in today’s Forex trading. Support may now be provided by the 1-month low set at 1.3144 on Friday. Resistance may be provided by the former 1.3284 resistance line.

The Pound has recovered about half of the losses since the Moody’s downgrade and is currently trading around 1.5150. BBA loans for house purchases were reported at 32,288 in January, worse than the expected 34,000 mortgage approvals and down from 33,440 in December (revised). The release had no significant impact on trading.

In Japan, the Yen weakened further as reports surfaced that PM Abe will nominate outspoken dove Kuroda as the BoJ Governor. Finance Minister Aso said Kuroda is the correct choice, and PM Advisor Hamada said Kuroda understands so-called Abenomics. The official nomination is expected by the end of this month.

EURUSD Daily: February 25, 2013

Euro_Rises_Ahead_of_Close_of_Italian_Elections_body_eurusd_daily_chart.png, Euro Rises Ahead of Close of Italian Elections

Chart created by Benjamin Spier using Marketscope 2.0

--- Written by Benjamin Spier, DailyFX Research. Feedback can be sent to instructor@dailyfx.com .

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

DISCLOSURES