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
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
Oil - US Crude
Bullish
Wall Street
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
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • Australian Dollar is up fractionally this week with Aussie stalling just below the yearly range highs. Here are the levels that matter on the $AUDUSD technical chart. Get your #currencies update from @MBForex here: https://t.co/jYzBK1qH4s https://t.co/gYj4tFbsGS
  • What is the road ahead for equities this coming week? Check out my fundamental outlook below! #DowJones #SP500 #DAX30 #FTSE100 https://www.dailyfx.com/forex/fundamental/forecast/weekly/title/2020/07/11/Dow-Jones-SP-500-DAX-30-FTSE-100-Outlook-Stocks-Week-Ahead.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/HjIBDKqwvO
  • #Gold price gains seem to depend on monetary stimulus expansion and may turn lower as contraction of the Federal Reserve’s balance sheet underpins the US Dollar. Get your #metals update from @DanielGMoss here: https://t.co/8NHLc8jdhw https://t.co/0YYKXqtY9V
  • Japanese candlesticks are a popular charting technique used by many traders, and the shooting star candle is no exception. Learn about the shooting star candlestick and how to trade it here: https://t.co/OjTZOQEytM https://t.co/DDCWX1In7k
  • The US Dollar is pressured as rising coronavirus cases fail to dent 2021 GDP bets. Could the Singapore Dollar, Indonesian Rupiah, Philippine Peso and Malaysian Ringgit rise? Find out from @ddubrovskyFX here:https://t.co/u1qhaIGGoC https://t.co/kvFgxQjLb0
  • The ASX 200 and AUD/JPY are at risk of losses as cases of Covid-19 continue to climb in Victoria, Australia’s second-most populous state. Get your #ASX market update from @DanielGMoss here: https://t.co/O0LNvhy4eY https://t.co/mS9vLeVU5Y
  • The Dow Jones could fall based on positioning signals, will the growth-linked Australian Dollar and Canadian Dollar follow? If so, what are the technical barriers ahead? Find out from @ddubrovskyFX here:https://t.co/yJrlR5C00P https://t.co/W45z2yNjr0
  • Further gains in USD/IDR could be curbed as USD/PHP establishes a floor around 2017 lows. USD/MYR may fall next as USD/SGD fast approaches a key falling trend line.Get your #ASEAN currencies market update from @ddubrovskyFX here:https://t.co/9JgZm2n8Fl https://t.co/Yg6WSFxt8T
  • The New Zealand Dollar is aiming higher, with NZD/USD eyeing fresh yearly highs while AUD/NZD may be carving out a bearish Head and Shoulders chart pattern. Get your $NZDUSD market update from @DanielGMoss here:https://t.co/osFxXvq5xF https://t.co/zcmqsFR9tg
  • RT @FxWestwater: $EURUSD & $AUDUSD in Focus Ahead of #ECB, Jobs & Retail Sales - @DailyFX https://www.dailyfx.com/forex/market_alert/2020/07/10/eurusd-audusd-eur-usd-aud-usd-in-focus-ahead-of-ecb-jobs-retail-sales.html https://t.co/uBR27tPwgF
FOREX: Dollar Sold on Strong US Data, Greek Bailout Deal Hopes

FOREX: Dollar Sold on Strong US Data, Greek Bailout Deal Hopes

2012-02-17 06:42:00
Ilya Spivak, Head Strategist, APAC
Share:

Talking Points

  • Dollar and Yen Sold on Strong US Economic Data, Greek Bailout Deal Hopes
  • Major Directional Moves Unlikely Before Monday’s Eurozone FinMin Meeting
  • US Leading Indicators Gauge to Hit 3-Year High, Core Inflation Unchanged

The US Dollar and Japanese Yen declined against their major counterparts as risk appetite recovered in overnight trade, sending capital out of the go-to safe haven currencies. The MSCI Asia Pacific regional benchmark equity index added 1.1 percent, buoyed by a strong set of US economic data that broadly exceeded expectations and bolstered the outlook for demand in the region’s core export market. News that the European Central Bank will participate in a Greek bond swap meant to reduce the country’s debt burden added to the chipper mood, fueling hopes that a long-delayed agreement on a second bailout package will be reached before maturing obligations force Athens to default in late March.

Looking ahead, a relatively quiet European economic calendar leaves the hopeful mood to play out ahead of Monday’s Eurozone finance ministers’ meeting where the final Greek deal is expected to be concluded. EU officials have blown their share of deadlines on this issue however, meaning traders are unlikely to commit to a meaningful directional bias until it is removed as a distraction from larger trends. Indeed, S&P 500 stock index futures are flat heading into the final hours of the trading week, seemingly reflecting just such an attitude.

US Consumer Price Index figures will come into the picture in the latter half of the session, with core inflation expected to hold unchanged at 2.2 percent to signal no substantial changes in the Federal Reserve policy outlook. The composite Leading Indicators gauge may help to sustain the cautiously optimistic tone now at work, with expectations calling for a 0.5 percent monthly increase to yield the highest reading since July 2008.

Asia Session: What Happened

GMT

CCY

EVENT

ACT

EXP

PREV

1:35

CNY

MNI Flash Business Sentiment Survey (FEB)

58.16

-

55.95

Euro Session: What to Expect

GMT

CCY

EVENT

EXP

PREV

IMPACT

7:00

EUR

German Producer Prices (MoM) (JAN)

0.3%

-0.4%

Medium

7:00

EUR

German Producer Prices (YoY) (JAN)

3.2%

4.0%

Medium

9:00

EUR

Euro-Zone Current Account n.s.a. (€) (DEC)

-

1.0B

Low

9:00

EUR

Euro-Zone Current Account s.a. (€) (DEC)

-

-1.8B

Low

9:30

GBP

Retail Sales ex Auto Fuel (MoM) (JAN)

-0.3%

0.6%

Medium

9:30

GBP

Retail Sales ex Auto Fuel (YoY) (JAN)

-0.1%

1.7%

Medium

9:30

GBP

Retail Sales w/ Auto Fuel (MoM) (JAN)

-0.2%

0.6%

Low

9:30

GBP

Retail Sales w/ Auto Fuel (YoY)(JAN)

0.6%

2.6%

Low

10:00

EUR

Euro-Zone Construction Output (MoM) (DEC)

-

0.8%

Low

10:00

EUR

Euro-Zone Construction Output (YoY) (DEC)

-

0.2%

Low

Critical Levels

CCY

SUPPORT

RESISTANCE

EURUSD

1.3017

1.3202

GBPUSD

1.5699

1.5919

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow me on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to ispivak@dailyfx.com

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

DISCLOSURES

News & Analysis at your fingertips.