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
Bearish
Oil - US Crude
Mixed
Wall Street
Bearish
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/UalZ8cRSXB https://t.co/3Wp3IOFbCl
  • Join @MartinSEssex 's #webinar at 6:30 AM ET/10:30 AM GMT to learn more about trading #sentiment Register here: https://t.co/XUUPRdY06p https://t.co/xPg6iYu5XF
  • USD/JPY IG Client Sentiment: Our data shows traders are now at their most net-long USD/JPY since Mar 08 when USD/JPY traded near 103.93. A contrarian view of crowd sentiment points to USD/JPY weakness. https://www.dailyfx.com/sentiment https://t.co/svVkPPHfph
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here: https://t.co/5uSWKoLkd6 https://t.co/ZcSPE0xkvX
  • Join @PaulRobinsonFX 's #webinar at 5:30 AM ET/9:30 AM GMT for insight on London #FX and #CFD trading. Register here: https://t.co/AoM3UvLtcF https://t.co/zKfTmM2Lvn
  • Germany's IFO forecasts - Upgrades 2020 GDP outlook to -5.2% from -6.7% - Downgrades 2021 GDP outlook to 5.1% from 6.4%
  • BoE's Bailey says while negative rates is in the toolbox, this does not imply the BoE would use negative rates $GBP
  • BoE's Bailey says negative rates have been a mixed bag in other countries $GBP
  • BoE's Bailey says the BoE have looked very hard at scope to lower rates further, including negative interest rates $GBP
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.45%, while traders in NZD/USD are at opposite extremes with 69.03%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/xwIu29Mfxl
Euro at Risk as Greece Jitters Return, US Dollar May Rise on Fed-Speak

Euro at Risk as Greece Jitters Return, US Dollar May Rise on Fed-Speak

2015-03-09 09:49:00
Ilya Spivak, Head Strategist, APAC
Share:

Talking Points:

  • Euro Vulnerable to Deeper Losses as “Grexit” Worries Emerge Once Again
  • US Dollar May Rise if Hawkish Fed-Speak Boosts Interest Rate Hike Outlook
  • See Economic Releases Directly on Your Charts with the DailyFX News App

The US Dollar underperformed to start the trading week, falling as much as 0.3 percent on average against its leading counterparts. The move appeared corrective after the benchmark unit soared to the highest level in 11 years last week in the aftermath of February’s payrolls data. The Euro led the way higher against the greenback having been the hardest-hit on Friday.

The single currency may swiftly come under renewed selling pressure however as Greece returns to the spotlight. Eurozone finance ministers are due to meet in Brussels to discuss the beleaguered country’s funding after a list of reforms proposed by Athens in exchange for bailout cash was rejected. Signs of renewed deadlock following the sit-down may reboot “Grexit” fears, rekindling Euro selling pressure.

“Fed-speak” comes into focus later in the day, with the President of the US central bank’s Cleveland branch Loretta Mester due to discuss the outlook for the economy and monetary policy. While not currently on the FOMC, Mester was a voter in 2014 and so seems likely to be well-versed in the latest thinking on the rate-settingcommittee. She is also firmly on the hawkish side of the spectrum, meaning her comments may reboot the USD advance if they portend a sooner start to stimulus withdrawal.

New to FX? START HERE!

Asia Session

GMT

CCY

EVENT

ACT

EXP

PREV

2:51

CNY

Trade Balance (FEB)

$60.62B

$6.00B

$60.03B

2:51

CNY

Imports (YoY) (FEB)

-20.5%

-10.0%

-19.7%

2:51

CNY

Exports (YoY) (FEB)

48.3%

14.0%

-3.2%

21:45

NZD

Manufacturing Activity (QoQ) (4Q)

-0.7%

-

-1.1%

21:45

NZD

Manufacturing Activity Volume (QoQ) (4Q)

0.9%

-

0.5%

23:50

JPY

GDP (QoQ) (4Q F)

0.4%

0.5%

0.6%

23:50

JPY

GDP Annualized (QoQ) (4Q F)

1.5%

2.2%

2.2%

23:50

JPY

Nominal GDP (QoQ) (4Q F)

1.0%

1.1%

1.1%

23:50

JPY

GDP Deflator (YoY) (4Q F)

2.4%

2.3%

2.3%

23:50

JPY

GDP Private Consumption (QoQ) (4Q F)

0.5%

0.3%

0.3%

23:50

JPY

GDP Business Spending (QoQ) (4Q F)

-0.1%

0.2%

0.1%

23:50

JPY

Current Account Total (¥) (JAN)

61.4B

270.4B

187.2B

23:50

JPY

Adjusted Current Account Total (¥) (JAN)

1058.1B

117.6B

852.8B

23:50

JPY

Trade Balance - BOP Basis (¥) (JAN)

-864.2B

-936.0B

-395.6B

23:50

JPY

Bank Lending incl Trusts (YoY) (FEB)

2.5%

-

2.5%

23:50

JPY

Bank Lending Banks ex-Trust (FEB)

2.6%

2.6%

2.6%

0:30

AUD

ANZ Job Advertisements (MoM) (FEB)

0.9%

-

1.2%

4:30

JPY

Bankruptcies (YoY) (FEB)

-11.50%

-

-16.55%

5:00

JPY

Eco Watchers Survey: Outlook (FEB)

53.2

50.4

50.0

5:00

JPY

Eco Watchers Survey: Current (FEB)

50.1

46.5

45.6

European Session

GMT

CCY

EVENT

EXP/ACT

PREV

IMPACT

7:00

EUR

German Trade Balance (€) (JAN)

15.9B (A)

18.9B

Low

7:00

EUR

German Current Account (€) (JAN)

16.8B (A)

25.6B

Low

7:00

EUR

German Imports s.a. (MoM) (JAN)

-0.3% (A)

-0.7%

Low

7:00

EUR

German Exports s.a. (MoM) (JAN)

-2.1% (A)

2.8%

Low

8:00

CHF

SNB Sight Deposits

-

-

Low

8:30

EUR

Eurozone FinMins Meet in Brussels

-

-

High

9:30

EUR

Eurozone Sentix Investor Conf (MAR)

18.6 (A)

12.4

Low

Critical Levels

CCY

Supp 3

Supp 2

Supp 1

Pivot Point

Res 1

Res 2

Res 3

EURUSD

1.0520

1.0713

1.0778

1.0906

1.0971

1.1099

1.1292

GBPUSD

1.4660

1.4884

1.4961

1.5108

1.5185

1.5332

1.5556

--- 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