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
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
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
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
More View more
Real Time News
  • The $AUD may suffer as relations between Australia and China deteriorate amid dwindling growth prospects. Euro traders will be closely watching progress in talks about a €500b recovery fund proposal. Get your market update from @ZabelinDimitri here: https://t.co/LkEFJViPWY https://t.co/sofO135ElG
  • The US Dollar could rise against #ASEAN currencies such as the Singapore Dollar as US-China tensions seem to escalate. The Indian Rupee is also looking ahead of local 1Q GDP data. Get your ASEAN currencies market update from @ddubrovskyFX here:https://t.co/LkEFJViPWY https://t.co/ZGFaQQ3Hr2
  • The #Euro is the big driver here for DXY as it is 57% of the index. It is rising now and trying to break above the March 27 high at 11147. Get your $EURUSD technical analysis from @PaulRobinsonFX here:https://t.co/6gt3F9LuGP https://t.co/73SaL5AeXD
  • U.S. Market Analyst at https://t.co/JsVsSmefgR, Shain Vernier covers - ✔️ Safe haven assets in volatile markets ✔️ Central banks and governments ✔️ How will commodities trade in a recession Only on Trading Global Markets Decoded #podcast. Tune in here: https://t.co/1UmEzEbwiy https://t.co/EIC9YqfTec
  • Anybody else think that casting directors in movies are some of the most underrated people when it comes to giving a film/series credit?
  • No https://t.co/EoBltaP17k
  • Crude #oilprices may face heightened liquidation pressure as the cycle-sensitive #commodity finds itself under the pressure of resilient resistance and a vulnerable, multi-week rising channel. Get your crude #oil market update from @ZabelinDimitri here: https://t.co/cGPX4qcOH1 https://t.co/0U4JMJVFuf
  • The @ecb will likely boost its Pandemic Emergency Purchase Program at Thursday’s meeting of its Governing Council; a move that could give the #Euro a lift. Get your currencies market update from @MartinSEssex here: https://t.co/I4PbmJNG1z https://t.co/hu6Ld1KdDB
  • $GBPUSD doesn’t have the cleanest set of technical indications, but #USD may give indications if it can break its trading range via the $DXY. Get your currencies market update from @PaulRobinsonFX here: https://t.co/PrC9wAaXvU https://t.co/vHYHflwqR3
  • The ongoing contraction in US production may keep #oilprices afloat in June as crude output falls to its lowest level since October 2018. Get your crude #oil market update from @DavidJSong https://t.co/jj1bMLX0DF https://t.co/O9NOqbfHkb
Euro to Look Past German ZEW Data as Greece Worries Loom Large

Euro to Look Past German ZEW Data as Greece Worries Loom Large

2015-04-21 04:30:00
Ilya Spivak, Head Strategist, APAC
Share:

Talking Points:

  • Euro Unlikely to Find Follow-Through in German ZEW Report
  • Commodity Currencies, US Dollar Respond to Policy Outlooks
  • See Economic Data on Your Charts with the DailyFX News App

Germany’s ZEW Survey of analyst confidence headlines the economic calendar in European trading hours. The forward-looking Expectations index is expected to rise to 55.3, putting sentiment at the highest level in 14 months. A rosy outcome seems unlikely to offer a meaningful lift to the Euro however considering its limited implications for near-term ECB monetary policy.

The central bank seems to be on auto-pilot for the time being as it monitors the impact of its new €60/month QE effort. Looming Greece-linked event risk by way of the upcoming Eurozone finance ministers’ meeting may likewise discourage commitment to a directional bias from investors. In fact, scheduled commentary from Danièle Nouy, the President of the ECB’s Supervisory Council, may easily overshadow the ZEW report if she opts to opine on the ability of Eurozone banks to withstand turbulence from an adverse Greece scenario.

The Australian, Canadian and New Zealand Dollars underperformed in overnight trade – posting sizable declines against their major counterparts – while the US Dollar traded broadly higher. The moves in all four currencies tracked intraday price action in 10-year US Treasury bond futures. The greenback rose alongside prices for contracts tracking the US debt benchmark while the so-called “commodity” dollars declined inversely of them.

The move may have reflected demand for USD-based assets after RBA and BOC Governors Stevens and Poloz played down rate hike probabilities in a pair of separate speeches in New York earlier in the day. Such guidance stands in contrast to that of the Federal Reserve, where traders continue to expect at least one interest rate hike in 2015. Fed funds futures imply the first post-QE increase in the overnight lending rate will occur by October.

New to FX? START HERE!

Asia Session

GMT

CCY

EVENT

ACT

EXP

PREV

23:30

AUD

ANZ Roy Morgan Weekly Consumer Conf Index

108.8

-

109.8

1:30

AUD

RBA April Meeting Minutes

-

-

-

1:45

CNY

MNI Business Indicator (APR)

48.8

-

52.2

5:00

JPY

Leading Index CI (FEB F)

-

105.3

5:00

JPY

Coincident Index (FEB F)

-

110.5

5:00

JPY

Supermarket Sales (YoY) (MAR)

-

-0.8%

6:00

JPY

Nationwide Dept Sales (YoY) (MAR)

-

1.1%

6:00

JPY

Tokyo Dept Store Sales (YoY) (MAR)

-

5.3%

European Session

GMT

CCY

EVENT

EXP

PREV

IMPACT

7:00

CHF

Money Supply M3 (YoY) (MAR)

-

2.3%

Low

9:00

EUR

Eurozone Gov’t Debt/GDP Ratio (2014)

-

90.9%

Low

9:00

EUR

German ZEW Survey Current Situation (APR)

56.5

55.1

Medium

9:00

EUR

German ZEW Survey Expectations (APR)

55.3

54.8

Medium

9:00

EUR

Eurozone ZEW Survey Expectations (APR)

-

62.4

Medium

Critical Levels

CCY

Supp 3

Supp 2

Supp 1

Pivot Point

Res 1

Res 2

Res 3

EURUSD

1.0532

1.0645

1.0691

1.0758

1.0804

1.0871

1.0984

GBPUSD

1.4734

1.4830

1.4869

1.4926

1.4965

1.5022

1.5118

--- 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.