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
Bearish
Oil - US Crude
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
Wall Street
Mixed
Gold
Bullish
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • Forex Update: As of 17:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.95% 🇨🇦CAD: 0.69% 🇳🇿NZD: 0.58% 🇯🇵JPY: -0.09% 🇪🇺EUR: -0.11% 🇨🇭CHF: -0.56% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/6y7ipeRMTH
  • interested to see the responses here $Gold https://t.co/NBz8Jyy1qu
  • Gold prices hit a fresh seven-month low last week, eventually finding Fibonacci support. But with US rates in focus for the Fed on 3-16 - what will happen first?
  • https://t.co/mviHFA68q9
  • #Bitcoin, #Gold, #Dollar, $EURUSD, $AUDUSD and $USDCAD Technical Levels - (Webinar Archive) - https://t.co/YozHhSFHxc
  • Indices Update: As of 17:00, these are your best and worst performers based on the London trading schedule: US 500: 2.39% Wall Street: 2.18% FTSE 100: 0.23% Germany 30: 0.17% France 40: 0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/O0R5hSwfSN
  • #Gold attempted to rebound from multi-month lows today, climbing as high as $1,760 before hitting resistance and turning back downwards. The precious metal is now trading back around $1,735. $XAU $GLD https://t.co/QgXRBljgWe
  • Equities have managed to start the new month on the front foot as bond yields are taking a breather from their rapid surge over the last few weeks. DAX 30 bulls aim towards the 14,000 mark. Get your #DAX market update from @HathornSabin here:https://t.co/E7CYIM0KQC https://t.co/bnFyQfXLP6
  • ECB President Lagarde: - Pandemic is still heavily weighing on European economies - ECB will do its job to ensure firms and families can access finances needed to weather the storm - They can do so with confidence that financing conditions will not tighten prematurely #ECB $EUR
  • Heads Up:💶 ECB President Lagarde Speech due at 16:10 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-03-01
Dollar, Yen Vulnerable on Euro Zone and US Economic Data

Dollar, Yen Vulnerable on Euro Zone and US Economic Data

Ilya Spivak, Head Strategist, APAC

Talking Points

  • Risks Skewed to the Upside for Euro, Aussie Dollar on Q1 Eurozone GDP Data
  • S&P 500 Index Futures Point Higher, Threatening US Dollar and Japanese Yen
  • Soft US Inflation and Retail Sales Numbers May Stoke Fed QE3 Expectations

The roundup of preliminary Eurozone GDP figures are in focus, with the region-wide reading expected to show output shrank 0.2 percent in the three months through March. This would mark the second consecutive period of contraction, putting the currency bloc in a technical recession. With the average value of the Euro against its top counterparts at four-month lows and net-short positioning among small speculators at a record high according to data from the CFTC, volatility risk looks to be to upside, with positive surprises likely to spark a bout of profit-taking.

An upside surprise on European growth readings may also prove supportive for risk appetite at large considering the Eurozone recession represents the most significant headwind facing global output as a whole this year, boosting the likes of the Australian, Canadian and New Zealand Dollars while punishing go-to safe havens including the US Dollar and Japanese Yen. May’s German ZEW survey of investor may marginally cap any emerging exuberance with forecasts calling for the first drop in sentiment in six months, but a souring outlook would hardly surprise most given the tone of recent news-flow and so may not prove meaningfully market-moving.

On the sentiment front, S&P 500 stock index futures are pointing firmly higher to reinforce the likelihood of a risk-on mood (albeit on a short-term, corrective basis). The US economic data set may further gains in sentiment-linked assets as headline CPI figures show the annual inflation rate slowed to 2.3 percent in April while Retail Sales grew at the weakest pace in four months, fueling Fed QE3 expectations. The Empire Manufacturing gauge of New York State factory-sector activity may offer a minor countervailing force on this front, with economists expecting a shallow rebound in May after the gauge sank to a five-month low in April.

Asia Session: What Happened

GMT

CCY

EVENT

ACT

EXP

PREV

1:30

AUD

RBA May Meeting Minutes

-

-

-

1:30

AUD

New Motor Vehicle Sales (MoM) (APR)

-0.7%

-

4.1% (R+)

1:30

AUD

New Motor Vehicle Sales (YoY) (APR)

7.3%

-

4.0%

1:48

CNY

Actual FDI (YoY) (APR)

-0.7%

2.8%

-6.1%

3:00

NZD

Non Resident Bond Holdings (APR)

62.1%

-

60.9%

5:00

JPY

Consumer Confidence (APR)

40.0

40.8

40.3

Euro Session: What to Expect

GMT

CCY

EVENT

EXP

PREV

IMPACT

5:30

EUR

French CPI (MoM) (APR)

0.2%

0.8%

Low

5:30

EUR

French CPI (YoY) (APR)

2.2%

2.3%

Low

5:30

EUR

French GDP (QoQ) (1Q P)

0.0%

0.1%

Medium

5:30

EUR

French GDP (YoY) (1Q P)

0.5%

1.2%

Medium

6:00

EUR

German GDP w.d.a. (YoY) (1Q P)

0.8%

2.0%

High

6:00

EUR

German GDP n.s.a. (YoY) (1Q P)

0.9%

1.5%

High

6:00

EUR

German GDP s.a. (QoQ) (1Q P)

0.1%

-0.2%

High

6:45

EUR

French Non-Farm Payrolls QoQ (1Q P)

-0.2%

-0.1%

Low

6:45

EUR

French Wages (QoQ) (1Q P)

0.7%

0.3%

Low

8:00

EUR

Italian GDP s.a. and w.d.a. (QoQ) (1Q P)

-0.7%

-0.7%

Medium

8:00

EUR

Italian GDP s.a. and w.d.a. (YoY) (1Q P)

-1.2%

-0.4%

Medium

8:30

GBP

Visible Trade Balance (£)

-8400

-8772

Low

8:30

GBP

Trade Balance Non EU (£)

-4700

-5017

Low

8:30

GBP

Total Trade Balance (£)

-2900

-3396

Low

9:00

EUR

Portugal GDP n.s.a. (YoY) (1Q P)

-3.1%

-2.8%

Medium

9:00

EUR

Euro-Zone GDP s.a. (QoQ)

-0.2%

-0.3%

High

9:00

EUR

Euro-Zone GDP s.a. (YoY)

-0.2%

0.7%

High

9:00

EUR

Portugal GDP s.a. (QoQ) (1Q P)

-1.0%

-1.3%

Medium

9:00

EUR

German ZEW Survey (Current Situation) (MAY)

39.0

40.7

High

9:00

EUR

German ZEW Survey (Econ Sentiment) (MAY)

19.0

23.4

High

9:00

EUR

Euro-Zone ZEW Survey (Econ Sentiment) (MAY)

-

13.1

Medium

Critical Levels

CCY

SUPPORT

RESISTANCE

EURUSD

1.2794

1.2934

GBPUSD

1.6055

1.6126

--- 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