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.

Free Trading Guides
EUR/USD
Mixed
GBP/USD
Mixed
USD/JPY
Bullish
Gold
Bullish
Oil - US Crude
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
Bitcoin
Bearish
More View more
Notice

DailyFX PLUS Content Now Available Freely to all DailyFX Users

Real Time News
  • Heads Up:🇪🇺 EUR Markit/BME Germany Composite PMI (SEP P) due at 07:30 GMT (15min), Actual: N/A Expected: 51.5 Previous: 51.7 https://www.dailyfx.com/economic-calendar#2019-09-23
  • Heads Up:🇪🇺 EUR Markit Germany Services PMI (SEP P) due at 07:30 GMT (15min), Actual: N/A Expected: 54.3 Previous: 54.8 https://www.dailyfx.com/economic-calendar#2019-09-23
  • Heads Up:🇪🇺 EUR Markit/BME Germany Manufacturing PMI (SEP P) due at 07:30 GMT (15min), Actual: N/A Expected: 44.0 Previous: 43.5 https://www.dailyfx.com/economic-calendar#2019-09-23
  • Heads Up: 🇪🇺 (EUR) Markit/BME Germany Composite PMI (SEP P) due at 07:30:00 GMT (15min) Expected: 51.5 Previous: 51.7
  • Heads Up: 🇪🇺 (EUR) Markit Germany Services PMI (SEP P) due at 07:30:00 GMT (15min) Expected: 54.3 Previous: 54.8
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.11% 🇳🇿NZD: 0.02% 🇨🇭CHF: -0.04% 🇪🇺EUR: -0.09% 🇨🇦CAD: -0.10% 🇯🇵JPY: -0.15% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/hdDDQ0oVLI
  • Heads Up: 🇪🇺 (EUR) Markit/BME Germany Manufacturing PMI (SEP P) due at 07:30:00 GMT (15min) Expected: 44.0 Previous: 43.5
  • CHF Switzerland August M3 Money Supply YY: Actual: 2.7% Previous: 3.2%
  • Join @DavidCottleFX 's #webinar at 4:00 AM ET/8:00 AM GMT for your weekly update on the top Asia Pacific market drivers that traders should watch this week. Register here: https://t.co/HNf3Axw8s5 https://t.co/KUJecuuyWg
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: US 500: 0.36% Wall Street: 0.32% France 40: -0.10% Germany 30: -0.32% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/m9Hm0d41Lt
Euro Nervously Eyes ECB Rate Decision, Turmoil in Italy, Trade Wars

Euro Nervously Eyes ECB Rate Decision, Turmoil in Italy, Trade Wars

2019-06-02 04:00:00
Dimitri Zabelin, Junior Currency Analyst
Share:

EURO FUNDAMENTAL FORECAST: BEARISH

  • Euro traders nervously eye ECB rate decision and econ outlook
  • Rome-Brussels budget battle may undermine EURUSD strength
  • EU-US trade tensions remain headline risk as global growth slows

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

The Euro will be under pressure this week ahead of the release of the ECB rate decision and ongoing negotiations between Rome and Brussels over the former’s budgetary ambitions. EU officials will also be continuing their talks on who will head major European institutions including the European Commission, European Council and the ECB.

The ECB is expected to hold rates in negative territory this week as the global and regional outlook for growth continues to sour against the backdrop of unfavorable geopolitical tensions. Internally, inter-European relations in key Eurozone member states continue to threaten sovereign bond markets. The battle of budgets between Rome and Brussels continues.

This is compounded by the recent release of Italian GDP that saw year-on-year growth shrink 0.1 percent while Italian 10-year bond yields continue to hover at multi-year highs. EU-US trade relations may become a headline concern as cross-Atlantic tensions rise against the backdrop of diverging policy approaches toward Iran.

The EU and US narrowly avoided – for the time being – an escalated trade war after US President Donald Trump delayed implementing auto tariffs against Europe which would have put the export-heavy DAX under additional pressure. Deteriorating US-Mexico trade relations also makes European policymakers nervous because of the prospect that Trump may do the same to them without notice. Such an approach has been the President’s modus operandi.

EURUSD CONTINUES TO TRADE BELOW DESCENDING RESISTANCE

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

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

DISCLOSURES

News & Analysis at your fingertips.