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
EUR/USD
Mixed
Oil - US Crude
Bullish
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
Mixed
More View more
Real Time News
  • Hey traders! Market risk appetite is highly concentrated. What are some other market highlights for today? Find out from @DailyFX Chief Strategist @JohnKicklighter 👇 https://t.co/YvQTLDBK7p
  • Update on #Cryptocurrencies #BITCOIN -1.27% #BITCOINCASH -2.20% #ETHEREUM -1.62% #RIPPLE +1.59% #LITECOIN -1.11%
  • $EURUSD continuing to catch resistance from the 1292 level, working on its sixth consecutive week. This week has, so far, brought on a higher-high, but can bulls continue to drive? $USD breakdown potential the key for whether or not EUR/USD can push up for a re-test 1500 https://t.co/6MeQmEpluO
  • Hey traders! Market risk appetite is highly concentrated. What are some other market highlights for today? Find out 👇 https://t.co/ebfF9W6nCU
  • $USD $DXY | US Dollar getting a boost over the last hour and attempting to claw back downside notched earlier this week with market sentiment starting to sour. https://t.co/tZGJ4vu9Ij
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.02% 🇯🇵JPY: 0.00% 🇨🇭CHF: -0.14% 🇪🇺EUR: -0.27% 🇦🇺AUD: -0.31% 🇨🇦CAD: -0.35% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/8V1MBXTus6
  • This will be my last week hosting this webinar for the time being and we'll finish it up with a look at $NZDUSD https://t.co/ssGJfuaxFg
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.55% France 40: -0.49% US 500: -0.87% FTSE 100: -1.18% Wall Street: -1.34% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/WkTdltLy6Y
  • Heads Up:🇲🇽 Monetary Policy Meeting Minutes due at 15:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-07-09
  • Harley Davidson will reportedly eliminate about 700 positions globally, impacting approximately 500 current employees $HOG Harley is yet another addition to the growing list of #covid related layoffs
ECB Maintains Economic Recovery Forecast Ahead of the EU Summit

ECB Maintains Economic Recovery Forecast Ahead of the EU Summit

2013-03-14 10:26:00
Benjamin Spier, Technical Strategist
Share:

The European Central Bank released its monthly economic bulletin, saying there is a downside risk to the central bank’s economic outlook. However, the bulletin also said it sees a gradual recovery later in 2013, as contained inflation allows the ECB to remain accommodative, thereby reiterating Draghi’s comments from earlier in the month.

Following the ECB meeting earlier this month, President Draghi said he sees Europe’s economy experiencing worsening consumption and demand before the recovery later this year. The Euro-zone experienced five straight quarters of economic contraction ending with Q4, while inflation was reported at 1.8% for February, below the ECB’s target rate.

There was no significant reaction to the ECB bulletin, as it reflected a lot of what was already said by Draghi in his monthly press conference. The Euro has traded pretty steady over today’s European session, and dropped slightly closer to 1.2950 against the US Dollar in Forex markets. Support may be provided at 1.2933, by a long term downward trend line from December 2011. Resistance may be provided by the key 1.3000 level.

Also today, Spain held an unscheduled sale of long term debt. 2029, 2040, and 2041-bonds were sold for 803 million Euros. The 2029 bonds sold for an average yield of 5.22% versus a significantly higher 5.79% in February. Spanish benchmark 10-year bond yields have fallen about 60 points in secondary markets over the past month of trading.

Also released today, the Swiss National Bank maintained a 0.00% target interest rate and said it will continue to enforce the 1.20 Franc/Euro ceiling with the utmost determination. There was no significant Franc reaction to the announcement.

Later today, European Union leaders will begin their two day summit in Brussels, and Euro-zone leaders will also meet separately later today. The loosening of deficit targets on growth starved countries like France and Italy will be the major topic for talks, while a bailout for Cyprus will also be discussed.

(Did you understand all the terms used in today’s report? If so, test your skills with DailyFX’s Trading IQ Quiz.)

EURUSD Daily: March 14, 2013

ECB_Maintains_Economic_Recovery_Forecast_Ahead_of_the_EU_Summit_body_eurusd_daily_chart.png, ECB Maintains Economic Recovery Forecast Ahead of the EU Summit

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

News & Analysis at your fingertips.