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
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
Oil - US Crude
Mixed
Wall Street
Mixed
Gold
Mixed
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • Crude Oil Prices Aiming Higher on OPEC Surprise, Inflation Expectations - https://www.dailyfx.com/forex/fundamental/forecast/weekly/title/2021/03/06/Crude-Oil-Prices-Aiming-Higher-on-OPEC-Surprise-Inflation-Expectations.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr $CL #Crudeoil #OOTT #OPEC https://t.co/AKvXWX9DLQ
  • Given the size of the rally in the eleven months preceding the beginning of the current decline a broader sell-off looks warranted. Get your market update from @PaulRobinsonFX here: https://t.co/UxZiSulpwB https://t.co/raXvlzkGbV
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here: https://t.co/kODPAfJE79 https://t.co/lp0tmKS9WR
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here: https://t.co/rz7fqhRoMG https://t.co/3bOSIBeID9
  • Rising yields and US Dollar creates a weak environment for gold, which trades at a 9-month low. Get your market update from @JMcQueenFX here: https://t.co/lh6Qb2qxin https://t.co/MRAYe57e1A
  • RT @FxWestwater: US Dollar Fundamental Forecast: US Dollar Eyes Inflation Data After NFP Boost Link: https://www.dailyfx.com/forex/fundamental/forecast/weekly/usd/2021/03/06/US-Dollar-Fundamental-Forecast-US-Dollar-Eyes-Inflation-Data-after-NFP-Boost.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr $DXY https://…
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here: https://t.co/arxYmtQeUn https://t.co/NvEAeWkBP1
  • The British Pound continues to face downside pressure as corrective trades continue. Get your market update from @HathornSabin here: https://t.co/YCctQSt2vB https://t.co/naVcnmf9UT
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here: https://t.co/CNtqrKWDBY https://t.co/vABKiG4WNe
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/IQyDCjb5Dn
Euro Unwinds Most of the Cyprus Deal Gains, Aussie Continues to Find Wind

Euro Unwinds Most of the Cyprus Deal Gains, Aussie Continues to Find Wind

Benjamin Spier, Technical Strategist

Cyprus has managed to secure the Euro-zone’s 10-billion Euro bailout without hurting depositors with less than 100,000 Euros in their accounts, a deal that has sent risk appetite back into the markets. In an update to the deal, there were reports earlier that the Chair of the Cyprus Finance Committee said he believes the losses to large depositors will be 30%.

Although the deal doesn’t need approval from the Cyprus parliament, because of its bank restructuring basis, the deal does need the approval of its lenders in the Euro-zone and Germany. The Bundestag may have to vote to approve the bailout deal, but German reception thus far has been positive. Finance Minister Schaeuble said the aid deal represents the German position and the deal is fair. Merkel ally and lawmaker Michelbach noted that Cyprus must fulfill all conditions to get aid.

Most of the initial jump to 1.3075 in EUR/USD seen after the aid announcement has been unwound over the European session, but the key 1.3000 line seems to now be providing support. Resistance may be provided at 1.3055, by the 38.2% retracement of the fall from the pair’s all time high to its all time low.

Meanwhile, the risk appetite created by the Cyprus deal may have been somewhat responsible for the Australian Dollar setting a new two-month high against the US Dollar at 1.0471 duing today’s European session.

In economic releases, the Italian consumer confidence index was reported at 85.2 in March, slightly below expectations and lower than the 86.0 index in February. UK BBA Loans for House Purchases declined to 30,506 in February. Neither release had significant effect on Forex markets.

As this writing is being published, Italy will sell 2014 bonds and 2018,2023 I/L bonds. Italian 10-year bond yields have declined 5.9 bps today and the benchmark bond price is now trading above the point where it was before the elections that led to the current political stalemate in Italy.

(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 25, 2013

Euro_Unwinds_Most_of_the_Cyprus_Deal_Gains_Aussie_Continues_to_Find_Wind_body_eurusd_daily_chart.png, Euro Unwinds Most of the Cyprus Deal Gains, Aussie Continues to Find Wind

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