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
Bullish
Wall Street
Bearish
Gold
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
GBP/USD
Bearish
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
  • IG Client Sentiment Update: Our data shows the vast majority of traders in EUR/CHF are long at 74.94%, while traders in France 40 are at opposite extremes with 78.51%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/mAeMikv4Fm
  • Heads Up:🇧🇷 Business Confidence (JUN) due at 17:00 GMT (15min) Previous: 58.5 https://www.dailyfx.com/economic-calendar#2021-06-14
  • Has Bitcoin Bottomed? PTJ Makes Crypto Bull Case (Again) https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2021/06/14/has-bitcoin-btc-btcusd-bottomed-ptj-makes-bull-case.html #BTC https://t.co/5AVns1VChh
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.34% Silver: 0.10% Gold: -0.72% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/Pd49xggkDe
  • Gold prices put in a major breakout last month, and so far buyers have been able to hold the bullish trend. Get your $XAUUSD market update from @JStanleyFX here:https://t.co/NGRTSfceOW https://t.co/WeYD451eCw
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.23% 🇨🇦CAD: 0.17% 🇪🇺EUR: 0.14% 🇬🇧GBP: 0.03% 🇨🇭CHF: -0.13% 🇯🇵JPY: -0.29% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/18JsQysBpm
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Germany 30: -0.10% France 40: -0.12% FTSE 100: -0.15% US 500: -0.21% Wall Street: -0.62% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/11CO324Vg7
  • May consumer inflation expectations for the medium term climb to 4% from 3.4% in April.Get your market update from @DColmanFX here:https://t.co/Dsa5Sxn0fU https://t.co/oGStoYQ8qq
  • Heads Up:🇧🇷 Business Confidence (JUN) due at 16:00 GMT (15min) Previous: 58.5 https://www.dailyfx.com/economic-calendar#2021-06-14
  • Technical Levels: #Dollar, #Sterling, #Loonie, #Gold, #Bitcoin, #Oil and more! (Webinar Archive) - https://t.co/0ztuS6u8z7
Euro Drops Below 1.10 vs. US Dollar Amid ECB Pre-Positioning

Euro Drops Below 1.10 vs. US Dollar Amid ECB Pre-Positioning

Ilya Spivak, Head Strategist, APAC

Talking Points:

  • Euro declines amid pre-positioning for ECB monetary policy announcement
  • Australian, Canadian Dollars fall as Yen gains amid risk aversion overnight
  • Quiet docket of scheduled event risk puts financial markets in digestion mode

The Euro underperformed in overnight trade. A singular catalyst was not readily apparent, suggesting the move may have reflected pre-positioning ahead of this week’s much-anticipated ECB policy announcement. The central bank is expected to cut the deposit rate by 10bps to -0.4 percent and may increase the size of monthly QE asset purchases.

The single currency corrected higher as traders unwound bets on depreciation over the past week. Indeed, the latest COT positioning report showed speculative net-short exposure fell for the first in eight weeks in the five days through March 1. Within that context, a downswing representing a move toward “neutral” does not seem unreasonable.

The sentiment-linked Australian and Canadian Dollars tracked stocks lower. The MSCI Asia Pacific regional benchmark equity index fell 1 percent in a move that appeared to reflect follow-on momentum from a selloff on Wall Street. The anti-risk Japanese Yen traded higher against most of its major counterparts, although the benchmark USD/JPY cross traded little-changed on the session.

Looking ahead, a quiet economic calendar in European trading hours offers little by way of scheduled event risk to shape price action. That seems likely to make for a digestive tone, with markets in retracement mode until the next round of high-profile news-flow by way of the BOC and RBNZ rate decisions crosses the wires.

Losing money trading the FX market? This might be why.

Asia Session

GMT

CCY

EVENT

ACT

EXP

PREV

21:45

NZD

Card Spending Retail (MoM) (FEB)

0.7%

0.3%

0.4%

21:45

NZD

Card Spending Total (MoM) (FEB)

-0.1%

-

0.6%

23:30

AUD

Westpac Consumer Conf Index (MAR)

99.1

-

101.3

23:30

AUD

Westpac Consumer Conf SA (MoM) (MAR)

-2.2%

-

4.2%

23:50

JPY

Money Stock M2 (YoY) (FEB)

3.1%

3.2%

3.2%

23:50

JPY

Money Stock M3 (YoY) (FEB)

2.5%

2.6%

2.6%

00:30

AUD

Home Loans (MoM) (JAN)

-3.9%

-3.0%

2.7%

00:30

AUD

Investment Lending (JAN)

-1.6%

-

-0.1%

00:30

AUD

Owner-Occupier Loan Value (MoM) (JAN)

-4.3%

-

-0.2%

06:00

JPY

Machine Tool Orders (YoY) (FEB P)

-

-17.2%

European Session

GMT

CCY

EVENT

EXP

PREV

IMPACT

09:00

GBP

BOE's Bailey Speaks in London

-

-

Low

09:30

GBP

Industrial Production (MoM) (JAN)

0.4%

-1.1%

Medium

09:30

GBP

Industrial Production (YoY) (JAN)

0.0%

-0.4%

Medium

09:30

GBP

Manufacturing Production (MoM) (JAN)

0.2%

-0.2%

Medium

09:30

GBP

Manufacturing Production (YoY) (JAN)

-0.7%

-1.7%

Medium

Critical Levels

CCY

Supp 3

Supp 2

Supp 1

Pivot Point

Res 1

Res 2

Res 3

EUR/USD

1.0893

1.0957

1.0984

1.1021

1.1048

1.1085

1.1149

GBP/USD

1.4018

1.4120

1.4167

1.4222

1.4269

1.4324

1.4426

--- 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