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
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
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
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
GBP/USD
Bearish
USD/JPY
Mixed
More View more
Real Time News
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here: https://t.co/QszmdZFxlk https://t.co/QMKyTBOKNG
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here: https://t.co/4jsORznRTE https://t.co/aRkGoNvj6D
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here: https://t.co/t9Flsqcxo9 https://t.co/ltVTNO2sjT
  • GBP/USD clears the May low (1.3801) as the Federal Reserve forecasts two rate hikes for 2023. Get your $GBP market update from @DavidJSong here:https://t.co/WdTG2niAKz https://t.co/2j02VyH0wm
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.01% 🇪🇺EUR: -0.36% 🇨🇭CHF: -0.60% 🇨🇦CAD: -0.91% 🇦🇺AUD: -0.96% 🇳🇿NZD: -1.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/HWVSmqaiYF
  • The amount of breakouts the #USD saw against its major peers this week was fairly impressive Lots of opportunities here for reversing dominant downtrends that have been prevailing for about 14-15 months Stay tuned for my USD weekly technical outlook coming out this weekend!
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.19% Silver: -0.41% Gold: -0.57% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/J6vFrm0Psb
  • Post-Fed, plunging commodity prices are weighing down growth-sensitive currencies like the Canadian Dollar. Get your market update from @CVecchioFX here:https://t.co/RwM9qu0Zjv https://t.co/u6WFpqfcdZ
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Gold are long at 85.22%, while traders in France 40 are at opposite extremes with 70.57%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/O3dA4qOEid
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: France 40: 0.14% FTSE 100: 0.09% Germany 30: 0.06% Wall Street: -0.02% US 500: -0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/MFEjkHP34f
Euro May Shrug Off GDP Revision, Focus on SPD Convention Outcome

Euro May Shrug Off GDP Revision, Focus on SPD Convention Outcome

Ilya Spivak, Head Strategist, APAC

Talking Points:

  • Euro may shrug off GDP revision, focus on SPD convention outcome
  • Stock futures hint at risk-on mood ahead, suggesting the Yen may fall
  • Aussie and Kiwi Dollars fall as US yield rise redirects carry demand

A revised set of third-quarter Eurozone GDP figures headlines a lackluster offering on the European economic data docket. The on-year growth rate is expected to register an eight-year high of 2.5 percent, matching previously released estimates. The outcome seems unlikely to mean much for the Euro however considering its limited implications for the ECB, where policy seems to be on auto-pilot in the near term.

Rather, the single currency might find get some help from the political side of equation. Germany’s center-left Social Democratic Party (SPD) will hold a convention in Berlin. This might produce a vote approving coalition talks with Angela Merkel’s CSU/CDU bloc. Such an arrangement would restore stability at the helm of the currency bloc’s largest economy and is likely to be greeted by investors.

On the sentiment front, futures tracking the FTSE 100 and S&P 500 equity benchmarks are pointing higher before London and New York come online. This hints at a risk-on mood ahead and might be most obviously market-moving for the Japanese Yen, driving it lower. About-face intraday reversals of the prevailing market mood over the past three sessions argue against reading too much into such cues however.

The Australian and New Zealand Dollars fell in Asia Pacific trade, moving inversely of a rise in front-end US Treasury bond yields. This hints at speculation that a steeper Fed rate hike path will see the US Dollar supplant the two currencies as an object of carry trade demand. Indeed, the greenback traded broadly higher. The Aussie’s losses were compounded by disappointing trade balance data.

What is the #1 mistake that traders make and how can you fix it? Find out here!

Asia Session

Euro May Shrug Off GDP Revision, Focus on SPD Convention Outcome

European Session

Euro May Shrug Off GDP Revision, Focus on SPD Convention 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