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
Mixed
Gold
Mixed
GBP/USD
Mixed
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
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here: https://t.co/kODPAfJE79 https://t.co/IRly5vINGA
  • Gold prices surged to a 14-week high as the 10-year Treasury yield fell for a third day. Inflation fears and viral resurgence bolstered the appeal of the yellow metal, as Chinese buyers returned to the market. https://www.dailyfx.com/forex/market_alert/2021/05/17/Gold-Prices-at-14-Week-High-as-Yields-Fall-Chinese-Buyers-Return.html https://t.co/0M7qQ73c65
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.68%, while traders in France 40 are at opposite extremes with 84.03%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/NoT4omixyH
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.03% 🇬🇧GBP: -0.07% 🇪🇺EUR: -0.11% 🇨🇦CAD: -0.23% 🇦🇺AUD: -0.40% 🇳🇿NZD: -0.48% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/GBc23P8NQJ
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: France 40: 0.17% Germany 30: -0.05% FTSE 100: -0.10% US 500: -0.28% Wall Street: -0.33% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/zEojicMMU8
  • Japanese candlesticks are a popular charting technique used by many traders, and the shooting star candle is no exception. Learn about the shooting star candlestick and how to trade it here: https://t.co/mfwJ0sZLTs https://t.co/zyTHSyUiMd
  • 🇹🇭 GDP Growth Rate QoQ (Q1) Actual: 0.2% Expected: -0.8% Previous: 1.3% https://www.dailyfx.com/economic-calendar#2021-05-17
  • 🇹🇭 GDP Growth Rate YoY (Q1) Actual: -2.6% Expected: -3.3% Previous: -4.2% https://www.dailyfx.com/economic-calendar#2021-05-17
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Silver: 0.63% Gold: 0.37% Oil - US Crude: 0.32% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/SnUeYQAKdi
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.02% 🇬🇧GBP: -0.11% 🇪🇺EUR: -0.11% 🇨🇦CAD: -0.24% 🇦🇺AUD: -0.35% 🇳🇿NZD: -0.39% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/d3OdjbE19m
Euro to Look Past GDP Data, US Dollar Bracing for FOMC Outcome

Euro to Look Past GDP Data, US Dollar Bracing for FOMC Outcome

Ilya Spivak, Head Strategist, APAC

Talking Points:

  • Euro unlikely to find fuel in bloc-wide GDP, German jobs data
  • All eyes now on the tone of the FOMC monetary policy statement
  • US Dollar outlook hinges on Fed view of Q1 growth slowdown

Eurozone GDP figures headline the economic calendar in European trading hours. The on-year growth rate is expected to register at 1.7 percent in the first quarter, unchanged from the three months through December 2016. The quarterly gain is projected at 0.5 percent, also a repeat of the prior period.

Separately, German labor-market statistics are forecast to show the ranks of the unemployed shrank by a further 11,000 while the jobless rate remains unchanged at 5.8 percent in April. News-flow out of the currency bloc has improved relative to median bets in recent weeks, opening the door for rosier outcomes.

On balance, the Euro seems unlikely to find much interest in these figures. The single currency may see some near-term gains if realized results substantially overshoot expectations but follow-through is unlikely considering the numbers’ limited implications changing the ECB’s firmly dovish posture.

This puts the spotlight on the FOMC monetary policy announcement. A change in the baseline lending rate is not in the cards but traders will keenly comb through the statement accompanying the rate decision for clues about what is to come next. As it stands, the priced-in chance of a hike in June is 70 percent.

Weeks of disappointing US economic data flow culminated in a gloomy first-quarter GDP report last week. The key question now is whether the central bank thinks this to be a temporary misstep or fears that something more ominous and longer-lasting is afoot.

The Fed’s own Beige Book regional economic survey struck an optimistic note even as data flow soured. If this foreshadows a sanguine FOMC statement, the US Dollaris likely to rise. A worried disposition that casts doubt on policymakers’ wherewithal to deliver three hikes this year may sink the greenback however.

We are covering the Fed rate decision live. Sign up for the webinar and join us!

Asia Session

Euro to Look Past GDP Data, US Dollar Bracing for FOMC Outcome

European Session

Euro to Look Past GDP Data, US Dollar Bracing for FOMC Outcome

** All times listed in GMT. See the full DailyFX economic calendar here.

--- 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