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. See our updated Privacy Policy here.

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
Gold
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
More View more
Real Time News
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: France 40: 0.81% FTSE 100: 0.46% Wall Street: 0.44% US 500: 0.34% Germany 30: -0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/NY5gnFSnWv
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here: https://t.co/KDjIjLdTSk https://t.co/arE0VMeE3k
  • Coming up at half past the hour. I'll be analysing the charts, looking at the confidence data on the calendar this week and talking about the IG client sentiment numbers. Do join me if you can https://t.co/nm3tP1xRmA
  • Join @MartinSEssex at 5:30 EST/9:30 EST for a webinar on trading sentiment. Register here: https://t.co/CX9djlHnWK https://t.co/NN8iRzbMsl
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.65%, while traders in France 40 are at opposite extremes with 77.78%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/mhS5GPlzBU
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Gold: -0.17% Oil - US Crude: -0.22% Silver: -0.33% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/DrnTBv3TGT
  • Forex sentiment analysis can be a useful tool to help traders understand and act on price behavior. Learn how to get the most out of understanding trader sentiment here: https://t.co/rJznrXkcYz https://t.co/F98u380a6a
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.63% 🇦🇺AUD: 0.42% 🇯🇵JPY: 0.15% 🇪🇺EUR: 0.01% 🇨🇭CHF: -0.00% 🇨🇦CAD: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/qb29dNwFFu
  • 🇨🇭 Consumer Confidence (Q3) Actual: 10 Previous: -18 https://www.dailyfx.com/economic-calendar#2021-08-03
  • 🇪🇸 Unemployment Change (JUL) Actual: -197.8K Previous: -166.9K https://www.dailyfx.com/economic-calendar#2021-08-03
Euro Rallies on Surprising German Business Survey

Euro Rallies on Surprising German Business Survey

Benjamin Spier, Technical Strategist

THE TAKEAWAY: German IFO business climate survey beats expectations at 105.7 -> IFO’s Wahlrobe says he expects GDP to rise significantly in Q2 -> Euro rallies closer to 1.3000

The Euro rallied fifty points and rose closer to 1.3000 against the US Dollar, following the release of a better than expected German IFO survey and ensuing optimistic comments from the IFO. The IFO Survey of the business climate in May rose to 105.7, beating expectations for the survey result to remain at 104.4 for a second month. The IFO survey of current assessment rose to 110.0 from 107.2 in April, and the survey of expectations met expectations and remained at 101.6.

IFO’s Wohlrabe said after the release that he expects the German GDP to rise significantly in the second quarter when compared to the first quarter. Earlier today, the German economy was confirmed to have grown 0.1% in Q1, following the 0.7% GDP decline reported for Q4. The German GFK consumer confidence survey also rose more than expected to 6.5 for June.

The Euro is trading around 1.2980 against the US Dollar in Forex markets at the time of this writing. The pair may see resistance by the key 1.3000 figure, and support may continue to be provided around 1.2815.

The major comments from the European session came from the Bank of England’s Fisher. Fisher said the UK is starting to see a pickup, but the central bank must continue to support adjustments in the economy. He further said that evidence shows that QE is not becoming less effective. Although Fisher’s comments came off as dovish, he was one of the three MPC members who voted to add to stimulus in May, and therefore his comments did not significantly affect Pound trading.

(How does a Currency War affect your FX trading? Take our free course to find out!)

EURUSDDaily: May 24, 2013

Euro_Rallies_on_Suprising_German_Business_Surveys_body_eurusd_daily_chart.png, Euro Rallies on Surprising German Business Survey

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