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.

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
Bullish
Oil - US Crude
Bullish
Wall Street
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
Mixed
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • IMF World Economic Outlook updates: - US 2021 GDP estimate raised to 5.1% from 3.1% - Euro-area growth estimate cut - Great deal of uncertainty remains around forecasts - Realization of potential downside risks could cause a tightening in financial conditions $EUR $USD
  • IMF World Economic Outlook updates: - Lifts 2021 global outlook on stimulus and vaccines boost - Says global recession shallower than previously expected - Raises 2021 global growth estimates from 5.2% to 5.5% $EEM $USD $URTH
  • 🇭🇺 Deposit Interest Rate (JAN) Actual: -0.05% Expected: -0.05% Previous: -0.05% https://www.dailyfx.com/economic-calendar#2021-01-26
  • 🇭🇺 Interest Rate Decision Actual: 0.6% Expected: 0.6% Previous: 0.6% https://www.dailyfx.com/economic-calendar#2021-01-26
  • Heads Up:🇺🇸 IMF World Economic Outlook due at 13:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-01-26
  • Heads Up:🇭🇺 Deposit Interest Rate (JAN) due at 13:00 GMT (15min) Expected: -0.05% Previous: -0.05% https://www.dailyfx.com/economic-calendar#2021-01-26
  • Heads Up:🇭🇺 Interest Rate Decision due at 13:00 GMT (15min) Expected: 0.6% Previous: 0.6% https://www.dailyfx.com/economic-calendar#2021-01-26
  • The bull flag pattern is a great pattern to add to a forex trader's technical arsenal. Explosive moves are often associated with the bull flag. Learn more about the bull flag pattern here: https://t.co/yOEvLjKnct https://t.co/Xo7WQ5b8l1
  • US Dollar slips with high beta FX hovering at session highs amid results from Regeneron's antibody drug cocktail which prevented 100% of symptomatic infections and cut down asymptomatic infections by a half in interim study
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here: https://t.co/5uSWKoLkd6 https://t.co/5fpiYso1Cd
EUR/USD May Fall on Covid-19 Eurozone Finance Minister Meeting

EUR/USD May Fall on Covid-19 Eurozone Finance Minister Meeting

Dimitri Zabelin, Analyst

EUR/USD, Eurozone Finance Minister Meeting, Coronavirus – Talking Points

  • Asia-Pacific recap: RBA holds rates at 0.25%, warned of hard times ahead
  • Eurozone finance minister meeting could elicit notable volatility in the Euro
  • EUR/USD may bounce from key support and retest descending resistance

Asia-Pacific Recap

The Australian and New Zealand Dollars rose vs their G10 counterparts as part of what appeared to be a spillover of optimism from Wall Street. The haven-linked US Dollar was in the red while Asia-Pacific equities were green, reflecting market-wide risk appetite. AUD rose over one percent after the RBA held interest rates at 0.25 percent and gave a press brief outlining their decision. Read the full report here.

Euro Eyes Eurozone Finance Minister Meeting

In the absence of major market-moving data, the Euro will be putting its focus primarily on the meeting between Eurozone finance ministers. The meeting the prior week failed to yield anything of substance as policymakers debated how to address stimulus concerns. The relatively fiscally conservative North is more inclined to give loans with conditions attached while Southern members states appear to strongly reject it.

Instead, they are proposing – along with some colleagues in the North – to issue joint debt via so-called corona-bonds. However, debt mutualization has been a controversial topic that has been a point of division between North and South for over a decade. Now, when the Eurozone edges closer to the precipice of a deep recession, this tension has been revived with unprecedented urgency.

The Euro may suffer in a politically-static environment if policymakers are unable to reach a consensus on a way forward. Regional consumer confidence data yesterday reported a -42.9 reading, missing the already-low -37.5. The report marked the weakest figures on record. To get a full breakdown of the financial, political and economic implications of the upcoming meeting, click here.

EUR/USD Analysis

Since topping at 1.1139, EUR/USD has faced severe liquidation pressure and has fallen over three percent as it trades below the steep guidance of descending resistance (labelled as “Downtrend Alpha”). If support at 1.0783 holds, the pair may then challenge the slope of depreciation. Having said that, failure to clear it could lead to capitulation and retesting a key floor, which if broken could catalyze a deeper selloff.

EUR/USD – Daily Chart

Chart showing EUR/USD

EUR/USD chart created using TradingView

EURO TRADING RESOURCES

--- Written by Dimitri Zabelin, 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