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 to Look Past German ZEW Data as Greece Worries Loom Large

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

Ilya Spivak, Head Strategist, APAC

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