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
Bullish
Wall Street
Mixed
Gold
Bearish
GBP/USD
Bearish
USD/JPY
Mixed
More View more
Real Time News
  • Implementing a trading checklist is a vital part of the trading process because it helps traders to stay disciplined, stick to the trading plan, and builds confidence. Learn how to stick to the plan, stay disciplined, and use a checklist here: https://t.co/2MCG036HGH https://t.co/WvB0ze2Tpe
  • Join @MBForex at 8:30 AM ET/12:30 PM GMT for his weekly strategy #webinar Register here: https://t.co/VAnAfZU02T https://t.co/hCU33zOlyq
  • Heads Up:🇧🇷 BCB Focus Market Readout due at 11:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-08-10
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.35%, while traders in US 500 are at opposite extremes with 76.44%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/VJzrlGSkfj
  • Heads Up:🇲🇽 Industrial Production YoY (JUN) due at 11:00 GMT (15min) Expected: -17.8% Previous: -30.7% https://www.dailyfx.com/economic-calendar#2020-08-10
  • Tune in to @CVecchioFX 's #webinar at 7:30 AM ET/11:30 AM GMT for insight on major event risk in the week ahead. Register here: https://t.co/X8TIhpKxtF https://t.co/YZoHo12epc
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.55% Silver: 0.16% Gold: -0.20% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/a6Cpl9NrtM
  • Missed today's Cross-Market Weekly Outlook webinar? See the recording here - https://t.co/5IzIKPVcjn The focus this week was on potential for a broad US Dollar rebound, with an eye on #EURUSD, #AUDUSD and #gold
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.01% 🇨🇦CAD: -0.01% 🇯🇵JPY: -0.07% 🇪🇺EUR: -0.19% 🇳🇿NZD: -0.21% 🇨🇭CHF: -0.37% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/ZK6i5FuWCO
  • Triangle patterns have three main variations and appear frequently in the forex market. These patterns provide traders with greater insight into future price movement and the possible resumption of the current trend. Learn about triangles here: https://t.co/7FV2JAxssO https://t.co/RqjV3yyClM
EURUSD Retreat May be Mitigated by US Data - GBP Eyeing BoE

EURUSD Retreat May be Mitigated by US Data - GBP Eyeing BoE

2019-06-26 06:30:00
Dimitri Zabelin, Analyst
Share:

EURUSD FORECAST, US DURABLE GOODS ORDERS, BOE TALKS, RBNZ RECAP – TALKING POINTS

  • EURUSD may get boost if US economic data underwhelms
  • If the data underperforms, it could fuel rate cut expectations
  • GBP traders will be watching for commentary from the BoE

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

APAC RECAP

Asia Pacific equities were a mixed bag while the FX market was showing traders expressing a modestly risk-on tilt. The Japanese Yen was down against most of its major counterparts while the New Zealand and Australian Dollars were hovering marginally higher. The biggest event risk today was the RBNZ’s decision to hold the OCR at 1.50 percent and the Kiwi ended higher despite signals of another cut down the road.

US ECONOMIC DATA

EURUSD traders will be closely watching the release of US Durable Goods Orders with preliminary numbers for May showing an estimate of a 0.2 percent contraction, marginally less severe than the previous -2.1 print. If the data underwhelms, it could fuel dovish expectations despite St. Luis Fed President James Bullard’s defusing commentary on future rate cuts, adding that a 50 basis point slash in July would be overdoing it.

If this is the case, EURUSD may attempt to re-enter the 1.1388-1.1424 range if the US Dollar takes a big enough hit. Conversely, a surprise to the upside could cause the pair to fall around the 1.34 area. However, the long-term fundamental outlook suggests EURUSD will capitulate and resume its prior downtrend, though not necessarily to the same degree that it was before it broke out from under an 18-month descending ceiling.

If you want to learn more about the fundamental outlook for Europe, be sure to follow me on Twitter @ZabelinDimitri.

STERLING TRADERS EYE TALKS BY BoE OFFICIALS

Sterling traders will be carefully watching the commentary from Bank of England officials Jon Cunliffe, Silvana Tenreyro and Governor Mark Carney. The main topic of discussion will likely again revolve around Brexit, and their reassessment of the situation may cause capital flight from GBP – much like last week. Uncertainty about the EU-UK divorce continues to rise in light of the ongoing race for Prime Minister.

Boris Johnson is currently in the lead, and a decision of the winner will be announced during the week of July 22. The outlook has become considerably cloudier with potential storm clouds brewing on the horizon after the frontrunner pledged to get Britain out of the EU by October 31. He also added that Parliament is also ready to back a no-deal outcome; GBPUSD certainly felt the pain.

CHART OF THE DAY: EURUSD MAY ATTEMPT TO RETEST RESISTANCE IF US ECON DATA DISAPPOINTS

Chart Showing EURUSD

FX TRADING RESOURCES

--- Written by Dimitri Zabelin, Jr Currency Analyst for DailyFX.com

To contact Dimitri, use the comments section below or @ZabelinDimitrion Twitter

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

DISCLOSURES

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.