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
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
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
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • The Spinning Top candlestick pattern forms part of the vast Japanese candlestick repertoire with its own distinct features. Gain a better understanding of the spinning top candlestick here: https://t.co/yXomAftdv8 https://t.co/wOQAHZVnxB
  • Forex trading, which is the act of exchanging fiat currencies, is thought to be centuries old – dating back to the Babylonian period. Learn about the history of Forex here:https://t.co/ePTJlbUP7c https://t.co/WS2LkCt9gX
  • Two major events will dominate #Euro trading in the coming week: an #ECB meeting on Eurozone monetary policy, followed by an #EU summit to reach agreement on a recovery fund. Get your #currencies update from @MartinSEssex here: https://t.co/wnXjTDizMv https://t.co/tmxDfkgmSv
  • There are many different types of forex orders, which traders use to manage their trades. While these may vary between different brokers, there tends to be several basic FX order types all brokers accept. Learn about different FX order types here: https://t.co/lIJdiz4xSz https://t.co/UQRaKusFP7
  • 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/nUvvI3WQpx
  • Australian Dollar is up fractionally this week with Aussie stalling just below the yearly range highs. Here are the levels that matter on the $AUDUSD technical chart. Get your #currencies update from @MBForex here: https://t.co/jYzBK1qH4s https://t.co/gYj4tFbsGS
  • What is the road ahead for equities this coming week? Check out my fundamental outlook below! #DowJones #SP500 #DAX30 #FTSE100 https://www.dailyfx.com/forex/fundamental/forecast/weekly/title/2020/07/11/Dow-Jones-SP-500-DAX-30-FTSE-100-Outlook-Stocks-Week-Ahead.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/HjIBDKqwvO
  • #Gold price gains seem to depend on monetary stimulus expansion and may turn lower as contraction of the Federal Reserve’s balance sheet underpins the US Dollar. Get your #metals update from @DanielGMoss here: https://t.co/8NHLc8jdhw https://t.co/0YYKXqtY9V
  • 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/OjTZOQEytM https://t.co/DDCWX1In7k
  • The US Dollar is pressured as rising coronavirus cases fail to dent 2021 GDP bets. Could the Singapore Dollar, Indonesian Rupiah, Philippine Peso and Malaysian Ringgit rise? Find out from @ddubrovskyFX here:https://t.co/u1qhaIGGoC https://t.co/kvFgxQjLb0
Euro Shrugs Off Widely Expected Greek Election Outcome

Euro Shrugs Off Widely Expected Greek Election Outcome

2015-01-26 07:41:00
Ilya Spivak, Head Strategist, APAC
Share:

Talking Points:

  • Euro Shrugs Off Initial Selling Pressure Following Greece Election Outcome
  • German IFO to Pass with Little Fanfare on Limited ECB Policy Implications
  • See Economic Releases Directly on Your Charts with the DailyFX News App

Aftershocks following the weekend’s Greek election defined price action in overnight trade. The outing produced a strong victory for the anti-austerity Syriza party, as amply telegraphed in polls ahead of the vote. While the victorious Alexis Tsipras and company appear to have fallen just shy of an outright majority in parliament, a preliminary coalition deal with the likewise euroskeptic ANEL party seems to be taking shape already.

The announcement initially sank the Euro and weighed heavily on risk appetite, driving haven demand for the Japanese Yen and weighing on higher-yielding FX including the Australian and New Zealand Dollars. The British Pound likewise emerged as a winner, seemingly finding support in capital flows seeking a regional alternative to Eurozone financial markets.

The move has at least partially fizzled ahead of the opening bell in Europe however: while the Aussie and the Kiwi remain under pressure as S&P 500 futures point to lingering risk aversion cues, the Euro and Yen have all but erased moves recorded in early Asia. The Pound remains well-supported.

The reversal may reflect the extent to which the Syriza victory was well-telegraphed months ago and widely expected as well as the fading supply of negative news-flow threatening the common unit. Indeed, with the ECB’s QE program already announced and the Greek election in the rearview mirror, the markets may have seen the extent of anti-EUR developments for the time being.

January’s German IFO survey of business confidence headlines the economic calendar in European hours. The headline Business Climate index is expected to rise for a third consecutive month, hitting the strongest level since July at 106.5. The outcome seems unlikely to yield much of a reaction from the single currency however considering its limited implications for near-term monetary policy after last week’s high-profile stimulus expansion.

New to FX? START HERE!

Asia Session

GMT

CCY

EVENT

ACT

EXP

PREV

21:30

NZD

Performance Services Index (DEC)

56.5

-

54.7

23:50

JPY

Trade Balance Total (¥) (DEC)

-660.7B

-735.2B

-893.5B

23:50

JPY

Adjusted Trade Balance (¥) (DEC)

-712.1B

-743.1B

-832.5B

23:50

JPY

Exports (YoY) (DEC)

12.9%

11.2%

4.9%

23:50

JPY

Imports (YoY) (DEC)

1.9%

2.0%

-1.6%

23:50

JPY

Bank of Japan December Meeting Minutes

-

-

-

2:00

NZD

Credit Card Spending (MoM) (DEC)

-0.6%

-

0.4%

2:00

NZD

Credit Card Spending (YoY) (DEC)

4.5%

-

5.1%

European Session

GMT

CCY

EVENT

EXP

PREV

IMPACT

9:00

EUR

German IFO - Business Climate (JAN)

106.5

105.5

Medium

9:00

EUR

German IFO - Current Assessment (JAN)

110.8

109.8

Medium

9:00

EUR

German IFO - Expectations (JAN)

102.5

101.4

Medium

9:30

GBP

BBA Loans for House Purchase (DEC)

36500

36717

Low

Critical Levels

CCY

Supp 3

Supp 2

Supp 1

Pivot Point

Res 1

Res 2

Res 3

EURUSD

1.0713

1.0972

1.1088

1.1231

1.1347

1.1490

1.1749

GBPUSD

1.4824

1.4908

1.4949

1.4992

1.5033

1.5076

1.5160

--- 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

News & Analysis at your fingertips.