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
EUR/USD
Bullish
Oil - US Crude
Bullish
Wall Street
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
Gold
Bullish
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
GBP/USD
Bullish
USD/JPY
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
More View more
Real Time News
  • Traders tend to overcomplicate things when they’re starting out in the forex market. This fact is unfortunate but undeniably true.Simplify your trading strategy with these four indicators here:https://t.co/A4dqGMPylo https://t.co/xqbUxwWgTZ
  • An economic calendar is a resource that allows traders to learn about important economic information scheduled to be released. Stay up to date on the most important global economic data here: https://t.co/JdvW6HNuqV https://t.co/Gi8LHCT5sB
  • The AB=CD pattern is simple once you know how to spot it and draw the proper Fibonacci retracements. Make your trading strategy as simple as ABCD here: https://t.co/AKmlmaAZBS https://t.co/FFmRYyx4ou
  • There is a great debate about which type of analysis is better for a trader. Is it better to be a fundamental trader or a technical trader? Find out here: https://t.co/aVAzFypAg1 https://t.co/r7aJb4qpqc
  • There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency is the fundamental factor that prevails above them all. Learn how interest rates impact currency markets here: https://t.co/ERyiY47G5H https://t.co/fIGDaDW21V
  • ...even more incredible is net speculative futures positioning in $EURUSD, rounding off from a record net long position...and it hasn't even cleared 1.20... https://t.co/SfyYTMTT1x
  • Net speculative futures positioning in the Dollar (here overlaid with the $DXY) has pushed to extreme levels commensurate to the levels in Oct 2017 and April 2018 https://t.co/JqHGgVUCqc
  • The $SPX closed below the 50-day moving average Friday. The first time it has done so in 103 trading days. The 'technical' end of an exceptional run: https://t.co/HUn5Q6JmlK
  • Despite recent weakness in the #SP500, the growth-linked New Zealand Dollar has been gaining momentum ahead of the #RBNZ next week Could this trend continue, or will $NZDUSD capitulate to the mercy of risk trends? Check out my fundamental outlook - https://www.dailyfx.com/forex/fundamental/forecast/weekly/nzd/2020/09/19/New-Zealand-Dollar-Outlook-NZDUSD-May-Rise-on-RBNZ-Watch-SP-500.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/34vcR4fjpT
  • RT @FxWestwater: #Copper rose to a fresh multi-year high as Chinese demand and supply-side issues continue to support price action amid a l…
British Pound, Euro May Rise on UK GDP and German IFO Data

British Pound, Euro May Rise on UK GDP and German IFO Data

2013-07-25 07:11:00
Ilya Spivak, Head Strategist, APAC
Share:

The British Pound and the Euro may rebound after yesterday’s losses as supportive UK GDP and German IFO data offer a boost to ECB and BOE policy expectations.

Talking Points

  • Pound, Euro May Rise as Economic Data Boosts Monetary Policy Outlook
  • Dollar to Decline on Fading Fed QE “Taper” Bets if US Data Disappoints

Second-quarter UK GDP figures headline the economic calendar in European trading hours. Expectations call for output to rise 0.6 percent, marking the best performance since the three months through September 2012. The pickup would be consistent with a marked improvement in UK economic data in the April – June period and may boost the British Pound as traders perceive normalization on the growth front as limiting scope for additional stimulus from the Bank of England.

Meanwhile, the German IFO survey of business confidence is expected to see the headline Business Climate gauge pushing higher to 106.1, the highest in four months. News-flow from the currency bloc has increasingly outperformed relative to consensus forecasts (according to data compiled by Citigroup), which seems to have been at least somewhat supportive for ECB policy expectations. Meanwhile, the Euro continues to track closely with the front-end yield spread, suggesting another strong print this time around may underpin the rates outlook as help the single currency renew its push higher.

Later in the day, the spotlight shifts back to the US docket. June’s Durable Goods Orders report and the weekly Jobless Claims roundup are focus, with moderate deterioration expected on both fronts. On the whole, US economic outcomes have returned somewhat lackluster results compared with consensus forecasts over recent weeks. This keeps the door open for disappointing news-flow that undercuts speculation about a near-term move to “taper” Federal Reserve stimulus efforts and rekindles downward pressure on the US Dollar.

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed

Asia Session:

GMT

CCY

EVENT

ACT

EXP

PREV

21:00

NZD

Reserve Bank of New Zealand Rate Decision

2.50%

2.50%

2.50%

23:50

JPY

Corporate Service Price (Y/Y) (JUN)

0.4%

0.6%

0.3%

Euro Session:

GMT

CCY

EVENT

EXP/ACT

PREV

IMPACT

8:00

EUR

German IFO - Business Climate (JUL)

106.1

105.9

Medium

8:00

EUR

German IFO - Current Assessment (JUL)

109.7

109.4

Medium

8:00

EUR

German IFO - Expectations (JUL)

102.5

102.5

Medium

8:00

EUR

Euro-Zone M3 s.a. (Y/Y) (JUN)

3.0%

2.9%

Low

8:00

EUR

Euro-Zone M3 s.a. (3M) (JUN)

3.0%

2.9%

Low

8:30

GBP

Gross Domestic Product (Q/Q) (2Q A)

0.6%

0.3%

High

8:30

GBP

Gross Domestic Product (Y/Y) (2Q A)

1.4%

0.3%

High

8:30

GBP

Index of Services (M/M) (MAY)

0.2%

0.2%

Low

8:30

GBP

Index of Services (3M/3M) (MAY)

0.7%

0.8%

Low

Critical Levels:

CCY

SUPPORT

RESISTANCE

EURUSD

1.3163

1.3260

GBPUSD

1.5281

1.5392

--- 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