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
Wall Street
Mixed
Gold
Bullish
GBP/USD
Bearish
USD/JPY
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
  • AUD/USD sharply higher following last week's decline $AUDUSD https://t.co/cxrl9O6Jvi
  • The US Dollar has put in a very strong push since the Thursday lows – and for traders looking to fade that move, the long side of GBP/USD may be attractive. Get your $GBP market update from @JStanleyFX here:https://t.co/17J9kCb8ff https://t.co/N1zNhEWLHh
  • Commodities Update: As of 19:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.21% Gold: -0.71% Silver: -0.76% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/0ayjP8t3rP
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 91.57%, while traders in GBP/JPY are at opposite extremes with 66.37%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/7IShY2t1tw
  • Biden administration to use 'all available tools' to challenge unfair China trade practices, still conducting comprehensive review of trade policy with China - BBG $USDCNH
  • Indices Update: As of 19:00, these are your best and worst performers based on the London trading schedule: US 500: 2.42% Wall Street: 2.17% FTSE 100: 0.26% Germany 30: 0.12% France 40: 0.10% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/9PszirwcDh
  • $USDJPY is hitting fresh multi-month highs today as the pair continues to trade above the 106.50 level. The last time this pair traded at that level was in early August. $USD $JPY https://t.co/VP9GskwYOJ
  • $WTI Crude Oil is down over 4% off of today's highs, falling from an intraday high above 62.50 to currently trade right around 60.00, its lowest level since early last week. $USO $OIL https://t.co/XrE768A6sK
  • https://t.co/SBKsuxOE0j
  • 🇧🇷 Balance of Trade (FEB) Actual: $1.2B Expected: $0.9B Previous: $-1.125B https://www.dailyfx.com/economic-calendar#2021-03-01
Forex Analysis: Euro at Risk on German Jobs Data, Yen Higher on BOJ

Forex Analysis: Euro at Risk on German Jobs Data, Yen Higher on BOJ

Ilya Spivak, Head Strategist, APAC

The Euro may fall as another rise in German unemployment stokes ECB rate cut expectations. The Yen rose as the BOJ proved modest in expanding stimulus.

Talking Points

  • Euro May Fall as German Unemployment Gain Boosts ECB Rate Cut Bets
  • Japanese Yen Higher in Asia as BOJ Stimulus Boost Meets Expectations

German Unemployment figures headline the economic calendar in European hours. Expectations call for the economy to shed 10,000 jobs in October, pushing the unemployment rate higher to 6.9 percent. Job losses have been steadily mounting in the Eurozone’s largest economy, with the ranks of the unemployed rising for six consecutive months for a cumulative 54,000 increase over the second and third quarters. Another push the same direction may reinforce signs of deepening weakness seen in last week’s dismal PMI readings, stoking ECB rate cut expectations and weighing on the Euro.

The Japanese Yen outperformed in overnight trade after the Bank of Japan announced an expansion of stimulus measures that fell on the low end of forex traders’ expectations. Policymakers expanded asset purchases by ¥11 trillion. Reports circling the wires before the announcement called for as much as a ¥20 trillion expansion. The currency’s gains may prove fleeting however considering the BOJ also forecast that inflation would come in below its 1 percent target through the 2014 fiscal year, meaning additional efforts to loosen monetary policy are likely on the horizon.

Asia Session: What Happened

GMT

CCY

EVENT

ACT

EXP

PREV

23:30

JPY

Jobless Rate (SEP)

4.2%

4.2%

4.2%

23:30

JPY

Job-To-Applicant Ratio (SEP)

0.81

0.83

0.83

23:30

JPY

Household Spending (YoY) (SEP)

-0.9%

0.80%

1.8%

23:50

JPY

Industrial Production (YoY) (SEP P)

-8.1%

-7.1%

-4.6%

23:50

JPY

Industrial Production (MoM) (SEP P)

-4.1%

-3.1%

-1.6%

0:00

AUD

HIA New Home Sales (MoM) (SEP)

-3.7%

-

-5.3%

4:00

JPY

Vehicle Production (YoY) (SEP)

-12.4%

-

4.5%

5:49

JPY

Bank of Japan Rate Decision

0.10%

0.10%

0.10%

Euro Session: What to Expect

GMT

CCY

EVENT

EXP/ACT

PREV

IMPACT

7:00

CHF

UBS Consumption Indicator (SEP)

1.07 (A)

1.02

Low

8:00

EUR

Spain GDP (QoQ)

-0.4%

-0.4%

Medium

8:00

EUR

Spain GDP (YoY)

-1.7%

-1.3%

Medium

8:00

EUR

ECB President Draghi Speaks in Frankfurt

-

-

Medium

8:55

EUR

German Unemployment Rate (OCT)

6.9%

6.8%

High

8:55

EUR

German Unemployment Change (OCT)

10K

9K

High

10:00

EUR

Euro-Zone Business Climate Indicator (OCT)

-1.42

-1.34

Low

10:00

EUR

Euro-Zone Consumer Confidence (OCT F)

-25.6

-25.6

Medium

10:00

EUR

Euro-Zone Services Confidence (OCT)

-13

-12

Low

10:00

EUR

Euro-Zone Economic Confidence (OCT)

84.5

85

Low

10:00

EUR

Euro-Zone Industrial Confidence (OCT)

-17

-16.1

Low

10:00

EUR

Italy to Sell €7B in 5- and 10-year Bonds

-

-

Medium

11:00

GBP

CBI Reported Sales (OCT)

8

6

Low

Critical Levels

CCY

SUPPORT

RESISTANCE

EURUSD

1.2869

1.3005

GBPUSD

1.5985

1.6103

--- 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, please CLICK HERE

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES