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
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
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
Bearish
GBP/USD
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
USD/JPY
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
More View more
Real Time News
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.54% 🇦🇺AUD: 0.23% 🇬🇧GBP: 0.05% 🇨🇦CAD: 0.01% 🇯🇵JPY: 0.00% 🇪🇺EUR: -0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/FYEpgj5pmU
  • Heads Up:🇳🇱 Unemployment Rate (MAY) due at 04:30 GMT (15min) Previous: 3.4% https://www.dailyfx.com/economic-calendar#2021-06-17
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here: https://t.co/vg7w10la3j https://t.co/pFtPrUj8i0
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: France 40: -0.22% Germany 30: -0.27% Wall Street: -0.32% US 500: -0.37% FTSE 100: -0.44% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/uNvnkxmWQi
  • AUD/USD IG Client Sentiment: Our data shows traders are now at their most net-long AUD/USD since Jun 04 when AUD/USD traded near 0.77. A contrarian view of crowd sentiment points to AUD/USD weakness. https://www.dailyfx.com/sentiment https://t.co/XvwQCrigtw
  • The Fed charged the Dollar more than it rocked risk assets - at least initially. Was there enough in this policy leader's shift to reverse course on deflating volatility and turnover? Loaded question, but I like ranges like $EURUSD more just in case. https://www.dailyfx.com/forex/video/daily_news_report/2021/06/17/Dollar-and-Dow-Mark-Massive-Breaks-But-Are-There-Trends-Post-FOMC.html https://t.co/OvKBn6Qz1C
  • Japanese candlesticks are a popular charting technique used by many traders, and the shooting star candle is no exception. Learn about the shooting star candlestick and how to trade it here: https://t.co/mfwJ0sZLTs https://t.co/tLJc1BUnTu
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Gold: 0.63% Silver: 0.59% Oil - US Crude: -0.74% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/xfv1IST7Rv
  • RT @BrendanFaganFx: Australian Dollar Outlook: AUD/USD Looks to Rebound After Blowout Jobs Data $AUDUSD #FOMC #FederalReserve Link: https…
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.62% 🇦🇺AUD: 0.29% 🇨🇭CHF: 0.11% 🇬🇧GBP: 0.07% 🇯🇵JPY: 0.06% 🇨🇦CAD: 0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/96VNzFzCq3
Euro at Risk as Soft Inflation Data Sets the Stage for ECB Stimulus

Euro at Risk as Soft Inflation Data Sets the Stage for ECB Stimulus

Ilya Spivak, Head Strategist, APAC

Talking Points:

  • Euro May Face Added Selling Pressure on Soft Eurozone Inflation
  • US Factory Orders Data May Surprise Higher, Boosting US Dollar
  • Aussie Dollar Edges Upward on Chinese PMI as RBA Holds Rates

The preliminary set of May’s Eurozone CPI figures headlines the economic calendar in European trading hours. The headline year-on-year inflation rate is expected to register at 0.6 percent, down from 0.7 percent recorded in the prior month. News-flow from the currency bloc has proven increasingly disappointing relative to economists’ forecasts in recent months. Indeed, one such release was May’s German CPI print released yesterday. That seems to opening the door for downside surprise, an outcome that may amplify ECB stimulus speculation and weigh on the Euro. We remain short EURUSD.

Later in the day, the April’s US Factory Orders report. Forecasts point to a 0.5 percent increase, marking a slight slowdown from the 0.9 percent gain recorded in the prior month. US economic data has increasingly outperformed relative to expectations since early April however, hinting analysts are underestimating the recovery’s vigor and opening the door for an upside surprise. Such a result may help scatter any lingering doubts about the approaching end of Fed QE asset purchases and subsequent tightening. Needless to say, such a turn of events is likely to bode well for the US Dollar.

The Australian Dollar edged higher following a policy announcement from the Reserve Bank of Australia. Governor Glenn Stevens and company offered nothing to upset status-quo policy expectations, signaling once again that they believe a period of stability in the benchmark lending rate is warranted. With that in mind, the Aussie’s gains seem to have less to do with the rate decision’s substance and more a function of its conclusion. Having put the day’s critical event risk behind them, traders may have felt free to respond to an upbeat Chinese Non-manufacturing PMI print earlier published earlier in the day. The report showed the pace of service-sector activity growth hit a six-month high in May.

New to FX? START HERE!

Asia Session

GMT

CCY

EVENT

ACT

EXP

PREV

22:45

NZD

Terms of Trade Index (QoQ) (1Q)

1.8%

2.0%

2.5%

23:50

JPY

Monetary Base (YoY) (MAY)

45.6%

-

48.5%

23:50

JPY

Monetary Base (End of Period) (¥) (MAY)

226.6T

-

225.5T

1:00

CNY

Non-manufacturing PMI (MAY)

55.5

-

54.8

1:30

AUD

Current Account Balance (A$) (1Q)

5.7B

-7.0B

-11.7B

1:30

AUD

Net Exports of GDP (1Q)

1.40%

0.8

0.6

1:30

AUD

Retail Sales s.a. (MoM) (APR)

0.2%

0.3%

0.1%

1:30

JPY

Labor Cash Earnings (YoY) (APR)

0.9%

0.4%

0.7%

1:45

CNY

HSBC China Manufacturing PMI (MAY F)

49.4

49.7

49.7

4:30

AUD

Reserve Bank of Australia Rate Decision

2.50%

2.50%

2.50%

European Session

GMT

CCY

EVENT

EXP

PREV

IMPACT

6:00

GBP

Nationwide House Prices s.a. (MoM) (MAY)

0.6%

1.2%

Medium

6:00

GBP

Nationwide House Prices n.s.a. (YoY) (MAY)

10.9%

10.9%

Medium

8:00

EUR

Italian Unemployment Rate (APR P)

12.8%

12.7%

Low

8:00

EUR

Italian Unemployment Rate s.a. (1Q)

12.7%

12.6%

Low

8:30

GBP

Markit/CIPS UK Construction PMI (MAY)

61.0

60.8

Low

9:00

EUR

Eurozone Unemployment Rate (APR)

11.8%

11.8%

High

9:00

EUR

Eurozone CPI Estimate (YoY) (MAY)

0.6%

0.7%

High

9:00

EUR

Eurozone CPI - Core (YoY) (MAY A)

0.9%

1.0%

High

Critical Levels

CCY

Supp 3

Supp 2

Supp 1

Pivot Point

Res 1

Res 2

Res 3

EUR/USD

1.3498

1.3554

1.3575

1.3610

1.3631

1.3666

1.3722

GBP/USD

1.6655

1.6701

1.6724

1.6747

1.677

1.6793

1.6839

--- 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