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 Download
EUR/USD
Bullish
GBP/USD
Bullish
USD/JPY
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
Oil - US Crude
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
Bitcoin
Mixed
More View more
Real Time News
  • 🇪🇺 EUR French Gross Domestic Product (YoY) (4Q F), Actual: 0.9% Expected: 0.8% Previous: 0.8% https://www.dailyfx.com/economic-calendar#2020-02-28
  • Heads Up:🇨🇭 CHF KOF Leading Indicator (FEB) due at 08:00 GMT (15min), Actual: N/A Expected: 97.8 Previous: 100.1 https://www.dailyfx.com/economic-calendar#2020-02-28
  • 🇨🇭 CHF Retail Sales Real (YoY) (JAN), Actual: -0.1% Expected: N/A Previous: 0.8% https://www.dailyfx.com/economic-calendar#2020-02-28
  • 🇨🇭 CHF Retail Sales Real (YoY) (JAN), Actual: -0.1% Expected: N/A Previous: 0.1% https://www.dailyfx.com/economic-calendar#2020-02-28
  • Hey traders! Want to get your market coverage on Instagram? Follow us @Dailyfx_Markets for live AMAS with our analysts, market updates and tools to improve your trading strategy. Start following us today! https://t.co/w4Dfhfw6gl
  • Heads Up:🇪🇺 EUR French Gross Domestic Product (YoY) (4Q F) due at 07:45 GMT (15min), Actual: N/A Expected: 0.8% Previous: 0.8% https://www.dailyfx.com/economic-calendar#2020-02-28
  • Heads Up:🇨🇭 CHF Retail Sales Real (YoY) (JAN) due at 07:30 GMT (15min), Actual: N/A Expected: N/A Previous: 0.1% https://www.dailyfx.com/economic-calendar#2020-02-28
  • EUR Germany Jan Import Prices MM: Actual: -0.4% Expected: 0.3% Previous: 0.2% Import Prices Actual: -0.9% Expected: -0.3% Previous: -0.7%
  • 🇬🇧 GBP Nationwide House Px n.s.a. (YoY) (FEB), Actual: 2.3% Expected: 2.3% Previous: 1.9% https://www.dailyfx.com/economic-calendar#2020-02-28
  • Japanese Yen May Rise if #COVID19 Triggers a Credit Crisis - https://www.dailyfx.com/forex/fundamental/article/special_report/2020/02/28/Japanese-Yen-May-Rise-if-COVID-19-Triggers-a-Credit-Crisis.html
USD and EURGBP Rises on Month-End Demand, Italy Stagnates - US Market Open

USD and EURGBP Rises on Month-End Demand, Italy Stagnates - US Market Open

2018-10-30 13:39:00
Justin McQueen, Analyst
Share:

MARKET DEVELOPMENT – MONTH-END SPURS USD AND EURGBP DEMAND

EUR: The first insight into Q3 growth in the Eurozone showed a drop to 1.7% from 2.1%, falling below estimates of 1.8%, with a quarterly rise of 0.2%. Elsewhere, Italian GDP stagnated in the third quarter, providing a blow to the Italian government, whose growth projections seem optimistic. However, it does strengthen their case that they need an expansive budget to support growth. EUR initially softer as growth slows, although, rising German inflation has helped curb further losses. 1.13 remains the key support level on the downside, while resistance is situated at 1.14, before 1.1430. Elsewhere, the Euro is outperforming the Pound, given the usual month-end demand with the cross now back above the 0.89 handle.

.

USD: The US Dollar continues to track higher, having taken out last week’s high, the Dollar looks to move towards the YTD peak. Short term drivers support with month-end flows increasing USD demand.

AUD: The Australian Dollar is the notable outperformer this morning amid a slight stabilisation in the Yuan (shortly after China’s market open), while talk from President Trump that the US and China can create a great deal has also added to the improved sentiment for the Aussie. However, with AUD failing to get a foothold above 0.71 and with stocks retreating, the Australian Dollar may be vulnerable to a slight pullback.

DailyFX Economic Calendar: Tuesday, October 30, 2018 – North American Releases

USD and EURGBP Rises on Month-End Demand, Italy Stagnates - US Market Open

DailyFX Webinar Calendar: Tuesday, October 30, 2018

USD and EURGBP Rises on Month-End Demand, Italy Stagnates - US Market Open

Five Things Traders are Reading

  1. Cryptocurrencies Under Increased UK Regulatory Scrutiny” by Nick Cawley, Market Analyst
  2. US Dollar on the Cusp of Fresh Yearly Highsby Christopher Vecchio, CFA , Sr. Currency Strategist
  3. Technical Outlook for USD Index, EUR/USD, AUD/NZD, Gold Price & Moreby Paul Robinson , Market Analyst
  4. EURUSD Threatens to Test Crucial Support as Growth Tilts to Downside” by Justin McQueen, Market Analyst
  5. US - China Trade War Rhetoric Weighing Further on the Chinese Yuan (CNH)” by Justin McQueen, Market Analyst

--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at Justin.mcqueen@ig.comFollow Justin on Twitter @JMcQueenFX

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

DISCLOSURES

News & Analysis at your fingertips.