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
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
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Learn about the importance of the ISM manufacturing index here:
  • While the meetings of central bankers in the US, Japan and the UK will be front, left and center of traders’ minds this coming week, it would be wise not to ignore next Sunday’s German Federal Election. Get your euro forecast from @MartinSEssex here:
  • Take a closer look visually at the most influential global importers and exporters here:
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here:
  • GBP/USD’s consolidation could end soon if price breaks out of a symmetrical triangle in play since July. At this time, a downside breakout is likely following the appearance of a death cross. Get your weekly $GBP forecast from @DColmanFX here:
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here:
  • The Federal Reserve rate decision is likely to sway the near-term outlook for the price of gold as the central bank appears to be on track to scale back monetary support. Get your weekly gold forecast from @DavidJSong here:
  • 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:
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here:
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here:
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


--- Written by Dimitri Zabelin, 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.