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.

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
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
Bullish
GBP/USD
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.28% Gold: -0.31% Silver: -3.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/E9jn9lVQkj
  • US Dollar: Ready to Rumble with High-Impact Data - EURUSD, AUDUSD https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2020/09/30/US-Dollar-USD-Ready-to-Rumble-High-Impact-Data-EUR-USD-AUD-USD.html https://t.co/4NyN3ROIwJ
  • Senator McConnell signals that a deal is still far off on stimulus $SPX $DJI $DXY
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.18%, while traders in Wall Street are at opposite extremes with 69.58%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/cF2BM1c9q9
  • In the very short term, price action in USD/CAD is likely to be distorted by month-end flows. The general view is that month-end is expected to be USD supportive. Get your $USDCAD market update from @JMcQueenFX here: https://t.co/skS3cCMzB4 https://t.co/4o7EFmM86G
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Wall Street: 1.89% US 500: 1.53% FTSE 100: 0.20% France 40: 0.07% Germany 30: 0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/o3yVsioOC5
  • Fed's Bowman: - Continued monetary and targeted fiscal support may be needed - If virus worsens asset prices will be vulnerable to price drops - BBG
  • Secretary Mnuchin says he will meet with Senator McConnell today - BBG
  • EUR/USD is currently just holding onto 1.1700 as US dollar strength and Euro weakness combine to keep downward pressure on the pair. Get your $EURUSD market update from @nickcawley1 here: https://t.co/u38O9owdB0 https://t.co/BgVq604gBl
  • US Treasury Secretary Steve Mnuchin showed up for follow up stimulus talks with House Speaker Pelosi's team. I remain highly dubious they will hash out this necessary stimulus follow up soon. With the recent layoff announcements, the need is becoming more obvious
Euro at Risk on German CPI, US Dollar Seeks Help From GDP Data

Euro at Risk on German CPI, US Dollar Seeks Help From GDP Data

2017-07-28 07:32:00
Ilya Spivak, Head Strategist, APAC
Share:

Talking Points:

  • Euro at risk if German CPI disappoints, cools ECB tightening speculation
  • US Dollar may rise as Q2 GDP rekindles 2017 Fed interest rate hike bets
  • Are FX markets matching DailyFX forecasts so far in Q3? Find out here

The preliminary set of July’s German CPI figures headlines the economic calendar in European hours. The headline year-on-year inflation rate is expected to tick down to 1.5 percent, revisiting the six-month low set in May. A weaker outcome echoing a sting of disappointing data in recent weeks may hurt the case for ECB stimulus reduction. That may weigh on the Euro, though it has been remarkably resilient lately.

The spotlight then turns to the second-quarter US GDP report. Consensus forecasts see the annualized growth rate accelerating to 2.7 percent from 1.4 percent in the three months through March. Unlike the Eurozone, recent US economic news-flow has increasingly improved relative to expectations. That may open the door for an upside surprise that rekindles bets on another Fed rate hike in 2017, boosting the US Dollar.

The Swiss Franc underperformed in overnight trade. The currency has been under pressure all week and is now working on its fifth consecutive daily drop, touching the lowest level since December 2015 against an average of its major counterparts. A clear-cut driver for the reversal is not readily apparent. Newswires have cited ECB tightening bets but evidence confirming as much is lacking.

The Japanese Yen traded broadly higher as most stocks fell in Asian trade, offering a lift to the standby anti-risk currency. The MSCI Asia Pacific regional equities benchmark slid 0.7 percent, led by the technology shares. The move echoed performance on Wall Street, a deep slide in IT-related names saw the S&P 500 spike down to a six-day low.

Need help turning market news into a strategy? See our trading guide!

Asia Session

Euro at Risk on German CPI, US Dollar Seeks Help From GDP Data

European Session

Euro at Risk on German CPI, US Dollar Seeks Help From GDP Data

** 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