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
More View more
Real Time News
  • 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/9S5tXIs3SX https://t.co/dTQqfHXNtM
  • Gold Prices Test $1800 Ahead of Fed Meeting, Real Yields Fall https://www.dailyfx.com/forex/market_alert/2021/07/27/Gold-Prices-Test-1800-Support-ahead-of-Fed-Meeting-Real-Yields-Fall.html
  • The Hang Seng Tech index tumbled 5.4% amid intensified fears about China's regulatory risk on various sectors. - Tencent (-6.2%) - Alibaba (-5.0%) - Meituan (-13.9%) - Hang Seng Index (-2.5%)
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here: https://t.co/vg7w10la3j https://t.co/A0w6mhPMvH
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.33%, while traders in Wall Street are at opposite extremes with 79.17%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/AY4wL5b1NV
  • 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/IsnpfJhp91 https://t.co/NrcUfXKP8J
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.16% 🇬🇧GBP: 0.05% 🇪🇺EUR: 0.00% 🇦🇺AUD: -0.02% 🇨🇭CHF: -0.03% 🇳🇿NZD: -0.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/UwJz4Gv6hT
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: France 40: 0.12% FTSE 100: -0.02% Germany 30: -0.04% US 500: -0.16% Wall Street: -0.16% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/cGDe8jiSqf
  • Forex sentiment analysis can be a useful tool to help traders understand and act on price behavior. Learn how to get the most out of understanding trader sentiment here: https://t.co/rJznrXkcYz https://t.co/ne0HPR7lO2
  • China considers levies on steel exports to tame domestic prices - BBG
Euro, Top Currencies Focus on Spanish Bond Sale and Earnings Docket

Euro, Top Currencies Focus on Spanish Bond Sale and Earnings Docket

Ilya Spivak, Head Strategist, APAC

Talking Points

  • All Eyes on Spanish Bond Auctions Amid Returning Eurozone Debt Fears
  • Traders Most Concerned with Guidance as Q1 Reporting Season Continues
  • Last Batch of US Data This Weeks Aims to Produce Risk-Supportive Cues

Eurozone debt crisis worries take center stage in European hours as traders look for the outcomes of a pair Spanish bond auctions for direction. Madrid is due to sell 2014 and 2022 debt. Previous auctions of equivalent maturities drew average yields of 2.069 and 5.403 percent for 2-year and 10-year notes respectively. Readings north of these outcomes threaten to project returning funding stress in the currency bloc and stand to weigh on the Euro and broad-based risk appetite.

The spread between yields on Spanish and benchmark German 10-year bonds now stands at 410.2 basis points, which is 67.6bps or 2 standard deviations above its three-month average. France is also on the issuance calendar, with Paris selling up to 3bn in 2018 inflation-linked bonds as well as a tranche of 2014, 2015 and 2017 paper.

Later in the session, another helping of corporate earnings reports enters the spotlight, with names including Bank of America, Verizon and Microsoft on tap. Traders appear primarily concerned with guidance from major cycle-sensitive companies as the primary question defining the macro environment remains the degree to which a pickup in the US can offset a slowdown in China and recession in the Eurozone this year.

On the US economic data front, expectations call for a minor pullback in the Philadelphia Fed business confidence gauge in April while Existing Home Sales rise the most in five months while the composite Leading Indicators metric gains 0.2 percent to reach the highest level since June 2008. Weekly jobless claims numbers are expected to yield mixed results, with initial applications for benefits down while continuing ones advance.

The US Dollar (ticker: USDollar) continues to show a formidable inverse correlation with the S&P 500, hinting a pick-up in risk appetite that sends share prices higher – whether courtesy of earnings outcomes or the economic data set – is likely to weigh on the benchmark currency. Needless to say, the inverse scenario stands to produce the opposite effect.

Asia Session: What Happened

GMT

CCY

EVENT

ACT

EXP

PREV

22:00

NZD

ANZ NZ Job Ads (MoM) (MAR)

-1.0%

-

4.6% (R-)

22:45

NZD

Consumer Prices Index (QoQ) (1Q)

0.5%

0.5%

-0.3%

22:45

NZD

Consumer Prices Index (YoY) (1Q)

1.6%

1.6%

1.8%

23:50

JPY

Merchandise Trade Balance Total (¥) (MAR)

-82.6B

-223.2B

29.4B

23:50

JPY

Adj. Merchandise Trade Balance (¥) (MAR)

-223.2B

-446.3B

-321.4B (R-)

23:50

JPY

Merchandise Trade Exports (YoY) (MAR)

5.9

0.2

-2.7

23:50

JPY

Merchandise Trade Imports (YoY) (MAR)

10.5

7.0

9.2

1:30

AUD

NAB Business Confidence (1Q)

-1

-

1

1:30

AUD

RBA FX Transaction (A$) (MAR)

944M

-

372M

Euro Session: What to Expect

GMT

CCY

EVENT

EXP

PREV

IMPACT

8:00

EUR

Italian Industrial Orders sa (MoM) (FEB)

-1.1%

-7.4%

Low

8:00

EUR

Italian Industrial Orders nsa (YoY) (FEB)

-6.2%

-5.6%

Low

8:00

EUR

Italian Industrial Sales sa (MoM) (FEB)

-

-4.9%

Low

8:00

EUR

Italian Industrial Sales nsa (YoY) (FEB)

-

-4.4%

Low

8:30

EUR

Spain to Sell 3.3% 2014 Bonds

-

-

High

8:30

EUR

Spain to Sell 5.85% 2022 Bonds

-

-

High

9:00

EUR

France to Sell €3bn I/L 2018 Bonds

-

-

Medium

9:00

EUR

France to Sell 2014-2017 bonds

-

-

Medium

Critical Levels

CCY

SUPPORT

RESISTANCE

EURUSD

1.3074

1.3157

GBPUSD

1.5931

1.6135

--- 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