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.

Free Trading Guides
EUR/USD
Bullish
Oil - US Crude
Mixed
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
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • The US Dollar is attempting to find direction against the Singapore Dollar, Philippine Peso and Indonesian Rupiah as technical levels hold. The Malaysian Ringgit eyes a key trend line. Get your market update from @ddubrovskyFX here:https://t.co/lcSLkOnJgQ https://t.co/vryqn4rRU4
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Gold: 0.01% Oil - US Crude: -0.03% Silver: -0.55% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/15QcnuOwHa
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.01% 🇬🇧GBP: -0.02% 🇯🇵JPY: -0.05% 🇪🇺EUR: -0.13% 🇳🇿NZD: -0.22% 🇦🇺AUD: -0.23% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/vPJr6TpvF6
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.90%, while traders in US 500 are at opposite extremes with 78.20%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/xNfVZWeHaL
  • The $USD is falling against #ASEAN currencies such as the Singapore Dollar and Indonesian Rupiah as stock markets rise. Watch out for US-China escalation and Brexit talks. Get your market update from @ddubrovskyFX here:https://t.co/PziC8KZaIC https://t.co/IhJHu2WCVZ
  • For those who argue a bullish case for stocks... Let me counter with a single chart of the gold to S&P 500 ratio. Looks to me like risk-reward favors bullion over equities. $XAU $GLD https://t.co/6qiSh8E0ht https://t.co/lKViSEnrMc
  • - Silver prices could pull back as negative RSI divergence shows slowing momentum - Copper prices have risen over 20 percent, are now trading above 17-year uptrend - Monthly perspective show the base metal has entered into a key compression zone https://www.dailyfx.com/forex/market_alert/2020/06/02/Silver--Copper-Prices-Enjoyed-a-Nice-Ride---Is-it-Time-to-Get-Off.html
  • What is it about a colorful Bloomberg Terminal that is so satisfying to look at? https://t.co/Qtv9wwQv75
  • I have finally found a way to express the social climate in San Francisco and the effects of peer pressure: https://t.co/yYFXFHG2Lb
  • The US Dollar, Euro, British Pound and Australian Dollar will all be at the mercy of political developments in Asia, Europe and North America this week. An avalanche of PMI data will set the backdrop.Get your market update from @ZabelinDimitri here:https://t.co/L8cfAgVx94 https://t.co/vwChirq7SL
Franc Gains as ECB Shuns Greek Bonds, Pound to Look Past Static BOE

Franc Gains as ECB Shuns Greek Bonds, Pound to Look Past Static BOE

2015-02-05 05:57:00
Ilya Spivak, Head Strategist, APAC
Share:

Talking Points:

  • Franc Gains as ECB Says Greek Bonds Unacceptable as Collateral
  • Australian, New Zealand Dollars Rise After China’s 50bps RRR Cut
  • Bank of England Rate Decision Likely a Non-Event for the Pound

The Swiss Franc outperformed in overnight trade, rising as much as 0.3 percent on average against its top counterparts. The move appears to have reflected regional safe-haven flows after the ECB announced that it will no longer accept Greek government bonds as collateral for lending.

That sent jitters across financial markets amid worries of oncoming capital shortages and potential bank failures in the event Greek lenders run short on liquidity. Reports suggesting the central bank will make the ELA emergency facility available dampened concerns to some extent however.

The Australian and New Zealand Dollars likewise pushed higher, adding as much as 0.5 and 0.3 percent respectively against the majors. The move appeared to reflect optimism linked to the PBOC, which unexpectedly announced a 50 basis point cut in its reserve requirement ratio.

China is Australia and New Zealand’s largest trading partner and markets likely speculated that an easing of monetary policy that boosts growth there may bode well for the two Oceanic countries’ export demand profiles. That may in turn translate into better overall growth prospects and limit scope for on-coming RBA and RBNZ interest rate reductions.

A monetary policy announcement from the Bank of England headlines the economic calendar in European trading hours. Mark Carney and company are widely expected to keep the status quo in place, meaning no statement is likely to be issued. That will probably mean the announcement will amount to a non-event for the British Pound, with the currency waiting for next week’s quarterly Inflation Report for policy cues.

New to FX? START HERE!

Asia Session

GMT

CCY

EVENT

ACT

EXP

PREV

0:00

AUD

HIA New Home Sales (MoM) (DEC)

-1.9%

-

2.2%

0:30

AUD

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

0.2%

0.3%

0.1%

0:30

AUD

Retail Sales Ex Inflation (QoQ) (4Q)

1.5%

1.1%

0.9%

European Session

GMT

CCY

EVENT

EXP

PREV

IMPACT

6:45

CHF

SECO Consumer Confidence (JAN)

-13

-11

Low

7:00

EUR

German Factory Orders s.a. (MoM) (DEC)

1.5%

-2.4%

Medium

7:00

EUR

German Factory Orders n.s.a. (YoY) (DEC)

0.7%

-0.4%

Medium

8:30

EUR

Markit Germany Construction PMI (JAN)

-

50.5

Low

9:00

GBP

New Car Registrations (YoY) (JAN)

-

8.7%

Low

9:00

EUR

ECB Publishes Economic Bulletin

-

-

Low

9:10

EUR

Markit Germany Retail PMI (JAN)

-

51.7

Low

9:10

EUR

Markit Italy Retail PMI (JAN)

-

42.8

Low

9:10

EUR

Markit Eurozone Retail PMI (JAN)

-

47.6

Low

9:10

EUR

Markit France Retail PMI (JAN)

-

46.5

Low

12:00

GBP

Bank of England Rate Decision

0.50%

0.50%

High

12:00

GBP

BOE Asset Purchase Target (£)

375B

375B

High

Critical Levels

CCY

Supp 3

Supp 2

Supp 1

Pivot Point

Res 1

Res 2

Res 3

EURUSD

1.1044

1.1213

1.1279

1.1382

1.1448

1.1551

1.1720

GBPUSD

1.4967

1.5079

1.5130

1.5191

1.5242

1.5303

1.5415

--- 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.