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
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
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
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
GBP/USD
Mixed
USD/JPY
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
More View more
Real Time News
  • Heads Up:🇺🇸 Michigan Inflation Expectations Final due at 14:00 GMT (15min) Previous: 2.1% https://www.dailyfx.com/economic-calendar#2020-05-29
  • Heads Up:🇺🇸 Michigan 5 Year Inflation Expectations Final due at 14:00 GMT (15min) Previous: 2.5% https://www.dailyfx.com/economic-calendar#2020-05-29
  • Heads Up:🇺🇸 Michigan Consumer Sentiment Final due at 14:00 GMT (15min) Expected: 74 Previous: 71.8 https://www.dailyfx.com/economic-calendar#2020-05-29
  • Indices Update: As of 13:00, these are your best and worst performers based on the London trading schedule: US 500: -0.18% Wall Street: -0.45% France 40: -0.95% Germany 30: -1.19% FTSE 100: -1.55% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/YWyi6VjNe4
  • Fed's Mester says yield curve control is not for this phase of action where Fed is supporting market functioning
  • Fed's Mester sees yield curve control as forward guidance support
  • GBP/USD: cluster of recent lows around the 1.2160 level and the Tuesday’s low print at 1.2190 may act as the first level of support for the pair. Get your $GBPUSD technical analysis from @nickcawley1 here:https://t.co/yvGzi5hoQw https://t.co/39532trXKn
  • RT @JeremyNaylor_IG: #RiskEventoftheWeek - 1 June @DailyFX discusses the #ECB meeting and the potential for indications of failure of final…
  • 🇺🇸 PCE Price Index MoM Actual: -0.5 Previous: -0.3% https://www.dailyfx.com/economic-calendar#2020-05-29
  • 🇺🇸 PCE Price Index YoY Actual: 0.5 Previous: 1.3% https://www.dailyfx.com/economic-calendar#2020-05-29
Pound May Fall on Soft PMI, Aussie Dollar Soars as RBA Holds Rates

Pound May Fall on Soft PMI, Aussie Dollar Soars as RBA Holds Rates

2015-04-07 05:49:00
Ilya Spivak, Head Strategist, APAC
Share:

Talking Points:

  • British Pound May Decline if Soft PMI Data Undermines BOE Policy Outlook
  • Australian Dollar Rallies After RBA Keeps Interest Rates Unchanged at 2.25%
  • See Economic Data Flow Directly on Your Charts with the DailyFX News App

UK Services PMI data headlines the economic calendar in European trading hours. Expectations suggest the pace of activity growth in the non-manufacturing sector will modestly accelerate in March. UK economic news-flow has tended to disappoint relative to consensus forecast recently, warning that analysts may be overestimating the economy’s vigor and opening the door for a downside surprise. Such an outcome may push out bets on a Bank of England interest rate hike further into the future, weighing on the British Pound. As it stands, futures markets are pricing in expectations for the central bank to begin dialing back stimulus in the first quarter of 2016.

The Australian Dollar outperformed in overnight trade after the Reserve Bank of Australia kept interest rates unchanged at 2.25 percent. As we discussed in our weekly forecast, analysts narrowly expected the outcome but traders were pricing in a 75 percent probability of a 25bps reduction. RBA Governor Glenn Stevens said further easing may be appropriate and policymakers will continue to assess the case for such action at forthcoming meetings.

New to FX? START HERE!

Asia Session

GMT

CCY

EVENT

ACT

EXP

PREV

23:30

AUD

AiG Perf of Services Index (MAR)

50.2

-

51.7

23:50

JPY

Official Reserve Assets ($) (MAR)

1245.3B

-

1251.1B

1:30

AUD

Retail Sales (MoM) (FEB)

0.7%

0.4%

0.5%

1:30

AUD

ANZ Job Advertisements (MoM) (MAR)

-1.4%

-

0.7%

4:30

AUD

RBA Cash Rate Target

2.25%

2.25%

2.25%

European Session

GMT

CCY

EVENT

EXP

PREV

IMPACT

7:00

CHF

Foreign Currency Reserves (MAR)

508.9B

509.3B

Low

7:45

EUR

Markit/ADACI Italy Services PMI (MAR)

51.0

50.0

Low

7:45

EUR

Markit/ADACI Italy Composite PMI (MAR)

-

51.0

Low

7:50

EUR

Markit France Services PMI (MAR F)

52.8

52.8

Low

7:50

EUR

Markit France Composite PMI (MAR F)

52.0

51.7

Low

7:55

EUR

Markit Germany Services PMI (MAR F)

55.3

55.3

Medium

7:55

EUR

Markit/BME Germany Composite PMI (MAR F)

55.3

55.3

Medium

8:00

EUR

Markit Eurozone Services PMI (MAR F)

54.3

54.3

Medium

8:00

EUR

Markit Eurozone Composite PMI (MAR F)

54.1

54.1

Medium

8:30

GBP

Official Reserves Changes ($) (MAR)

-1049M

Low

8:30

EUR

Eurozone Sentix Investor Confidence (APR)

20.8

18.6

Low

8:30

GBP

Markit/CIPS UK Services PMI (MAR)

57.0

56.7

High

8:30

GBP

Markit/CIPS UK Composite PMI (MAR)

-

56.7

High

9:00

EUR

Eurozone PPI (MoM) (FEB)

0.1%

-0.9%

Medium

9:00

EUR

Eurozone PPI (YoY) (FEB)

-2.9%

-3.4%

Medium

Critical Levels

CCY

Supp 3

Supp 2

Supp 1

Pivot Point

Res 1

Res 2

Res 3

EURUSD

1.0704

1.0830

1.0876

1.0956

1.1002

1.1082

1.1208

GBPUSD

1.4691

1.4801

1.484

1.4911

1.4950

1.5021

1.5131

--- 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.