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
Subscribe
Please try again
EUR/USD
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
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
Wall Street
Bearish
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • 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/Yl9vM73cHA https://t.co/vGW5BygTXU
  • When it comes to buying and selling forex, traders have unique styles and approaches. Learn about buying and selling forex here: https://t.co/xngExEdFdu https://t.co/kqpJ6oGXgt
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/F4dXbUzU3o https://t.co/G0ZWWVtSrZ
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfIZNKr https://t.co/5js6tWk5bY
  • The Euro has regained lost ground against its major counterparts recently. Are further gains in the offing or is this just a short-term countertrend correction? EUR/USD, EUR/JPY, EUR/GBP, EUR/NZD key levels. Get your market update from @DanielGMoss here:https://t.co/Z71MZEIJWC https://t.co/YAr1kN4eKd
  • Coinbase’s impending initial public offering could provide the necessary fuel for Bitcoin to push to fresh record highs in the coming days. Get your market update from @DanielGMoss here:https://t.co/twdu0zqmIM https://t.co/72HRMZlKUn
  • The Swiss Franc has positioned itself against key levels versus the Australian Dollar, New Zealand Dollar and Euro over the past week. Where next for AUD/CHF, NZD/CHF and EUR/CHF? Find out from @FxWestwater here:https://t.co/CrtQGzvWnm https://t.co/j5Zjn5zY0D
  • (Weekly Fundy) Australian Dollar Forecast: AUD/USD May Rise as Dovish Fed Calms Yields, US Dollar $AUDUSD #AUD #USD #Bonds #Fed https://www.dailyfx.com/forex/fundamental/forecast/weekly/aud/2021/04/17/Australian-Dollar-Forecast-AUDUSD-May-Rise-as-Dovish-Fed-Calms-Yields-US-Dollar.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/gQDr5fBosb
  • The Japanese Yen and Swiss Franc may outperform the US Dollar amid rising long bets in USD/JPY and USD/CHF. But, broader uptrends since January could still remain in play. Get your market update from @ddubrovskyFX here:https://t.co/Qpeuuyrxhj https://t.co/EfgW9aj7wo
  • Bitcoin struggled to maintain a push into record highs and appears to be vulnerable to a near-term pullback. Litecoin and Ethereum saw more aggressive gains, will their momentum accelerate? Get your $btc market update from @ddubrovskyFX here:https://t.co/f5d7qs5j3z https://t.co/xxMX4YFKCC
FOREX: Dollar, Yen Sold as Risk Appetite Firms on ECB LTRO Hopes

FOREX: Dollar, Yen Sold as Risk Appetite Firms on ECB LTRO Hopes

Ilya Spivak, Head Strategist, APAC

Talking Points

  • Dollar, Yen Sell Off as Risk Appetite Firms Ahead of ECB LTRO Outcome
  • Euro Likely to Look Past German CPI Data as Inflation Rate Holds Steady

The US Dollar and Japanese Yen declined against most of their leading counterparts in overnight as Asian stocks rose, sapping demand for the go-to safe haven currencies. Risk appetite is on the upswing as traders look ahead to the outcome of the second 3-year ECB long-term refinancing operation (LTRO). Median forecasts call for a take-up of €470 billion this time around after a €489 billion outing in December. As discussed in detail in our weekly fundamental trends monitor, such an outcome is likely to downgrade the threat of a Eurozone-driven credit crunch in the eyes of investors, boosting market-wide sentiment. The final LTRO results are due to be announced tomorrow.

S&P 500 stock index futures are trading higher in early European trade, hinting the risk-on mood is likely to continue to boost risk-linked currencies against the greenback and the Yen. On the data front, the focus is on February’s preliminary German Consumer Price Index reading. Expectations suggest the annual inflation rate will remain unchanged at 2.1 percent for the third consecutive month, a likely neutral outcome for the Euro. Indeed, priced-in expectations already call for a flat ECB outlook in the coming 12 months, so confirmation of the status quo is unlikely to mean much for the single currency particularly as LTRO preoccupies traders’ attention.

Asia Session: What Happened

GMT

CCY

EVENT

ACT

EXP

PREV

23:50

JPY

Retail Trade s.a. (MoM) (JAN)

4.1%

1.0%

0.3%

23:50

JPY

Retail Trade (YoY) (JAN)

1.9%

-0.1%

2.5%

23:50

JPY

Large Retailers' Sales (JAN)

-1.0%

-1.1%

-0.3% (R-)

5:00

JPY

Small Business Confidence (FEB)

45.3

-

45.7

Euro Session: What to Expect

GMT

CCY

EVENT

EXP

PREV

IMPACT

7:00

EUR

German GfK Consumer Confidence Survey (MAR)

6.0

5.9

Medium

7:00

CHF

UBS Consumption Indicator (JAN)

-

0.92

Medium

10:00

EUR

Euro-Zone Business Climate Indicator (FEB)

-0.15

-0.21

Low

10:00

EUR

Euro-Zone Consumer Confidence (FEB F)

-20.2

-20.2

Medium

10:00

EUR

Euro-Zone Economic Confidence (FEB)

94

93.4

Low

10:00

EUR

Euro-Zone Industrial Confidence (FEB)

-7

-7.2

Low

10:00

EUR

Euro-Zone Services Confidence (FEB)

-0.6

-0.6

Low

11:00

GBP

CBI Reported Sales (FEB)

-12

-22

Low

13:00

EUR

German CPI (MoM) (FEB P)

0.5%

-0.4%

Medium

13:00

EUR

German CPI (YoY) (FEB P)

2.1%

2.1%

High

13:00

EUR

German CPI - EU Harmonised (MoM) (FEB P)

0.5%

-0.5%

Medium

13:00

EUR

German CPI - EU Harmonised (YoY) (FEB P)

2.2%

2.3%

High

Critical Levels

CCY

SUPPORT

RESISTANCE

EURUSD

1.3350

1.3528

GBPUSD

1.5789

1.5937

--- 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