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
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
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
Bearish
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Gold: 0.82% Silver: 0.65% Oil - US Crude: -0.05% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/KVfIXfvjtM
  • Gold breaks out of the range-bound price action from earlier this week as the 10-Year US Treasury yield slips to a fresh monthly low (1.53%). Get your $XAUUSD market update from @DavidJSong here:https://t.co/QlflNxQb8o https://t.co/cMYBlVaH5X
  • Bank of America sets bond sale at $15 billion, new record issuance for a bank - BBG $BAC
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.51%, while traders in Germany 30 are at opposite extremes with 80.34%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/Rt3UaXS0iz
  • CI Global Asset Mgmt to launch world's first Ethereum ETF - BBG $ETH
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.28% US 500: 0.16% France 40: 0.08% FTSE 100: 0.08% Germany 30: 0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/GMkjgMV7IS
  • US Indices are mixed today. The S&P 500 and Dow are up while Tech and Small Caps are trading slightly in the red. DOW +0.28% SPX +0.17% NDX -0.12% RUT -0.13% $DIA $SPY $QQQ $IWM
  • The US 10yr Treasury yield has slightly risen from the one month low hit yesterday around 1.53% to currently trade around 1.57%. Yields remain depressed compared to their levels from late March/early April. $USD https://t.co/uJJHXPaOhm
  • Retail CFD traders (at IG) have built up their heaviest short and net short position on the $SPX since we hit the peak at the beginning of September: https://www.dailyfx.com/sentiment https://t.co/IGK0KKRwwB
  • Hey traders! Wrap up the week with a quick market update from @DailyFX Chief Strategist @JohnKicklighter 👇 https://t.co/qLtlinTzj8
Pound and Euro Decline Despite Rally in Equities, PMIs Add to Confusion

Pound and Euro Decline Despite Rally in Equities, PMIs Add to Confusion

Benjamin Spier, Technical Strategist

It’s a confusing session when Forex markets show a clear aversion to the two biggest European currencies over their local trading hours, but equity indexes continue to trade higher. The Pound dropped 70 points against the US Dollar over the European session, and EUR/USD also fell 40 points over the session thus far. Meanwhile, the FTSE, CAC, and DAX indexes are all showing 1% rallies.

UK and Euro-zone PMI’s for manufacturing were each released during today’s session, but neither seemed to have an immediate effect on Forex trading. The Euro-zone PMI was revised slightly higher for the final Markit release for March, but the single currency soon continued its decline towards 1.2800. The UK PMI disappointed expectations at 48.3, and Cable only resumed its fall below 1.5200 about fifteen minutes after the release.

Besides for economic releases, Euro investors were also focused on the reopening of the Cyprus stock market, which has been closed since March 15. The Bank of Cyprus and Cyprus National Bank’s stocks, which represent 59% of the Cyprus equity index, will not be traded until April 15. Meanwhile, the third biggest bank’s stock declined 20% following the delayed open. On the whole, the Cyprus equity index fell about 0.5% on the open. Also in Cyprus, capital controls were eased to 25,000 Euros for daily transactions, up from a previous daily limit of 5,000 Euros.

In other economic releases, the Euro-zone unemployment rose to a record high 12.0%. However, the release was as expected and did not significantly affect Forex markets. Spanish net unemployment unexpectedly dropped in March by 5,000, and that release was followed by a temporary rise above 1.2850 in EUR/USD.

At 12:00 GMT, German annual inflation for March will be announced, 1.3% is expected.

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

EURUSD Daily: April 02, 2013

Pound_and_Euro_Decline_Despite_Rally_in_Equities_PMIs_Add_to_Confusion_body_eurusd_daily_chart.png, Pound and Euro Decline Despite Rally in Equities, PMIs Add to Confusion

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