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
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
Bearish
Wall Street
Bullish
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • US Treasury Sec. Yellen: - Congress should act to lift the debt ceiling as quickly as possible - We cannot allow any chance of the government defaulting on its debt
  • US Treasury Sec. Yellen: - Defaulting on the national debt is "unthinkable" - It would be catastrophic for the US to default, that would likely precipitate a crisis
  • US Treasury Sec. Yellen: - The Fed's IOER adjustment was purely technical - According to the Fed, the stance of monetary policy has not changed
  • US Treasury Sec. Yellen: - Inflation estimates for next year are consistent, hovering around 2%
  • US Treasury Sec. Yellen: - The majority of inflation expectation indicators are still stable - Inflation will return to normal levels after this year
  • US Treasury Sec. Yellen: - I believe current inflation patterns are temporary due to supply chain bottlenecks - It will be a bumpy road to reopening, but the economy is on a good track
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Silver: 0.59% Gold: 0.05% Oil - US Crude: -0.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/aUkdKtKoMw
  • US Treasury Sec. Yellen: Raising the corporate tax rate would land the US in the middle of its peers
  • US Senator Schumer: - We are moving forward on multiple infrastructure proposals - I will meet with White House officials later along with Speaker of the House Nancy Pelosi
  • US Treasury Sec. Yellen: I hope to get approval from G20 for a worldwide tax reform plan
Euro and Pound Continue Drop in a Quiet European Session Ahead of NFP

Euro and Pound Continue Drop in a Quiet European Session Ahead of NFP

Benjamin Spier, Technical Strategist

EUROPEAN SESSION UPDATE: Franc shows little reaction to lower than expected deflation; Portugal worries cool on coalition announcement…

The European session has been a quiet one, but the Euro and the Pound are each trading lower against the US Dollar, which may be a continued reaction to yesterday’s dovish guidance reports from both the BoE and the ECB, or trading in anticipation of today’s NFP release in the US.

The worries over a collapse of the Portuguese government seem to be dying down, as it was announced yesterday that the coalition parties came to an agreement. The 10-year bond yield, which spiked from around 6.5% to 8.0% during the initial story, has declined back below 7.0% over the past two days of trading.

Swiss annual deflation in June was reported today at -0.1%, slightly less than expectations for consumer prices to decline 0.4% from June 2012. The release led to a temporary and muted gain in EUR/CHF.

In other economic releases, the German Factory Orders for May will be released at 10:00 GMT. Also, the Japanese Leading Index reached a six year high in May but had little effect on Yen pricing, as traders may be focused on the BoJ’s 2% inflation goal.

The USD change in Non-Farm Payrolls will be released at 12:30 GMT, and may carry volatility for the US Dollar. Live FXCM account holders and DailyFX subscribers can watch Senior Currency Strategist David Rodriguez’s live coverage of the event here.

The Euro has continued falling further below 1.2900 against the US Dollar in today’s trading. The pair may see support by a rising trend line from September 2012, currently at 1.2867, and resistance may come in at 1.3000.

EURUSD Daily: July 5, 2013

Euro_and_Pound_Continue_Drop_in_a_Quiet_European_Session_Ahead_of_NFP_body_eurusd_daily_chart.png, Euro and Pound Continue Drop in a Quiet European Session Ahead of NFP

Chart created by Benjamin Spier using Marketscope 2.0

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

-- 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