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
EUR/USD
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
Oil - US Crude
Mixed
Wall Street
Mixed
Gold
Bearish
GBP/USD
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
USD/JPY
Bullish
More View more
Real Time News
  • What is seasonal change in volatility. Are we going through one right now? Find out: https://t.co/G0qfpOmMl2 https://t.co/HXCQzUQgxA
  • The US Dollar will be bracing for a cascade of political risks including the first presidential debate, ongoing stimulus talks, the Supreme Court vacancy against the backdrop of key employment data. Get your #currencies update from @ZabelinDimitri here: https://t.co/quU4MmUjxA https://t.co/jF6ubwRz1P
  • The Indian Rupee may be at risk to the US Dollar as USD/INR attempts to refocus to the upside. This is as the Nifty 50, India’s benchmark stock index, could fall further. Get your $USDINR market update from @ddubrovskyFX here:https://t.co/3wsYlSxd26 https://t.co/PfIVibmqn1
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out: https://t.co/td5WA4hCZC https://t.co/lKvEMf4QRe
  • Weakness in equity markets continued last week as losses built and technical patterns hint further bearishness might be ahead. Get your #equities update from @PeterHanksFX here: https://t.co/GGVrB3r7if https://t.co/HPHUC8EG3o
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here: https://t.co/5uSWKoLkd6 https://t.co/q80wSAoxXP
  • There is a great debate about which type of analysis is better for a trader. Is it better to be a fundamental trader or a technical trader? Find out here: https://t.co/aVAzFypAg1 https://t.co/7mc19Gxrvm
  • #Gold prices succumbed to selling pressure as the US Dollar soared this past week What is #XAUUSD facing these next few days and can these fundamental forces extend its selloff? Check out my outlook here - https://www.dailyfx.com/forex/fundamental/forecast/weekly/chf/2020/09/26/Gold-Price-Outlook-Rising-US-Dollar-Sinks-XAUUSD-Will-Losses-Extend.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/gPhy0KoW3W
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/38gTDnpPbn https://t.co/Xtk5g4JQEB
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here: https://t.co/3Wked6GBOp https://t.co/SsUguHB39W
FX Headlines: European Data Watch for June 18, 2013

FX Headlines: European Data Watch for June 18, 2013

2013-06-18 08:00:00
Christopher Vecchio, CFA, Senior Strategist
Share:

EUROPEAN FX HEADLINES: WEEK OF JUNE 16

- Euro and US Dollar Traders on Edge Ahead of Critical FOMC Decision

- British Pound Eyes Fresh Highs on Faster Inflation, BoE Minutes

- All Eyes on Fed Meeting on Wednesday; No Taper but Hawkish Guidance

EURO-ZONE ECONOMIC CALENDAR

FX_Headlines_European_Data_Watch_for_June_18_2013_body_Picture_1.png, FX Headlines: European Data Watch for June 18, 2013

The Euro-zone calendar this week picks up today with the market moving June ZEW Survey due for both the broader Euro-zone and Germany. The recent improvement in growth data in May is likely to be reflected in the June sentiment surveys, with German Economic Sentiment notably expected to improve back to 38.1, after having fallen off from the yearly highs set in March at 48.5.

Overall, the three-month averages for both components of the German ZEW Survey – Current Situation and Economic Sentiment – remain near their lowest levels since mid-2010, underscoring the fragility of growth prospects in the region. Accordingly, given the recent sustained elevated exchange rate of the Euro relative to its major peers, risk is weighted to the downside as the ‘good news’ has thus far been priced in; a miss on a significant report such as the ZEW Survey would likely lead to selling pressure anew.

UK ECONOMIC CALENDAR

FX_Headlines_European_Data_Watch_for_June_18_2013_body_x0000_i1028.png, FX Headlines: European Data Watch for June 18, 2013

Headline risk out of the UK on Tuesday comes in the form of May inflation data, as the recent bout of disinflation appears to have run its course with an uptick on the headline yearly figures expected. While the headline CPI figure is expected to rebound to +2.6% y/y from +2.4% y/y, the core reading – the Bank of England’s preferred measuring stick for the UK’s stick price pressures – is only expected to tick marginally higher above the BoE’s +2% yearly target, to +2.1%.

These figures fit in nearly with the recent uptick in UK data in May, and add to the growing belief that incoming BoE Governor Mark Carney will be forced to take a more cautious approach during his first months. Earlier in the year, disinflation coupled with modest labor market growth and quelled growth prospects – culminating in the UK losing its ‘AAA’ rating in February – stirred speculation that Governor Carney would take the reins and implement extremely dovish policies. In December 2012, Governor Carney suggested that central banks hadn’t reached the bottom of their policy toolbox despite interest rates tethered near zero, going so far as to suggest that nominal GDP targeting could be implemented.

As such, further upside in UK CPI readings puts any chance of new dovish policies on hold in the near-term, which inherently is supportive of higher Gilt yields and thus a stronger British Pound. I’ll be looking for the British Pound to rally, particularly against the Euro and the US Dollar, on a strong CPI reading; join me at 04:15 EDT/08:15 GMT in the DailyFX Live Trading Room to discuss trade setups ahead of the data release.

SWISS ECONOMIC CALENDAR

There are no key events on the calendar for the Swiss Franc on Tuesday, June 18.

See the DailyFX Economic Calendar for a full list, timetable, and consensus forecasts for upcoming economic indicators. Want the forecasts to appear right on your charts? Download the DailyFX News App.

--- Written by Christopher Vecchio, Currency Analyst

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com

Follow him on Twitter at @CVecchioFX

To be added to Christopher’s e-mail distribution list, please fill out this form

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

DISCLOSURES