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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
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
Wall Street
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
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here:
  • Human error in the forex market is common and often leads to familiar trading mistakes. These trading mistakes crop up particularly with novice traders on a regular basis. Learn about the top ten trading mistakes and how you can avoid them here:
  • Consolidation or bull flag? A bull flag is a continuation pattern that occurs as a brief pause in the trend following a strong price move higher. Learn how to better spot these formations here:
  • What is your forex trading style? Take the quiz and find out:
  • Japanese candlesticks are a popular charting technique used by many traders, and the shooting star candle is no exception. Learn about the shooting star candlestick and how to trade it here:
  • 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:
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here:
  • 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:
  • 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:
  • 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
Euro Outlook Shaky on Upcoming PMI Data, Renewed Trade Risks

Euro Outlook Shaky on Upcoming PMI Data, Renewed Trade Risks

Dimitri Zabelin, Analyst

Euro Outlook, EUR/USD Technical Analysis, Trade Wars – Talking Points

  • Euro may face selling pressure if local PMI data reinforces regional slowdown concerns
  • Escalating EU-US trade tensions could magnify Euro selloff and fuels ECB rate cut bets
  • EUR/USD recovery may be short-lived despite biggest one-day surge since September 17

Learn how to use politicalrisk analysis in your trading strategy!

Asia-Pacific Recap

The Australian Dollar edged modestly lower following the publication of local GDP data. Year-on-year growth remained unchanged at 1.7 percent, though on a quarter-on-quarter basis the economy only grew 0.4 percent, missing the 0.5 percent forecast. APAC equities moved cautiously lower as tensions between the US and China heat up over the passage of the Hong Kong Humans Rights and Democracy Act.

Eurozone PMI

The final print for Eurozone services and composite PMI is expected to show a 51.5 and 50.3 reading, respectively. Weak manufacturing data in Europe – particularly Germany – has dragged the composite lower while services remains relatively resilient. However, this is not a trend specific to Europe; all over the world manufacturing has been enduring an industrial recession in large part due to the US-China trade war.

Chart showing Eurozone PMI

Note: A print below 50 indicates a contraction

If Eurozone services PMI data shows that the contagion of the industrial slowdown is now infecting another sector of the economy, it may prompt a Euro selloff if the statistics inflame the urgency for ECB rate cuts. The region is already struggling with Brexit – though the potency of that risk is waning– and a brewing trade dispute with the US may further dampen the Eurozone’s economic outlook.

US-EU Trade Tensions

The EU and US are once again at each other’s throats after US President Donald Trump proposed a multi-billion dollar tariff against the EU in response to France’s digital tax. The levies would target French goods ranging from porcelain to cheese. European policymakers have said they are ready to retaliate against the US if necessary, raising the risk of resurrecting what was thought to be a dead cross-Atlantic trade dispute.

EUR/USD Technical Analysis

On December 2, EUR/USD rallied over 0.50 percent, reclaiming lost ground from the late-November selloff. It also marked the largest one-day rise since September 17. The pair is now hovering slightly above former resistance-now-turned-support at 1.1073. However, upside momentum may be curbed by the upcoming fundamental catalysts. In the next few days, EUR/USD may re-enter the 1.1022-1.1073 congestive zone.

EUR/USD – Daily Chart

Chart showing EUR/USD

EUR/USD chart created using TradingView


--- Written by Dimitri Zabelin, Jr Currency Analyst for

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.