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
Bearish
Oil - US Crude
Bearish
Wall Street
Bearish
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
Bearish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.70% 🇦🇺AUD: 0.70% 🇬🇧GBP: 0.63% 🇪🇺EUR: 0.35% 🇨🇭CHF: 0.20% 🇯🇵JPY: -0.13% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/dJEKnTJHQS
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: France 40: 1.50% Germany 30: 1.39% FTSE 100: 0.95% Wall Street: 0.89% US 500: 0.66% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/ouTm0aMRaC
  • FTSE @ 6,150...just 80 points away from the early March gap...#ftse #stocks @DailyFXTeam https://t.co/X95auU1GC8
  • Heads Up:🇫🇷 Business Confidence due at 06:45 GMT (15min) Expected: 85 Previous: 82 https://www.dailyfx.com/economic-calendar#2020-05-26
  • Can anyone explain Bitcoin's 'flash crash'??? #BTC #bitcoin @DailyFXTeam 🤔🤔 https://t.co/jeravYvq68
  • #Gold rising alongside stocks and yields. 'Risk-on' tilt has driven #USD lower, so anti-fiat demand may be overpowering other forces. Classic 'risk-on' elsewhere: #AUD and #NZD up with #SPX500 futures, #JPY down alongside #bonds https://t.co/D6iK49Kfsz
  • 🇩🇪 GfK Consumer Confidence Actual: -18.9 Expected: -18.3 Previous: -23.1 https://www.dailyfx.com/economic-calendar#2020-05-26
  • 🇨🇭 Balance of Trade Actual: CHF4.3B Previous: CHF3.1B https://www.dailyfx.com/economic-calendar#2020-05-26
  • 🇩🇪 GfK Consumer Confidence Actual: -18.9 Expected: -18.3 Previous: -23.4 https://www.dailyfx.com/economic-calendar#2020-05-26
  • Heads Up:🇨🇭 Balance of Trade due at 06:00 GMT (15min) Previous: CHF3.2B https://www.dailyfx.com/economic-calendar#2020-05-26
Euro, Pound May Fall as the US Dollar Gains on Data Surprises

Euro, Pound May Fall as the US Dollar Gains on Data Surprises

2017-08-01 07:42:00
Ilya Spivak, Head Strategist, APAC
Share:

Talking Points:

  • Euro, British Pound may fall on as Q2 GDP and PMI figures disappoint
  • US Dollar may find a lifeline if PCE, ISM figures outperform expectations
  • Are FX markets matching DailyFX forecasts so far in Q3? Find out here

Investors will get their first look at second-quarter Eurozone GDP figures in European trading hours. The report is expected to show an increase of 0.6 percent, matching the gain in the three months through March. The on-year growth rate is seen rising to 2.1 percent however, the highest in over six years.

Recent stabilization notwithstanding, economic news-flow out of the currency bloc has soured relative to consensus forecasts since the beginning of July (according to statistics from Citigroup). This opens the door for a disappointment that cools near-term ECB policy normalization bets, hurting the Euro.

Meanwhile, July’s UK manufacturing PMI data is expected to deliver a pickup in sector growth after a slump to three-month lows in June. Here too, a series of increasingly soft results in recent months may foreshadow a weaker print that undermines tightening bets. That might sting the British Pound.

Later in the day, the spotlight turns to US PCE and ISM figures. The former is projected to show that the Fed’s favored core inflation gauge remained unchanged at 1.4 percent year-on-year in June. The latter is forecast to reveal a slowdown in the pace of factory-sector activity growth.

Unlike the Euro area, the US has managed to put up economic data that has increasingly improved relative to expectations since mid-June. Results echoing these outcomes may see investors upgrade the probability of another Fed rate hike in 2017, boosting the US Dollar.

Have a question about trading the FX markets? Join a Q&A webinar and ask it live!

Asia Session

Euro, Pound May Fall as the US Dollar Gains on Data Surprises

European Session

Euro, Pound May Fall as the US Dollar Gains on Data Surprises

** 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

News & Analysis at your fingertips.