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
Oil - US Crude
Bullish
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
Bullish
GBP/USD
Bearish
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
More View more
Real Time News
  • Heads Up:🇧🇷 BCB Focus Market Readout due at 11:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-05-17
  • $USDCAD at a massive level as it challenges the neckline of a Double Top formation carved out over the past 4 years A weekly close below the psychologically pivotal 1.2000 handle could pave the way for prices to tumble towards parity in the coming months $CAD https://t.co/hcqat64uhY
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.33%, while traders in Germany 30 are at opposite extremes with 76.47%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/gDRCfZglWe
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Silver: 0.78% Gold: 0.33% Oil - US Crude: -0.05% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/hZI8d9syK7
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.22% 🇪🇺EUR: 0.15% 🇨🇭CHF: 0.09% 🇨🇦CAD: -0.05% 🇦🇺AUD: -0.28% 🇳🇿NZD: -0.50% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/SMvmXEi0yD
  • EU and US announce a temporary truce as both agree to set up path to end WTO steel dispute
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: France 40: -0.16% Germany 30: -0.18% US 500: -0.22% Wall Street: -0.26% FTSE 100: -0.45% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/VX5wOdKk8m
  • When it comes to buying and selling forex, traders have unique styles and approaches. Learn about buying and selling forex here: https://t.co/D8DXSAdpqC https://t.co/iMfs3yj9pd
  • 🇬🇷 Unemployment Rate (JAN) Actual: 16.0% Previous: 15.8% https://www.dailyfx.com/economic-calendar#2021-05-17
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/EihvlFd7F7
Euro, US Dollar Eye ECB Talk, German ZEW and US Industrial Data

Euro, US Dollar Eye ECB Talk, German ZEW and US Industrial Data

Dimitri Zabelin, Analyst

US Dollar Euro, FOMC, German ZEW – TALKING POINTS

  • US Dollar, Euro may wobble after German ZEW Survey, US industrial data is published
  • Volatility may be tamed as traders wait to commit capital before the FOMC rate decision
  • Traders will also be closely watching for commentary from ECB officials in Luxembourg

Learn how to use political-risk analysis in your trading strategy!

Asia-Pacific Market Recap

Asia markets had a relatively quiet day with most of the focus being on the Saudi Aramco drone strike and disruption to the global oil supply. There were initial concerns about how it may impact developing Asian economies, though this fears appeared to be tempered – for now at least. RBA meeting minutes were published but failed to stoke significantly volatility possibly because it reiterated a message markets were expecting.

European Session: US Industrial Production, German ZEW Survey Data

The US Dollar and Euro will be watching the release of German ZEW Survey data that is hovering around levels not reached since the Eurozone debt crisis and before that the 2008 financial collapse. This comes as the European economy continues to show weakness and pressure the local currency as 5Y5Y Euro inflation forward swaps hovers at record lows. This indicator is typically used as a tool for future inflation expectations.

Last week, the ECB cut rates deeper into negative territory and reintroduced QE. However, this was not sufficiently dovish enough for markets participants who were hoping for more easing. After the rate decision, the Euro – rather counterintuitively – closed higher for the day. This suggests that the ECB had failed to meet the market’s lofty expectations for ultra-dovish policy measures and showed desperation for liquidity.

Up next, ECB Chief Economist Philip Lane and Executive Board Member Benoît Cœuré will both be speaking in Luxembourg. Though their commentary may not stoke notable volatility, the nuance of their comments could provide greater insight into policymakers’ views. To get more in-depth analysis of ECB commentary, be sure to follow me on Twitter @ZabelinDimitri.

In the US, traders will be eyeing local industrial production data, though volatility from these events may be curbed due to the upcoming FOMC decision this week. Rate cut bets have already been priced in, so at most what they could do is either amplify or slightly temper future rate cut bets at upcoming meetings. However, this by no means suggests the upcoming data is irrelevant, especially in light of a slowing global economy.

Chart of the Day: German ZEW Data at Lowest Point Since Eurozone Debt Crisis, Financial Crash

Chart showing German ZEW Survey

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