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
EUR/USD
Bullish
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 87.94%, while traders in EUR/USD are at opposite extremes with 71.17%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/wSWdSw9NMi
  • WTI crude oil price action has been quite volatile today around Iran nuclear deal talks. The commodity is currently down -1.2% on the session after falling as much as -4.3% from intraday highs. #OOTT $CL_F $USO https://t.co/IPeHsxVYO8
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: US 500: -0.14% FTSE 100: -0.17% Wall Street: -0.21% Germany 30: -0.22% France 40: -0.30% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/7ak6BIkvMw
  • Biden administration delays revamp of Trump's blacklist for China investments -BBG $USDCNH $SHCOMP
  • $EURUSD breakout stalled (so far) around the same spot that caught the feb top fib from the same study that caught the low in march (at the 38.2) https://t.co/ikWed0YfwE https://t.co/OfvmSW2V4S
  • The USD/CAD breakdown has stalled into lateral technical support at 1.2048/61 and the focus is on a reaction off this mark. Get your $USDCAD @MBForex here:https://t.co/LMTzDyI1df https://t.co/hD74PjjJHk
  • US Dollar Outlook: DXY Index Hammered as Treasury Yields Ebb -via @DailyFX Link to Full Analysis: https://www.dailyfx.com/forex/fundamental/us_dollar_index/usd_trading_today/2021/05/18/us-dollar-outlook-dxy-index-hammered-as-treasury-yields-ebb.html $USD $DXY #Trading https://t.co/2zVfDWI5Y7
  • AUD/USD attempts to retrace the decline following the update to the US Consumer Price Index (CPI) as it bounces back from the 50-Day SMA (0.7715). Get your $AUDUSD market update from @DavidJSong here:https://t.co/EIQ7utBH9A https://t.co/RcWf6JgYX5
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 87.64%, while traders in EUR/USD are at opposite extremes with 70.33%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/EhQn4EqJYE
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Silver: 0.06% Gold: -0.03% Oil - US Crude: -1.48% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/ALjM4GEwOj
Euro May Bounce as Finance Ministers Activate Spain Bank Bailout

Euro May Bounce as Finance Ministers Activate Spain Bank Bailout

Ilya Spivak, Head Strategist, APAC

Talking Points

  • Eurozone FinMin Summit in Focus, Spain Bank Bailout to be Executed
  • Chinese Inflation Hits 29-Month Low, Boosting Case for PBOC Cuts
  • Japanese Current Account Surplus Shrinks, Machine Orders Plummet

All eyes are on the Eurozone finance ministers’ summit today. The sit-down is expected see officials begin implementation of June’s EU leaders’ summit framework. While little is likely to be achieved on longer-term issues like joint bank governance and expanded powers forthe EFSF/ESM bailout funds, the Spanish bank rescue is likely to figure prominently into the proceedings. Operational details of the effort are expected to be ratified at the sit-down and may produce a near-term bounce in the Euro as well as sentiment-linked currencies. France is also due to sell €7.8 billion in 91-, 168- and 350-day bills, with traders keeping an eye on average yield and bid-to-cover readings as a gauge of sovereign stress in the region.

Most major currencies consolidated in overnight trade, with the risk-geared Australian and New Zealand Dollars narrowly underperforming as Asian bourses fell in response to Friday’s disappointing US jobs report. China’s Consumer Price Index figures showed inflation slowed more than expected, printing at a 29-month low of 2.2 percent. The outcome hints policymakers in the world’s second-largest economy may have scope to ease monetary policy further after cutting rates last week. Japanese Machine Orders slumped 14.8 percent in May, marking the largest monthly in over a decade, while the Current Account surplus shrank to the smallest in six months.

Asia Session: What Happened

GMT

CCY

EVENT

ACT

EXP

PREV

23:01

GBP

Lloyds Employment Confidence (JUN)

-51

-

-59

23:50

JPY

Machine Orders (MoM) (MAY)

-14.8%

-2.6%

5.7%

23:50

JPY

Machine Orders (YoY) (MAY)

1.0%

7.0%

6.6%

23:50

JPY

Current Account Total (¥) (MAY)

215.1B

493.1B

333.8B

23:50

JPY

Adjusted Current Account Total (¥) (MAY)

282.2B

401.4B

288.6B

23:50

JPY

Trade Balance - BOP Basis (¥) (MAY)

-848.2B

-836.8B

-463.9B

23:50

JPY

Current Account Balance (YoY) (MAY)

-62.6%

-13.6%

-21.2%

23:50

JPY

Bank Lending Banks ex-Trust (JUN)

0.8%

-

0.4%

23:50

JPY

Bank Lending incl Trusts (YoY) (JUN)

0.7%

-

0.2% (R-)

1:30

CNY

Consumer Price Index (YoY) (JUN)

2.2%

2.3%

3.0%

1:30

CNY

Producer Price Index (YoY) (JUN)

-2.1%

-2.0%

-1.4%

1:30

AUD

ANZ Job Advertisements (MoM) (JUN)

-1.2%

-

-2.6% (R-)

4:30

JPY

Bankruptcies (YoY) (JUN)

-16.3%

-

7.2%

5:00

JPY

Eco Watchers Survey: Current (JUN)

43.8

47.5

47.2

5:00

JPY

Eco Watchers Survey: Outlook (JUN)

45.7

-

48.1

Euro Session: What to Expect

GMT

CCY

EVENT

EXP

PREV

IMPACT

5:45

CHF

Unemployment Rate (JUN)

2.9%

3.0%

Medium

5:45

CHF

Unemployment Rate s.a. (JUN)

3.2%

3.2%

Medium

6:00

EUR

German Current Account (€) (MAY)

10.2B

11.2B

Low

6:00

EUR

German Trade Balance (€) (MAY)

14.1B

14.4B

Medium

6:00

EUR

German Exports s.a. (MoM) (MAY)

0.2%

-1.7%

Low

6:00

EUR

German Imports s.a. (MoM) (MAY)

0.8%

-4.9%

Low

6:30

EUR

French Bank of France Bus. Sentiment (JUN)

92

93

Low

8:30

EUR

Euro-Zone Sentix Investor Confidence (JUL)

-26.6

-28.9

Low

13:00

EUR

France to Sell €7.8B in 91-, 168- and 350-day Bills

-

-

Medium

15:00

EUR

Euro-Zone Finance Ministers Meet in Brussels

-

-

High

Critical Levels

CCY

SUPPORT

RESISTANCE

EURUSD

1.2233

1.2375

GBPUSD

1.5454

1.5544

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

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya 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