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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
More View more
Real Time News
  • The US Dollar has proved buoyant thus far in 2021. Will it continue now that administrations have changed? Depends on fiscal stimulus. Get your market update from @CVecchioFX here:
  • President Biden acting quickly. Has already signed a run of executive orders, one of which is brining the United States back into the Paris Agreement. I think a number of industries expected this, including the auto-manufacturers
  • President Biden signs new executive orders revoking the Keystone XL Oil Pipeline permit, US will rejoin Paris Climate Agreement - BBG
  • We had the BOC and Brazilian Central Bank rate decisions today. Coming up over the next 24 hours, we have the BOJ, Norges, South African Reserve Bank, Turkish Central Bank and ECB rate decisions. On balance, unlikely a serious dictate for global risk trends
  • Asian futures point higher as US equities close at record highs - BBG
  • 🇧🇷 Interest Rate Decision Actual: 2% Expected: 2% Previous: 2%
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.80% 🇳🇿NZD: 0.73% 🇦🇺AUD: 0.66% 🇬🇧GBP: 0.20% 🇨🇭CHF: -0.12% 🇪🇺EUR: -0.19% View the performance of all markets via
  • Poll: Which direction do you think $EURUSD will break when it does finally clear this 1.2150-2050 range?
  • Heads Up:🇧🇷 Interest Rate Decision due at 22:00 GMT (15min) Actual: 2% Expected: 2% Previous: 2%
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Silver: 2.49% Gold: 1.66% Oil - US Crude: -0.72% View the performance of all markets via
Italian GDP Beats Expectations in First Major Q2 Release from the Euro-Zone

Italian GDP Beats Expectations in First Major Q2 Release from the Euro-Zone

Benjamin Spier, Technical Strategist

THE TAKEAWAY: Italian GDP contracts 0.2% in Q2, better than expected -> Italian economy reports first major Euro-zone release for the quarter -> Euro rises slightly

Want to trade with proprietary strategies developed by FXCM? Find out how here.

Today’s Forex session has seen significant amounts of economic releases, which have left the Aussie and Kiwi as the big winners in today’s trading. A 25 basis point cut to the RBA rate target met analysts’ expectations, but it was the less dovish comments that sent AUD/USD higher over the hours following the release.

During the European trading hours, Italian gross domestic product for Q2 was reported better than expected, which was the first GDP release of the three major Euro-zone economies- Italy, France and Germany. The Italian economy contracted 0.2% over the quarter, beating expectations for a 0.4% contraction and better than the 0.6% contraction reported for Q1.

The 0.2% GDP decline in Italy was both the best quarterly GDP change in seven quarters, but also the eighth consecutive quarter of declining GDP in Italy. The GDP for the entire Euro-zone for Q2 will be released in an advanced estimate on the fourteenth of August, Euro investors are looking for an end of the six straight quarters of economic recession.

Also released in today’s session, UK manufacturing production beat expectations and temporarily sent the Pound higher. Soon after this piece is published, German factory orders for June will be announced.

The Euro saw a small and delayed reaction following the better than expected Italian GDP release. EUR/USD is trading slightly below 1.3300 at the time of this writing, and a monthly high recently set at 1.3344 may provide resistance.

New to EUR/USD trading? Watch this video

EURUSDDaily: August 6, 2013

Italian_GDP_Beats_Expectations_in_First_Major_Q2_Release_from_the_Euro-Zone_body_eurusd_daily_chart.png, Italian GDP Beats Expectations in First Major Q2 Release from the Euro-Zone

Chart created by Benjamin Spier using Marketscope 2.0

-- Written by Benjamin Spier, DailyFX Research. Feedback can be sent to .

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.