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
Mixed
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
Bullish
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • NY Fed accepts $509.6 billion in daily reverse repo operations, down $74 billion from yesterday $USD $DXY
  • Canadian #Dollar Forecast: $USDCAD Rebound to Face #FOMC- #Loonie Levels - https://t.co/iB2PKLyMwK https://t.co/77D9BfswL5
  • Channel break leaves gold adrift. One technical indicator suggests the sell-off may be overextended. Get your market update from @nickcawley1 here:https://t.co/zRBQqac8ac https://t.co/ET1dHsqKFg
  • Please join @JStanleyFX at 14:00 EST/16:00 GMT for a webinar on trading price action. Register here: https://t.co/rFhWzz0pIy https://t.co/melMU6h4Jr
  • No follow through on the Nasdaq's and S&P 500's record high close yesterday. Not surprising with the FOMC on the forward looking threat radar. Meanwhile, the Dow is listing dangerously like a boat taking on water. Will the Fed save or sink? https://t.co/GIkChQdOKZ
  • IG Client Sentiment Update: Our data shows the vast majority of traders in USD/CHF are long at 75.11%, while traders in France 40 are at opposite extremes with 79.40%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/K4d2XxyGdx
  • WTI enjoying another strong session, up over 1% on the day and currently trading just below $72/bbl #Oil $CL_F #WTI https://t.co/UGf668BEt4
  • IG client sentiment data are sending bullish signals for both USD/CHF and EUR/CHF, suggesting a weaker Swiss Franc all around. Get your market update from @MartinSEssex here:https://t.co/2DJ7HuVnRP https://t.co/4xaNF4FjXN
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.25% Gold: -0.62% Silver: -1.30% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/WsLmJFTVct
  • $DXY $USD | US Dollar Index little changed after tagging its negatively sloped 50-day simple moving average earlier in the session as markets get positioned for FOMC event risk tomorrow. https://t.co/d7DE8WF0ZI
Euro May Rise if Draghi Hints ECB QE Could Be Cut Short

Euro May Rise if Draghi Hints ECB QE Could Be Cut Short

Ilya Spivak, Head Strategist, APAC

Talking Points:

  • US Dollar Rebounds, Aussie Dollar Drops on RBA Rate Cut Bets Overnight
  • Euro May Rise if ECB President Draghi Hints QE Program Can Be Cut Short
  • See Economic Releases Directly on Your Charts with the DailyFX News App

The US Dollar outperformed in overnight, rising as much as 0.2 percent on average against its leading counterparts. The move appeared corrective after the greenback suffered its largest drawdown in two weeks over the preceding 24 hours following a disappointing US Retail Sales report. The Australian Dollar proved weakest on the session. The move played out alongside a drop in front-end yields, pointing to building RBA rate cut expectations as a likely catalyst behind selling pressure.

A monetary policy from the European Central Bank headlines the economic calendar in the hours ahead. Officials are locked into a QE effort with defined scope (€60/month in asset purchases through September 2016), so tangible news on the policy mix is unlikely. The press conference with ECB President Mario Draghi will have market-moving potential however.

The Eurozone economy has shown some signs of life in recent months and the central bank chief will almost certainly have to field questions about the possibility that QE will be cut short if growth and inflation mend faster than expected. Rhetoric opening the door to such a possibility may be interpreted as a relative shift away from the ultra-dovish extreme on the policy outlook spectrum, boosting the Euro.

New to FX? START HERE!

Asia Session

GMT

CCY

EVENT

ACT

EXP

PREV

22:45

NZD

Food Prices (MoM) (MAR)

0.1%

-

-0.7%

0:30

AUD

Westpac Consumer Conf Index (APR)

96.2

-

99.5

0:30

AUD

Westpac Consumer Conf SA (MoM) (APR)

-3.2%

-

-1.2%

2:00

CNY

Retail Sales (YoY) (MAR)

10.2%

10.9%

-

2:00

CNY

Retail Sales YTD (YoY) (MAR)

10.6%

10.8%

10.7%

2:00

CNY

Industrial Production (YoY) (MAR)

5.6%

7.0%

-

2:00

CNY

Industrial Production YTD (YoY) (MAR)

6.4%

6.9%

6.8%

2:00

CNY

Fixed Assets Ex Rural YTD (YoY) (MAR)

13.5%

13.9%

13.9%

2:00

CNY

GDP (YoY) (MAR)

7.0%

7.0%

7.3%

2:00

CNY

GDP SA (QoQ) (MAR)

1.3%

1.4%

1.5%

2:00

CNY

GDP (YoY) (MAR)

7.0%

7.0%

7.4%

4:30

JPY

Industrial Production MoM (FEB F)

-3.1%

-

-3.4%

4:30

JPY

Industrial Production YoY (FEB F)

-2.0%

-

-2.6%

4:30

JPY

Capacity Utilization (MoM) (FEB)

-3.2%

-

3.6%

European Session

GMT

CCY

EVENT

EXP/ACT

PREV

IMPACT

8:00

EUR

CPI (MoM) (MAR F)

0.5%

0.5%

Low

8:00

EUR

CPI (YoY) (MAR F)

0.3%

0.3%

Low

8:00

EUR

CPI EU Harmonized (MoM) (MAR F)

0.5%

0.5%

Low

8:00

EUR

CPI EU Harmonized (YoY) (MAR F)

0.1%

0.1%

Low

9:00

EUR

Trade Balance SA (FEB)

22.0B

22.8B

Medium

9:00

EUR

Trade Balance NSA (FEB)

21.0B

7.9B

Medium

11:45

EUR

ECB Main Refinancing Rate

0.05%

0.05%

High

11:45

EUR

ECB Deposit Facility Rate

-0.20%

-0.20%

High

11:45

EUR

ECB Marginal Lending Facility

0.30%

0.30%

High

12:30

EUR

ECB’s Draghi Holds Press Conference

-

-

High

Critical Levels

CCY

Supp 3

Supp 2

Supp 1

Pivot Point

Res 1

Res 2

Res 3

EURUSD

1.0281

1.0456

1.0555

1.0631

1.0730

1.0806

1.0981

GBPUSD

1.4333

1.4531

1.4656

1.4729

1.4854

1.4927

1.5125

--- 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