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
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
Gold
Bearish
Oil - US Crude
Mixed
Bitcoin
Bearish
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.82%, while traders in USD/CAD are at opposite extremes with 70.18%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/bULTh7GRop
  • The price of #gold climbs to a fresh monthly high ($1681) as the #coronavirus drags on the global supply chain, and the precious metal may exhibit a bullish behavior over the remainder of the month. Get your $XAUUSD market update from @DavidJSong here: https://t.co/h02KVH9bWE https://t.co/cgq8X9gGZ3
  • Commodities Update: As of 17:00, these are your best and worst performers based on the London trading schedule: Silver: 1.90% Gold: 1.88% Oil - US Crude: -4.97% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/oZ1KxQywNr
  • Wall Street IG Client Sentiment: Our data shows traders are now net-long Wall Street for the first time since Oct 03, 2019 when Wall Street traded near 26,200.30. A contrarian view of crowd sentiment points to Wall Street weakness. https://www.dailyfx.com/sentiment https://t.co/XRLFJCPPtr
  • Forex Update: As of 17:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.97% 🇪🇺EUR: 0.13% 🇨🇭CHF: 0.06% 🇦🇺AUD: -0.20% 🇬🇧GBP: -0.27% 🇨🇦CAD: -0.41% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/EI1p6OLSRi
  • For the $SPX, this week's opening gap is the worst seen since August 1981 https://t.co/fVM4fHIGcB
  • As far as I can tell, this is the sharpest gap lower to start a week for the benchmark Dow since August 1998 https://t.co/YwPwGbGrL3
  • One of the more desired conditions that traders can look for are short-term reversals in price. Candlesticks themselves can help us see some of these potential reversals, with the Pin Bar. Find out how you can incorporate Pin Bars into your strategy here: https://t.co/0RFcb0Rpja https://t.co/vj3XW5aKEv
  • Indices Update: As of 17:00, these are your best and worst performers based on the London trading schedule: France 40: -0.08% Germany 30: -0.10% US 500: -3.03% Wall Street: -3.13% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/ggfLLMiWGJ
  • US Six-Month Bills Draw 1.440% Primary Dealers Accepted: 48.5% Indirect Bidders Accepted: 45.9% Direct Bidders Accepted: 5.6% B/C Ratio: 3.02
Euro May Fall on German GDP, US Dollar Eyes Fed Senate Hearings

Euro May Fall on German GDP, US Dollar Eyes Fed Senate Hearings

2018-05-15 05:30:00
Ilya Spivak, Sr. Currency Strategist
Share:

TALKING POINTS – GERMAN GDP, EURO, FED, US DOLLAR, RETAIL SALES

  • Euro may fall as German GDP slowdown cools ECB policy outlook
  • US Dollar may ignore retail sales, focus on Fed freshmen hearings
  • Rates-sensitive Yen, commodity dollars edged lower in APAC trade

In Europe, the spotlight is German GDP statistics. The report is expected to show that output added 0.4 percent in the first quarter, marking the weakest performance since the three months ending December 2016. The on-year growth rate is expected to slow for the first time since the third quarter of the same year, sliding to 2.4 percent.

Economic data flow out of the Eurozone has increasingly disappointed relative to consensus forecasts since the beginning of the year, warning that analysts’ models may be rosier than warranted. That opens the door for still more downside surprises. Such a result on today’s release may reinforce the sense that the ECB will not rush to remove policy support in the near term, weighing on the Euro.

Later in the day, US retail sales data is due. These are expected to produce a slight on-month slowdown in April, with receipts adding 0.3 percent compared with a 0.6 percent gain in March. Absent a wild deviation from expectations, the release seems unlikely to draw attention away from Senate confirmation hearings for aspiring Fed policymakers Richard Clarida and Michelle Bowman.

Clarida is up for Vice Chair while Bowman was tapped for the community banking post at the US central bank. If confirmed, they will acquire votes on current policy decisions. Both are seen as in line with the mainstream of Fed officials. Comments affirming their support for gradual stimulus withdrawal may be seen as reinforcing the case underpinning recent US Dollar, offering it another upward push.

Currency market price action was relatively muted in Asia Pacific trade, but an acute awareness of looming Fed-related news seemed palpable in rates-sensitive currencies at both ends of the G10 FX yield spectrum. Appropriately enough, Japanese Yen declined alongside the Australian and New Zealand Dollars while the greenback edged up modestly.

See our free guide to learn how to use economic news in your trading strategy!

ASIA PACIFIC TRADING SESSION

Asia Pacific Trading Session Economic Calendar

EUROPEAN TRADING SESSION

European Trading Session Economic Calendar

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

FX TRADING RESOURCES

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

To contact Ilya, use the comments section below or @IlyaSpivak on Twitter

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.