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
Bearish
Oil - US Crude
Bearish
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
Bearish
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
Gold
Bearish
GBP/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
USD/JPY
Bearish
More View more
Real Time News
  • The final ‘full’ week of the year brings about the last wave of significant event risk from around the globe, including three central bank rate decisions (Fed, BOE, & BOJ). Get your market update from @CVecchioFX here:https://t.co/PhqxSPlngI https://t.co/XX57vSjQwV
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here: https://t.co/kODPAfJE79 https://t.co/HOvzuOICQx
  • Ever wonder if there are other chart types that can be sued for technical analysis? HLOC charts are discussed in the following article as well as their pros and cons. Learn more here: https://t.co/qV3c7a4YR3 https://t.co/32hYzqhuZ9
  • The Australian Dollar sits on the crossroads of Treasury yields, the S&P 500 and US fiscal stimulus expectations. Will $AUDUSD gains slow? Chinese Q4 GDP and Australian jobs data are due. Get your market update from @ddubrovskyFX here: https://t.co/BsYmmWFYOH https://t.co/HhLqb2iVgk
  • #Gold prices have come under significant pressure to kick-off 2021. However, the formation of bullish technical patterns across multiple timeframes suggests that a rebound higher may be at hand. Get your market update from @DanielGMoss here: https://t.co/Dpf8N4Fh0T https://t.co/pnZpnM9yT5
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Learn about the importance of the ISM manufacturing index here: https://t.co/Xr3xtoFpZy https://t.co/yCtLFemdNc
  • GBP underpinned as BoE downplays negative rates, alongside vaccine rollout. Get your market update from @JMcQueenFX here: https://t.co/n6V6uw0XV5 https://t.co/Toq2fxSdBE
  • 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/5VzSt5Ak7R
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/Jkv0onMyZw
  • Why is JPY called a safe haven? What are some factors in its favor this quarter? Get your free forecast here: https://t.co/mzeJ5x73N3 #DailyFXGuides https://t.co/S4bwgGZxmw
Euro Fails to Pop on a Surprise German IFO Survey Amid Risk-Off Markets

Euro Fails to Pop on a Surprise German IFO Survey Amid Risk-Off Markets

2013-08-27 08:58:00
Benjamin Spier, Technical Strategist

THE TAKEAWAY: German IFO Business Climate Survey rises to a 16-month high -> German economy may continue towards a predicted year-end recession -> Euro declines along with equities

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

The Euro ignored a 16-month high in the IFO German Business Climate Survey and fell 50 pips against the US Dollar, possibly due to Syria related risk aversion across global markets.

The business climate survey for August was reported at 107.5, beating expectations for 107.0 and higher than 106.2 in July. The IFO expectations survey rose to 103.3 from 102.4, while the current assessment survey rose to 112.0 from 110.1.

The higher business climate supports a Bundesbank prediction for a recovery in the German economy for the rest of the year. The economy expanded by 0.7% in Q2, after unchanged GDP in Q1, but the Bundesbank also warns of a possible slowdown in the current summer. Signs of improved economic performance in the Euro-zone’s biggest economy are Euro positive.

There weren’t any other major releases during the European session. Towards the end of the session, Fed’s Williams and ECB’s Coeure will be speaking in Sweden, possibly triggering EUR/USD volatility in a time when both central banks’ actions are being heavily scrutinized.

The Euro is trading below 1.3350 against the US Dollar at the time of this writing, and the pair may see support around 1.3328, by an upward trend line from July. A six month high at 1.3451 may provide resistance.

New to Forex? Watch this video

EURUSD Daily: August 27, 2013

Euro_Fails_to_Pop_on_a_Surprise_German_IFO_Survey_Amid_Risk-Off_Markets_body_eurusd_daily_chart.png, Euro Fails to Pop on a Surprise German IFO Survey Amid Risk-Off Markets

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