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
Wall Street
More View more
Real Time News
  • Bond markets will be on edge all week, with several measures of inflation due from around the globe (Mexico, China, US, Australia, Brazil, Germany, and India). Get your market update from @CVecchioFX here:
  • Bitcoin bears exert force, driving Bitcoin back below the 50k psychological level BTC/USD support showing around a Fibonacci level. Get your $btc market update from @Tams707 here:
  • Time to break out some ratios like commercial real estate property tickers (eg $SPG) relative to Amazon ($AMZN) or Carnival Cruise ($CCL) relative to Netflix ($NFLX)
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: -0.07% 🇬🇧GBP: -0.11% 🇦🇺AUD: -0.42% 🇪🇺EUR: -0.54% 🇳🇿NZD: -0.59% 🇨🇭CHF: -0.63% View the performance of all markets via
  • Rising yields (the aggregate yield I mentioned earlier is overlaid and inverted in red here) is dragging gold lower. The 60-day correlation (3 trading month) between $GC_F and yields is the strongest net negative since Oct 2019
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.42% Silver: -0.47% Gold: -1.10% View the performance of all markets via
  • The Australian Dollar now risks a deeper March correction with the AUD/USD price reversal approaching multi-month uptrend support. Get your $AUDUSD market update from @MBForex here:
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.43%, while traders in Germany 30 are at opposite extremes with 80.92%. See the summary chart below and full details and charts on DailyFX:
  • US equities end the day mixed, as market participants continue to rotate $DOW 31801.91 +0.97% $SPX 3821.22 -0.54% $NDX 12299.0 -2.92% $RTY 2202.99 +0.49% $VIX 26.24 +6.41%
  • Indices Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.01% US 500: -0.01% France 40: -0.28% Germany 30: -0.29% FTSE 100: -0.34% View the performance of all markets via
ECB Maintains Economic Recovery Forecast Ahead of the EU Summit

ECB Maintains Economic Recovery Forecast Ahead of the EU Summit

Benjamin Spier, Technical Strategist

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 .

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