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.

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
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
Gold
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
Bullish
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
Bitcoin
Bearish
More View more
Real Time News
  • What are the six different types of stocks every trader should know? Find out from @WVenketas here: https://t.co/yO3Jal2Pwk https://t.co/ukJof0fWYH
  • Hey, traders 👋 do you want live AMAS with our analysts, market updates and tools to improve your trading strategy? Join us now on Instagram! 👉 https://t.co/pHGzVMI3tC https://t.co/AJHmBpX6gd
  • RT @malkudsi: Canadian Dollar Weekly Forecast: USD/CAD Reverses Lower, What’s Next? More details in the link below: https://t.co/gcN0SU2…
  • BOJ's Kuroda: - BOJ economic forecasts are based on different assumptions vs those of the government - BOJ path for CPI ends up being higher than government projection #JPY
  • RT @YuanTalks: Hubei privince, the epicenternof the #coronavirus cases, has revised the number of new cases on Thursday upward to 631 from…
  • A brief $AUD recovery may have run out of steam, with the currency poised to break range support and test below 0.66 against its US counterpart. Get your market update from @IlyaSpivak here:https://t.co/dqr2Vpbnjk https://t.co/HIq0i37RbY
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.02%, while traders in France 40 are at opposite extremes with 80.94%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/tiK3d5TnFL
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.12% 🇯🇵JPY: 0.11% 🇨🇭CHF: 0.10% 🇨🇦CAD: 0.08% 🇦🇺AUD: -0.13% 🇳🇿NZD: -0.34% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/WGWYCqlCT1
  • Indices Update: As of 05:00, these are your best and worst performers based on the London trading schedule: Germany 30: -0.27% France 40: -0.31% Wall Street: -0.41% US 500: -0.47% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/cOwOxBR3WQ
  • 🇯🇵 JPY All Industry Activity Index (MoM) (DEC), Actual: 0.0% Expected: 0.3% Previous: 0.9% https://www.dailyfx.com/economic-calendar#2020-02-21
FX Headlines: Euro Drops on Weaker German Labor Market, European PMIs

FX Headlines: Euro Drops on Weaker German Labor Market, European PMIs

2013-10-01 09:30:00
Christopher Vecchio, CFA, Sr. Currency Strategist
Share:

Talking Points

- EURUSD balks at $1.3600 on weaker German labor data.

- Euro-Zone PMI figures a touch softer, signaling “top” in growth.

- See noteworthy events on the global FX economic calendar for the week of September 29 to October 4, 2013.

To keep up with the European data and news as the week goes forward, be sure to sign up for my distribution list.

EURO-ZONE ECONOMIC CALENDAR

FX_Headlines_Euro_Drops_on_Weaker_German_Labor_Market_European_PMIs_body_Picture_1.png, FX Headlines: Euro Drops on Weaker German Labor Market, European PMIs

German labor market data surprised lower by a fair margin in September, stirring concerns that regional economic activity may have reached its apex midsummer. Indeed, the slight retracement in individual Euro-Zone countries’ PMI figures points to a “top” in growth having been reached in the near-term, as it appears that a lack of credit growth in the Euro-Zone has become a drag.

This concern dates back to early-August when ECB President Draghi first noted the decline in Euro-Zone excess reserves. As noted several weeks ago, we believe there have been indications that another LTRO may be in the works, which would be EUR-negative similar to December 2011 and February 2012.

Read more: Euro, US Dollar Drop versus Japanese Yen amid Political Déjà Vu

UK ECONOMIC CALENDAR

FX_Headlines_Euro_Drops_on_Weaker_German_Labor_Market_European_PMIs_body_x0000_i1028.png, FX Headlines: Euro Drops on Weaker German Labor Market, European PMIs

The slowdown in Euro-Zone economic activity midyear has manifested itself in UK economic data, as the September PMI Manufacturing report showed today. A softer than expected print has manufacturing activities near a two-year peak, but slightly off of its yearly high seen midsummer. The UK economy is significantly stronger than where it was just one year ago; and resiliency in data is expected barring a deeper drag in Euro-Zone economic activity.

Read more: Pound Eyes 1.6200 on More Hawkish BoE, Stronger U.K. Recovery

SWISS ECONOMIC CALENDAR

There are no data due for the Swiss Franc on Tuesday, October 1.

Read more: US Dollar Set for Breakout, Risk and Budget Standoff Decide Magnitude

Want to automate your trading or trade baskets of currencies? Try Mirror Trader.

--- 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

News & Analysis at your fingertips.