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
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
More View more
Real Time News
  • 🇳🇿 Building Permits MoM (JUN) Actual: 3.8% Previous: -2.4% https://www.dailyfx.com/economic-calendar#2021-07-29
  • Heads Up:🇳🇿 Building Permits MoM (JUN) due at 22:45 GMT (15min) Previous: -2.8% https://www.dailyfx.com/economic-calendar#2021-07-29
  • Bitcoin Price to Boost Coinbase as Robinhood IPO Flops $BTCUSD has propelled higher this week. With crypto outlook sanguine again, $COIN has potential to outperform $HOOD following its weak trading debut. Link to Analysis - https://www.dailyfx.com/forex/market_alert/2021/07/29/bitcoin-price-to-boost-coinbase-coin-as-robinhood-ipo-hood-flops.html https://t.co/cR8w1neoT5
  • Robinhood given an enterprise value of $32 billion after shares priced at $38. Get your market update here:https://t.co/fybAmxrAdo https://t.co/XeUn7kAZ0Q
  • 🇰🇷 Business Confidence (JUL) Actual: 97 Previous: 98 https://www.dailyfx.com/economic-calendar#2021-07-29
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.87% 🇨🇦CAD: 0.63% 🇨🇭CHF: 0.43% 🇯🇵JPY: 0.39% 🇪🇺EUR: 0.37% 🇦🇺AUD: 0.27% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/vH1UWZP3Gt
  • Robinhood closes its first session as a publicly listed company down just over 8% $HOOD https://t.co/4GOkrVfs1B
  • Heads Up:🇰🇷 Business Confidence (JUL) due at 21:00 GMT (15min) Previous: 98 https://www.dailyfx.com/economic-calendar#2021-07-29
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 2.33% Gold: 1.17% Oil - US Crude: -0.33% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/gkJwZQnj4N
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.22%, while traders in Wall Street are at opposite extremes with 75.65%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/NPtVj3FLsQ
Euro Looks Beyond German Jobs Data to Italian Bond Sale Outcome

Euro Looks Beyond German Jobs Data to Italian Bond Sale Outcome

Ilya Spivak, Head Strategist, APAC

Talking Points

  • Euro to Look Past German Jobs Data to Italian Bond Sale Amid Crisis Jitters
  • US Spending/Income Data, Kansas City Fed Gauge Set the Stage for Bernanke
  • Aussie Falls with Asian Stocks, NZ Dollar Gains on Rising Business Confidence

German Unemployment figures headline the economic calendar in European hours. Expectations call for the economy to shed 7,000 jobs in August, matching the prior month’s result. The result is unlikely to stir a significant response from price action given its limited implications for ECB monetary policy, where the focus remains on the central bank’s new bond-buying program and the possibility that it might be (at least partially) unveiled at next week’s meeting. With that in mind, traders will keep a close eye on average yield levels as Italy sells €7.5 billion in 5- and 10-year bonds, with a rise in borrowing costs pointing to swelling funding stress that may put downward pressure on the Euro.

Later in the session, the spotlight turns to the US data docket, where July’s Personal Spending and Income figures as well as Augusts’ Kansas City Fed Manufacturing Activity gauge are on tap. Income is expected to rise 0.3 percent, in line with its 12-month average, but Spending is seen yielding the largest increase in five months at 0.5 percent. Meanwhile, the Kansas City Fed print is forecast to edge narrowly lower. Traders will evaluate the data in terms of setting the stage for Jackson Hole, with a net positive tone underscoring the recent improvement in US economic data anddenting stimulus bets. Such an outcome stands to put downward pressure on risk-geared currencies while boosting the US Dollar (ticker: USDollar). Needless to say, a softer data set is likely to produce the opposite result.

The greenback was little changed against most of its top counterparts overnight as currency markets remained in a holding pattern ahead of Friday’s highly-anticipated speech from Fed Chairman Ben Bernanke at the Jackson Hole Symposium. The Australian Dollar traded broadly lower, sliding as much as 0.4 percent on average against the majors, as a slump across Asian stock exchanges weighed on the sentiment-linked currency. The MSCI Asia Pacific regional benchmark equity index fell 1 percent in the wake of broadly disappointing economic data, with the day’s releases from Japan and Australia printing sharply below expectations. The New Zealand Dollar narrowly outperformed as the NBNZ Business Confidence gauge rose to a three-month high in August.

Asia Session: What Happened

GMT

CCY

EVENT

ACT

EXP

PREV

22:45

NZD

Building Permits (MoM) (JUL)

2.0%

3.0%

5.9% (R+)

23:50

JPY

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

-1.5%

-0.5%

-1.2%

23:50

JPY

Retail Trade (YoY) (JUL)

-0.8%

-0.1%

0.2%

23:50

JPY

Large Retailers' Sales

-4.4%

-3.2%

-2.6%

23:50

JPY

Loans & Discounts Corp (YoY)

-0.34%

-

0.12%

1:00

NZD

NBNZ Activity Outlook (AUG)

26.4

-

24.0

1:00

NZD

NBNZ Business Confidence (AUG)

19.5

-

15.1

1:30

AUD

Private Capital Expenditure (2Q)

3.4%

3.0%

7.7% (R+)

1:30

AUD

Building Approvals (MoM) (JUL)

-17.0%

-5.0%

-1.0% (R+)

1:30

AUD

Building Approvals (YoY) (JUL)

-10.6%

6.0%

13.0% (R+)

Euro Session: What to Expect

GMT

CCY

EVENT

EXP

PREV

IMPACT

7:55

EUR

German Unemployment Change (AUG)

7K

7K

High

7:55

EUR

German Unemployment Rate s.a. (AUG)

6.8%

6.8%

Medium

8:00

EUR

Italian Hourly Wages (YoY) (JUL)

-

1.5%

Low

8:00

EUR

Italian Hourly Wages (MoM) (JUL)

-

0.2%

Low

8:30

GBP

Net Consumer Credit (JUL)

0.5B

0.6B

Low

8:30

GBP

Net Lending Sec. on Dwellings (JUL)

0.5B

-0.4B

Low

8:30

GBP

Mortgage Approvals (JUL)

47.0K

44.2K

Medium

8:30

GBP

M4 Money Supply (MoM) (JUL)

-

-1.6%

Low

8:30

GBP

M4 Money Supply (YoY) (JUL)

-

-5.2%

Low

8:30

GBP

M4 Ex IOFCs 3M Annualised (JUL)

3.0%

2.9%

Low

9:00

EUR

Euro-Zone Business Climate Indicator (AUG)

-1.3

-1.27

Low

9:00

EUR

Euro-Zone Consumer Confidence (AUG F)

-24.6

-24.6

Medium

9:00

EUR

Euro-Zone Economic Confidence (AUG)

87.5

87.9

Low

9:00

EUR

Euro-Zone Industrial Confidence (AUG)

-15.5

-15

Low

9:00

EUR

Euro-Zone Services Confidence (AUG)

-9

-8.5

Low

9:00

EUR

Italian Business Confidence (AUG)

86.8

87.1

Low

9:00

EUR

Italy to Sell €7.5B in 5- and 10-year Bonds

-

-

Medium

9:00

EUR

EC President Barroso speaks in Vienna

-

-

Medium

18:00

EUR

ECB’s Asmussen speaks in Potsdam

-

-

Low

Critical Levels

CCY

SUPPORT

RESISTANCE

EURUSD

1.2508

1.2596

GBPUSD

1.5806

1.5858

--- 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