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
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
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
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
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • What are some factors impacting Euro’s forecast this quarter? Get your free forecast here: https://t.co/kpBYVz31Bd #DailyFXGuides https://t.co/fT0Uib4sr4
  • The US Dollar recovery has stalled at resistance and the immediate focus is on this pullback as the index approaches near-term uptrend support. Get your $USD technical analysis from @MBForex here:https://t.co/lg6pFomGNb https://t.co/tThOOyx8qY
  • #Bitcoin rebounding sharply, now up 8.8% today $BTC $USD https://t.co/UVAQTXGoec
  • Commodities Update: As of 19:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.04% Gold: -0.69% Silver: -1.67% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/FXJUOOmjE5
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in Wall Street are at opposite extremes with 66.20%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/FcTW4GHbzZ
  • US 10yr Treasury yields have slipped back below 1.10 today, but remain notably higher compared to earlier in the pandemic $USD $IEF https://t.co/PYLCZGwPHt
  • Indices Update: As of 19:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.31% France 40: 0.30% Germany 30: 0.23% US 500: -0.25% Wall Street: -0.40% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/079WIJ3r9O
  • $EURJPY had been heading higher today, crossing above 126.20 and hitting its highest levels since last week. $EUR $JPY https://t.co/bKsWiKxRmz
  • USD/CAD trending lower has been a theme since it peaked in dramatic fashion back in March, but the downtrend may be put to the test soon as a falling wedge pattern comes to light. Get your $USDCAD market update from @PaulRobinsonFX here:https://t.co/qjobL4Uyq9 https://t.co/wgd9nZSGpj
  • US Indices remain in the red but have pared some losses as session advances into the afternoon. DOW -0.38% NDX -0.13% SPX -0.24% RUT -0.03% $DOW $QQQ $SPY $IWM
Forex: Euro May Fall on Soft CPI Data, US Dollar Eyeing Yellen Speech

Forex: Euro May Fall on Soft CPI Data, US Dollar Eyeing Yellen Speech

Ilya Spivak, Head Strategist, APAC

Talking Points:

  • Euro May Fall on ECB Easing Bets as CPI Drops to Lowest in 4 Years
  • US Dollar May Rise if Yellen Commentary Maintains Hawkish Overtones
  • Aussie Dollar Underperformed in Asia, Profit-Taking a Possible Driver

March’s preliminary Eurozone CPI report headlines the economic calendar in European hours. Expectations call for the headline year-on-year inflation rate to decline to 0.6 percent, the lowest since November 2009.

Leading cues from March PMI data seemingly bolster the probability of a soft outcome. Weak price growth readings may fuel concerns about continued disinflation and drive speculation about a near-term expansion of ECB stimulus efforts ahead of this week’s ECB policy announcement, weighing on the Euro.

Later in the day, the spotlight will shift to scheduled remarks from Federal Reserve Chair Janet Yellen. She is set to speak at the National Interagency Community Reinvestment Conference. While it is unclear that Yellen’s speech will contain content pertinent to investors’ outlook for Fed monetary policy, the possibility that this is the case exists.

With that in mind, traders will listen carefully to glean the tone of the central bank chief’s rhetoric for confirmation of the relatively hawkish tilt noted following the March FOMC meeting. Needless to say, the presence of such cues is likely to bode well for the US Dollar.

The Australian Dollar underperformed in otherwise quiet overnight trade, sliding as much as 0.2 percent on average against its leading counterparts. A discrete trigger for the move was not readily apparent, hinting weakness may have reflected profit-taking after the Aussie outpaced its G10 FX counterparts to add 1.8 percent against the greenback last week.

New to FX? START HERE!

Asia Session

GMT

CCY

EVENT

ACT

EXP

PREV

21:45

NZD

Building Permits (MoM) (FEB)

-1.7%

2.0%

-8.6%

23:01

GBP

Hometrack Housing Survey (MoM) (MAR)

0.6%

-

0.7%

23:01

GBP

Hometrack Housing Survey (YoY) (MAR)

5.7%

-

5.4%

23:15

JPY

Markit/JMMA Manufacturing PMI (MAR)

53.9

-

55.5

23:30

AUD

TD Securities Inflation (MOM) (MAR)

0.2%

-

0.2%

23:30

AUD

TD Securities Inflation (YoY) (MAR)

2.7%

-

2.7%

23:50

JPY

Industrial Production (MoM) (FEB P)

-2.3%

0.3%

3.8%

23:50

JPY

Industrial Production (YoY) (FEB P)

6.9%

9.9%

10.3%

0:00

AUD

HIA New Home Sales (MoM) (FEB)

4.6%

-

0.5%

0:00

NZD

ANZ Activity Outlook (MAR)

58.2

-

58.5

0:00

NZD

NBNZ Business Confidence (MAR)

67.3

-

70.8

0:30

AUD

Private Sector Credit (MoM) (FEB)

0.4%

0.4%

0.4%

0:30

AUD

Private Sector Credit (YoY) (FEB)

4.3%

4.3%

4.1%

2:00

NZD

Money Supply M3 (YoY) (FEB)

6.9%

-

7.0%

4:00

JPY

Vehicle Production (YoY) (FEB)

-

-

14.5%

5:00

JPY

Housing Starts (YoY) (FEB)

-

6.1%

12.3%

5:00

JPY

Annualized Housing Starts (FEB)

-

0.968M

0.987M

5:00

JPY

Construction Orders (YoY) (FEB)

-

-

15.2%

European Session

GMT

CCY

EVENT

EXP

PREV

IMPACT

6:00

EUR

German Retail Sales (MoM) (FEB)

-0.5%

1.7%

Low

6:00

EUR

German Retail Sales (YoY) (FEB)

0.8%

0.9%

Low

6:45

EUR

French GDP (YoY) (4Q F)

0.8%

0.8%

Medium

6:45

EUR

French GDP (QoQ) (4Q F)

0.3%

0.3%

Medium

7:00

CHF

KOF Swiss Leading Indicator (MAR)

2.05

2.03

Low

8:30

GBP

Mortgage Approvals (FEB)

75.0K

76.9K

Medium

8:30

GBP

M4 Money Supply (MoM) (FEB)

-

0.3%

Low

8:30

GBP

M4 Money Supply (YoY) (FEB)

-

-0.3%

Low

8:30

GBP

M4 Ex IOFCs 3M Annualised (FEB)

-

1.6%

Low

8:30

GBP

Net Consumer Credit (FEB)

0.7B

0.7B

Low

8:30

GBP

Net Lending Sec. on Dwellings (FEB)

1.4B

1.4B

Low

9:00

EUR

Euro-Zone CPI Estimate (YoY) (MAR)

0.6%

0.8%

High

9:00

EUR

Euro-Zone CPI - Core (YoY) (MAR A)

0.8%

1.0%

High

Critical Levels

CCY

Supp 3

Supp 2

Supp 1

Pivot Point

Res 1

Res 2

Res 3

EUR/USD

1.3607

1.3675

1.3713

1.3743

1.3781

1.3811

1.3879

GBP/USD

1.6523

1.6576

1.6607

1.6629

1.6660

1.6682

1.6735

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

To receive Ilya's analysis directly via email, please SIGN UP HERE

Contact and follow Ilya on Twitter: @IlyaSpivak

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

DISCLOSURES