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.

Free Trading Guides
EUR/USD
Bullish
Oil - US Crude
Mixed
Wall Street
Bullish
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • Join @PaulRobinsonFX 's #webinar at 5:30 AM ET/9:30 AM GMT to gain insight on indices and commodities for the active trader. Register here: https://t.co/gghsFsZYlx https://t.co/MpELL4brE5
  • The Canadian Dollar has proven stable in recent weeks following a dramatic turn lower in March, guided to the downside by energy markets. Get your $USDCAD market update from @CVecchioFX here: https://t.co/7tlrn74X3t https://t.co/dXPFiHz6EA
  • Idea de #trading del día: $GBPUSD e #IBEX35 https://t.co/keSNWeUnM5 https://t.co/Cxv4P4zZWc
  • Heads Up:💶 ECB Guindos Speech due at 08:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-05-27
  • ECB PRESIDENT LAGARDE: - No new Euro debt crisis after pandemic, what matters is how borrowed money is spent - Not overly concerned about high debt levels #EUR #ECB
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.62%, while traders in US 500 are at opposite extremes with 76.70%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/01rko7aQXN
  • Heads Up:🇿🇦 Inflation Rate YoY due at 08:00 GMT (15min) Previous: 4.1% https://www.dailyfx.com/economic-calendar#2020-05-27
  • BoJ states that Break-even level for its ETF holdings is estimated to be around 18,500 for Nikkei stock average $JPY
  • ECB PRESIDENT LAGARDE: - Very hard to forecast how badly the economy has been affected - Very likely that the ECB's mild scenario is out of date, economy is likely somewhere between 'medium' and 'severe' scenarios #EUR #ECB
  • ECB's Lagarde says the ECB's mild growth scenario is already outdated
Troika-Greece Deal Fails to Erase China Based Euro Losses

Troika-Greece Deal Fails to Erase China Based Euro Losses

2013-04-15 10:30:00
Benjamin Spier, Technical Strategist
Share:

The brunt of the effect of Chinese Q1 economic expansion disappointing expectations could still be felt in the European session, as the currencies from nearby trading partners Australia and New Zealand took most of the damage, and the Euro and Pound also fell against the safe haven US Dollar and Yen. EUR/USD fell below 1.3100 following the Chinese GDP data to 1.3060, and there was not enough significant positive data to help the Euro erase those losses.

On a positive note, the Troika finished its review with Greece, and the group of lenders said the country will see a gradual return to economic growth in 2014. Greek Finance Minister Stournaras said he expects the next tranche of aid to be released soon.

In other good news, the Euro-zone trade balance rebounded from the first deficit in a year and rose by 10.4 billion Euros in February. The trade balance beat expectations for 5 billion Euros. Neither of the two main Euro-zone stories had lasting effects on Euro trading, and EUR/USD may find support at 1.3055, by the 38.2% retracement of the of the rise from the all time low to the all time high.

In Japan, the BoJ upgraded its economic assessment of all 9 of the Japanese regions based on the global economy and domestic demand resilience. BoJ governor Kuroda spoke this morning, and said the Japanese economy has shown signs of picking up. Japan industrial production was reported to have risen for the third straight month in February.

(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 15, 2013

Troika-Greece_Deal_Fails_to_Erase_China_Based_Euro_Losses_body_eurusd_daily_chart.png, Troika-Greece Deal Fails to Erase China Based Euro Losses

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.