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
GBP/USD
Mixed
USD/JPY
Bearish
Gold
Bullish
Oil - US Crude
Bullish
Bitcoin
Bearish
More View more
Real Time News
  • EUR/USD Technical Analysis: Euro May Bounce From 3-Year Low - https://www.dailyfx.com/forex/technical/home/analysis/eur-usd/2020/02/19/EURUSD-Technical-Analysis-Euro-May-Bounce-From-3-Year-Low.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #EURUSD #technicalanalysis https://t.co/ck23dW36Mp
  • 🇬🇧 GBP CPIH (YoY) (JAN), Actual: 1.8% Expected: 1.7% Previous: 1.4% https://www.dailyfx.com/economic-calendar#2020-02-19
  • UK inflation - CPI jumps to 1.8% (6-month high) in January vs 1.3% in December. #gbp #sterling #trading ONS Report -> https://t.co/jqnbVTArGs
  • 🇬🇧 GBP House Price Index (YoY) (DEC), Actual: 2.2% Expected: 2.4% Previous: 1.7% https://www.dailyfx.com/economic-calendar#2020-02-19
  • 🇬🇧 GBP Core Consumer Price Index (YoY) (JAN), Actual: 1.6% Expected: 1.5% Previous: 1.4% https://www.dailyfx.com/economic-calendar#2020-02-19
  • 🇬🇧 GBP Consumer Price Index (YoY) (JAN), Actual: 1.8% Expected: 1.6% Previous: 1.3% https://www.dailyfx.com/economic-calendar#2020-02-19
  • 🇬🇧 GBP Consumer Price Index (MoM) (JAN), Actual: -0.3% Expected: -0.4% Previous: 0.0% https://www.dailyfx.com/economic-calendar#2020-02-19
  • Join @PaulRobinsonFX 's #webinar at 5:30 AM ET/10:30 AM GMT to gain insight on indices and commodities for the active trader. Register here: https://t.co/gghsFsZYlx https://t.co/tQh01FumFH
  • RT @IGSouthAfrica: Last chance to register for today's 'Trading with the MACD' webinar at 12pm https://t.co/R7XmiWEjRA
  • Conflicting signals in terms of safe-haven vs growth outlook. #Brent #Oil bullish reversal (double bottom) left, and #USD #Gold bullish continuation (triangle break) right. #TechnicalAnalysis I generally have more trust in continuations than reversals but lets see https://t.co/J2QcOy4MfJ
Currency Markets Look to US Data, Q1 Earnings for Direction Cues

Currency Markets Look to US Data, Q1 Earnings for Direction Cues

2016-04-20 05:41:00
Ilya Spivak, Sr. Currency Strategist
Share:

Talking Points:

  • British Pond may look past UK jobless claims figures and BOE comments
  • US Dollar may see outsized gains if Existing Home Sales data proves rosy
  • Influence of sentiment trends remains important on Q1 earnings releases

The economic calendar is relatively quiet in European trading hours. UK jobless claims figures and comments from Bank of England MPC member Ian McCafferty seem unlikely to deliver significant volatility for the British Pound considering their limited implications for near-term policy prospects. Similarly, scheduled remarks from ECB President Draghi may pass with little fanfare as traders opt against directional commitment until after the rate decision due later in the week.

Later in the day, US Existing Home Sales numbers will enter the spotlight. Priced-in Fed policy bets implied in futures and OIS rates have remained conspicuously stable even as economic news-flow has deteriorated relative to expectations over the past week. If this speaks to the markets having reached something of a floor in the tightening outlook, upbeat results may drive an outsized hawkish shift in perceptions and boost the US Dollar while a soft print passes with little fanfare.

Risk sentiment trends remain an important input as the first-quarter corporate earnings reporting season continues. Results from 25 companies in the S&P 500 including consumer powerhouses Coca Cola and Yum Brands as well as important financial names US Bancorp and American Express are on tap. Thus far, sales and overall earnings have topped estimates by 0.09 and 4.63 percent respectively on average, with 58 firms in the benchmark index having announced.

The sentiment-linked Australian, Canadian and New Zealand Dollars underperformed while the anti-risk Japanese Yen advanced in overnight trade. The moves appeared corrective after yesterday’s swell in risk appetite produced the inverse dynamic.

Where are the financial markets heading in the second quarter?See our forecasts here!

Asia Session

GMT

CCY

EVENT

ACT

EXP

PREV

23:50

JPY

Trade Balance (MAR)

¥755.0b

¥834.6b

¥242.2b

23:50

JPY

Trade Balance Adjusted (MAR)

¥276.5b

¥450.0b

¥150.4b

23:50

JPY

Exports (YoY) (MAR)

-6.8%

-7.0%

-4.0%

23:50

JPY

Imports (YoY) (MAR)

-14.9%

-16.6%

-14.2%

0:30

AUD

Westpac Leading Index (MoM) (MAR)

-0.12%

-

-0.23%

1:00

AUD

Skilled Vacancies (MoM) (MAR)

-1.2%

-

-1.2%

6:00

JPY

Machine Tool Orders (YoY) (MAR F)

-

-21.2%

European Session

GMT

CCY

EVENT

EXP

PREV

IMPACT

6:00

EUR

German PPI (MoM) (MAR)

0.2%

-0.5%

Medium

6:00

EUR

German PPI (YoY) (MAR)

-2.9%

-3.0%

Medium

7:00

JPY

Convenience Store Sales (YoY) (MAR)

-

1.6%

Low

8:30

GBP

Claimant Count Rate (MAR)

2.1%

2.1%

Medium

8:30

GBP

Jobless Claims Change (MAR)

-10.0k

-18.0k

Medium

8:30

GBP

Average Weekly Earnings (3M/YoY) (FEB)

2.3%

2.1%

Medium

8:30

GBP

Weekly Earnings ex Bonus (3M/YoY) (FEB)

2.1%

2.2%

Low

8:30

GBP

ILO Unemployment Rate (3Mths) (FEB)

5.1%

5.1%

Medium

8:30

GBP

Employment Change (3M/3M) (FEB)

60k

116k

Low

9:00

CHF

Credit Suisse ZEW Survey Expectations (APR)

-

2.5

Low

10:00

EUR

ECB's Draghi Speaks in Frankfurt

-

-

Low

13:00

GBP

BOE's McCafferty Speaks in London

-

-

Low

Critical Levels

CCY

Supp 3

Supp 2

Supp 1

Pivot Point

Res 1

Res 2

Res 3

EUR/USD

1.1187

1.1268

1.1313

1.1349

1.1394

1.1430

1.1511

GBP/USD

1.4067

1.4215

1.4306

1.4363

1.4454

1.4511

1.4659

--- 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.