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
Oil - US Crude
More View more
Real Time News
  • #Gold prices may fall while the US Dollar gains even as economic policies championed by the Trump administration invite inflation. Get your market update from @IlyaSpivak here: https://t.co/4lHhHsby56 $XAUUSD https://t.co/vT0Qqh6gy4
  • RT @TheEconomist: The mood in corporate America is darkening https://t.co/dBrDHdUzm4
  • Japan’s Nikkei PMI Manufacturing (OCT P) Actual: 48.5 Est: N/A Previous: 48.9 #JPY
  • The $NZD has attempted to recover against its US namesake as expected but the move may be cut short as sellers reclaim the upper hand. Get your NZD/USD market update from @IlyaSpivak here: https://t.co/D0LAlHHfuf https://t.co/wBcFhnfcAI
  • Japan’s Nikkei Japan PMI Manufacturing (OCT P) Actual: 48.5 Est: N/A Previous: 48.9 #JPY
  • #USDollar Forecast: #USDBRL Breakout Opening Door to Selloff? https://www.dailyfx.com/forex/analyst_picks/todays_picks/dimitri_zabelin/2019/10/24/US-Dollar-Forecast-USDBRL-Breakout-Opening-Door-to-Selloff.html
  • $USDSGD fell Wednesday despite #Singapore Core CPI missing expectations at 0.7% y/y (SEP), down from 0.8% prior. That was the softest outcome since March 2016. Weakness in #USD as #SP500 futures rose amid US earnings likely accounted for SGD strength - https://t.co/ATsmOqQOc5 https://t.co/2ohbq68ypV
  • Heads Up:🇯🇵 JPY Nikkei Japan PMI Manufacturing (OCT P) due at 00:30 GMT (15min), Actual: N/A Expected: N/A Previous: 48.9 https://www.dailyfx.com/economic-calendar#2019-10-24
  • Heads up: Japan’s Nikkei Japan PMI Manufacturing (OCT P) is due at 0:30 GMT (15 min) Est: N/A Previous: 48.9 #JPY
  • - Swedish Krona, Norwegian Krone eye Riksbank and Norges Bank rate moves - Pair may suffer if central banks strike a worrying tone and outlook for growth - #ECB rate decision, commentary and #Brexit may also amplify Nordic volatility ⬇️ https://www.dailyfx.com/forex/market_alert/2019/10/24/Euro-NOK-SEK-Brace-for-Riksbank-ECB-and-Norges-Bank-Rate-Moves-.html
Euro May Rise Regardless of Q2 GDP Results But Gains Look Shaky

Euro May Rise Regardless of Q2 GDP Results But Gains Look Shaky

2018-08-14 06:30:00
Ilya Spivak, Sr. Currency Strategist


  • Euro to look past German GDP data, may rise as risk appetite firms
  • Sentiment might improve further but headline risk remains elevated
  • China a notable weak spot in otherwise upbeat Asia Pacific session

German GDP data headlines the economic calendar in European trading hours. Output growth is expected to have accelerated in the second quarter, with an increase of 0.4 percent marking the first pickup in a year. Eurozone news-flow has improved relative to forecasts in recent months, opening the door for an upside surprise. With ECB policy on autopilot however, that may do little for the Euro.

Instead, the single currency will probably remain focused on worries about contagion from turmoil in Turkey. An emergency liquidity boost from the central bank in Ankara calmed investors’ nerves somewhat, halting its slide against the US Dollar (as expected). FTSE 100 and S&P 500 futures hint risk appetite will continue to recover in the hours ahead, which might translate into a more substantive recovery.

A rosier mood was already on display in the Asia Pacific session. The anti-risk Japanese Yen and Swiss Franc traded broadly lower while the sentiment-geared Australian, Canadian and New Zealand Dollars advanced alongside most regional share prices. Bourses in China were a notable exception following a round of broadly disappointing economic data.

With that said, headline sensitivity is almost certainly still elevated. A troubling soundbite from Turkey, Russia or any of emerging market trouble spots flagged in recent days – notably India and South Africa – may send asset prices into a tailspin once again. Indeed, any near-term recovery might be better suited as an opportunity to bet against risk rather than the alternative.

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


Euro May Rise Regardless of Q2 GDP Results But Gains Look Shaky


European Trading Session Economic Calendar

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


--- 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.


News & Analysis at your fingertips.