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
Bearish
Oil - US Crude
Mixed
Wall Street
Bearish
Gold
Bearish
GBP/USD
Bearish
USD/JPY
Mixed
More View more
Real Time News
  • Heads Up:🇯🇵 BoJ Interest Rate Decision due at 03:00 GMT (15min) Expected: -0.1% Previous: -0.1% https://www.dailyfx.com/economic-calendar#2021-06-18
  • the brooding music when they get to Roxxcart in episode 2? enthralling
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Silver: 1.13% Gold: 0.60% Oil - US Crude: -0.78% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/8rSA2ohup8
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here: https://t.co/e4CnobJCss https://t.co/Yh0PRRRzYl
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.09% 🇪🇺EUR: 0.08% 🇨🇦CAD: 0.06% 🇨🇭CHF: 0.02% 🇯🇵JPY: 0.01% 🇳🇿NZD: -0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/vbRu3EprVx
  • maybe I’m biased as a former violinist but wow is @filmmusicholt’s score in #Loki unbelievable.
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Gold are long at 83.82%, while traders in France 40 are at opposite extremes with 78.68%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/Ur8BEXEQew
  • Natural gas spot prices have been on the rise, recapturing a key trendline, following the EIA’s Short-Term Energy Outlook. Where can prices head from here? Find out from @FxWestwater here:https://t.co/yK48nZD1ag https://t.co/Rbs94oGSC7
  • USD/CHF Falling Wedge Breakout Nears Target, Trend to Continue? - #USDCHF chart https://t.co/vgrZHTjQnj
  • EUR/USD IG Client Sentiment: Our data shows traders are now at their most net-long EUR/USD since Mar 26 when EUR/USD traded near 1.18. A contrarian view of crowd sentiment points to EUR/USD weakness. https://www.dailyfx.com/sentiment https://t.co/G3PTMBx4s5
FX Headlines: European Data Watch for July 5, 2013

FX Headlines: European Data Watch for July 5, 2013

Christopher Vecchio, CFA, Senior Strategist

EUROPEAN FX HEADLINES: WEEK OF JUNE 30

- British Pound’s Prospects Damaged by GDP Revision; BoE on Hold this Week

- Euro Attempting to Avoid Crisis Conviction, ECB on Tap

- Gold: $1181 Paramount for Bulls

EURO-ZONE ECONOMIC CALENDAR

FX_Headlines_European_Data_Watch_for_July_5_2013_body_Picture_1.png, FX Headlines: European Data Watch for July 5, 2013

Only one item on the Euro-Zone calendar warrants attentin on Friday, and that is the May German Factory Orders report. Accordingly, in line with the recent outperformance (relative to consensus forecasts compiled by Bloomberg News) of German data, specifically the June labor market report and the May Retail Sales report, a stronger figure here wouldn’t be surprising.

Likewise, Factory Orders have proven to be stronger of recent. One caveat: the final May PMI Manufacturing was 49.4, signaling a modest contraction in the sector. A beat here would imply increased trade activity with German’s Euro-Zone neighbors, which might boost optimism in a thin market following the massive Euro selloff on Thursday.

UK ECONOMIC CALENDAR

There is no data on the UK econmic docket for Friday, July 5. Accordingly, the British Pound will be influenced by two significant factors: first, the continued pricing in of the Bank of England’s new “forward guidance” policy, which sunk the Sterling across the board on Thursday; and second, whether or not the June US labor market report will vindicate recent US Dollar strength, which could be accentuated on a headline >+185K.

SWISS ECONOMIC CALENDAR

FX_Headlines_European_Data_Watch_for_July_5_2013_body_x0000_i1028.png, FX Headlines: European Data Watch for July 5, 2013

Whereas most Swiss data has been rather benign since the SNB implemented the Sf1.2000 floor for EURCHF, the June Consumer Price Index report has the potential to produce additional volatility, excess of that already present due to major developing global themes in recent weeks. (Including but not limited to: the Fed taper; the Chinese credit crunch; the emerging market plunge; and the legitimacy of ‘Abenomics.’)

The main takeaway is that a weaker pace of deflation (towards a positive CPI headline) is a disincentive for the SNB to increase its interventionist activities. Nevertheless, with other European central banks digging into “forward guidance” to keep rates tethered lower for the foreseeable future, persistent deflation might just be the excuse the SNB needs to raise the EURCHF floor to 1.2500 or even 1.3000.

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